"Case in point, every institution's favorite stock of the past decade: Apple. Interestingly, Apple's operating earnings have been flat for years--never mind what the global lockdown will do to aspirational longings for $1,000 smartphones."
"The return to “infinite” QE could potentially inflate the dollar, burst asset bubbles, and threaten the long-term safety of the economy."
"Doing “what works” in the short term often times conflicts with doing what is best for the most people over the long term."
"The Fed managed to stop this massacre by announcing it would backstop everything."
"Bear markets END when things simply can’t “get any worse.”"
"Hyperinflation also remains a possibility. Rapidly rising inflation and a falling dollar may trigger the Fed to raise rates, just like they did in the 1980s."
"With oil at or below $30 per barrel there is now a much bigger hole in Russia’s budget as tariffs from domestic oil and gas producers will likely drop to near zero."
"Welcome to United States of Japan."
"...the Fed officially crossed the Rubicon over the weekend."
"Fade rallies, and reduce risk accordingly."
"You can’t “buy low,” if you don’t have anything to “buy with.”"
"Bottom line, the Fed has started up the “money printing press” again, and in an attempt to curb market panic, has essentially cut rates to zero. But that hasn’t worked out well so far, because the market is still in panic mode."
"Germany is the ultimate backstop for the EU. ... German sovereign bonds are beginning to break down."
"Given the potential harm caused by the divergence between stimulus and economic fundamentals, it would be short-sighted and irresponsibly pragmatic to count out the prospect of inflation."
Wall Street estimates are still in fantasyland.