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Tag Archives: zirp
Growth Is the Answer to Everything
Growth Is the Answer to Everything The Solution to Every Problem Little Changes Add Up Restoring Growth From Carrot to Stick Newport Beach, New York, and an SIC Conference Update “Growth is never by mere chance. It is the result of forces working together.” – James Cash Penney In this business we spend a lot […]
Mario Draghi Got Lost In A Rabbit Hole
Mario Draghi Got Lost In A Rabbit Hole Arthur Rackham “Why, Mary Ann, what are you doing out here?”1907 I’ll try and keep this gracefully short: Mario Draghi ‘unleashed’ a bazooka full of desperate tools on the financial markets yesterday and they blew up in his face faster than you could say blowback or backdraft […]
Why Helicopter Money Can’t Save Us: We’ve Already Been Doing It For 8 Years
Why Helicopter Money Can’t Save Us: We’ve Already Been Doing It For 8 Years There’s a lot of talk going around these days about “helicopter money.” For those unfamiliar, it’s billed as a kind of last Keynesian resort when ZIRP, NIRP, and QE have all failed to boost aggregate demand and juice inflation. For instance, HSBC […]
2008 Revisited?
2008 Revisited? NEW YORK – The question I am asked most often nowadays is this: Are we back to 2008 and another global financial crisis and recession? My answer is a straightforward no, but that the recent episode of global financial market turmoil is likely to be more serious than any period of volatility and […]
Where Negative Interest Rates Will Lead Us
WHERE NEGATIVE INTEREST RATES WILL LEAD US Despite zero-interest-rate-policy (ZIRP) and multiple quantitative easing programs — whereby the central bank buys large quantities of assets while leaving interest rates at practically zero — the world’s economies are stuck in the doldrums. The central banks’ only accomplishment seems to be an increase in public and private […]
Everything Changes At Zero
EVERYTHING CHANGES AT ZERO “Then said Jesus, “Father, forgive them; for they know not what they do.”” – Luke 23:34. For the benefit of non-subscribers, there are two versions of the Financial Times newspaper. One of them is the hard copy edition, still printed on pink paper, an exact digital replica of which is available on […]
Are Asian Central Bankers Even Crazier Than Our Own?
Are Asian Central Bankers Even Crazier Than Our Own? That the world’s central bankers get a lot of things wrong, deliberately or not, and have done so for years now, is nothing new. But that they do things that result in the exact opposite of what they ostensibly aim for, and predictably so, perhaps is. […]
Silver Linings: Keynesian Central Banking Is Heading For A Massive Repudiation
Silver Linings: Keynesian Central Banking Is Heading For A Massive Repudiation For several years now the small coterie of Keynesian academics and apparatchiks who have seized nearly absolute financial power through the Fed’s printing presses have justified the lunacy of unending ZIRP and massive QE on the grounds that there is too little inflation. The bureaucrats at the IMF […]
Why The Keynesian Market Wreckers Are Now Coming For Even Your Ben Franklins
Why The Keynesian Market Wreckers Are Now Coming For Even Your Ben Franklins Larry Summers is a pretentious Keynesian fool, but I refer to him as the Great Thinker’s Vicar on Earth for a reason. To wit, every time the latest experiment in Keynesian intervention fails——as 84 months of ZIRP and massive QE clearly have—–he can be counted on to trot out […]
The Federal Reserve and the Global Fracture
The Federal Reserve and the Global Fracture This interview with Michael Hudson was conducted by Finnish journalist Antti J. Ronkainen. Antti J. Ronkainen: The Federal Reserve is the most significant central bank in the world. How does it contribute to the domestic policy of the United States? Michael Hudson: The Federal Reserve supports the status […]
If Zero Interest Rates Fixed What’s Broken, We’d Be in Paradise
If Zero Interest Rates Fixed What’s Broken, We’d Be in Paradise Rather than fix what’s broken with the real economy, ZIRP/NIRP has added problems that only collapse can solve. The fundamental premise of global central bank policy is simple: whatever’s broken in the economy can be fixed with zero interest rates (ZIRP). And the linear extension […]
Deranged Central Bankers Blowing Up the World
DERANGED CENTRAL BANKERS BLOWING UP THE WORLD It is now self-evident to any sentient being (excludes CNBC shills, Wall Street shyster economists, and Keynesian loving politicians) the mountainous level of unpayable global debt is about to crash down like an avalanche upon hundreds of millions of willfully ignorant citizens who trusted their politician leaders and […]
Slouching Toward The Dark Side
Slouching Toward The Dark Side Last Wednesday we noted there is something rotten in the state of Denmark, meaning that the world’s great potemkin village of Bubble Finance is unraveling. The evidence piles up by the day. To wit, now comes still another story about the Red Paddy Wagons rolling out in China. This time they are rounding-up the proprietors of a $7.6 […]
Death Throes Of The Bull
Death Throes Of The Bull The fast money and robo-machines keep trying to ignite stock rallies, but they all fizzle because bad karma is beginning to infect the casino. That is, apprehension is growing among whatever adults are left on Wall Street that 84 months of ZIRP and $3.5 trillion of Fed balance sheet expansion, aka money printing, […]
The End Is Nigh for the Fed’s “Bubble Epoch”
The End Is Nigh for the Fed’s “Bubble Epoch” Market Mythology LONDON – Twice in the last 15 years, markets have tried to correct the mistakes and excesses of the Bubble Epoch. Each time, the Fed came back with even more mistakes and excesses. Trillions in new credit… lower lending rates… easier terms… ZIRP… QE… […]
