Investment Markets Overview — W/E 26th August 2016

Jackson Hole….A spectacular valley set between the two mountain ranges in the American state of Wyoming has only one town, Jackson, but it’s also called Jackson Hole. Set at 2100m above sea level the term “hole” was apparently given by the beaver trappers who had to descend relatively steep slopes which gave them the sensation of entering a hole. With a population of circa 10,000ish, Jackson Hole’s main dependency is from tourism but for two days at this time of the year, the high-spending global Central Bank crowd descend in their private jets for an annual monetary policy symposium held by Queen Janet and the rest of her gang at the Federal Reserve. Regular readers of this column will be well aware of the growing disdain for this particular “political class,” despite their claims of independence, and for the damage to the economy that they collectively inflict, so here are a couple of comments from others on both them and this event:

Barron’s magazine: “Fed’s Jackson Hole Circus:” … Clowns to the left of me, jokers to the right.” Those may not have been the lyrics running through the head of Federal Reserve Chair Janet Yellen last week at the annual policy symposium in Jackson Hole, Wyo., but it might be understandable to have had thoughts along those lines.

Phoenix Capital: The Fed and other Central Banks are largely being run by academics with zero real world experience. For centuries leaders and their advisors have tried to generate perpetual growth but none have succeeded. So the idea that this current group of Central Bankers, isolated from the private sector for their entire careers, somehow understand economics better than any other group of humans in history is ludicrous.

Markets were so quite for the first 4-days of this week that you could hear the proverbial pin drop, but then the Central Bankers’ spoke:

26 Aug 16 .

 

Subscribe to the Full Investment Markets Overview Newsletter which contains the following:-

Additional Commentaries:
•US economic data . . .
•Euro-Zone . . .
•The UK . . .
•Out East . . .
•The $US index . . .
•Within the commodities complex . . .
•Economic data due next week includes . . .

  Returning to the “Central Bank” danger, outlined so eloquently by Phoenix Capital’s Chief Market Strategist, Graham Summers and published on the……

……

Charts:
1.  Indices Weekly
2. $US HPI V US Existing and New Home Sales
3. UK GDP V UK  Private Consumption
4. Japan GPIF Asset Wts V  Target Wts
5. Commodities Weekly

Table:

13 Indices, 11 columns of detailed information, for accurate analysis

“There is something reassuring about an echo”

Click Here to view Details of the full version of this Newsletter which includes full text and detailed

 

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