Mish's Global Economic Trend Analysis

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• Interview With James Rickards, Author of "The Death of Money"
• Wine Country Conference II Videos: Introduction and Hussman on "A Very Mean Reversion"
• Bank of Japan Seeks to End Stimulus, Currency Market in Disbelief

Interview With James Rickards, Author of "The Death of Money" Posted: 27 May 2014 02:25 PM PDT Inquiring minds may be interested in a Reason TV Interview with James Rickards, author of The Death of Money and also author of a New York Times best seller Currency Wars. Reason Managing Editor Katherine Mangu-Ward sat down with Rickards to discuss the future of money and a return to the financial stability of the gold standard in an event co-hosted by the Charles Koch Institute. Rickards predicts the crash of the global currency market, stating says "We're waiting for the catalyst that will cause this catastrophe to come tumbling down." Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com  Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Wine Country Conference II Videos: Introduction and Hussman on "A Very Mean Reversion" Posted: 27 May 2014 11:11 AM PDT Wine Country Conference II Videos are now available. We will release videos over the course of the next week or so. This Year's Charity As with last year, Wine Country Conference II was for charity. This year's cause was Autism. Many of the speakers donated all or part of their expense honorarium to the cause. I did as well, losing money, to put this event on. Once again, John Hussman and the Hussman Foundation was amazingly generous. The foundation will match donations dollar for dollar, up to $50,000! If you enjoy the videos (or even if you don't) please Make a Donation to the Autism Society. Introduction John Hussman- "A Very Mean Reversion" + Autism Discussion John Hussman Q&A with Mebane Faber Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Bank of Japan Seeks to End Stimulus, Currency Market in Disbelief Posted: 27 May 2014 09:58 AM PDT The bond markets and currency markets are out of sync with equity markets and widely-touted economic projections that things are getting better. Yesterday I commented US Economy Poised to Accelerate? Bond Market in Disbelief Today the spotlight is on Japan. Bank of Japan Confident Reuters reports Bank of Japan, more confident about recovery, quietly eyes stimulus exit. The Bank of Japan has begun shifting its focus from supporting growth to ways of phasing out its massive stimulus, taking first tentative steps towards a potentially momentous move for the world economy. Current and former central bankers familiar with internal discussions say an informal debate is under way on how to prepare for an exit from the BOJ's 13-month-old "quantitative and qualitative monetary easing." The stimulus is a centerpiece of Prime Minister Shinzo Abe's campaign to end two decades of deflation and fitful growth, and BOJ Governor Haruhiko Kuroda has vowed to keep cheap cash flowing until his 2 percent inflation target is in plain sight. But with inflation now past the half-way mark and signs that the economy has weathered last month's sales tax increase, Japanese central bankers are already thinking about the next chapter. Whereas weeks or months ago that debate would center on the potential need for more easing, now there is a strong sense within the BOJ board that the stimulus so far has worked well and the next step, albeit distant, could be policy tightening, not further easing. Deputy Governor Kikuo Iwata underscored that shift, reminding markets that the 2 percent inflation goal worked both ways. Yen vs. US Dollar Weekly If the Japanese economy was poised to strengthen, the Yen should rally along with yields on Japanese bonds. Neither is happening. Why not? I believe the currency and bond markets have the situation correct and the economic consensus about future growth is wrong. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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