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Central Banks Are Pointing A Weapon Of Financial Mass Destruction—–Right At The Global Bond Markets
Central Banks Are Pointing A Weapon Of Financial Mass Destruction—–Right At The Global Bond Markets For the first time in its country’s history, Portugal sold 6 month T-bills at a negative yield. The 300 million euros ($333 million) worth of bills due in November 2015 sold at an average yield of minus 0.002%. A negative […]
Pray For Graccident—–It Will Trigger The Demise Of The ECB And The World’s Toxic Regime Of Keynesian Central Banking
Pray For Graccident—–It Will Trigger The Demise Of The ECB And The World’s Toxic Regime Of Keynesian Central Banking It is not surprising that in a few short months Yanis Varoufakis has proven himself to be a thoroughgoing Keynesian statist. After all, what would you expect from an economics PhD who co-authored books with Jamie Galbraith? […]
“It’s A Coup D’Etat,” David Stockman Warns “Central Banks Are Out Of Control”
“It’s A Coup D’Etat,” David Stockman Warns “Central Banks Are Out Of Control” We’re all about to be taken to the woodshed, warns David Stockman in this excellent interview. The huge wealth disparity is “not because of some flaw in capitalism, or Reagan tax cuts, or even the greed of Wall Street; the problem is central […]
Today’s CPI Lesson: The Fed’s 2% Inflation Target Is Completely Stupid
Today’s CPI Lesson: The Fed’s 2% Inflation Target Is Completely Stupid The madness of the Fed’s pending 81 month run of zero interest rates comes down to an inflation subterfuge that has no logical or empirical grounding in real world economics. Essentially, the Keynesians who currently inhabit the Eccles Building have turned all of central banking’s anti-inflation history on its head, saying, […]
David Stockman Interview——-Kick-The-Can Economics Is Entering The End Game
David Stockman Interview——-Kick-The-Can Economics Is Entering The End Game Today David Stockman, the man President Ronald Reagan called upon along with Dr. Paul Craig Roberts to help save the United States from disaster in 1981, warned King World News that we are now entering the “terminal phase” of the global financial system that will end in total collapse. Eric […]
A Tale Of Two Graphs——Why Bubble Finance Will Fail
A Tale Of Two Graphs——Why Bubble Finance Will Fail On Friday the BLS reported, among other things, that full-time employment in April had dropped by 252,000 from the prior month and that the weekly earnings of production workers had risen by the grand sum of 67 cents (0.1%) before inflation and taxes. But why should still another confirmation that […]
Why Markets Are Manic—-The Fed Is Addicted To The ‘Easy Button’
Why Markets Are Manic—-The Fed Is Addicted To The ‘Easy Button’ Later this week another Fed meeting will pass with the policy rate still pinned to the zero bound. The month of May will make the 77th consecutive month of ZIRP—–an outcome that would have been utterly unimaginable even a decade ago; and most especially not with the […]
An Insider’s Take: How the Fed Ruined the Economy
An Insider’s Take: How the Fed Ruined the Economy Let’s start this off with a quote by Ben Bernanke to get your blood boiling: When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve, policymakers and staff alike, mustered the moral courage to do what was […]
Eating The Seed Corn—–The Fed’s Horrid Corruption Of Corporate Finance
Eating The Seed Corn—–The Fed’s Horrid Corruption Of Corporate Finance Central bank financial repression results in the systematic and severe mispricing of financial assets. And that has sweeping consequences far beyond the munificent windfalls it bestows on the thin slice of mankind that frequents the casinos of Wall Street, London, Tokyo and Shanghai. The fact is, the […]
Why The Mania Is Getting Scary—-Central Bankers Are Running A Doomsday Machine
Why The Mania Is Getting Scary—-Central Bankers Are Running A Doomsday Machine If you need evidence that we are in the midst of a lunatic financial mania, just consider this summary from a Marketwatch commentator as to why markets are ripping higher this morning: “The dovish comments from both Fed Chairwoman Janet Yellen and People’s Bank of China […]
C’mon Angela, Let Them Greexit
C’mon Angela, Let Them Greexit With each passing day it becomes more obvious that Europe is heading for an epochal financial conflagration. So buy-the-dip if you must, but don’t believe for a minute that the US has decoupled. When the euro and EU eventually implode it will rattle the bones of every gambler and algo left […]
Market Tops In! Why Buy-The-Dippers Can’t Get It Up
Market Tops In! Why Buy-The-Dippers Can’t Get It Up I am sure some chart reader can explain the S&P 500’s laborious struggle since September 2——the day it crossed the 2000 barrier—-as a classic “wall of worry”. But that event occurred nearly seven months ago and the market has dipped 15 times since then and has actually plunged six times […]
Thanks For The Corporate Bond Bubble, Fed
Thanks For The Corporate Bond Bubble, Fed Once upon a time businesses borrowed long term money—-if they borrowed at all—-in order to fund plant, equipment and other long-lived productive assets. That kind of debt was self-liquidating in the sense that it usually generated a stream of income and cash flow that was sufficient to service and […]
Memo To Obama: Butt Out Of The Greek Crisis—-You’ve Dispensed Enough Keynesian Poison At Home
Memo To Obama: Butt Out Of The Greek Crisis—-You’ve Dispensed Enough Keynesian Poison At Home At the moment, Europe is struggling to pass an inflamed financial gallstone. The sooner that Greece is permitted to escape the debt clogged financial ducts fashioned by its Brussels paymasters, the sooner the entirety of Europe can begin the cure of […]
David Stockman Interview: The Global Economy Has Entered The Crack-Up Phase
David Stockman Interview: The Global Economy Has Entered The Crack-Up Phase Transcript of David Stockman’s Interview By Chris Martenson at Peak Prosperity Chris Martenson: Welcome to this Peak Prosperity podcast. I am your host, Chris Martenson. It’s a central banker world and that world is increasingly volatile, deformed, and full of risks. Today, we’re speaking with […]
