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Currency Which Expires – That’s the Solution – Or Just Cancel it all?
Currency Which Expires – That’s the Solution – Or Just Cancel it all? Back during the Great Depression, there were people who theorized that gold hoarding was preventing economic recovery. There is always this same theory that people who save hoarding their money and are not spending it results in the lack of a recovery […]
Farmageddon Is Real And Farmers Are Suffering
Farmageddon Is Real And Farmers Are Suffering Farmageddon is real and very painful for a small segment of America. According to the Book of Revelation in the New Testament of the Bible, Armageddon is the prophesied location of a gathering of armies for a battle during the end times. Today many farmers living in America’s […]
China Cuts Required Reserve Ratio Releasing $126BN In Liquidity; Yuan Surges
China Cuts Required Reserve Ratio Releasing $126BN In Liquidity; Yuan Surges As had been widely previewed in China’s official financial press in recent days, on Friday the PBOC announced it would cut the required reserve ratio (RRR) for all banks by 0.5% effective Sept. 16 (and by 1% for some city commercial banks, to take effect in […]
The king of Ponzi schemes was an amateur compared to this
The king of Ponzi schemes was an amateur compared to this Ten years ago, a man was forever separated from his $40,000 slippers. Posing as an investment firm for decades, Bernie Madoff’s company defrauded thousands of investors out of their money. In 2009 Madoff was sentenced to 150 years in prison for running the $64 […]
It’s Happening Again: Maersk Halts Asia-Europe Loop Amid Global Slowdown
It’s Happening Again: Maersk Halts Asia-Europe Loop Amid Global Slowdown Growth in the world continues to collapse into late summer, so much so that Maersk and Mediterranean Shipping Company (MSC) had to “temporarily suspend” their AE2/Swan Asia to North Europe loop until mid-November, removing 20,000 twenty-foot equivalent unit (TEU) a week from trade, reported The Loadstar. […]
Blackrock CIO: The Endgame Is Coming And Central Banks Will Debase Everything To Spark Inflation
Blackrock CIO: The Endgame Is Coming And Central Banks Will Debase Everything To Spark Inflation Blackrock’s Chief Investment Officer, Rick Rieder, best known perhaps for recently suggesting that the ECB should monetize stocks, writes in the Blackrock blog today and highlights the economic policy state-of-play today, and where it may lead to should economic growth falter, productivity not materialize, and […]
Albert Edwards On How It All Ends: “In The Next Recession, The S&P Will Drop Below 666”
Albert Edwards On How It All Ends: “In The Next Recession, The S&P Will Drop Below 666” Back in August, we wrote that after decades of waiting, for Albert Edwards vindication was finally here – if only outside the US for now – because as per BofA calculations, average non-USD sovereign yields on $19 trillion in global debt […]
The Ugly Truth About The Trade War
The Ugly Truth About The Trade War This past week was an interesting exercise in false expectations and assumptions. Once again, trade war theatrics were used to stall a stock market plunge as insinuations of a possible “deal” were made by Donald Trump, followed by China’s claim that maybe, just maybe, they would not immediately […]
Blain’s Morning Porridge – Sept 5th 2019
Blain’s Morning Porridge – Sept 5th 2019 “Slipping down Raki and reading Maynard Keynes…” We really should focus on the signals emanating from bond markets. Forget the current political madness – yesterday saw a number of key moments for bond markets: UK Chancellor Sajid Javid hitting the spend button in the UK (whether it actually […]
EU Bank Bosses Warn Of “Grave Consequences” If ECB Keeps Cutting Rates
EU Bank Bosses Warn Of “Grave Consequences” If ECB Keeps Cutting Rates The ECB’s imposition of negative interest rates have created an “absurd situation” in which banks don’t want to hold deposits, rages UBS CEO Sergio Ermotti, arguing that this policy is hurting social systems and savings rates. Ermotti is not alone. As European bank bosses […]
Negative Interest Rates Threaten the Financial System
Negative Interest Rates Threaten the Financial System Markets may need to be rebuilt on a new set of assumptions, but we don’t know what those should be or how they would work. Jim Bianco is the President and founder of Bianco Research, a provider of data-driven insights into the global economy and financial markets. He may have […]
“Deep State” Dudley Doubles Down: “Explains” What He Really Meant In Scandalous Anti-Trump Op-Ed
“Deep State” Dudley Doubles Down: “Explains” What He Really Meant In Scandalous Anti-Trump Op-Ed There is a saying, when in a hole stop digging. Unfortunately for former Goldman managing director and NY Fed president, Bill “let them eat iPads” Dudley, that is a saying he is not familiar with, and one week after his stunning Bloomberg […]
“Big Short” Investor Michael Burry Explains How Index Funds Will Trigger The Next Crash
“Big Short” Investor Michael Burry Explains How Index Funds Will Trigger The Next Crash After years of radio silence, Dr. Michael Burry – the small-time stockpicker who rose to fame for his bets against subprime mortgage bonds featured in the book (and later film) “the Big Short” – is once again doing the media rounds, […]
Modern Monetary Theory (MMT) Has An Argentina Problem
Modern Monetary Theory (MMT) Has An Argentina Problem Proponents of Modern Monetary Theory emphasize that a country that controls its own currency and borrows in its own currency, like the United States, cannot default on its debt. This is because the central bank can, if necessary, “print” the money needed to pay the government’s creditors… — Econofact The MMT […]
False hopes for a Green New Deal
False hopes for a Green New Deal If the ‘Green New Deal’ is our best answer to the climate crisis, then we have no answer to the climate crisis. In recent months the ‘Green New Deal’ has given hope to many on the Left as a promising solution to climate breakdown. Having been championed by […]
