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September 25, 2013
September 21, 2012
"What we need is a central bank that has the humility not to do what it cannot do. And the Fed cannot do what others have failed to do, namely to plan an economy from a central desk in the capital city."  -JIM GRANT, FOUNDER OF GRANT’S INTEREST RATE OBSERVER. POINTS TO PONDER 1.  The […]
By: Evergreen Gavekal
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September 25, 2013
September 14, 2012
"So there may well be reasons for market enthusiasm, but they certainly have nothing to do with the economy. As we saw in 2006-2007, the markets and the economy can enter into a trial separation for a period of time, but they never get divorced."  -DAVID ROSENBERG, CHIEF ECONOMIST AND STRATEGIST, GLUSKIN SHEFF This week’s […]
By: Evergreen Gavekal
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September 25, 2013
August 24, 2012
"We live in a technological golden age but in a monetary and fiscal dark age.  While physicists discover the so-called God particle, governments print and borrow by the trillions.  Science and technology may hurtle forward, but money and banking race backward."  -JAMES GRANT, AUTHOR OF GRANT'S INTEREST RATE OBSERVER. POINTS TO PONDER 1.  Despite lower […]
By: Evergreen Gavekal
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September 25, 2013
August 17, 2012
"It is the long history of humankind (and animal kind, too) those who learned to collaborate and improvise most effectively have prevailed. " -CHARLES DARWIN By now most readers expect to open EVA each Friday and read our take on the ever-changing financial markets. Occasionally, something arises that’s compels us to deviate from our normal […]
By: Evergreen Gavekal
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September 25, 2013
August 10, 2012
"This is the great danger America faces.  That we will cease to be one nation and become instead a collection of interest groups…each seeking to satisfy private wants."  -BARBARA JORDAN, CIVIL RIGHTS ACTIVIST AND CONGRESSWOMAN A third way? Last week’s EVA was the first installment in a two-part series on what I believe is one […]
By: Evergreen Gavekal
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September 25, 2013
October 5, 2012
"Every monetary policy action has costs and benefits, and my assessment is that the potential costs and risks associated with these actions (QE3) outweigh the potential meager benefits."  -CHARLES PLOSSER, PRESIDENT OF THE FEDERAL RESERVE BANK OF PHILADELPHIA POINTS TO PONDER 1. Looking at a collection of US economic data makes the stock market’s ebullience […]
By: Evergreen Gavekal
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September 25, 2013
November 2, 2012
"Let’s be honest with ourselves.  The US economy is not on the path of a sustainable and healthy recovery from a Great Recession that began almost four years ago."   -DAN DIMICCO, CEO OF STEEL GIANT, NUCOR. POINTS TO PONDER 1. Although the long-term picture looks radiant for US manufacturing, even this resurgent part of our […]
By: Evergreen Gavekal
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September 25, 2013
November 16, 2012
"By a continuing process of inflation, Governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens...Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency." -JOHN MAYNARD KEYNES The original Volcker Rule. The year was 1979 and […]
By: Evergreen Gavekal
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September 25, 2013
November 9, 2012
"Government is not reason; it is not eloquent; it is force.  Like fire, it is a dangerous servant and fearful master."    -GEORGE WASHINGTON Morning in America or America in mourning? Undoubtedly, how you are feeling, as this pivotal week comes to an end, is heavily dependent on your political inclinations.  My suspicion is that most […]
By: Evergreen Gavekal
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September 25, 2013
October 19, 2012
"Those who are too smart to engage in politics are punished by being governed by those who are dumber."   - PLATO "A good president is one who gets elected."   - ADOLPH MENJOU, IN THE 1948 FILM STATE OF THE UNION "The world needs honest men more than it needs presidents."   - SPENCER TRACY IN STATE […]
By: Evergreen Gavekal
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