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The Precog Fed: Vice Chair Clarida Says Fed Shouldn’t Wait For Economy To Turn Down To Cut Rates
The Precog Fed: Vice Chair Clarida Says Fed Shouldn’t Wait For Economy To Turn Down To Cut Rates There was something bizarre in yesterday’s latest Beige Book: it painted an unexpectedly strong picture of the economy. Here, again, are the key points we pulled from the summary of various regional Feds’ takes on the current state of […]
The Three Ds of Doom: Debt, Default, Depression
The Three Ds of Doom: Debt, Default, Depression “Borrowing our way out of debt” generates the three Ds of Doom: debt leads to default which ushers in Depression. Let’s start by defining Economic Depression: a Depression is a Recession that isn’t fixed by conventional fiscal and monetary stimulus. In other words, when a recession drags on […]
“Abrupt, Alarming” Leveraged Loan Collapse Highlights Fragile Nature Of Credit Markets
“Abrupt, Alarming” Leveraged Loan Collapse Highlights Fragile Nature Of Credit Markets A leveraged loan taken out by a company called Clover Technologies about five years ago lost about a third of its value without warning over the past week, according to Bloomberg. The “alarming” and “abrupt” collapse of the recycling company’s debt surprised even sophisticated investors that deal in […]
In Major Threat To Dollar’s Reserve Status, Russia Offers To Join European SWIFT-Bypass
In Major Threat To Dollar’s Reserve Status, Russia Offers To Join European SWIFT-Bypass Three weeks after a meeting between the countries who singed the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), which was ditched by US, French, British and German officials said the trade mechanism which was proposed last summer – […]
The Dollar, Not Crypto, Is a National Security Issue
The Dollar, Not Crypto, Is a National Security Issue U.S. Treasury Secretary Steve Mnuchin piled on to comments made recently by President Donald Trump by calling cryptocurrencies a “national security issue.” Bitcoin and crypto proponents more broadly have long wondered if (and how) the government of the United States would recognize the slow but steady encroachment of decentralized assets, […]
“We’re Never Going To Go Away From Zero:” Presenting Kyle Bass’ Latest Trade
“We’re Never Going To Go Away From Zero:” Presenting Kyle Bass’ Latest Trade Here at Zero Hedge, we’ve dedicated plenty of attention to signs of “Japanification” in European bond markets… … with the issue taking on even more urgency now that we have influential bond strategists earnestly advocating the purchase of equities by the ECB, and the […]
Trump’s Fight With The Fed Over Interest Rates Is A Scripted Farce
Trump’s Fight With The Fed Over Interest Rates Is A Scripted Farce There is a very bizarre narrative being circulated in the mainstream economic media and it goes a little something like this: “The Federal Reserve has capitulated on liquidity tightening yet the US economy is “stronger than ever”, isn’t that weird?” There are a […]
The Rise of Insanity
The Rise of Insanity Everybody is trampling all over themselves to raise bullish targets. $SPX 3,300, $SPX 3,350, $SPX 3500, do I hear Dow 31,500? Yes I am. The big driver of course the Fed and central banks cutting rates again to save the global economy. And amid all the hype and excitement you see headlines like […]
Global Central Banks “Are Trapped By Their Own Inflation Targets”
Global Central Banks “Are Trapped By Their Own Inflation Targets” Negative Rates Would Lead To #Chaos Central bankers attending the G-7 meeting are sounding remarkably coordinated in their message. The global economy is growing but inflation isn’t. And that, along with the oft-cited global headwinds, means they’re ready and able to add more liquidity to the system. […]
Bank Run: Deutsche Bank Clients Are Pulling $1 Billion A Day
Bank Run: Deutsche Bank Clients Are Pulling $1 Billion A Day There is a reason James Simons’ RenTec is the world’s best performing hedge fund – it spots trends (even if they are glaringly obvious) well ahead of almost everyone else, and certainly long before the consensus. That’s what happened with Deutsche Bank, when as […]
Recession Looms: Cass Freight Index Negative for 7th Month
Recession Looms: Cass Freight Index Negative for 7th Month According to Cass, “Freight shipments signal economic contraction”. The Economic Outlook from Freight’s Perspective is not promising. With the -5.3% drop in June following the -6.0% drop in May, we repeat our message from last month: the shipments index has gone from “warning of a potential slowdown” to […]
Global Debt Hits $246 Trillion, 320% Of GDP, As Developing Debt Hits All Time High
Global Debt Hits $246 Trillion, 320% Of GDP, As Developing Debt Hits All Time High According to the latest IIF Global Debt Monitor released today, debt around the globe hit $246 trillion in Q1 2019, rising by $3 trillion in the quarter, and outpacing the rate of growth of the global economy as total debt/GDP […]
New Multi-year Gold Rally Has Emerged
New Multi-year Gold Rally Has Emerged The dollar price of gold has been on a roller-coaster ride for the past six years. But the past six weeks have been a turbocharged version of that. Investors should expect more of the same for reasons explained below. The six-year story is the more important for investors and […]
It’s Been a Great Recession for a Few; Let’s Do it All Again!
It’s Been a Great Recession for a Few; Let’s Do it All Again! This month the economic expansion brought to you by your Federal Reserve and by US government largess becomes the longest expansion in the history of the United States! That’s something, right? Something? Let’s take an honest look at what we now call […]
Peter Schiff: We’re Heading for Recession No Matter What the Fed Does With Rates
Peter Schiff: We’re Heading for Recession No Matter What the Fed Does With Rates Jerome Powell took center stage last week and the Federal Reserve chair didn’t do anything to dampen expectations of a rate cut. His comments sent both stocks and gold higher. Peter Schiff recently appeared on RT Boom Bust with University of Amherst economics […]
