Category Archives: Investment outlook

Central Bank Machinations with No Exit: ECB Leaks New Thingy, It’s Doing Yield Spread Control

Not your grandmother’s “yield curve control.” Only one thing that could force this ECB absurdity to end: a big bout of inflation.

CalPERS Making It Impossible to Hire Competent Chief Investment Officer

CalPERS is such damaged goods that it apparently can’t attract the sort of CIO it wants to hire.

Having Dropped for Years, US Auto Sales Plunged to 1970s Level in 2020

More Covid road kill: auto sales.

Hubert Horan: The Airline Industry Collapse Part 5 – The Battle to Protect Airline Investors From Economic Reality Enters a New Phase

Why the big airline operators’ talk about turning the corner in early 2021 is bunk.

The “Crew Change” Crisis: 300,000 Seafarers Trapped. Will International Trade Grind to a Halt?

Will governments, unions, international organizations, and ship-owners be able to collaborate to solve the growing “crew change” crisis?

Hubert Horan: The Airline Industry Collapse Part 3 – Recovery Expectations Were Always Dreadfully Wrong

Not only is the airline industry in desperate shape, but its executives have made its bad situation worse, increasing resolution costs for all bagholders.

Introducing An Economic Program for American Democracy

A 1938 economic manifesto makes modern day schemes look inadequate and unimaginative.

Lots of Brain-Dead Misreporting About the Case-Shiller Home Price Index this Morning

No, Case-Shiller is not yet a reflection of home prices during the Pandemic. Be patient.

Board Member Margaret Brown Sues CalPERS, Board President Over Gang-Style Retaliation for Efforts to Oppose Its Incompetence

Board member Margaret Brown has finally had it with CalPERS’ dirty tricks.

8 Reasons Why Covid-19 Damage to the Economy Will Be Deep and Lasting

Why the economy is still mighty sick and won’t get much better any time soon.

CalPERS Plans to Blow Its Brains Out: Seeks to Increase Risk by Boosting Private Equity, Private Debt, and Leveraging the Entire Fund

CalPERS latches on to new, really bad investment ideas.

Private Equity Clearly Inferior to Public Equity: Delivers Similar Returns With Lower Liquidity

More evidence that private equity underperforms on a risk-adjusted basis.

Michael Hudson: Fed’s $10 Trillion Defends Assets of the Rich

Michael Hudson gives a detailed, if sobering, account of the outlook for the economy.

Public Pension Plans in a World of Hurt; Even Loyalists Warning of Grim Prospects

Not surprisingly, public pension fund economics look pretty sick.

Is EIA Data Disguising A Disastrous Decline In U.S. Shale?

Tallying some of the recent shale production cuts.