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China Proposes Unprecedented Nationalization Of Insolvent Companies: Banks Will Equitize Non-Performing Loans
China Proposes Unprecedented Nationalization Of Insolvent Companies: Banks Will Equitize Non-Performing Loans In what may be the biggest news of the day, and certainly with far greater implications than whatever Mario Draghi will announce in a few hours when we will again witness the ECB doing not “whatever it takes” but “whatever it can do”, moments ago Reuters […]
HSBC Looks At “Life Below Zero,” Says “Helicopter Money” May Be The Only Savior
HSBC Looks At “Life Below Zero,” Says “Helicopter Money” May Be The Only Savior In many ways, 2016 has been the year that the world woke up to how far down Krugman’s rabbit hole (trademark) DM central bankers have plunged in a largely futile effort to resuscitate global growth. For whatever reason, Haruhiko Kuroda’s move […]
An Escalating War on Cash
An Escalating War on Cash On February 16th, The Washington Post printed the article, “It’s time to kill the $100 bill.” This came on the heels of a CNNMoney item, the day before, entitled “Death of the 500 euro bill getting closer.” The former cited a recent Harvard Kennedy School working paper, No. 52 by Senior Fellow Peter Sands, concluding that […]
Draghi Lies Claiming withdrawing €500 note is for crime not Taxes
Draghi Lies Claiming withdrawing €500 note is for crime not Taxes The Hunt for Taxes While Mario Draghi has denied that the European Central Bank would only withdraw its €500 highest-denomination banknote to combat crime, not to curb the use of paper money, you really cannot expect that he would tell the truth. If he really told […]
Weekly Commentary: Draghi Ready to Fight
Weekly Commentary: Draghi Ready to Fight A few Friday Bloomberg headlines: “Asian Stocks Jump by Most in Four Months on Stimulus Speculation;” “Japanese Stocks Surge by Most in Four Months as Bears Retreat;” “Hong Kong Dollar Jumps Most in 12 Years as Global Stocks Rally.” It was quite a week. Back in early December I […]
Can’t Argue With a Confident Man
CAN’T ARGUE WITH A CONFIDENT MAN “I can say therefore with confidence – and without any complacency – that we will secure the return of inflation to 2% without undue delay, because we are currently deploying tools that we believe will achieve this, and because we can, in any case, deploy our tools further if […]
One Trader Loses It Over Draghi And Yellen’s Lies
One Trader Loses It Over Draghi And Yellen’s Lies Epsilon Theory’s Ben Hunt is one of our favorite commentators and market analysts. He is a very rational, even-keeled and objective observer and trader of the capital markets, no matter how broken or centrally-planned they may be. Which is why we were disappointed to see that […]
Sweden Launches MOAR QE, As Krugman Paradise Quadruples Down After Dovish Draghi
Sweden Launches MOAR QE, As Krugman Paradise Quadruples Down After Dovish Draghi Over the last six months, we’ve documented Sweden’s descent into the Keynesian Twilight Zone in great detail. Once upon a time, the Riksbank actually tried to raise rates, only to be lambasted by a furious Paul Krugman who accused the central bank of […]
Will this Manic Stock Market Rally End in Tears?
Will this Manic Stock Market Rally End in Tears? Can the stock market completely ignore these changes and keep powering higher on the fumes of Mario Draghi’s promises? Judging by October’s rocket launch, the stock market is back to where it should be, i.e. in rally mode. Yee-haw! All it took to keep the party going […]
Goldman Warns On Limits Of Central Bank Policy: “The Road To Hell Is Paved With Good Intentions”
Goldman Warns On Limits Of Central Bank Policy: “The Road To Hell Is Paved With Good Intentions” Back in May, we noted that minutes from the ECB’s April 14-15 policy meeting seem to reveal that the central bank is either obtuse or else suffering from a frightening bout of willful ignorance. Here’s are the excerpts which led […]
Both ECB And BOJ Warn More QE May Be Response To Chinese Currency War
Both ECB And BOJ Warn More QE May Be Response To Chinese Currency War Minutes from the ECB’s most recent policy meeting reveal that Mario Draghi and company have a number of concerns about the pace of economic growth in the euroarea and about the outlook for inflation which, much to the governing council’s surprise, […]
UK Furious At Proposed €7 Billion Greek Ponzi-Perpetuating Bridge Loan
UK Furious At Proposed €7 Billion Greek Ponzi-Perpetuating Bridge Loan The two most important stories out of Greece on Tuesday were: 1) the IMF’s leaked report on Greek debt sustainability, and 2) the race to secure between €7 and €12 billion in bridge financing to hold Greece over until the ESM gets off the ground. […]
The Test Of Central Bank Omnipotence May Be Upon Us.
The Test Of Central Bank Omnipotence May Be Upon Us. Suddenly what was discounted as a potential “isolated event” has come full circle to show just how contagious it may very well be. e.g., Greece. Over the last few months the financial media has not only turned deaf ears to the drama, (out of boredom) they […]
