High On Debt Drugs. What Is Your Financial Priority? If you don’t understand debt growth you can’t understand the US economy or markets. As the chart above shows, the lesson

  The flaws of Defined Benefit retirement plans are still embedded in today’s financial plans Just looking at one projection of assumptions can be highly misleading Variability of returns lowers

The chart above shows the progression of Libor since the Fed’s first rate hike in December 2015. The progression was smooth until QT (discussed twice before this year) started to

Step 1: Dalbar 2017 Report: Understand why “investors suck at investing”. Step 2: Appreciate the benefit of consistently positive low volatility returns. Step 3: Understand repeatability of returns and use

When a credit system fails, debts have to be devalued one way or another. At the core it is a currency system failure. The US trade and fiscal deficits are

In the table below the performance for all major asset classes was negative for Q1 2018. Data from Orion Advisors This is a rare occurence because usually there are clearer

  Ever since 2008 policy, markets and the economy, have been reflecting a new paradigm, which is shown in the chart above. The trend in GDP growth to federal debt

                            https://www.hussmanfunds.com/comment/mc180302/ The distinction between “Durable” and “Transient” market gains  Markets and experience make opinions not valuation

                              Bonds take on the 30 year Yield downtrend The Government-Induced Liquidity Crisis  Global Divergences Market

                  The recent shift down in SPY may be confirming a larger head and shoulders pattern. Without a change in the trend