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Tag Archives: central banks
Do Financial Markets Still Exist?
Do Financial Markets Still Exist? For many decades the Federal Reserve has rigged the bond market by its purchases. And for about a century, central banks have set interest rates (mainly to stabilize their currency’s exchange rate) with collateral effects on securities prices. It appears that in May 2010, August 2015, January/February 2016, and currently […]
Its Different This Time
IT’S DIFFERENT THIS TIME Remember all those bullish studies market pundits were passing around in early January? Do you recall the parroting about “how goes January, the rest of the year follows?” It’s easy to forget, but many market strategists were falling all over themselves bullish just a couple of weeks ago (see Parabolic Moves […]
Swan Song Of The Central Bankers, Part 1: Last Week Wasn’t An Error
Swan Song Of The Central Bankers, Part 1: Last Week Wasn’t An Error Last week’s twin 1,000 point plunges on the Dow were not errors. Instead, these close-coupled massacres, which wiped out $4 trillion of global market cap in two days, marked the beginning of a bear market that will be generational, not a temporary cyclical downleg. What hit […]
Don’t Expect A Central Bank Bailout This Time, ECB’s Nowotny Warns
Don’t Expect A Central Bank Bailout This Time, ECB’s Nowotny Warns To all those hoping for a sign or signal from central bankers that the recent correction in US stocks was necessary and sufficient for intervention, here are some disappointing examples of what they have said recently: “If stock prices or asset prices more generally […]
The stock market swoon and our hatred of (some kinds of) volatility
The stock market swoon and our hatred of (some kinds of) volatility The steepest one-day point drop in the history of the Dow Jones Industrial Average last week shook stock investors into an awareness that all is not sweetness and light in the financial markets. The sudden downside stock market volatility had been preceded by […]
Three Crazy Things We Now Accept as “Normal”
Three Crazy Things We Now Accept as “Normal” How can central banks “retrain” participants while maintaining their extreme policies of stimulus? Human habituate very easily to new circumstances, even extreme ones. What we accept as “normal” now may have been considered bizarre, extreme or unstable a few short years ago. Three economic examples come to […]
Central Bank Musical Chairs
Central Bank Musical Chairs If the last few stock market days are interrupting your sleep, Jim Bianco and CNBC’s Rick Santelli are saying, get used to it. The total assets of all central banks hit $16.4 trillion plus (an all-time high) and these banks now, collectively, own 33 percent of all the world’s sovereign bonds […]
From the Moneyness Blog: Electronic Money Will Only Save Central Banks From Subjugation if it is Anonymous
FROM THE MONEYNESS BLOG: ELECTRONIC MONEY WILL ONLY SAVE CENTRAL BANKS FROM SUBJUGATION IF IT IS ANONYMOUS 50 SEK banknote issued by the Riksbank in 1960 “Do we need an eKrona?” asks Stefan Ingves, the Governor of the Riksbank, Sweden’s central bank. The Riksbank is probably the central bank that has advanced the furthest in discussions surrounding […]
ECB “In Touch With Market Participants” Over Market Crash; White House “Concerned”
ECB “In Touch With Market Participants” Over Market Crash; White House “Concerned” In a double whammy of panic about the fate of the artificial “wealth effect” created thanks to $20 trillion in central bank liquidity, officials at both the White House and Europe’s largest hedge fund expressed concerns about the market rout that saw the […]
Weekly Commentary: The Grand Crowded Trade of Financial Speculation
Weekly Commentary: The Grand Crowded Trade of Financial Speculation Even well into 2017, variations of the “secular stagnation” thesis remained popular within the economics community. Accelerating synchronized global growth notwithstanding, there’s been this enduring notion that economies are burdened by “insufficient aggregate demand.” The “natural rate” (R-Star) has sunk to a historical low. Conviction in […]
It’s Looking A Lot Like 2008 Now…
It’s Looking A Lot Like 2008 Now… Did today’s market plunge mark the start of the next crash? Economic and market conditions are eerily like they were in late 2007/early 2008. Remember back then? Everything was going great. Home prices were soaring. Jobs were plentiful. The great cultural marketing machine was busy proclaiming that a […]
The Pension Ponzi Scheme is Coming to an End
The Pension Ponzi Scheme is Coming to an End Inevitably, all things must come to an end. Our entire problem with government is we have ZERO accountability and ZEROqualification standards to even run for office. The Democrats have put forth blacks and women, not because of their abilities, but simply because they want to […]
Greenspan Warns: “We Have A Stock Market Bubble”
Greenspan Warns: “We Have A Stock Market Bubble” US equity markets stumbled notably as former Fed Chair Alan Greenspan told Bloomberg TV that “we have a stock market bubble.” Greenspan stuck to his usual discussion topics of low productivity and fiscal doomsday inevitability… “Productivity has been dead in the water for the past 10 years… […]
