Lee Quaintance & Paul Brodsky
Select articles on economics and financial markets by Lee Quaintance & Paul Brodsky of QB Asset Management Company in New York, a macro-oriented hedge fund. Truman Factor features their articles in English and in Spanish.
Sovereign Shares
It seems clear that the likely outcome is a systemic default on systemic debt in real terms so that nominal defaults can be avoided…
That Pesky Marketplace – A Political Fable
When the financial markets no longer reflect the human condition, authorities must answer to true power – the marketplace.…
Volume Triage
We think Tim Geithner (with Bill Dudley as an alternative) will take over the Fed when Ben Bernanke steps down next January, and it seems by all indications that the table is already being set.…
The Fed’s Exit
The magnitude of the systemic leverage problem will be met with equal inflationary force.…
Regarding the Trillion Dollar Coin
The trillion dollar coin idea is a marvel of political imagination and public ignorance.…
Conjecture
Raising dividend tax rates but leaving capital gains rates unchanged would theoretically be stock market bullish, as it would spur buyback programs. It would seem this would be a compromise in which the Administration could save face. While this might help stock market indexes, it is difficult to see how it would help the real economy. (Sadly, cynical policy and superficial optics could prevail over real economic solutions… again.)…
Gentlemen, Start Your DeLoreans
While some continue to argue that the US can only get its fiscal house in order by running trade and/or budget surpluses, it would seem the US’s official gold stock could be revalued to the extent that no trade or budget surplus is necessary as any sort of precondition.…
The Realist
On the eve of this evening’s US presidential debate and with two weeks to go before the election, we thought it would be fitting to publicly endorse our favorite candidate – the Realist.…
No pretense
There should be very little pretense among objective observers that last week’s perpetual QE announcement could actually provide real economic stimulation.…
Today’s Macroeconomic Problems, the Expedient Solution & its Consequences
Policy-administered asset monetization would stop the global financial system from seizing, restore sorely needed economic balance, and reset commercial incentives so that real growth can once again gain traction.…
