Outside the Box, March 2013


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Cyprus Has Finally Killed Myth That EMU Is Benign

March 29, 2013

This piece from Ambrose Evans-Pritchard is about as hard-hitting an analysis of Cyprus as I have read and really makes an interesting introduction to this week’s Outside the Box. No messing around:

Capital controls have shattered the monetary unity of EMU. A Cypriot euro is no longer a core euro….

The complicity of EU authorities in the original plan to violate insured bank savings – halted only by the revolt of the Cypriot parliament – leaves the suspicion that they will steal anybody’s...

Is The Government Lying To Us About Inflation? Yes!

March 22, 2013

In today’s Outside the Box, Gary D. Halbert (my old and very dear friend and former business partner of many years) reminds us about a few significant facts concerning the Consumer Price Index (CPI) that mainstream economists and the media tend to ignore. The central question is whether the CPI is really indicative of the actual inflation rate. Not likely, says Gary, since the US Bureau of Labor Statistics (BLS), which compiles the CPI, has engaged in methodological shenanigans over the past...

Would the Real Peter and Paul Please Stand Up?

March 15, 2013

As I sit here in Cafayate, surrounded by sumptuous beauty and enjoying a slower pace, I find myself reflecting on the magnitude of the human economic endeavor and our search for a path to sustainable investing in a world where central bankers seem hell-bent on changing the very nature of the medium of exchange. All in the name of helping us, to be sure, with the most positive of intentions; but if you are a retired person living on your lifetime of accumulated savings, you might be wishing...

Out On A Limb: An Investor’s Guide to X-treme Monetary and Fiscal Conditions

March 8, 2013

I landed in Buenos Aires early this morning and have a day layover before heading off to Cafayate; but it is time to send you this weekend’s Outside the Box, and what a wonderful, powerful piece it is. I read John Hussman’s latest on the way down and had to review it several times. There is just so much meat here. And more than his usual quota of those wonderful graphs he comes up with. Did you know there is a 94% correlation between the price of beer in Iceland and the S&P 500? This is a...

Fifty Trades of Grey

March 1, 2013

I get so much broker research that I must admit I don’t usually read it or do so really fast. But the headline above caught my eye, and the piece turned out to be such a fun read, as well as truly thought-provoking and insightful, that I’ve made it today’s Outside the Box. The personalization of a “relationship” with the Fed gives us a decidedly delicious way to think about QE!

Michael Cembalest walks us through the changes in his attitude toward the Fed, from the heady days of early 2009,...