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Swedish Central Bank Makes U-Turn on Cash as NIRP is Ending
Swedish Central Bank Makes U-Turn on Cash as NIRP is Ending Cash is less of a threat to central bank policies when interest rates rise above zero. Sweden’s Riksbank has become the first central bank in the 21st century to take concrete measures to ensure that cash does not disappear as a means of payment from […]
“Peak QE”: This Is What Share Of The Market Central Banks Now Own
“Peak QE”: This Is What Share Of The Market Central Banks Now Own After a decade of unprecedented liquidity injections by central banks to preserve the western financial system, global QE has peaked. First, the aggregate balance sheet of major central banks started to shrink earlier in the year, a reversal that took investors many […]
Globalization Has Hollowed Out Rural America
Globalization Has Hollowed Out Rural America The value of local control and local capital far exceed the pathetic “savings” reaped from shoddy commoditized goods. What do we make of an economy in which a handful of bubblicious urban areas are magnets for jobs and capital while rural communities have been hollowed out? The short answer is that this progression of […]
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition For the past few years, homeowners just about everywhere have been able to finesse life’s problems by thinking “at least my house is going up.” This home equity accretion allowed them to buy stuff on credit, safe in the knowledge that even as they maxed […]
Global Bloodbath: World Stocks Puke Over $8 Trillion As US Markets Collapse
Global Bloodbath: World Stocks Puke Over $8 Trillion As US Markets Collapse Aaaaaand, it’s gone! Global capital markets are down five weeks in a row, losing just under $9 trillion – the biggest, fastest drop since Lehman… (around $8.2 trillion from global equity markets) Chinese stocks managed to end the week green thanks to numerous […]
Why Canadian Tar Sands Oil May Be Doomed
Why Canadian Tar Sands Oil May Be Doomed At current prices, Canadian tar sands oil producers are losing money on every barrel of oil they dig out. Despite signs earlier this year the industry would “turn profitable in 2018,” a much more likely scenario at this point is a fourth straight year of losses. Producers are forced […]
The Trade War Is Getting Worse For U.S. Businesses
The Trade War Is Getting Worse For U.S. Businesses President Donald Trump’s trade war is making things even worse than before for businesses in the United States. The trade war has been dragging on for four long months now, and the pain is being felt financially. Companies’ earlier worries are starting to translate into actual financial pain as new orders […]
Eurozone will Collapse – There is No Other Choice Economically
Eurozone will Collapse – There is No Other Choice Economically QUESTION: Mr. Armstrong; I can see what you have been arguing about the faulty design of the euro. After the EU rejected Italy’s budget, is there any hope left for Italy? RS, Rome ANSWER: For those who do not follow Europe closely, the European Union […]
Friday Hasn’t Even Started Yet, But It’s Already Ugly
Friday Hasn’t Even Started Yet, But It’s Already Ugly The FANGMAN stocks went to heck afterhours. Just a note to show how decrepit and ephemeral the enthusiasm for stocks is. So far in October, the S&P 500 has booked 13 losing days, including October 10, when the index dropped 3.3%, and October 24, when it […]
“The Central Bank Will Intervene”: PBOC Said To Sell Reserves If Yuan Drops Below 7.00
“The Central Bank Will Intervene”: PBOC Said To Sell Reserves If Yuan Drops Below 7.00 According to the latest data from China’s SAFE, net FX outflows from China picked up to US$21BN in September (vs. US$11BN in August) and the highest since mid-2017 with Goldman noting that “outflow might have increased moderately further in October, but […]
The Establishment Must Undermine Alternative Economists As Crisis Unfolds
The Establishment Must Undermine Alternative Economists As Crisis Unfolds There is a notion within the mainstream media that certain economic indicators are unassailable; they never stop being reliable. The way they look at and report on the system is rather outdated and extremely limited in scope; showcasing and cherry picking only net-positive statistics, even if […]
Petro-States Face Extinction
Petro-States Face Extinction Petro-states urgently need to begin diversifying their economies, shifting away from oil production, or else they face financial risks in the years ahead. That conclusion comes from the IEA’s new report, “Outlook for Producer Economies,” which warns that a changing energy system threatens the economies of oil-producing countries. The threat comes in […]
Did The Nasdaq Bubble Just Burst?
Did The Nasdaq Bubble Just Burst? Regular readers will recall when back in March, Bank of America cautioned that after the tech bubble in 2000, the housing bubble in 2006, we were witnessing the third biggest bubble of all time: the e-Commerce bubble. Well, after several weeks of sharp volatility which has hammered tech stocks, […]
“Tech-Wrecked”: Global Stocks, US Futures Plunge As Panic Selling Returns
“Tech-Wrecked”: Global Stocks, US Futures Plunge As Panic Selling Returns “The good news is: It’s Friday. The bad news is: everything else.” For traders, Bloomberg’s summary of today’s early morning action couldn’t be more spot on. On the last day of a turbulent week, global market turmoil is back with a vengeance and traders in […]
Kenny Polcari: Fed Can’t Stop Raising & Dow Could Drop 1,000 on Dems Winning Senate
Kenny Polcari: Fed Can’t Stop Raising & Dow Could Drop 1,000 on Dems Winning Senate My friend Kenny Polcari joins me again to talk about: 1. The recent volatility in the markets 2. Why he thinks the Fed must continue to raise rates 3. Why he thinks Democrats taking the Senate could lead to 1,000 […]
