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Everything You Know About Economics Is Wrong: The Government Always Prints Money

February 22, 2019 Contrahour 7 Comments

Open your wallet. Hopefully, you’ll find some cash in there. People always say “I don’t believe governments should print money…

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Posted in: Economics, Everything You Know About Money Is Wrong

Everything You Know About Economics Is Wrong: The United States Government Cannot Go Bankrupt

February 21, 2019 Contrahour 4 Comments

The United States owns a printing press that it keeps on the National Mall in Washington, DC.  It’s very nice. …

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Posted in: Economics, Everything You Know About Money Is Wrong

Everything You Know About Economics Is Wrong: Don’t Sell Montana!

February 19, 2019 Contrahour 1 Comment

  A petition to sell Montana for $1 trillion is gaining traction on Change.org. Canada might like to own Montana…

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Posted in: Economics, Everything You Know About Money Is Wrong

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Contrahour On Twitter

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“Social media satiates our appetite for moral disgust and tribal conflict” Follow me on Twitter!

Contrahour
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Futures down, Europe up, Asia down. Aussie inflation higher. $IBM beats. $MMM beats. $JNJ mixed. $VZ beats & raises. $GE mixed, guides lower. $BRO beats. $AXP beats. $DSKE beats. $LMT beats. $RTX beats, guides down.

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The fact that Ukraine gave up its nuclear arsenal in exchange for military protection is the only good reason I see for sending out troops there. They gave up national security for the greater good of the world's safety. If this is correct, we have to help defend the country.

Mike Nelson @mikenelson586

1. Because we promised it. In 1994, the US (along with UK and Russia) signed the Budapest Memorandum guaranteeing Ukrainian security in exchange for Ukraine surrendering its nuclear arsenal. After the fall of the USSR, a newly independent Ukraine had the nuclear arsenal/
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The backwardation in $VIX spiked to panic levels during the day but finished not-quite-in-full-panic mode. I would consider the levels we saw at noon Monday panic levels though.

Image for the Tweet beginning: The backwardation in $VIX spiked Twitter feed image.
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The spike in $VIX indicates that we've seen at least a near-term panic low. Definitely could see a re-test of that low but we've seen enough panic for now to get bottom. $NDX $SPY

Image for the Tweet beginning: The spike in $VIX indicates Twitter feed image.
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Amazing insight here from the guy who said to bet big when you know you're right.

"I would have done much better if I had taken smaller positions and stuck with them...The range of uncertainty is also uncertain and, at times, it can become practically infinite."

Amazing insight here from the guy who said to bet big when you know you're right. "I would have done much better if I had taken smaller positions and stuck with them...The range of uncertainty is also uncertain and, at times, it can become practically infinite."
Petar Momchev @momchev12

Extreme $VIX backwardation = extreme standard deviation of daily and 10d returns. Risk ranges get very wide and bear/bull traps are brutal. Thanks to @WifeyAlpha for this gem:

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