Cumberland Advisors

FOMC policy makers have emphatically stated that they will maintain an accommodative monetary policy until the unemployment rate reaches 6.5%. However, in recent speeches and testimony, Chairman...

On Monday of this week, Stockton, California won permission from a state judge to remain under court protection after it was found that creditors did not negotiate in good faith with the city. This...

Despite extensive advance signals, the Bank of Japan (BOJ) managed to surprise global markets Thursday, April 4th, with the magnitude and extent of the policy moves it announced. Many market analysts...

Among all the negative consequences of the Cyprus banking crisis and the disastrous way that policy was framed, there is a silver lining to the problem. That is: the Europeans may have inadvertently...

While much has been written about Wednesday’s FOMC decision and Chairman Bernanke’s press conference, some important points have been missed that may shed new light on the state of the...

Just 20 months ago the three largest banks in Cyprus passed the European ‘stress tests’ with flying colors, reports Ron DeLegge of ETFguide. The latest estimates are 16 billion euros...

Several world travelers are sitting at lunch in Paris, immersed in speculation. Greek banks in Cyprus were ring-fenced. Cypriot banks were not.Why?Enmity At WorkIf Greek banks with branches in Cyprus...

The madness of this decision about Cyprus is unfathomable. Readers can check the news flow for details. Essentially, the European finance leadership has confiscated depositor funds in order to bail...

A cash reserve has been raised in our U.S. ETF accounts. A partial cash reserve has been raised in non-U.S. ETF accounts. Our clients will see them in the online-access versions of their account...

The euro zone is expected to remain in recession, recovering slowly in the second half of this year. The European Central Bank (ECB) recently revised downward its GDP forecast for the year to -0.5%....

World events are getting more complicated. U.S. markets are ignoring these issues as central bank zero-interest-rate policies continue to drive asset prices higher.When things are event-driven, an...

After two decades of financial repression and deflationary suffering, a new government has changed policy in a fierce way. Japan now seeks inflation. It will get it. It seeks higher asset prices. It...

Payroll data shows that the economy continues to recover. The pace of growth may be picking up, given the 200,000-plus non-farm payroll number. As we have been saying for a long time, the power of...

For months we have stated that monetary policy around the world is a powerful engine for raising asset prices. We continue to argue that classic and typical valuation methods have to be set aside in...

On Friday, the governor of Michigan, Rick Snyder, announced that the State of Michigan would seek to take over the financial management of the City of Detroit within two weeks. The governor would...

Gretchen Morgenson deserves five radiant gold stars for her Sunday NY Times “Fair Game” column, "Don't Blink, or You'll Miss another Bailout" (New York Times, Sunday Business Section, page...