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Elites “Going Rogue” Suggests The Global Neoliberal Architecture Is Collapsing
Elites “Going Rogue” Suggests The Global Neoliberal Architecture Is Collapsing Listen carefully. That is the sound of going rogue – and bond yields further through the floor. Yesterday UK PM Boris Johnson announced he is going to prorogue–or close–Parliament, meaning that when MPs come back to sit next week they will only do so briefly, […]
Argentina Proposes IMF-Humiliating ‘Debt Re-Profile’ As It Soft-Defaults For 9th Time Since Independence
Argentina Proposes IMF-Humiliating ‘Debt Re-Profile’ As It Soft-Defaults For 9th Time Since Independence Less than a week after we suggested The IMF is in for humiliation over the collapse of Argentina – just months after its unprecedented $56 billion liquidity crisis bailout – it appears the South American nation is set to default for the ninth time since […]
In Ominous Warning, Dalio Says The Current Period Is Just Like 1935-1945
In Ominous Warning, Dalio Says The Current Period Is Just Like 1935-1945 Something has dramatically changed in the establishment’s view of central banking… and of the future. As we reported earlier this week, recently we have observed a surprising spike in criticism of central banks by establishment figures, in some cases central bankers themselves, most […]
The Mechanics of Absurdity
The Mechanics of Absurdity Over the past few decades, the central banks, including the Federal Reserve (Fed), have relied increasingly on interest rates to help modify economic growth. Interest rate management is their tool of choice because it can be effective and because central banks regulate the supply of money, which directly effects the cost to borrow […]
An Indicator With A 100% Perfect Track Record Of Predicting Recessions Says That Another One Is Coming
An Indicator With A 100% Perfect Track Record Of Predicting Recessions Says That Another One Is Coming You can believe that we will somehow beat the odds this time if you want, but history is completely against you. One of the biggest reasons why there is so much anxiety on Wall Street right now is because of […]
Peter Schiff Compares Trade War to “Battle at Little Bighorn”
Peter Schiff Compares Trade War to “Battle at Little Bighorn” Political commentators are increasingly critical of U.S. trade policy, particularly tariffs and the trade war with China. Radio host Peter Schiff went so far as to compare U.S. trade policies to General Custer and the Battle of Little Bighorn. Meanwhile, some economic red flags seem to support […]
The Fantasy of Central Bank “Growth” Is Finally Imploding
The Fantasy of Central Bank “Growth” Is Finally Imploding Having destroyed discipline, central banks have no way out of the corner they’ve painted us into. It was such a wonderful fantasy: just give a handful of bankers, financiers and corporations trillions of dollars at near-zero rates of interest, and this flood of credit and cash into […]
What My Friends on the Left Need to Know About the Green New Deal
What My Friends on the Left Need to Know About the Green New Deal “Nowhere has our public discourse failed us more egregiously than on the environment and climate change,” I wrote last year while reviewing the first sketches of a proposed Green New Deal. It’s since become a buzzword, but until now it remained only vaguely […]
Dead Meat in Jackson Hole
Dead Meat in Jackson Hole The Pointlessness of Negative Yields If there are any virtues of debt instruments with negative yields we have yet to realize them. Certainly, we understand that as bond yields fall, bond prices rise, and bond investors are rewarded with capital appreciation. But when capital is appreciating as a consequence of negative yields, […]
THE WOLF STREET REPORT: How Even “Low” Interest Rates Screw Up the Economy
THE WOLF STREET REPORT: How Even “Low” Interest Rates Screw Up the Economy Interest rates don’t have to be negative to make a mess in the era of “Secular Stagnation.” (11 minutes)
Peter Schiff: Gold Is Not Going to Stop This Time
Peter Schiff: Gold Is Not Going to Stop This Time Gold has continued to push upward. The latest catalyst was another escalation of the trade war. Gold briefly moved above $1,550 in dollar terms. But it has done even better in relation to other currencies. In fact, the yellow metal is at record highs in nearly […]
Bangladesh’s Central Bank Offers Amnesty To Delinquent Borrowers, Prompting Mass Default
Bangladesh’s Central Bank Offers Amnesty To Delinquent Borrowers, Prompting Mass Default Bangladesh’s Central Bank in May introduced an amnesty program that allowed delinquent borrowers to make a small upfront payment and then pay off the rest of their debt over 10 years at favorable interest rates, according to Bloomberg. However, the plan also triggered a rush by healthy […]
Tumbling Yuan Sends Ripples Through Petrochemical Market
Tumbling Yuan Sends Ripples Through Petrochemical Market The trade war between China and the United States has triggered a global economic slowdown thanks to far-reaching tensions between the world’s two biggest economies. Last Friday China lobbed their most recent retaliation back at the United States by announcing tariffs on an additional $75 billion worth of […]
Possible Currency War Would Be A Disaster For Oil
Possible Currency War Would Be A Disaster For Oil Oil prices plunged on Friday after the U.S. and China both announced tariff hikes in tit-for-tat fashion. At the same time, markets opened on a positive note early Monday after President Trump struck a more conciliatory tone. But the respite could be brief. Global financial markets are completely at the […]
Rabobank: “The US Will Simply Not Allow A New Reserve Currency Without A Fight”
Rabobank: “The US Will Simply Not Allow A New Reserve Currency Without A Fight” “Peace for our time” Despite the fact that the German IFO survey was ‘I-ful’, with the official word being that the outlook is “increasingly dire”, and that US core durable goods were -0.4% vs. flat expected, both of which confirm that […]
