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Tag Archives: monetary policy
Panic Below The Surface: “Banks Are Selling Energy Loans At Cents On The Dollar To Ensure Their Own Survival”
Panic Below The Surface: “Banks Are Selling Energy Loans At Cents On The Dollar To Ensure Their Own Survival” One week ago, when we commented on the latest weekly update from Credit Suisse’s very well hooked-in energy analyst James Wicklund, one particular phrase stuck out when looking at the upcoming contraction of Oil and Gas liquidity: “while […]
Why According To One Bank, Massive Central Bank Intervention Is Imminent
Why According To One Bank, Massive Central Bank Intervention Is Imminent Any time the relative performance of global financials to US Treasuries has stumbled as far as it has, as shown in the chart below, it has meant one thing – a major central bank intervention was imminent. At least that’s the interpretation of BofA’s Michael […]
Revolt against NIRP Breaks out, Bank of Japan “Baffled”
Revolt against NIRP Breaks out, Bank of Japan “Baffled” Meanwhile, exports collapse at fastest rate since 2009. This would be hilarious, if it weren’t so serious: Frazzled politicians, during a parliamentary session, lambasting the governor of their central bank over its new negative interest rate policy. But this is what happened in Japan. Central-bank imposed […]
NIRP Won’t Work – What Ray Dalio Thinks Central Banks Will Do Next
NIRP Won’t Work – What Ray Dalio Thinks Central Banks Will Do Next Just as we first warned in September 2013, so it seems the view of “helicopter money” being imminent is now becoming more mainstream as the powers that be slowly propagandize the benefits. If dropping interest rates to zero was Unorthodox Policy #1 and […]
Central Banking Goes Negative
Central Banking Goes Negative NEW HAVEN – In what could well be a final act of desperation, central banks are abdicating effective control of the economies they have been entrusted to manage. First came zero interest rates, then quantitative easing, and now negative interest rates – one futile attempt begetting another. Just as the first […]
The US Economy Has Not Recovered And Will Not Recover
The US Economy Has Not Recovered And Will Not Recover The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted corporate executives and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital […]
Why Did Japanese NIRP Cause Such Surprise In the Currency Market and Is It More Dangerous?
WHY DID JAPANESE NIRP CAUSE SUCH SURPRISE IN THE CURRENCY MARKET AND IS IT MORE DANGEROUS? The Bank of Japan announcement of NIRP sent shock waves through currency markets The Yen has strengthened on capital repatriation since the BoJ move JGB 10 year yields turned negative this week Longer-term the Yen will weaken At the […]
China Unleashes A Debt Tsunami: Creates $1 Trillion In Debt In First Two Months Of 2016
China Unleashes A Debt Tsunami: Creates $1 Trillion In Debt In First Two Months Of 2016 One of the more stunning economic updates this week was China’s unprecedented surge in Chinese loan creation, when as reported earlier this week, China unveiled a whopping CNY3.42 trillion in Total Social Financing, its broadest debt aggregate, an amount […]
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 […]
Markets Ignore Fundamentals And Chase Headlines Because They Are Dying
Markets Ignore Fundamentals And Chase Headlines Because They Are Dying Normalcy bias is a rather horrifying thing. It is so frightening because it is so final; much like death, there is simply no coming back. Rather than a physical death, normalcy bias represents the death of reason and simple observation. It is the death of […]
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 […]
50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills
50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills It was just last month when we profiled Canada’s “other problem”: record high household debt. Canada is struggling to cope with falling crude prices which have put enormous amounts of pressure on some parts of the country, most notably Alberta, where suicide […]
A Contagious Crisis Of Confidence In Corporate Credit
A Contagious Crisis Of Confidence In Corporate Credit Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a prolonged boom in “productive” Credit – surely fueled by some type of underlying monetary disorder – can […]
