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Does this look like the Fed is about to take away the punch bowl today?  With the markets still unsteady, after the Cyprus “surprise,” what chance is there that the Fed will announce that there is no longer a need for their $85 billion a month gift to the banks (yes, European banks too) and the bond market?  If the Fed stays the path, gold could continue its move up.  (This was written BEFORE the Fed’s announcement.  The result:  Precious metals down, dollar down, Dow up.  The question is, what will happen over the next few days?)

And isn’t it a co-incidence that Jim Sinclair’s private meeting with his CIGAs takes place in NYC today on the same afternoon that the Fed is making their announcement!  I think it’s great!

Take a look at two charts that Ranting Andy presented to our readers Tuesday, and you decide if this looks like a good time for the Fed to pull back their QE?  I’ll stick with Jim Sinclair’s “QE to Infinity.”

Tuesday Morning Commentary 3/18/2013

West; where “Helicopter Ben” is so intent on HYPER-INFLATING the dollar, he won’t even let his “deputies” speak after tomorrow’s FOMC meeting…

Bernanke Tightens Hold on Fed Message against Hawks

All Bennie has “accomplished” after nearly five years of ZIRP…

Is plunging employment…

Continue reading the Tuesday Morning Commentary

I received an email from one of our readers and he is curious about Ranting Andy Hoffman’s “economic acumen and financial sources.”  Knowing the source of this request, anything short of a Harvard Business School MBA and a decade working for Goldman Sachs would be a dis-qualifier.  Andy Hoffman was a terrific hire and he represents Miles Franklin and our industry with an uncommon understanding of the issues and further, brings great passion to the table.  No need to defend Ranting Andy.  His credentials are listed on our newsletter and anyone who READS his daily Rants knows what a wealth of information he brings to the table.

Don’t you find it interesting that the mainstream economists, and politicians with all the “credentials” failed to warn investors before the 2000 stock market crash.  And before the real estate bubble collapses that nearly brought down the entire banking industry.  Can you not find major fault with the policies of all the too-big to-fail banks, and their army of Ivy League graduate finance majors.  What about Alan Greenspan (who could never identify a bubble before it happened) or Ben Bernanke (who will gladly sacrifice the dollar to stave off a long-overdue depression)?

They all have the “credentials,” and where has it taken us? The world is struggling to avoid a global collapse, and a world war.  Unemployment in America is at levels last seen during the Great Depression.  Inflation (the real number, not the BLS mis-representation) is approaching 10%.  Half of our college graduates are looking for meaningful employment and it is much worse in Europe.  And whom do we have to blame for this mess?  Why the Harvard MBAs and Wharton economists, that’s who.  So I laugh when they question Ranting Andy’s “credentials.”

All I am saying is that an Ivy League background and an education in Keynesian economics hasn’t exactly produced the results we want.  If you think that Paul Krugman’s “print more money, that’s the solution to everything” – or that Helicopter Ben Bernanke’s “QE to infinity” policy are the answers then you shouldn’t be wasting your time reading our newsletters.  This will end badly, and the day will arrive when the dollar is no longer the world’s only acceptable reserve currency.

But the problems are not being solved by the largest of our institutions.  If you need an economist with an Ivy League background to explain things for you, try John Williams (Shadowstats) :
Walter J. “John” Williams was born in 1949. He received an A.B. in Economics, cum laude, from Dartmouth College in 1971, and was awarded a M.B.A. from Dartmouth’s Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar. During his career as a consulting economist, John has worked with individuals as well as Fortune 500 companies.

I consider John Williams and Jim Sinclair as my top two sources of information –to get to the truth.  I am constantly presenting Sinclair’s views but I also want to point out that while all of the main stream economists on CNBC and our politicians were touting the “Green Shoots” recovery, Williams stood aside and said NO!  There is no recovery!  He was correct.  And even today, as all of Wall Street and the MSM shout from the rooftops that we’ve turned the corner and the recovery is here, Williams says NO!  His latest report highlights the following:

No. 510: February 2013 CPI, PPI, Real Retail Sales and Earnings, Production – ShadowStats.com

March 15th, 2013

  • Budget-Deficit Negotiations Purportedly Revert Back to Using Fraudulent Reductions to CPI Inflation
  • Topping Expectations, Monthly Inflation Hit 0.7% for Both PPI and CPI-U
  • February Year-to-Year Inflation: 2.0% (CPI-U), 1.9% (CPI-W), 9.6% (ShadowStats)
  • Retail Sales Gained 0.4%, Instead of 1.1%, Adjusted for Headline Inflation
  • Pending Downside Production Benchmark Revisions Are Likely, Despite February’s Gain

 corrected-real-retail-sales
real-avg-weekly-earnings
corrected-industrial-production
Subscribe to John Williams’ Shadow Stats for the full article.

Study the three graphs, above, and you will see why he continues to maintain that there has been no statistically significant improvement in the economy – and further, he predicts that the economy will crash and we will experience hyperinflation by the summer of 2014.

People who question Ranting Andy’s “credentials” should be questioning the RESULTS we got from the kind of highly-credentialed, Ivy League-educated people they want to use as their gurus.  They only listen to people who say, “Come out and play, there is no wolf.”  Andy Hoffman is unpopular with these folks because he is the modern-day version of “the boy who cried wolf.”  And you all know how that story ended.