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Tag Archives: quantitative easing
Professor Bernanke’s Bogus Contra-factual, Part 1: The Myth Of Great Depression 2.0
Professor Bernanke’s Bogus Contra-factual, Part 1: The Myth Of Great Depression 2.0 It took no “courage” whatsoever to inflate the Fed’s balance sheet from $900 billion to $2.3 trillion during just 17 weeks in September-December 2008. What it actually took was an epochal con job by a naïve Keynesian academic whose single idea about economics was primitive, self-serving, borrowed and […]
Has The Market Trend Shifted From Bull To Bear?
Has The Market Trend Shifted From Bull To Bear? Why the recent volatility may mark a secular shift Emotions are running high for the investment community in the wake of recent market volatility. Up until August, we had been in the third longest period in market history without a 10% correction. Since then, stock indices […]
Where Is the First Helicopter Drop of Money Likely to Land?
Where Is the First Helicopter Drop of Money Likely to Land? So what’s left in the toolbag of central banks and states to stimulate recessionary economies if QE has been discredited? The answer: Helicopter Money. We all know helicopter money of some kind is coming as the global economy spirals into recession. Quantitative Easing (QE)–the monetary stimulus of […]
Is Quantitative Easing the Same as Printing Money?
Is Quantitative Easing the Same as Printing Money? QUESTION: Mr. Armstrong; Thank you for coming to Athens. After the presentation, there were so many questions that the moderator did not have time for. You answered some for the crowd afterwards that I had never heard anyone ever explain. You said Quantitative Easing was not money printing […]
Dammit, Janet
Dammit, Janet According to Einstein, time is affected by gravity. Clocks far from strong gravitational fields run more quickly; those close by run more slowly. We can only assume, then, that Janet Yellen has the density of a neutron star. Under her leadership of the US Federal Reserve, time seems to have stopped altogether. It […]
The Echo Bubble in Housing Is About to Pop
The Echo Bubble in Housing Is About to Pop And here’s the knife in the heart of the Echo Housing bubble: declining household income. The Federal Reserve-induced Echo Housing Bubble is finally starting to roll over, and the bubble’s pop won’t be pretty. Why is the bubble finally popping now? All the factors that inflated the […]
This is When Bonds Go Kaboom!
This is When Bonds Go Kaboom! The toxic miasma of “distressed debt.” It’s getting tougher out there for our QE and ZIRP-coddled corporate junk-bond heroes. Unisys, whose revenues and profits decline year after year and whose stock dropped from over $400 a share during the prior tech bubble to $13 a share now, withdrew its […]
China Cannot Let This Happen
China Cannot Let This Happen After borrowing — and largely wasting — $15 trillion during the Great Recession, China now looks like a typical decadent developed-world country, complete with slow growth, anemic consumer spending and unstable financial markets. But it’s not France, Canada or the US, where recessions happen and voters peacefully replace one major […]
The Next Thing Might Be Helicopter Money
The Next Thing Might Be Helicopter Money «I dare to say that we have not yet seen the most radical brainwaves of the mandarins running our central banks.» (Bild: Roderick Aichinger) James Grant, Wall Street expert and editor of the investment journal «Grant’s Interest Rate Observer», warns of ever more extreme central bank policies and bets […]
From ZIRP to NIRP
From ZIRP to NIRP The sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about emerging market economies, has got financial scribblers writing about negative interest rate policies (NIRP). Coincidentally, Andrew Haldane, the chief economist at the Bank of England, published a […]
Goldman Warns On Limits Of Central Bank Policy: “The Road To Hell Is Paved With Good Intentions”
Goldman Warns On Limits Of Central Bank Policy: “The Road To Hell Is Paved With Good Intentions” Back in May, we noted that minutes from the ECB’s April 14-15 policy meeting seem to reveal that the central bank is either obtuse or else suffering from a frightening bout of willful ignorance. Here’s are the excerpts which led […]
The Fed Can’t Fix It: “All That’s Left is a Reset, Shutdown of the System”
The Fed Can’t Fix It: “All That’s Left is a Reset, Shutdown of the System” Did Janet Yellen make the right decision in delaying a Federal Reserve rate hike? Did the United States dodge a bullet? Of course not. And the system is on course for a dangerous, hard landing. As far as many experts […]
