Tuesday, October 29, 2013

Macro readers, read Sean Corrigan!

Anybody who enjoys reading a spot of macro analysis would do well to add Sean Corrigan's monthly research note to their diet of economic commentary. Here is a man of strong opinion, experience, and knowledge. A snippet of his latest:

"Over the past 2 ½ years, while the Fed has valiantly sought to repeal the laws of economics in order to put Humpty Dumpty back on his wall the only way it knows how – by lifting the shattered bits of shell and glutinous membranes ever higher on a cushion of attempted reflation – it has managed to expand its balance sheet (and hence, loosely, the monetary base) by around 45% or at a 16% compound annual rate.

… anything which can be bought on credit has roared ahead, notwith-standing the overall anaemic condition of the body economic. Car sales are up around 25% in that time with both new and used prices registering record highs, while total housing turnover has jumped by almost three-fifths, with new home median prices setting a new peak and those for owned homes returning to levels characteristic of the 2005-07 real estate frenzy"

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