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Tag Archives: balance sheet
A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough
A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough Two weeks ago Bank of America caused a stir when it calculated that central banks (mostly the ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion […]
Fake News From the Fed
Fake News From the Fed What you see in the media is mostly “fake news.” Reuters had this story recently: Most Federal Reserve policymakers think the central bank should take steps to begin trimming its $4.5 trillion balance sheet later this year as long as the economic data holds up, minutes from their last meeting […]
How Heavy Is This?
How Heavy Is This? Here is a glass of water. You’re holding it. How heavy is it? The answer is: the actual weight probably doesn’t matter. It’s just a glass of water. What matters is how long you hold it. Hold it for a minute, it’s no problem. An hour and your arm will ache. A day […]
Yellen’s Balance Sheet Baloney
YELLEN’S BALANCE SHEET BALONEY Of the many questions reporters asked Janet Yellen on Wednesday, at her press conference following the FOMC’s decision to raise the Fed’s policy rates, my favorite was the very first, posed by the Financial Times‘ U.S. Economics Editor, Sam Fleming. Here is Mr. Fleming’s question: [You’ve stated that the Fed wants to […]
The Fed Can’t Save Us
The Fed Can’t Save Us In December, the Fed hiked its target for the federal funds rate, which is the interest rate banks charge each other for overnight loans of reserves. Since 2008 the Fed’s target for the Fed Funds Rate had been a range of 0 percent – 0.25 percent (or what is referred […]
Has The Biggest Of All Bubbles Popped: Central Bank Omnipotence?
Has The Biggest Of All Bubbles Popped: Central Bank Omnipotence? Since the initial turmoil began with the onset of what is now referred to as “The great financial crisis.” One strategy has proven more profitable than any other. That strategy? BTFD (buy the f___n’ dip.) Regardless of what proprietary advice (short of insider trading,) nothing, as […]
Meet China’s Latest $1.8 Trillion “Problem”
Meet China’s Latest $1.8 Trillion “Problem” Last summer we outlined how Chinese banks obscure trillions in credit risk. The powers that be in Beijing aren’t particularly keen on allowing the banking sector to report “real” data on souring loans – especially given the fragile state of the country’s economy. In some cases, the Politburo will pressure banks […]
Is Judgment Day At Hand?
Is Judgment Day At Hand? What is Judgment Day? It is like ancient times that the Feds, under Greenspan, somehow decided that US needed to follow a zero interest rate policy, a policy now known as the ZIRP. It was 2008 when Bernanke gave birth to the term Quantitative Easing, QE. QE was followed by Operation […]
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 […]
Fed Taking Emergency Crisis Measures … Shoving Collateral Onto Banks’ Balance Sheets
Fed Taking Emergency Crisis Measures … Shoving Collateral Onto Banks’ Balance Sheets Mike Maloney with an insightful analysis:
Is the Fed Going to Raise Mortgage Interest Rates?
Is the Fed Going to Raise Mortgage Interest Rates? The Interest Rate Guessing Game Seldom does a day go by without some guru offering his or her prediction on when the Fed is going to raise rates. They all come with scholarly theories supporting their prediction. It sounds like a fun game. I want to […]
