Sniffing The Hot Air Coming Out of Jackson Hole

With all the hot air coming out of Jackson Hole, Lee Adler reminds us to stay focused on the things that matter. He illustrates what we know for a fact about central bank policies and markets, and their likely directions.

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Why should you subscribe? Here’s how one subscriber puts it.

Today’s RFWS was absolutely outstanding. (I’m glad I actually watched this one rather than just listening while running.) When it comes to financial journalism, Lee, you remain an island of sanity in a huge sea of crap. Thanks.

Bob

CORRECTION: In the first chart in this video I calculated the ECB’s contribution incorrectly in converting to the dollar equivalency, resulting in the ECB’s contribution being underweighted in the composite graph. The total percentage change in central bank balance sheets over the period was 126%, not 185% as stated in the video. The direction of the composite line did not change and the angle of the line did not change materially. Only the scale is different. This does not impact the analysis in any way. In fact, an argument can be made that the ECB should be underweighted because it does not have a Primary Dealer system and has not yet done outright asset purchases to any meaningful degree. Here is the updated chart.

Aggregate Central Bank Balance Sheet - Click to enlarge

Aggregate Central Bank Balance Sheet – Click to enlarge

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Loan Liars

This note came in from a subscriber tonight.

Today’s RFWS was absolutely outstanding. (I’m glad I actually watched this one rather than just listening while running.) When it comes to financial journalism, Lee, you remain an island of sanity in a huge sea of crap. Thanks.

Bob

Subscription prices will be going up at the end of August. Join now and lock in the current price! Use the form below.

No, this isn’t about liar loans. It’s about the liars in the financial “news” media who twist the facts to suit whatever their point happens to be that day. Here are the facts about bank lending in the US. It’s anything but “soft.” The credit bubble has grown to unprecedented proportions. It is even bigger today than in 2007. If that was dangerous, what’s this?

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Inflation, Bank Trading, And Macro Liquidity Flows

Lee Adler looks at the latest real time consumer price data for August, recent patterns in bank trading and investment accounts, and macro liquidity flows that suggest it’s still too soon to turn outright bearish. Subscribers may click here to open or right click to download this video and play in your media player.

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Where Will This End? Where Will That End?

Lee Adler shows where the market is likely to top out and when that’s likely to happen, along with what to look for that would signal the crash that so many bears are expecting. Subscribers may click here to open or right click to download this video and play in your media player.

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Pay No Attention To The Woman Behind The Curtain

Lee Adler explains why we don’t need a crystal ball to front run the Fed. No ball gazing or front running is required to see the top. Subscribers may click here to open or right click to download this video and play in your media player. Or click here for a lower resolution video.

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