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Prelude to Crisis
Prelude to Crisis Simple ConceitRadical ActionsBallooning Balance SheetMerry Christmas and the Happiest New Year Ignoring problems rarely solves them. You need to deal with them—not just the effects, but the underlying causes, or else they usually get worse. The older you get, the more you know that is true in almost every area of life. […]
Helicopter Money Is Here: How The Fed Monetized Billions In Debt Sold Just Days Earlier
Helicopter Money Is Here: How The Fed Monetized Billions In Debt Sold Just Days Earlier The Fed’s charter prohibits its from directly purchasing bonds or bills issued by the US Treasury: that process is also known as monetization and various Fed chairs have repeatedly testified under oath to Congress that the Fed does not do […]
Jim Bianco Says This Is QE, Like Y2K
Jim Bianco Says This Is QE, Like Y2K In contrast to Hussman, Jim Bianco, at Bianco Research says the Fed’s repo actions are QE. Earlier today I posted, Hussman Sides with Powell: It’s Not QE4. If Hussman convinced you the Fed was not conducting QE, I will give you a chance to change your mind again. […]
Dr. Fed Frankenstein Kept Alive by Zombies
Dr. Fed Frankenstein Kept Alive by Zombies Did you know Dr. Frankenstein created a monster that stays alive to this day by eating zombies? Neither did the zombies. Neither, apparently, did Dr. Frankenstein. In fact, the zombies, being braindead as zombies are, do not realize that they are also keeping alive the diabolical doctor who […]
A Major Bank Admits QE4 Has Started, And That Stocks Are Rising Because Of The Fed’s Soaring Balance Sheet
A Major Bank Admits QE4 Has Started, And That Stocks Are Rising Because Of The Fed’s Soaring Balance Sheet There was a period of about two months when some of the more confused, Fed sycophantic elements, would parrot everything Powell would say regarding the recently launched $60 billion in monthly purchases of T-Bills, and which […]
The Ethics of a Gold Standard
The Ethics of a Gold Standard The efficacy of a metallic monetary system is beyond dispute at least among real economists which eliminates just about 95% of whom are now engaged in the “profession.” Money, which gold is, allows for specialization, the division of labor, and provides the means for mankind to escape from barter and, […]
Jim Rickards Warns that Tsunami of Debt Could Upend the Economy
Jim Rickards Warns that Tsunami of Debt Could Upend the Economy At some point, an economic problem deepens so much that the piper has to be paid. Both in the U.S. and globally, one of those problems appears to be mountains of debt. Jim Rickards recently issued a dire proclamation about the global debt situation: Current global debt levels are simply […]
Life Comes At Us Way Too Fast: One Banker’s Striking Explanation Why Nothing Makes Sense Any More
Life Comes At Us Way Too Fast: One Banker’s Striking Explanation Why Nothing Makes Sense Any More Deutsche Bank’s postmodern philosopher-cum-credit strategist Aleksandar Kocic, who missed his true calling and instead of writing a sequel to Ulysses, Finnegan’s Wake or some other pomo stream of consciousness piece in the style of Lacan, Derrida, Deleuze (or […]
Farewell to Paper Money?
Farewell to Paper Money? A decade or more ago, I began to discuss with associates the possibility of governments and banks colluding to eliminate physical cash. Back then, the idea struck most everyone as poppycock, that governments could never get away with it. I didn’t write on the subject until 2015, when several countries had […]
Guggenheim’s Minerd Warns Of A Nearing ‘Minsky Moment’ That Could “Reset” Asset Prices
Guggenheim’s Minerd Warns Of A Nearing ‘Minsky Moment’ That Could “Reset” Asset Prices Guggenheim Partners’ Scott Minerd warned in a new market outlook titled “From the Desk of the Global CIO: Risk and Reward of Successful ‘Mid-Cycle’ Rate Cuts” that recent 75bps rate cuts by the Jerome Powell–run Federal Reserve had created a similar environment today to 1998 when central […]
The Wealth Redistribution Scam that Is “Inflation”
The Wealth Redistribution Scam that Is “Inflation” The world over people are told that central banks pursue “price stability” by making sure that consumer goods prices do not rise by more than 2 percent per annum. This is, of course, a big sham. If the prices of goods rise over time, it does not take […]
Repocalypse: The Second Coming
Repocalypse: The Second Coming This little monster that feeds beneath the surface of global banking at its core briefly raised one ugly eye out of the water as 2018 turned into 2019. I wrote back then that the interest spike we saw in the kind of overnight interbank lending known as repurchase agreements (repos) was […]
Half Of France’s National Train System “Grinds To A Halt” As Labor Unions Strike On Christmas Week
Half Of France’s National Train System “Grinds To A Halt” As Labor Unions Strike On Christmas Week French labor unions won’t be giving any presents to citizens who want to travel by train this Christmas. That’s because strikes by transport workers against the government’s pension-reform plan have shut down half of national train services this weekend, with […]
My Main Worry is Europe
My Main Worry is Europe Can it get any better than this? That’s the question investors are asking themselves after an exceptional year. Despite a slowdown in the global economy and increasing trade tensions, almost every asset class is up for the past twelve months. Mohamed El-Erian Mohamed El-Erian is convinced that the world is […]
