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How the Fed’s Inflation Policies Crucify Workers in Pictures
How the Fed’s Inflation Policies Crucify Workers in Pictures Every month, pundits comment on average wages. But median wages best explain how the Fed’s policies crucify workers. The meme of the day is wage growth is accelerating. I disputed that notion on February 7, in Acceleration in Wage Growth is a Statistical Mirage. On February […]
Albert Edwards on Trump’s Legacy:15% Deficits then a Deflationary Bust
Albert Edwards on Trump’s Legacy:15% Deficits then a Deflationary Bust Albert Edwards at Society General does not have kind words for Trump’s stimulus package. In his latest Email, Albert Edwards at Society General fires a shot at Trump’s tax cut. Edwards says the “fiscal expansion is probably the most foolhardy escapade in modern economic policy, […]
Musical Tribute to Bribes in the US, Israel, Nigeria, Everywhere
Musical Tribute to Bribes in the US, Israel, Nigeria, Everywhere Israeli PM Netanyahu and Shell executives face bribery charges. US politicians are second to none when selling votes. Bribes Israeli Style NPR reports Israeli Police Push For Prime Minister Netanyahu’s Indictment On Corruption Charges. Israeli police are urging the attorney general to indict Prime Minister […]
Interbank Loan Series Update: Message From “Fred”
Interbank Loan Series Update: Message From “Fred” Lots of people, including me, were wondering what happened with interbank loans. The series is now discontinued. This post is in reference to my previous article Plunge in Interbank Lending: The Straw that Broke the Fed’s Back. Here is an email a reader Andy sent from the Fred […]
Plunge in Interbank Lending: The Straw that Broke the Fed’s Back
Plunge in Interbank Lending: The Straw that Broke the Fed’s Back Interbank lending took a historic dive. Readers ask “What’s happening?” Let’s investigate. Interbank Lending Long Term The plunge in interbank lending is both sudden and dramatic. What’s going on? Fed Tightening Two Ways The short answer is a straw broke the Fed’s back. A […]
Peace: The One Thing the US Warmongers Do Not Want
Peace: The One Thing the US Warmongers Do Not Want Vice President Mike Pence made fools of the US at the South Korea Olympics. Kim Jong Un’s sister stole the show. For a welcome change of pace, a thaw between North and South Korea is taking place. Unfortunately, the US wants no part of it […]
Necessary Fantasy: White House Estimates 3% Growth For a Decade
Necessary Fantasy: White House Estimates 3% Growth For a Decade Here’s one for the “not going to happen” category. Trump believes his policies will lead to 3% sustained growth. The White House’s budget proposal, to be released Monday, estimates 3% Growth for 10 Years, on average. The budget proposal projects the economy will grow about […]
“This Isn’t a Drill” Mortgage Rates Hit Highest Level Since May 2014
“This Isn’t a Drill” Mortgage Rates Hit Highest Level Since May 2014 A housing bust may be just around the corner. Rates have climbed to a level last seen in May of 2014. Mortgage News Daily reports Mortgage Rates Surge to Highest Levels in More Than 3 Years. The chart does not quite show what […]
Rajoy Slapped in the Face: Catalonia Elects Pro-Independence Speaker
Rajoy Slapped in the Face: Catalonia Elects Pro-Independence Speaker Spain’s prime minister Mariano Rajoy received a well-deserved slap in the face today. Independents again rule Catalonia. In October, prime minister Mariano Rajoy took direct control of Catalonia, jailing its leaders and dissolving its parliament after Catalan president Carles Puigdemont declared independence in October. Puigdemont is […]
Drastic Pension Cuts Will Hit California, Kentucky, Other States
Drastic Pension Cuts Will Hit California, Kentucky, Other States The CA Supreme Court will rule on pension cuts. Curiously, the court’s ruling will be irrelevant in case of bankruptcy. Please consider California’s Brown Raises Prospect Of Pension Cuts In Downturn. California Governor Jerry Brown said legal rulings may clear the way for making cuts to […]
Reflections On “Pushing the Wrong Button” and US Drone Policy
Reflections On “Pushing the Wrong Button” and US Drone Policy A “ballistic missile threat inbound to Hawaii” notification was caused by an employee who “pushed the wrong button.” Wrong Button ABC News reports an [emergency alert notification] (http://wnep.com/2018/01/13/wrong-button-pushed-during-shift-change-blamed-for-false-hawaii-missile-alert/) sent out on Saturday claiming a “ballistic missile threat inbound to Hawaii” was a false alarm caused […]
Food: What’s In Your Basket? How Fast Are Prices Rising?
Food: What’s In Your Basket? How Fast Are Prices Rising? The BLS says the CPI rose 2.1% in December from a year ago. Food rose 1.6%. I called the BLS and filled in some numbers. In CPI Up 0.1 Percent: How Much is the CPI Understated? I disputed the BLS’s year-over-year overall inflation figure of […]
Dangerous Idiot Category: “It’s Time to Bomb North Korea”
Dangerous Idiot Category: “It’s Time to Bomb North Korea” Edward Luttwak, an armchair foreign policy idiot, proposes bombing North Korea. It’s Time to Bomb North Korea says Edward Luttwak, idiot of the day for Foreign Policy Magazine. Check out his rationale: It’s true that North Korea could retaliate for any attack by using its conventional […]
Median Family Net Worth Under 1989 Level: Debt-to-Money Worst Since 62
Median Family Net Worth Under 1989 Level: Debt-to-Money Worst Since 62 As the stock market soars to new highs, here’s some sobering statistics to consider. The stock market is at an all-time high but Americans Owe More, Save Less, and are Poorer Than in Decades. Negative Wealth Percentage On the Rise Sobering Stats A greater […]
Bomb Cyclone Hits East Coast: Record Tide Floods Boston
Bomb Cyclone Hits East Coast: Record Tide Floods Boston Blizzards hit the East coast, record high tides flood Boston and in New Jersey, Christie declared a state of emergency. The National Guard has been called out in several states as a bombogenesis or bomb cyclone makes its way up the East coast of the US. […]
