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Conflict between Fiscal & Monetary Policy
Conflict between Fiscal & Monetary Policy We are moving into a crisis of monumental proportions. There has been a serious fundamental problem infecting economic policy on a global scale. This conflict has been between monetary and fiscal policy. While central banks engaged in Quantitative Easing, governments have done nothing but reap the benefits of low-interest rates. This […]
Don’t Expect A Central Bank Bailout This Time, ECB’s Nowotny Warns
Don’t Expect A Central Bank Bailout This Time, ECB’s Nowotny Warns To all those hoping for a sign or signal from central bankers that the recent correction in US stocks was necessary and sufficient for intervention, here are some disappointing examples of what they have said recently: “If stock prices or asset prices more generally […]
ECB “In Touch With Market Participants” Over Market Crash; White House “Concerned”
ECB “In Touch With Market Participants” Over Market Crash; White House “Concerned” In a double whammy of panic about the fate of the artificial “wealth effect” created thanks to $20 trillion in central bank liquidity, officials at both the White House and Europe’s largest hedge fund expressed concerns about the market rout that saw the […]
It’s Looking A Lot Like 2008 Now…
It’s Looking A Lot Like 2008 Now… Did today’s market plunge mark the start of the next crash? Economic and market conditions are eerily like they were in late 2007/early 2008. Remember back then? Everything was going great. Home prices were soaring. Jobs were plentiful. The great cultural marketing machine was busy proclaiming that a […]
ECB Forced to postpone New Stricter Credit Rules Indefinitely
ECB Forced to postpone New Stricter Credit Rules Indefinitely The ECB’s was forced to suspend its new stricter credit rules indefinitely concerning bad loans. The banks were screaming “you idiot” for it would have pushed way too many banks over the edge, particularly in Italy. With the Italian elections coming in March, the new rules would […]
Our Outlook For 2018 Interest Rates to Stay Low. The Consensus View is That Europe’s Banks Are Recovering But We Are Not So Sure.
OUR OUTLOOK FOR 2018 INTEREST RATES TO STAY LOW. THE CONSENSUS VIEW IS THAT EUROPE’S BANKS ARE RECOVERING BUT WE ARE NOT SO SURE. The Interest Rate Outlook Despite their shortcomings, European banks do not seem on the verge of collapse and few commentators, analysts or policymakers think that there will be any systemic wobbles […]
ECB Spawned Mass Culture of Financial Dependency that’s Now Very Hard to Undo
ECB Spawned Mass Culture of Financial Dependency that’s Now Very Hard to Undo Right at the front of the monetary welfare queue is the government of Italy. As the Eurozone economy continues to grow, pressure is rising on Europe’s biggest bond buyer, the ECB, to withdraw from the market, a process it has already begun. […]
The Municipal Debt Crisis Begins
The Municipal Debt Crisis Begins I have previously reported that about 50% of German municipalities are insolvent. This is a global trend and we are witnessing it in the United States as well. The North Rhine-Westphalian Association of Cities has called for help from the future German federal government as the building crisis among financially weak […]
Transparent citizens, negative interest rates and other crazy ideas of economic experts
Transparent citizens, negative interest rates and other crazy ideas of economic experts In a March paper, Alexei Kireyev of the International Monetary Fund advises abolishing cash without having the citizens aware of the process. First, large banknotes are to be withdrawn from circulation, next limits on cash transactions are to be imposed, then computerization of […]
Stressful Year Ahead for Spanish Banks
Stressful Year Ahead for Spanish Banks The “spillover effects.” Just how much more stress Europe’s banking system can bear will be one of the big questions of 2018. This year was already a pretty stressful year, what with two major Italian banks being put out of their misery while, another, Monte dei Paschi di Siena, […]
Doug Noland: There Will Be No Way Out When This Market Bubble Bursts
Doug Noland: There Will Be No Way Out When This Market Bubble Bursts Financial assets will become toxic to hold This week Doug Noland joins the podcast to discuss what he refers to as the “granddaddy of all bubbles”. Noland, a 30-year market analyst and specialist in credit cycles, currently works at McAlvany Wealth Management and […]
It’s More Than Just the Absences of Acceleration, It’s the Synchronization Where There Should Be None
IT’S MORE THAN JUST THE ABSENCE OF ACCELERATION, IT’S THE SYNCHRONIZATION WHERE THERE SHOULD BE NONE BY JEFFREY P. SNIDER According to the latest ECB figures, as of yesterday total “liquidity” added to the European banking system for that central bank’s ongoing monetary “stimulus” was just shy of €2 trillion. The outstanding balance in the […]
ECB and the Coming Banking Crisis
ECB and the Coming Banking Crisis QUESTION: Mr. Armstrong; Your post of November 16th where you state that the ECB is looking to freeze accounts in a banking crisis, does that mean they will no longer honour the claimed insurance of €100,000 per account? PH ANSWER: No. They will not pretend to eliminate that […]
Protect Your Savings With Gold: ECB Propose End To Deposit Protection
Protect Your Savings With Gold: ECB Propose End To Deposit Protection – Protect Your Savings With Gold: ECB Propose End To Deposit Protection – New ECB paper proposes ‘covered deposits’ should be replaced to allow for more flexibility – Fear covered deposits may lead to a run on the banks – Savers should be reminded […]
Weekly Commentary: “Not Clear What That Means”
Weekly Commentary: “Not Clear What That Means” November 15 – Bloomberg (Nishant Kumar and Suzy Waite): “Hedge-fund manager David Einhorn said the problems that caused the global financial crisis a decade ago still haven’t been resolved. ‘Have we learned our lesson? It depends what the lesson was…’ Einhorn said he identified several issues at the […]
