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The Fed Has Failed the Nation, in One Chart

March 31, 2015

The Fed Has Failed the Nation, in One Chart

There is only one way to end the financial tyranny of the Federal Reserve–abolish it, and put an end to the predatory pathologies of its policies.

The Federal Reserve has failed not just the nation and the U.S. economy, but more importantly, the American people that it supposedly serves. It has also failed the world, by showing other central banks that they can reward private banks and top .01% with absolute impunity.

The supposed goal of the Fed’s zero-interest rate policy (ZIRP) and quantitative easing (QE) was to make borrowing easier for both corporations and consumers, the idea being companies would borrow to invest in new productive capacity and consumers would buy the new goods and services being produced with cheap credit.

The secondary publicly stated goal was to spark a rally in stocks, bonds and real estate that would spark awealth effect: as households saw their net worth rise, they would feel wealthier and thus more likely to buy goods and services they didn’t need on credit.

The real reason for ZIRP and QE was to rebuild the balance sheets and profits of banks on the backs of savers who have earned near-zero thanks to the Fed’s manipulation of markets. But setting aside the obvious success of the Fed’s real goals–enriching the banks and the super-wealthy who have access to near-zero interest credit–let’s see what corporations did with the Fed’s nearly-free money.

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Why Chinese Growth Forecasts Just Crashed To A Paltry 3.9% – And Are Going Even Lower – In One | ZeroHedge

October 20, 2014

Why Chinese Growth Forecasts Just Crashed To A Paltry 3.9% – And Are Going Even Lower – In One Chart|ZeroHedge

Up until a few years ago, conventional wisdom was that China would grow at nearly double digits as long as the eye could see. Then, however, something happened, and China’s 9% growth became 8%, then 7% and even lower, as suddenly the Politburo made it quite clear China would not chase growth at any cost, especially when the cost is trillions in bad debt and other NPLs, as we have explained time and again. The collapse in Chinese growth expectations is shown best on the following formerly hockeysticking chart of IMF’s revised Chinese growth projections which has completely collapsed in the past few years.

 

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