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Time For Torches & Pitchforks——-The Little Guy Is About To Get Monkey-Hammered Again
Time For Torches & Pitchforks——-The Little Guy Is About To Get Monkey-Hammered Again The reputations of Ben and Janet are going to be eviscerated in 2016. That’s because the US economy will slide into recession in defiance of every claim they have made for their snake oil monetary policies. The plain fact is, massive falsification of financial markets via […]
Christmas 2015—–Why There Is No Peace On Earth
Christmas 2015—–Why There Is No Peace On Earth After the Berlin Wall fell in November 1989 and the death of the Soviet Union was confirmed two years later when Boris Yeltsin courageously stood down the red army tanks in front of Moscow’s White House, a dark era in human history came to an end. The world had descended into what had been a […]
The Keynesian Recovery Meme Is About To Get Mugged, Part 2
The Keynesian Recovery Meme Is About To Get Mugged, Part 2 Our point yesterday was that the Fed and its Wall Street fellow travelers are about to get mugged by the oncoming battering rams of global deflation and domestic recession. When the bust comes, these foolish Keynesian proponents of everything is awesome will be caught like deer in the […]
Sell The Bonds, Sell The Stocks, Sell The House —–Dread The Fed!
Sell The Bonds, Sell The Stocks, Sell The House —–Dread The Fed! There is going to be carnage in the casino, and the proof lies in the transcript of Janet Yellen’s press conference. She did not say one word about the real world; it was all about the hypothecated world embedded in the Fed’s tinker toy […]
Today Will Be a Watershed Moment for Financial Markets
Today Will Be a Watershed Moment for Financial Markets I believe the world is at the greatest financial market inflection point since 1929. One that calls for a basic truism: You can make a profit in a rising market if you are long. And you can profit in falling market if you are short. The […]
A Full Trunk Of Combustible Junk——The Wages Of ZIRP
A Full Trunk Of Combustible Junk——The Wages Of ZIRP Shuffling uncomfortably with paint brushes in hand in the tight monetary corner into which they have painted themselves, our monetary suzerains are about to demonstrate the folly of their seven-year stint of “extraordinary” policy accommodation. Even as ZIRP and QE have failed to rejuvenate the main street economy, they did trigger a far-reaching […]
December 16, 2015—–When The End Of The Bubble Begins
December 16, 2015—–When The End Of The Bubble Begins They are going to layer their post-meeting statement with a steaming pile of if, ands & buts. It will exude an abundance of caution and a dearth of clarity. Having judged that a 25 bps pinprick is warranted, the FOMC will then plant itself firmly in front of the great flickering dashboard in the […]
The Russia/Turkey Clash———Some Relevant History
The Russia/Turkey Clash———Some Relevant History Turn to page 214 in the book “War-making for Dummies.” You will find: “plan air operations right on your neighbor’s border, zig in and zag out, make rude gestures at enemy pilots, and shoot them down if you can.” On Tuesday this week, the inevitable air clash occurred on the […]
Wall Street Remains Clueless—–Even As The Brown Stuff Heads Straight Into The Fan
Wall Street Remains Clueless—–Even As The Brown Stuff Heads Straight Into The Fan The Dow should have been down 500 points Tuesday. And that’s to say nothing of the fact that the market’s current lofty valuation makes no sense in the first place. The fact is, the brown stuff is now heading straight for the fan. Didn’t the odds of a […]
The $4.6 Trillion Leveraged Loan Market—–Next Crisis In The Making
The $4.6 Trillion Leveraged Loan Market—–Next Crisis In The Making Financial crises take about a decade to be born. Having lived through four of them, I see the raw materials for a fifth one — flowing from the collapse of so-called leveraged loans — debt piled on top of companies with weak credit ratings. Before examining […]
Blowback—–The Washington War Party’s Folly Comes Home To Roost
Blowback—–The Washington War Party’s Folly Comes Home To Roost Exactly 26 years ago last week, peace was breaking out in a manner that the world had not experienced since June 1914. The Berlin Wall—-the symbol of a century of state tyranny, grotesque mass warfare and the nuclear sword of Damocles hanging over the planet—-had come tumbling down […]
The Bubble Finance Cycle——What Our Keynesian School Marm Doesn’t Get
The Bubble Finance Cycle——What Our Keynesian School Marm Doesn’t Get The world of Bubble Finance economies created by the Fed and other central banks is fundamentally different than that prevailing under the “Lite Touch” monetary policies which preceded the Greenspan era. Those essentially reactive and minimally invasive central bank intrusions into the money and capital markets prevailed from the time of the Fed’s […]
Professor Bernanke’s Bogus Contra-factual, Part 2: Why The Friedman/Bernanke Thesis About The Great Depression Was Dead Wrong
Professor Bernanke’s Bogus Contra-factual, Part 2: Why The Friedman/Bernanke Thesis About The Great Depression Was Dead Wrong In explaining to the FT’s Martin Wolf why he bailed out the Wall Street gamblers at Goldman Sachs and Morgan Stanley while crushing millions of ordinary American savers and retirees, Bernanke typically repaired to his go to argument. It had nothing to do with […]
Embracing The Dark Side: A Short History Of The Pathological Neocon Quest For Empire
Embracing The Dark Side: A Short History Of The Pathological Neocon Quest For Empire When Bill Kristol watches Star Wars movies, he roots for the Galactic Empire. The leading neocon recently caused a social media disturbance in the Force when he tweeted this predilection for the Dark Side following the debut of the final trailer for Star Wars: The Force Awakens. Kristol […]
Professor Bernanke’s Bogus Contra-factual, Part 1: The Myth Of Great Depression 2.0
Professor Bernanke’s Bogus Contra-factual, Part 1: The Myth Of Great Depression 2.0 It took no “courage” whatsoever to inflate the Fed’s balance sheet from $900 billion to $2.3 trillion during just 17 weeks in September-December 2008. What it actually took was an epochal con job by a naïve Keynesian academic whose single idea about economics was primitive, self-serving, borrowed and […]
