The Markets at the Junction of the Platonic Wheel and Jeffersonian Democracy: Trade, Cycles, and the 200-Day Moving Average, Part I
Wealth creation is the trust outcome of production and exchange. Wealth affects production, sale, and exchange of goods and services, and of course, can advance growth due to higher incomes, spending, and investments. The equity market (as a source of wealth) was due...The Dollar and Contemporary Market Reflections: An Attempt to Understand Developments Using the Lenses of Henry IV
The main message of this commentary is that the strength of the dollar holds the keys to the future. In 1985, a coordinated intervention to bring down the value of the dollar was sealed in what I consider to be the infamous Plaza Accord. Chairman Paul Volcker once...Market Icons and Uncertainty in a Changing World Order: Warm Greetings from Byzantium
The Byzantine Emperor Leo III (who inaugurated the Isaurian dynasty of emperors in the Byzantine Empire) was a true reformer. Around 725 AD, he sensed that the empire was endangered from within by lawlessness (the infamous twenty prior years of anarchy), corruption,...In the Wilderness of Mirrors: The Bayesian Order, the Overton Window, Rising Uncertainty, and Expected Outcomes
Last Friday, the significant drop in consumer sentiment fueled turmoil and led the market into a downward spiral that ended the day with a 1.7% decline, wiping out almost all gains since the election on November 5th, as shown below. As our commentary two...Sign Up for Our Publications
