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Tag Archives: inflation
How Asset Inflation Will End–This Time
HOW ASSET INFLATION WILL END — THIS TIME Life after death for asset inflation: this is what happens when “speculative fever” remains high even after monetary inflation has paused. This may well have been the situation in global markets during 2019 so far. But history and principle suggest that life after death in this monetary […]
The Fed’s Body Count
The Fed’s Body Count “The problem with the war (Vietnam), as it often is, are the metrics. It is a situation where if you can’t count what’s important, you make what you can count important. So, in this particular case what you could count was dead enemy bodies.” – James Willbanks, Army Advisor, General of […]
Hyperinflation History May Provide Valuable Lessons for Fed’s “Target”
From Birch Gold Group Hyperinflation History May Provide Valuable Lessons for Fed’s “Target” In April of 1980 inflation peaked at a staggering 14.76%. That same year, the Fed triggered a rise in interest rates to near 20% around the same time, employing the controversial “Volcker Rule.” Paul Solman explained in a 2009 PBS Newshour: If by “interest rates” you […]
MMT Is a Recipe for Revolution
MMT Is a Recipe for Revolution Historian Stephen Mihm recently argued that based on his reading of the monetary system of colonial Massachusetts, modern monetary theory (MMT), which he cheekily referred to as PMT (Puritan monetary theory), “worked — up to a point.” One can forgive him for misunderstanding America’s colonial monetary system, which was so much […]
ECB Inflationists are Crippling Europe
ECB Inflationists are Crippling Europe Last week, the ECB announced the reintroduction of targeted long-term refinancing operations for the third time. TLTRO-III is scheduled to start from next September. The idea is to make yet more money available for the banks at attractive rates on condition they increase their lending to non-financial entities. The policy […]
Extrapolating The Recent Past Can Be Hazardous To Your Wealth
Extrapolating The Recent Past Can Be Hazardous To Your Wealth “Those who cannot remember the past are condemned to repeat it,” remarked George Santayana over 100 years ago. These words, as strung together in this sequence, certainly sound good. But how to render them to actionable advice is less certain. George Santayana – purveyor of […]
Weekly Commentary: No One Knows How Monetary Policy Works
Weekly Commentary: No One Knows How Monetary Policy Works My interest was piqued by a Friday Bloomberg article (Ben Holland), “The Era of Cheap Money Shows No One Knows How Monetary Policy Works.” “Monetary policy is supposed to work like this: cut interest rates, and you’ll encourage businesses and households to borrow, invest and spend. […]
Ides and Tides
Ides and Tides Just as presidents are expected to act presidentially, Federal Reserve chairpersons are expected to act oracularly — as semi-supernatural beings who emerge now and again from some cave of mathematical secrets to offer reassuringly cryptic utterances on mysteries of the economy. And so was Jerome Powell wheeled out on CBS’s 60 Minutes Sunday night, […]
Fake Money’s Face Value Deceit
Fake Money’s Face Value Deceit Shane Anthony Mele stumbled off the straight and narrow path many years ago. One bad decision here. Another there. And he was neck deep in the smelly stuff. These missteps compounded over the years and also magnified his natural shortcomings. Namely, that he’s a thief and – to be polite […]
Intractable Inflation Very Dangerous New Paradigm – Michael Pento
Intractable Inflation Very Dangerous New Paradigm – Michael Pento Money manager Michael Pento says get ready for big inflation. Pento explains, “When the emergency ended (from the 2008-2009 financial meltdown), they were going to reverse course, sell those assets back to the public and take those dollars out of the economy. . . . A […]
A Survival Guide For 2019
A Survival Guide For 2019 How to safely navigate the ‘Year Of Instability’ As the first month of the year concludes, it’s becoming clear that 2019 will be a very different kind of year. The near-decade of ‘recovery’ following the Great Financial Crisis enjoyed a stability and tranquility that suddenly evaporated at the end of […]
How the Euro Enabled Europe’s Debt Bubbles
How the Euro Enabled Europe’s Debt Bubbles It’s the twentieth anniversary of the euro’s existence, and far from being celebrated, it is being blamed for many — if not all — of the Eurozone’s ills. However, the euro cannot be blamed for the monetary and policy failures of the ECB, national central banks and politicians. […]
Incrementum Inflation Signal Update – A Reversal To “Rising Inflation”
Incrementum Inflation Signal Update – A Reversal To “Rising Inflation” Introductory Remarks by PT We have discussed the proprietary Incrementum Inflation Indicator in these pages on previous occasions, but want to quickly summarize its salient features again. It is a purely market-based indicator, this is to say, its calculation is based exclusively on market prices […]
The CIA, Lost In The Orinoco
The CIA, Lost In The Orinoco René Magritte The black flag 1937 One thing I am not is an expert on Venezuela. What I know is the country has the world’s largest oil reserves, mainly in the Orinoco Belt, but they come in a form of tar sands that while they are not as hard to exploit […]
