Monetary Policy

Angelo Codevilla RIP

Angelo Codevilla died on September 22. Here’s Steve Hayward’s obituary, here’s Michael Walsh’s and here’s Brendan Dougherty’s. I met Codevilla only once, a few years ago, thanks to my dear friend Jim Lucier. Some may remember him for his translation of Machiavelli’s The Prince , […]

The Week Ahead – US Fed Sees Taper Conditions Not Far Off

EURUSD weakens as US taper looms The US dollar holds onto recent gains as markets price in the start of the taper for later this year. While the Fed has not given any specifics, the prospect of winding down the stimulus by mid-2022 means that […]

A Lone Voice of Reason at UT

Inside Higher Ed covers the proposed Liberty Institute at the University of Texas – and makes an admirable effort to talk to academic dissidents. My friend Richard Lowery speaks: Not all professors are so skeptical of the Liberty Institute, as they understand it thus far, […]

Is California still a trendsetter?

When I was young, people used to say that global trends started in America and American trends began in California. One famous example was Proposition 13, which signaled a broader tax cut movement in many other states and countries. California recently passed a couple of […]

StockWatch: BP Begins Closing UK Stations!

The closure of some petrol stations has reignited a row over lorry driver shortages in the UK. While the UK does not lack petrol and diesel at refineries, getting it to forecourts has been a problem in some areas. Oil giant Royal Dutch Shell announced […]

Some Covid Links

Lionel Shriver is rightly appalled by what she calls the “Covid pantomime” that demeaned her father’s funeral in New York City. Two slices: What’s especially pertinent to this anecdote? New York City has no general indoor mask mandate currently in force. Nor does it require […]

What’s the Real Issue With the Debt Ceiling?

Politicians just love a crisis that they can leverage to push their agenda and narrative. However, that’s not useful to traders who just want to know what the real world market impact will be. The current US budget and debt crisis is pretty much just […]

EURUSD Triple Zigzag Completes Wave (4)

The EURUSD currency pair seems to be forming a large bullish impulse. This impulse consists of intermediate sub-waves (1)-(2)-(3)-(4)-(5). The construction of the intermediate correction wave (4), which takes a complex structure, has ended. After the completion of the intermediate correction (4), the market turned […]

Quotation of the Day…

… is from page 123 of Thomas Sowell’s superb 1984 book, Civil Rights: Rhetoric or Reality?: There was a time, back in the heady days of the civil rights movement, when people expected to “solve” the racial “problem” – almost as if life were an […]

The Markets in Waves: GBPUSD, USOIL, GOLD, SPX500 & NAT GAS!

In today’s video, our Head of Research Stavros Tousios dives into the top Elliott Wave opportunities the markets have in store for us. Asset timestamps are as follows: GBPUSD 00:40 US OIL 03:55 GOLD 05:35 SPX500 07:20 NAT GAS 09:30 For daily Elliott Wave analysis […]