Sponsored by

Tuesday Conversation - Brent Johnson of Santiago Capital

CEO, Portfolio Manager
Santiago Capital

Following Monday's podcast with Luke Gromen, I thought it would be fun to next visit with our old friend (and fellow Cornhusker), Brent Johnson. For this discussion, Brent and I cover several of the same topics as yesterday while incorporating Brent's unique perspective on the markets.

So for this podcast, Brent and I begin with the same Krugman tweet that Luke and I discussed yesterday:

Repeat after me: debt is money we owe to ourselves. It doesn't make the nation as a whole poorer. https://t.co/yyAkexUV0N

— Paul Krugman (@paulkrugman) May 22, 2020

From there, we discuss:

  • the liquidity-driven necessity of QE∞
  • the impact of an official yuan devaluation
  • global demand for dollars driving its relative value higher
  • whether QE∞ will ultimately be inflationary
  • the possibility of global stagflation
  • and quite a bit in between

Many thanks to Brent for being so generous with his time. I think you'll find this podcast to be extremely interesting and thought-provoking.




Jun 2, 2020 - 6:34pm

Central Banks

Hmm, just because the crooks at the Central Banks (Fed) claim they want inflation, it doesn't mean they're telling the truth. Why does everyone in the gold sector believe those central bankers when they make that statement?

No, they don't want inflation at all. It wouldn't be that hard to devalue the US dollar and create inflation, it could be done in short order, but that's NOT what The Elite want.

There's a reason why silver still trades at $17 oz, it's because of the lack of money going into Main Street. And no, there's not going to be UBI, free college, single payer health care or debt reset, not gonna happen. What is going to happen is spending cuts in pensions, entitlements and other social programs. We're going to stay with 0% to negative rates of interest for many years to come.

The only way money comes into Main Street is IF the people hit the streets and demand it. Trump promised economic nationalism, how did that workout? It didn't happen. The political process is broken, there is no white knight to save the day.

These riots are more about economic destruction of Main Street and debt slavery. This is what happens when the velocity of money continues to crash. Did The Elite really think a $1200 check was going to save the day as Wall Street got $5 trillion?

It's all deflation until something forces The Elite to change their behavior, that changes needs to occur in the real world. It's NOT going to occur in their fake world of finance.

Jun 2, 2020 - 6:29pm


...glad you and family made it home safely ! It's also wonderful to hear your folks are in great spirits !!!! You definitely ARE THE MAN !!!!!

Here, my dad has been trying to put shirts on the dogs. He is so adorably cute !

And I'd love to hear the Amarillo story.

Jun 2, 2020 - 6:24pm

Ted Butler, "Falling into Place" (1 June 2020)

I am not sure if someone has already placed a link to Ted Butler's article entitled "Falling Into Place" (1 June 2020) on this site. However, it is worth a look.


Jun 2, 2020 - 6:17pm


This is the shotgun I have for self defense. I own the Bullpup, it holds 13 rounds. They also make one that holds 25.


Angry Chef
Jun 2, 2020 - 5:17pm
Angry Chef
Jun 2, 2020 - 5:01pm
Jun 2, 2020 - 4:40pm

Powell was right, he has

Powell was right, he has unlimited tools to drive the stock market higher. The stock market is freaking amazing. Corona virus and burning down America be damned, the stock market marches on.

Angry Chef
Jun 2, 2020 - 4:28pm



This comes directly from the WHO, CDC, Bill Gates, and Canadian Government officials.

This is an urgent warning. There is a new killer Asian Hornet that’s now loose and wrecking havoc across the planet. Theresa Tam is warning that one sting results in horrible anal leakage. Which, health officials from the WHO and CDC say, and I quote: “could cause contamination of the World’s water supply “. Both Theresa Tam and Justin Trudeau are now telling Canadians you may be locked in your houses for the balance of this decade. And if you absolutely have to go outside for any reason whatsoever. All Canadians will be required to wear a diaper on the outside of their clothing in order to contain the leakage. The Government is also warning that if Canadians don’t obey this new lockdown order. They are going to bring back Greta Thunberg to yell at us not just every day. But every minute of every day on every radio station and television station across the planet. I’m giving you forewarning so that you can get to Costco ASAP and get a three year supply of diapers.

Hang in there. We’re all in this together.

Jun 2, 2020 - 4:13pm

Just want to remind you AGX

just who your bible toting, constitution violating, and most singular violator of responsible gubmint spending hero is. Hypocrisy if you can't call him out while you call out those who stand in his and apparently, your way (anyone on the left).

PS- You brought this up with your cry of "those who blame others" in an earlier post.

Oskar- Of course, he asked "can I grab your pussy" or the women said, "you can grab my pussy don". Alrighty then.

Jun 2, 2020 - 4:11pm

You just confirmed what I

You just confirmed what I said. Thanks.

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Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Forum Discussion

by argentus maximus, 25 min 36 sec ago
by jack3617, Aug 7, 2020 - 5:51pm
by Titus Andronicus, Aug 7, 2020 - 5:13pm
by jack3617, Aug 7, 2020 - 5:06pm
by Steve S, Aug 7, 2020 - 1:59pm