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Oops! Philly Fed Admits QE widens inequality
Oops! Philly Fed Admits QE widens inequality Once again, the Federal Reserve proves that it’s the last one to know everything that we knew already. Today’s stunning announcement: The Philadelphia Fed admits they (“may have”) made the wealthy wealthier and Main Street poorer. Oops. Sorry America. The Philly Fed insists that “redistributing wealth” to the wealthy isn’t the main […]
The Punch Bowl Stays And The Bubble Keeps Inflating
The Punch Bowl Stays And The Bubble Keeps Inflating It is well known that I don’t think much of the ability of government officials to correctly forecast much of anything. Alan Greenspan and Ben Bernanke have made famously clueless predictions with respect to stock and housing bubbles, and rank and file Fed economists have consistently overestimated […]
Something Smells Fishy
SOMETHING SMELLS FISHY It’s always interesting to see a long term chart that reflects your real life experiences. I bought my first home in 1990. It was a small townhouse and I paid $100k, put 10% down, and obtained a 9.875% mortgage. I was thrilled to get under 10%. Those were different times, when you […]
The Central Problem with Central Banks: They Become the Greater Fools/Bag-Holders
The Central Problem with Central Banks: They Become the Greater Fools/Bag-Holders Those who are confident the central banks can print unlimited money may find there are political and financial consequences to such extremes that cannot be foreseen. The central problem with central banks is their mandate now includes propping up all asset markets globally. Back in […]
Eating The Seed Corn—–The Fed’s Horrid Corruption Of Corporate Finance
Eating The Seed Corn—–The Fed’s Horrid Corruption Of Corporate Finance Central bank financial repression results in the systematic and severe mispricing of financial assets. And that has sweeping consequences far beyond the munificent windfalls it bestows on the thin slice of mankind that frequents the casinos of Wall Street, London, Tokyo and Shanghai. The fact is, the […]
The Inevitable Failure of Mechanistic Monetary Policy
The Inevitable Failure of Mechanistic Monetary Policy Our current faith in central banks’ ability to “make the economy all better, all the time” is horrendously misplaced. We are living in the Cargo Cult Era of Central Bankers. The era began in earnest on December 5, 1996, when Federal Reserve chairman Alan Greenspan cautiously wondered aloud if […]
From Bubble-Blower To Energy Expert, Alan Greenspan Warns “Oil Hasn’t Bottomed Yet”
From Bubble-Blower To Energy Expert, Alan Greenspan Warns “Oil Hasn’t Bottomed Yet” Having recently explained why the stock market is extremely overvalued (in his own words by Fed-driven multiple expansion alone), Alan Greenspan – seemingly brimming over with the need to remedy his years of lies/mistruths with some uncomfortable truthiness – is now taking on the […]
Insider Alan Greenspan Warns of Explosive Inflation: “Tinderbox Looking For a Spark”
Insider Alan Greenspan Warns of Explosive Inflation: “Tinderbox Looking For a Spark” Last month it was revealed that former federal reserve Chairman Alan Greenspan, the architect of U.S. monetary policy under four Presidents, is anticipating a significant market event as a result of the trillions of dollars that have been pumped into the system over the last several […]
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 […]
Federal Reserve Insider Alan Greenspan Warns: There Will Be a “Significant Market Event… Something Big Is Going To Happen”
Federal Reserve Insider Alan Greenspan Warns: There Will Be a “Significant Market Event… Something Big Is Going To Happen” With the Federal Reserve printing trillions upon trillions of dollars to keep the economic system afloat, many investors and financial pundits have surmised that the fundamental economic problems facing the United States during the crash of […]
Gold & Economic Freedom | Zero Hedge
Gold & Economic Freedom | Zero Hedge. …by Alan Greenspan Published in Ayn Rand’s “Objectivist” newsletter in 1966, and reprinted in her book, Capitalism: The Unknown Ideal, in 1967. An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense — perhaps more clearly and subtly […]
Greenspan’s Stunning Admission: “Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It” | Zero Hedge
Greenspan's Stunning Admission: "Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It" | Zero Hedge. For some reason, the Council of Foreign Relations, where ex-Fed-Chief Alan Greenspan spoke last week, decided the following discussion should be left out of the official transcript. We can perhaps understand why… as Gillian Tett concludes, “comments […]
