Net Debt Is Increasing Faster Than EBITDA


Reading Time: 4 minutes The drug Wall Street is addicted to is debt. Like a drug addict, Wall Street needs an intervention to solve this problem. Usually interventions occur in the form of a deleveraging which is caused by an increase in default rates and rate hikes by the Fed. Although the Fed delayed…CONTINUE READING

No Economic Stimulus, No Productivity Growth


Reading Time: 4 minutes In the recent few weeks the reflation trade has unwound as the Russell 2000 is now negative for the year, the ten-year bond yield has plummeted to 2.2374%, and bank stocks have fallen about 9% since March 1st. To be clear, the Russell 2000 initially rallied after Trump’s election because…CONTINUE READING