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Markets Rely on Accurate and Honest Information — But Governments Want the Opposite
Markets Rely on Accurate and Honest Information — But Governments Want the Opposite Have you ever worked with people you couldn’t trust to tell you the truth? It isn’t pretty. Without the ability to rely on what you’ve been told (or that you’ve been told everything relevant), effective cooperation at almost every margin of choice […]
The Punishing Consequences of Global Currency Wars, Visualized
The Punishing Consequences of Global Currency Wars, Visualized As I’ve traveled throughout Asia over the past decade, I’ve noticed that the punishing consequences of global currency wars, in which Central Bankers have greatly devalued the purchasing power of all currencies around the world, can be observed not just when spending money to purchase goods and […]
“Money’s Not Worth Anything Anymore” – Ex-Credit Suisse CEO Blasts “Crazy” Negative Rates
“Money’s Not Worth Anything Anymore” – Ex-Credit Suisse CEO Blasts “Crazy” Negative Rates Oswald Gruebel, who served as Credit Suisse CEO from 2004 to 2007 and as UBS Group AG’s top executive from 2009 to 2011, has slammed ECB policy in an interview with Swiss newspaper NZZ am Sonntag. “Negative interest rates are crazy. That means […]
What’s Holding Up the Market?
What’s Holding Up the Market? The Fed’s nearly free money for financiers policies in support of the Super-Rich do not exist in a vacuum–the disastrous consequences are already baked in. What’s holding up the U.S. stock market? The facile answer is the Federal Reserve (“the Fed has our back,” “don’t fight the Fed,” etc.) but this doesn’t actually […]
The Repo Market Incident May Be The Tip Of The Iceberg The Federal Reserve has injected $278 billion into the securities repurchase market for the first time. Numerous justifications have been provided to explain why this has happened and, more importantly, why it lasted for various days. The first explanation was quite simplistic: an unexpected tax […]
ECB “Whistleblowers” Emerge: Former Central Bankers Cry Out Against Draghi’s Monetary Insanity
ECB “Whistleblowers” Emerge: Former Central Bankers Cry Out Against Draghi’s Monetary Insanity It’s not just disgruntled CIA officials that have decided the best way to stage a coup is by way of “whistleblowing” – former central bankers are using a similar approach when it comes to the root cause of all of society’s ills: failed […]
Weekly Commentary: Resurrecting M2
Weekly Commentary: Resurrecting M2 This week’s disappointing ISM reports dominated business headlines: “US Manufacturing Survey Shows Worst Reading in a Decade.” “U.S. Factory Gauge Hits 10-Year Low as World Slowdown Widens.” “U.S. Manufacturers Experience Worst Month Since 2007-2009 Great Recession.” “ISM Services Index Hits Three-Year Low, Missing All Estimates.” “Services Survey Shows Economy is Weaker […]
Green Party Debates Green New Deal
Green Party Debates Green New Deal Despite the furor over the Green New Deal (GND), many of its supporters have no idea of the wide variety of views on it, especially within the Green Party (GP), where it originated in the US. From June through August, 2019 Missouri Greens held public discussions contrasting at least […]
As Hong Kong ATMs Run Out Of Cash, Central Bank Steps In To Prevent “Panic Among The Public”
As Hong Kong ATMs Run Out Of Cash, Central Bank Steps In To Prevent “Panic Among The Public” As the violence in Hong Kong escalates with every passing week, culminating on Friday with what was effectively the passage of martial law when the local government banned the wearing of masks at public assemblies, a colonial-era law […]
Bank Crisis Hits India: “Bank Stops Functioning, People Crying Outside Bank Branches”
Bank Crisis Hits India: “Bank Stops Functioning, People Crying Outside Bank Branches” The Punjab Maharashtra Co-operative Bank (PMC), in India, has been caught cooking the books and misreporting non-preforming loans (NPL) of Mumbai-based real estate developer Housing Development and Infrastructure Ltd (HDIL). As Reuters reports, PMC hid the bad loans with 21,000 fictitious accounts, which has spooked depositors, […]
An Inflationary Depression
An Inflationary Depression Financial markets are ignoring bearish developments in international trade, which coincide with the end of a long expansionary phase for credit. Both empirical evidence from the one occasion these conditions existed in the past and reasoned theory suggest the consequences of this collective folly will be enormous, undermining both financial asset values […]
What the Hell is the ECB Doing?
What the Hell is the ECB Doing? Danielle DiMartino poses an interesting question regarding the ECB. I have a set of answers. What is the ECB Doing? I started thinking about that question weeks ago. I have a set of answers and even started writing this post before DiMartino brought it to the forefront. There […]
Song Hongbing’s “Currency Wars” – a review
Song Hongbing’s “Currency Wars” – a review A revolutionary book from China, where it became a bestseller and is hushed up in Europe for (un)known reasons Did you know that the FED is actually a private bank and still has the right to issue dollars? Did you know that for over 200 years private bankers […]
September Class 8 Heavy Duty Truck Orders Collapse 71%
September Class 8 Heavy Duty Truck Orders Collapse 71% Preliminary Class 8 order data for September is starting to trickle in and, like the data preceding it so far this year – it’s ugly. Class 8 orders were crushed 71% in September, reaching 12,600 units, according to Baird and Morgan Stanley. This follows a 79% plunge in August. […]
NY Fed Announces Extension Of Overnight Repos Until Nov 4, Will Offer 8 More Term Repos
NY Fed Announces Extension Of Overnight Repos Until Nov 4, Will Offer 8 More Term Repos Anyone who expected that the easing of the quarter-end funding squeeze in the repo market would mean the Fed would gradually fade its interventions in the repo market, was disappointed on Friday afternoon when the NY Fed announced it […]
