Darren Winters

Deep Earnings Recession

Posted By Darren Winters on Jul 13, 2020

A deep earnings recession made worse by a coronavirus-induced collapse in profits could be the final straw that dashes all hopes of a swift V-shaped recovery. Before the coronavirus hit the mainstream corporates were already in an earnings recession. In a piece entitled, “Earnings Recession” dated November 2019, I wrote, “the overall three straight quarters of year-over-year earnings declines suggest that companies are deep into an...

MP3 State Capitalism

Posted By Darren Winters on Jul 9, 2020

The transition to a new monetary policy regime, known as MP3 state capitalism is in play according to Bridgewater’s CIO Prince. MP3 state capitalism puts the government at the epicenter of capital distribution and it is likely to have a profound impact on investment portfolios going forward. So how did we get to MP3 state capitalism, which is likely to be radically different from previous cycles?  The idea of state capitalism...

Central Banks in Cahoots

Posted By Darren Winters on Jun 27, 2020

With the central banks in cahoots with pursuing a policy of staggering global stimulus, a risk-recovery rally could now be in play. The market has got its fix with over $18 trillion in global stimulus snorted up the nostrils of global markets, the central banks in cahoots with their asset purchases (QE) to infinity, has ensured a melt-up in risk assets, while the fundamental meltdown In the age of Zombies and bankrupt companies with...

Gold Rally

Posted By Darren Winters on Jun 16, 2020

The great gold rally continues, it is a victory lap for gold bugs and those advocating a system of sound money, which supports a store of wealth and sustainable development. Since time immemorial an ounce of gold has always been able to buy a fine suit.  Precious metals, particularly gold and platinum is often portrayed as a barbaric relic of the past, but the recent gold rally underscores gold as a prime haven asset that protects...

Central Banks Pandemic Response

Posted By Darren Winters on Jun 6, 2020

The central banks pandemic response to the great lockdowns of 2020 was a lot more of the same, massive liquidity creation to finance a multi-trillion dollar asset-purchase program, known as quantitative easing QE. A coordinated global monetary policy is now underway with post-pandemic QE to infinity being the central banks pandemic response QE max is being deployed in cahoots with the world central banks to fend off a multiple asset...