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Tag Archives: qe
China Considers Launching QE; Shanghai Stocks Soar
China Considers Launching QE; Shanghai Stocks Soar Nearly two months ago we explained “How Beijing Is Responding To A Soaring Dollar, And Why QE In China Is Now Inevitable” in which we cited Cornerstone who reminded us “that from 2007 to late 2008, U.S. fed funds dropped 500 bp, and then the Fed still needed […]
Germany Prepares For “Plan B”, Says Greece Would “Need Not Only A Third Bailout, But Fourth, Fifth Or Even More”
Germany Prepares For “Plan B”, Says Greece Would “Need Not Only A Third Bailout, But Fourth, Fifth Or Even More” It has been a very disturbing 24 hours for Greece. It all started during yesterday’s surprisingly short, just one hour long Eurozone finmin meeting in Riga, where Yanis Varoufakis not only got the most “hostile” […]
What Happens To US Shale When The Easy Money Runs Out?
What Happens To US Shale When The Easy Money Runs Out? Today we will take a look at both Whiting Petroleum (WLL) and Continental Resources (CLR) as far as their Bakken economics. Overall the numbers will show that, despite claims of low cash costs per MBOE ($16 or so for CLR) and high IRRs on […]
None Dare Call It Fraud—–Its Just A “Savings Glut”
None Dare Call It Fraud—–Its Just A “Savings Glut” They were jawing again this morning about the low “natural rate” of interest on bubble vision, implying that the workers of the world have succumbed to an atavistic fit of wild-eyed thrift. Gosh, the world is so inundated in a savings glut, averred Wall Street economist Ed McKeon, that the interest rate would […]
An Insider’s Take: How the Fed Ruined the Economy
An Insider’s Take: How the Fed Ruined the Economy Let’s start this off with a quote by Ben Bernanke to get your blood boiling: When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve, policymakers and staff alike, mustered the moral courage to do what was […]
The Inevitable Failure of Mechanistic Monetary Policy
The Inevitable Failure of Mechanistic Monetary Policy Our current faith in central banks’ ability to “make the economy all better, all the time” is horrendously misplaced. We are living in the Cargo Cult Era of Central Bankers. The era began in earnest on December 5, 1996, when Federal Reserve chairman Alan Greenspan cautiously wondered aloud if […]
“The Mother of All Bubbles” in Stocks and Bonds: Bank CEO
“The Mother of All Bubbles” in Stocks and Bonds: Bank CEO The first quarter was hot across the Eurozone. The euro has gotten purposefully crushed by the ECB’s currency war. QE, first promised then implemented, became all the rage. And stocks surged: the Stoxx Europe 600 was up 16%; Italy’s FTSE MIB index up 22%; […]
The Fed Has Failed the Nation, in One Chart
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 […]
The Way Out
The Way Out It’s not what most people think: a return to some hypothetical “normality,” with the ghost of Ronnie Reagan beaming down like a sun-god under his lopsided pompadour, and all the happy self-driving GM cars toodling back and forth from WalMart-to-home loaded to the scuppers with new electric pop-tart warmers and 3-D underwear […]
Finally The “Very Serious People” Get It: QE Will “Permanently Impair Living Standards For Generations To Come”
Finally The “Very Serious People” Get It: QE Will “Permanently Impair Living Standards For Generations To Come” When “very serious people” (even if it is those who once ran now defunct Bear Steanrs) announce it, with a 6 year delay, they make the Financial Times. On the other hand, when Zero Hedge said precisely this 6 […]
Is Japan Zimbabwe?
Is Japan Zimbabwe? Is Japan Zimbabwe? How preposterous: Japan is an advanced economy that cannot possibly suffer the same fate as Zimbabwe. Right? Or could Japan get hyperinflation? Below I explain why Japan, and with it investors’ portfolios, might be at risk. The other day, when I was on a panel discussing unsustainable deficits in […]
China Warns Against Irrational Exuberance
China Warns Against Irrational Exuberance Yesterday, we pointed out that in US dollar terms, Chinese stocks are a real standout among the world’s equity markets, having nearly doubled in less than a year. The catalyst? Liquidity, driven by a number of factors including, as UBS notes, expectations of further policy easing, QE-lite, bank bridge loans, and of course, […]
Lenin Was Right …
Lenin Was Right … Bear Markets Do Happen Today… the second of the speech about the end of the world we recently gave at Doug Casey’s La Estancia de Cafayate. (You can catch up on the first part here.) As Yogi Berra would say, America is going to come to a fork in the road… and […]
Dollar Demand = Global Economy Has Skidded Over the Cliff (March 18, 2015)
Dollar Demand = Global Economy Has Skidded Over the Cliff Borrowing in USD was risk-on; buying USD is risk-off. There is a lively debate about the global demand for U.S. dollars: Global finance faces $9 trillion stress test as dollar soars (Telegraph.co.uk) Is There a US$ Shortage? Will it Sink the Global Economy? Again? (Mish) The Dollar […]
American Amoeba
American Amoeba The money-moving world waits on tenterhooks for the Wednesday appearance of America’s oracle, Janet Yellen, to step out of her grotto and state whether or not she feels twinges ofpatience. Wikipedia notes that Pythia, the original priestess of Delphi “…delivered oracles in a frenzied state induced by vapors rising from a chasm […]
