The Fed Pill
- Martin Enlund
- 1/29/23
In the iconic scene from the 1999 film The Matrix, the protagonist Neo is presented with a choice between two pills - the red pill, which reveals true reality, or the blue pill, which allows him to remain in his mundane existence, unaware of the choice he has made. This metaphor has become a popular trope on social media over the past decade, with the term “pill” being used to describe a sudden realization or enlightenment. The term is often used in the context of learning or gaining knowledge, and it is meant to evoke the idea of a “magic pill” that can instantly change one’s understanding or perspective on a subject.
CBDCs - utopia, dystopia, or both?
- Martin Enlund
- 11/17/22
“What is going on!?” my three-year-old exlaimed at the breakfast table the other day. And it’s indeed a valid question. Energy and food prices have been skyrocketing, yet another epidemic (monkeypox) has recently appeared to be spreading - at least it was declared a global emergency this past summer, and the world’s central bankers are changing their minds so quickly one suspects that they might soon land on their buttocks (perhaps in butter).
Is fiat money really money?
- Martin Enlund
- 11/7/22
Truth be told, investing legend Hugh Hendry had a point when he recently said that “central bankers don’t understand money, they only pretend”. But before we merely assign blame to this modern clergy of ours, one might as well note that few of us actually seem to understand money.
Monetary Poverty Policy
- Martin Enlund
- 6/21/22
Why is inflation so high, and what does the powers that be plan to do about it? Let’s start our attempt at answering this by looking at the supply side, where we have seen massive amounts of negative shocks to the supply side in recent years. In particular since the discovery of the COVID-19 virus.
Well, of course a recession is looming
- Martin Enlund
- 6/17/22
Well, of course a recession is looming.
In contrast to the PhD’s in charge, the US yield curve (i.e. the difference between the 2y yield and the 10y yield on US Treasury bonds) has a fairly long history of being predictive of economic recessions. Most if not all mainstream economists will disagree with this conclusion. That doesn’t mean that you should.
