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Drowning In The Money River
Photobank gallery/Shutterstock Drowning In The Money River Why the 99% of us are falling farther behind It’s a big club and you ain’t in it. ~ George Carlin If you suspect society is unfair, that there’s a different set of rules the rich live by, you’re right. I’ve had ample chance to witness first-hand evidence […]
What Has QE Wrought?
What Has QE Wrought? [Editor’s Note: Watch Ron Paul deliver this Special Report here.] The Great Recession began in 2007. It didn’t take long for the money managers to recognize its severity, and that a little tinkering with interest rates would not suffice in dealing with the economic downturn. In Dec. 2008, the first of four Quantitative […]
QE Party Over, even by the Bank of Japan
QE Party Over, even by the Bank of Japan First decline in its colossal balance sheet since 2012. An amazing – or on second thought, given how central banks operate, not so amazing – thing is happening. On one hand… Bank of Japan Governor Haruhiko Kuroda keeps saying that the BOJ would “patiently” maintain its […]
Quantitative Tightening Is the Biggest Economic Threat in 2018
Quantitative Tightening Is the Biggest Economic Threat in 2018 In response to the 2008 financial crisis, the Fed and other central banks deployed zero or near-zero interest rates, quantitative easing, and assorted other interventions. These may have averted an even worse disaster, but their impacts were far from ideal. Nonetheless, the economy slowly lifted off […]
The Debt Beneath
The Debt Beneath Debt is irrelevant and matters not. It’s different this time. That’s the message from politicians, markets and participants. Tax cuts pay for themselves (they do not), leverage doesn’t matter (it does) and the increased costs of servicing the debt as a result of rising rates will be offset by imaginary real wage […]
The Greatest Bubble Ever: Why You Better Believe It, Part 2
The Greatest Bubble Ever: Why You Better Believe It, Part 2 During the 40 months after Alan Greenspan’s infamous “irrational exuberance” speech in December 1996, the NASDAQ 100 index rose from 830 to 4585 or by 450%. But the perma-bulls said not to worry: This time is different—-it’s a new age of technology miracles that will change the laws […]
Stranger Things
Stranger Things The hidden agenda in the so-called tax reform bill is to act as stop-gap quantitative easing to plug the “liquidity” hole that is opening up as the Federal Reserve (America’s central bank) makes a few gestures to winding down its balance sheet and “normalizing” interest rates. Thus, the aim of the tax […]
Mind the Junk—-This Ain’t Your Grandfather’s Capitalism
Mind the Junk—-This Ain’t Your Grandfather’s Capitalism The financial system is loaded with anomalies, deformations and mispricings—-outcomes which would never occur on an honest free market. For example, the junk bond yield at just 2% in Europe is now below that of the “risk-free” US treasury bond owing solely to the depredations of the ECB. Indeed, madman Draghi has […]
The Swiss National Bank Now Owns A Record $88 Billion In US Stocks
The Swiss National Bank Now Owns A Record $88 Billion In US Stocks In the third quarter of 2017, one in which the global economy was supposedly undergoing a unprecedented “coordinated growth spurt”, and in which central banks were preparing to unveil their QE tapering intentions, in the case of the ECB, or raising rates […]
Federal Reserve Hesitates on QE Unwind / Balance Sheet Reduction
Federal Reserve Hesitates on QE Unwind / Balance Sheet Reduction Is the Federal Reserve’s Great Unwind already coming unwound? I thought it would be good to check up on Federal Reserve balance sheet reduction since the Fed is supposed to be up and running on the move out of quantitative easing this month. It should […]
What Could Pop The Everything Bubble?
What Could Pop The Everything Bubble? A crisis that can’t be solved by just printing more dollars I’ve long held that if a problem can be solved by creating $1 trillion out of thin air and buying a raft of assets with that $1 trillion, then central banks will solve the problem by creating the […]
“The Nightmare Scenario” Revisited: Albert Edwards Lays Out The Next “Black Monday”
“The Nightmare Scenario” Revisited: Albert Edwards Lays Out The Next “Black Monday” Is it the onset of a recession or the fear of a recession that causes a crash? That is what SocGen’s bear (or, as he calls himself this time, wolf) Albert Edwards contemplated on the 30th anniversary of Black Monday, before reaching the […]
Necessity is the Mother of Invention–Retirees Desperate Reach for Yield
NECESSITY IS THE MOTHER OF INVENTION – RETIREES DESPERATE REACH FOR YIELD Ben Bernanke’s creativity inspired a generation of economists and central bankers. QE, ZIRP and NIRP established a new class of economics that is mathematically sound but practically disastrous. Billions of dollars were transferred from savers to investors to boost the economy, but the […]
ECB Suffers from “Corporate Capture at its Most Extreme”
ECB Suffers from “Corporate Capture at its Most Extreme” Many of these banks are implicated in the biggest financial crimes. No single institution has more influence over the lives of European citizens than the European Central Bank. It sets the interest rates for the 19 Member States of the Eurozone, with a combined population of […]
The S&P Is A Bloated Corpse
The S&P Is A Bloated Corpse Fan Ho In Paris 1953 Update: I never did this before, but now I think I must: change the title of an article. “Minsky and Volatility” isn’t nearly as good as “The S&P Is A Bloated Corpse”. Simple, really. The URL will be the same as before According to […]
