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Strebler's Perspective

January, 2016 Archives

Inflate or Die

By Jon S. Strebler

 

That was Mr. Russell’s mantra for many years, as he sought to describe the U.S.’s options for dealing with its massive debts. And that was back in the 1980s and 1990s, before those debts really boomed. The idea was that inflation made it much easier to service and even pay off debts, as it created greater tax revenues and reduced the “real” (adjusted for inflation) amount of debt. Thus, in the battle between fighting unemployment and fighting inflation, government has a vested interest in focusing on the former and leaving the latter for later.

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Who Are You?

By Jon S. Strebler

 

Depending on your age, cultural proclivities, and how you emphasize each of the words, this phrase could be a reference to Alice in Wonderland or the rock group The Who. But here it refers to readers of Dow Theory Letters (DTL). We know that you number in the thousands and can be found on every continent, but other than that ...

 

 

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Honesty is the Best Policy

By Jon S. Strebler

 

Well, not always.  But still, one has to think that the world would be a better place if people were honest all the time.  Or at least, more honest more often.  Be that as it may, let’s take an honest look at where our key markets stand after last week’s cataclysmic moves.

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Themes for the New Year

by Jon S. Strebler

 

As most know by now, 2015 ended up being almost a non-event for US stock markets overall. The Dow Jones Industrial Average lost 2%, the S&P 500 down less than 1%. But there were the outliers: Dow Jones Transportation Average down a stunning 17.5%, in contrast to the NASDAQ – up a respectable 6%. Take a look at that relationship on this relative strength chart that plots the ratio of the Transports to NASDAQ:

 

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