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Bank of Japan: The Limits of Monetary Tinkering
Bank of Japan: The Limits of Monetary Tinkering Damned If You Do… After waking up on Thursday, we quickly glanced at the overnight market action in Asia and noticed that the Nikkei had tanked rather noticeably. Our first thought upon seeing this was “must be the yen” – and so it was: June yen futures, […]
Failure of Abenomics
Failure of Abenomics Abenomics (アベノミクス Abenomikusu ?) in Japan are the economic policies advocated by Shinzō Abe since the December 2012 general election, which elected Abe to his second term as Prime Minister of Japan. Abenomics is based upon “three arrows” of fiscal stimulus, monetary easing and structural reforms. This has been a complete failure as the economy continue […]
“We Aren’t Thinking About It At All”, Or How Kuroda Just Assured That Helicopter Money Is Coming To Japan
“We Aren’t Thinking About It At All”, Or How Kuroda Just Assured That Helicopter Money Is Coming To Japan On Friday, courtesy of a Deutsche Bank report laughably titled Helicopter Money 101, we showed how to trade the coming helicopter money paradrop that will be provided by central banks in the very near future. When asking the […]
Former IMF Chief Economist Admits Japan’s “Endgame” Scenario Is Now In Play
Former IMF Chief Economist Admits Japan’s “Endgame” Scenario Is Now In Play Back in October 2014, just after the BOJ drastically expanded its QE operation, we warned that the biggest risk facing the BOJ (and the ECB, and the Fed, and all other central banks actively soaking up securities from the open market) was a lack […]
Quantitative to Qualitative–Is Unelected Nationalisation Next?
QUANTITATIVE TO QUALITATIVE – IS UNELECTED NATIONALISATION NEXT? Last year, in a paper entitled The Stock Market Crash Really Did Cause the Great Recession – Roger Farmer of UCLA argued that the collapse in the stock market was the cause of the Great Recession:- In November of 2008 the Federal Reserve more than doubled the monetary base […]
Japan Prints Additional ¥10,000 Bills As People Scramble To Stash Away Cash
Japan Prints Additional ¥10,000 Bills As People Scramble To Stash Away Cash Long before negative interest rates shifted from the monetary twilight zone into the mainstream (with some 30% of global government bonds now trading with a subzero yield), one organization wrote a report warning about the dangers of NIRP. The NY Fed. Back in […]
Mises.org: And So It Begins…Negative Interest Rates Trickle Down in Japan
MISES.ORG: AND SO IT BEGINS… NEGATIVE INTEREST RATES TRICKLE DOWN IN JAPAN The negative interest rates imposed by the Bank of Japan have begun to make their way into the Japanese banking system. Japanese trust banks have begun to impose negative interest rateson accounts held by institutional investors. It shouldn’t be surprising that Japanese banks are […]
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves Much like BoJ governor Haruhiko Kuroda, Paul Krugman thinks that the key for Japan when it comes to overcoming decades of deflation is a positive outlook. “Japan needs to reach a point where everyone believes that it has pulled out of […]
Yellen, Draghi, Kuroda: Deranged Lab Rats
YELLEN, DRAGHI, KURODA: DERANGED LAB RATS The stock market has regained all of its loses year to date as economic indicators continue to flash red, corporate profits continue to plunge, consumers continue to spend less at retailers, real wages continue to fall, and housing sales continue to decline. The entire dead cat bounce has been […]
Draghobert the Terrible Strikes Again
Draghobert the Terrible Strikes Again A Whiff of Panic Ahead of Thursday’s ECB meeting, there was a widespread consensus that Europe’s chief printing press supervisor would make up for the alleged “mistake” of under-delivering on monetary lunacy last time around. Therefore, a sizable dose of fresh absurdities had to be expected, with only small disagreements on […]
Mr. MORE!
Mr. MORE! The Man with the Inflation Plan Proving beyond a shadow of doubt that Keynesian absurdity knows no bounds, Larry Summers has graced the FT – one of the West’s premier establishment propaganda mouthpieces advocating central economic planning as practiced by modern-day regulatory democracies – with yet another cringe-worthy editorial. Larry Summers – it […]
The Market Has Lost Faith In Our Board, Bank Of International Settlements Laments
The Market Has Lost Faith In Our Board, Bank Of International Settlements Laments The BIS’ Claudio Borio was vindicated in January – and it was a long time coming. When last we checked in with Claudio, it was December and the bank’s Head of the Monetary and Economic Department was busy explaining what may befall […]
The Global Run On Physical Cash Has Begun: Why It Pays To Panic First
The Global Run On Physical Cash Has Begun: Why It Pays To Panic First Back in August 2012, when negative interest rates were still merely viewed as sheer monetary lunacy instead of pervasive global monetary reality that has pushed over $6 trillion in global bonds into negative yield territory, the NY Fed mused hypothetically about […]
