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Tag Archives: qe
Indeed This Time Is Different: Because It’s Far Worse
Indeed This Time Is Different: Because It’s Far Worse Suddenly the narrative that “everything is awesome” is showing to not be as “awesome” as it was first proclaimed. Merely a few months have passed since the ending of QE and praises of awesomeness everywhere are morphing into questions more akin to “Oh no: not again!” And […]
The Great Immoderation: How The Fed Is Sowing The Next Recession
The Great Immoderation: How The Fed Is Sowing The Next Recession In February 2004 Ben Bernanke famously declared the business cycle had been tamed and took a bow in behalf of enlightened monetary management, claiming it was the principal source of this beneficent development. Exactly 55 months later, of course, he terrorized the Congressional leadership and a clueless President […]
The Fed Blew It
The Fed Blew It The Fed had multiple opportunities to let the air out of unsustainable asset bubbles by notching interest rates higher and tapering its asset purchases (QE). The Federal Reserve blew it by not normalizing interest rates a long time ago. The consensus in financial circles is the exact opposite: the Fed has blown […]
A Patient Fed Considers Losing Patience
A Patient Fed Considers Losing Patience I have always argued that quantitative easing and zero percent interest rates were misguided policies to combat economic weakness. But as the years went on, misguided turned into irresponsible, which led to ridiculous, and then turned into dangerous. But lately, the only word that comes to mind is “surreal.” How should we […]
Happy 6th Birthday: The Day FASB Folded & “Mark-To-Fantasy” Was Born
Happy 6th Birthday: The Day FASB Folded & “Mark-To-Fantasy” Was Born The captured corporate MSM is celebrating the six year anniversary of when the stock market bottomed in March 2009. They will spin a false narrative of Bernanke, Obama and Geithner saving the world with TARP, QE, and the $800 billion Porkulus bill. What great heroes. […]
Europe, The Morally Bankrupt Union
Europe, The Morally Bankrupt Union The European Union is busy accomplishing something truly extraordinary: it is fast becoming such a spectacular failure that people don’t even recognize it as one. People have no idea, they just think: this can’t possibly be true, and they continue with their day. They should think again. Because the Grand […]
The ECB’s Lunatic Full Monty Treatment
The ECB’s Lunatic Full Monty Treatment Not Quite Right in the Head? The belief that the market economy requires “steering” by altruistic central bankers, who make decisions influencing the entire economy based on their personal epiphanies, has rarely been more pronounced than today. Most probably it has actually never been stronger. It is both highly amusing and […]
The One Chart You Need to Predict the Future
The One Chart You Need to Predict the Future We are witnessing a profound secular sea-change: the failure of expanding debt and leverage to lift the real economy of wages and household income. When push comes to shove, you only need one chart to predict the future: debt and wages ( credit and compensation). This […]
QE Inventor: It’s EASY to Create a Full-Blown Recovery, But Central Banks Chose to Make Banksters Rich Instead of Helping Main Street
QE Inventor: It’s EASY to Create a Full-Blown Recovery, But Central Banks Chose to Make Banksters Rich Instead of Helping Main Street QE Is a Sham Richard Werner (economics professor at University of Southampton) is the inventor of quantitative easing (QE). Werner previously said that QE has failed to help the economy. (Former long-time Fed chair Alan Greenspan agrees. Numerous academic studies confirm […]
ECB Will Cut Rates To Minus 3%: JP Morgan
ECB Will Cut Rates To Minus 3%: JP Morgan A running theme here over the past several weeks has been that the ECB’s €1.1 trillion foray into quantitative easing will be severely hindered by a laundry list of constraints (some of which were unwittingly self-imposed). Another topic we’ve covered exhaustively is the idea that the world’s central […]
One Last Look At The Real Economy Before It Implodes – Part 1
One Last Look At The Real Economy Before It Implodes – Part 1 We are only two months into 2015, and it has already proven to be the most volatile year for the economic environment since 2008-2009. We have seen oil markets collapsing by about 50 percent in the span of a few months (just […]
BREAKING BAD (DEBT) – EPISODE TWO
BREAKING BAD (DEBT) – EPISODE TWO ‘If you’re committed enough, you can make any story work. I once told a woman I was Kevin Costner, and it worked because I believed it’ – Saul Goodman – Breaking Bad “As calamitous as the sub-prime blowup seems, it is only the beginning. The credit bubble spawned abuses throughout the system. […]
In “Paranormal” Europe, Banks Will Pay You To Borrow, And Charge You To Save
In “Paranormal” Europe, Banks Will Pay You To Borrow, And Charge You To Save A month ago, we wrote about a bizarre situation involving Denmark’s now totally broken monetary system, where as a result of an unprecedented scramble to weaken the currency in order to preserve the peg to the Euro the central bank unleashed […]
How Many More “Saves” Are Left in the Central Bank Bazookas?
How Many More “Saves” Are Left in the Central Bank Bazookas? Very few, it seems The master narrative of the global economy shifted six years ago from “China will push global growth for decades to come” to “the central banks can push global growth for decades to come.” Time after time we’ve witnessed enfeebled global […]
