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Tag Archives: central banks
Plus ça change: A French Lesson in Monetary Debauchery
Plus ça change: A French Lesson in Monetary Debauchery Fiscal policy shifted into turbo-charged, warp speed, overdrive early into the COVID related recession. To facilitate the borrowing binge, the Federal Reserve took unprecedented monetary actions. In 2020, the fiscal deficit (November 2019- October 2020) rose $3.1 trillion and was matched one for one with a […]
This Time Is Not Different. More Debt, Less Growth
This Time Is Not Different. More Debt, Less Growth I remember that in 2009 three messages were constantly repeated: “In this crisis measures are different, because governments are investing in the recovery by increasing public spending,” “the funds from stimulus plans will strengthen the recovery “and “central banks help a stronger recovery by lowering rates […]
Inflation Expectations Solidly On The Rise
Inflation Expectations Solidly On The Rise Expectations Can Drive Inflation Inflation expectations appear to be solidly on the rise and that spells big problems for the financial system. For years the central banks across the world have claimed deflation has driven or allowed their QE policies to remain. This is central to their ability to […]
Today’s Negative Rates Are the Path to Poverty
Today’s Negative Rates Are the Path to Poverty Almost Daily Grant’s (ADG) made the pronouncement on December 14th that a “new benchmark in financial repression” had been set: ”a record $18.4 trillion in global debt is priced to yield less than zero, up from less than $8 trillion in March and a five-year average of $10.3 trillion.” […]
Open Letter to Gregory Mankiw From Keith Weiner
OPEN LETTER TO GREGORY MANKIW FROM KEITH WEINER Dear Professor Mankiw: I am writing in response to your article in the New York Times, “The Puzzle of Low Interest Rates”. I commend you for recognizing two important truths, which are missed by many other observers. One, that there has been a breathtaking drop in the […]
To The Breaking Point
To The Breaking Point If you thought fundamentals, valuations and earnings growth matter the joke is on you. In 2020 central banks have managed to do the unthinkable: Not only once again save investors from any damage in markets, but they intervened to such a degree that negative earnings growth is now the stuff of […]
BREAKING NEWS: Shocking Increase In U.S. Money Supply In Past Two Weeks
BREAKING NEWS: Shocking Increase In U.S. Money Supply In Past Two Weeks The increase in the U.S. money supply in the past two weeks is absolutely shocking. Something must be seriously wrong behind the scenes at the U.S. Treasury and Federal Reserve for the M1 Money Supply to increase more in the past two weeks […]
Are we in a ‘New Normal’?
Are we in a ‘New Normal’? The past two years have been especially brutal to so-called equity ‘bears’. Against all odds, and despite all the shocks, global capital markets—if not the real economy they are supposed to represent—have continued to climb to new heights. After the onset of the coronavirus catastrophe, the relentless rise of […]
The BIS Issues A Dire Warning: “We Are Moving From The Liquidity To The Solvency Phase Of The Crisis”
The BIS Issues A Dire Warning: “We Are Moving From The Liquidity To The Solvency Phase Of The Crisis” There are three certainties in life: death, taxes and the BIS – the central banks’ central bank – warning about excesses from monetary policy (the most recent amusing example of this was last October when as […]
Weekly Commentary: Monetary Disorder In Extremis
Weekly Commentary: Monetary Disorder In Extremis November non-farm payrolls gained 245,000, only about half the mean forecasts – and down from October’s 610,000. It was the weakest job growth since April’s employment debacle. U.S. equities rallied on the disappointing news. A few Bloomberg headlines captured the aura: “Stocks Gain as Jobs Miss Boosts Stimulus Bets;” […]
Gold & The Great Reset
Gold & The Great Reset Mike Maloney forecasts what’s next for money, markets & bitcoin The composition of the US dollar, including what it is backed by, has been replaced many times throughout America’s history. And another replacement is currently underway, warns monetary expert Mike Maloney. After President Nixon fully severed its ties to gold, […]
World’s Negative-Yield Debt Pile Has Just Hit a New Record
World’s Negative-Yield Debt Pile Has Just Hit a New Record $17 trillion of investment-grade debt now has sub-zero rates U.K. and Australian central banks expand bond-buying programs The world’s stockpile of negative-yielding debt has swelled to a record in the wake of the U.S. election, as investors lower expectations for a fiscal splurge and turn […]
What We Don’t Elect Matters Most: Central Banking and the Permanent Government
What We Don’t Elect Matters Most: Central Banking and the Permanent Government We’re Number One in wealth, income and power inequality, yea for the Fed and the Empire! If we avert our eyes from the electoral battle on the blood-soaked sand of the Coliseum and look behind the screen, we find the powers that matter […]
