Hoisington Quarterly Review

Hoisington Investment Management has released their latest Quarterly Review, and it's certainly worth a read if you want to understand the Federal Reserve's capitulation on policy normalization and the stagnating global economy. The global economic slowdown should really not be surprising considering the massive amounts of stimulus by global central banks which have resulted in massive amounts of debt and economic bifurcation. The problem with quantitative easing and all of the central bank intervention is that liquidity has not not been used for productive, organic growth. As the debt keeps piling up, the economic benefit [...]