By Albert Lu Eric Sprott, Chairman Emeritus of Sprott Inc. U.S. stocks jumped to record highs on Monday, with the Dow Jones Industrial Average surging more than 150 points. The S&P 500 and Nasdaq Composite followed suit, rising by 0.8% and 1.3%, respectively. President Trump expressed satisfaction, while claiming credit via Twitter: https://twitter.com/realDonaldTrump/status/1198981079723589639 […]
By Albert Lu President Trump wants the Federal Reserve to lower interest rates further. But Federal Reserve Chairman Jerome Powell sees little reason to do so. In his message to Congress on Wednesday, Powell insisted that politics play “absolutely no role” in the committee’s decisions, adding that favorable economic conditions make further rate cuts unnecessary […]
IF ECONOMISTS DESIGNED AIRPLANES, WOULD YOU FLY? By Albert Lu Source: https://commons.wikimedia.org (cropped) It’s a fair question. Would you? Are their models robust? Are their predictions reliable? In other words, is their science sound? Don’t kid yourself; you know the answer. I suspect even economists would refuse to fly if their colleagues designed […]
By Albert Lu Eric Sprott, Chairman Emeritus of Sprott Inc. Stocks crashed on Monday before surging back in dramatic fashion on Wednesday following Christmas. But the 1000-point run didn’t last long. The market sank dramatically again on Thursday before staging a late-session comeback in a swing that saw the Dow Jones Industrial Average […]
By Albert Lu Photo Source: The Federal Reserve Federal Reserve Chairman Jerome Powell spoke and the market didn’t like what it heard. “Powell basically told you the Fed put is dead,” was hedge fund titan David Tepper’s assessment of the chairman’s prepared remarks delivered on Wednesday, following the Fed’s scheduled two-day policy meeting. “Everything is […]