Lately, it has become fashionable to debate what is, or is not, “money-printing” by central banks. This debate is natural, due to the extreme policy nature of 2020, with massive fiscal expenditures, huge increases in central bank balance sheets, and changes in central bank inflation targets. It’s important to know […]

Many market participants continue to be surprised by the resiliency of the stock market, even in the face of rising bond yields and the recent scene at the capitol. Banks tend to prefer steeper yield curves, and that’s exactly what the market has been giving them. This is the second […]

The instrument of this dumbing down in Nineteen Eighty-Four was Newspeak, the official language of the English Socialist Party . Newspeak was a sort of Totalitarian Esperanto that sought gradually to diminish the range of what was thinkable by eliminating, contracting and manufacturing words. Nineteen Eighty-Four was written in 1949. Meanwhile, […]