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Tag Archives: interest rates
Central Banks Have Lost Control Of The World
Central Banks Have Lost Control Of The World With the world’s oldest central bank – Sweden’s Riksbank – taking the plunge into negative rates, there have been 19 ‘eases’ by central banks this year, Morgan Stanley warns of “ghosts of the 1930s.” With competitive ‘easing’ stoking fears of international currency wars,The Telegraph notes however that looser monetary policy is […]
CEO Of Rosneft Compares Oil Market Manipulation Which “Doesn’t Reflect Reality” To Gold Price Rigging
CEO Of Rosneft Compares Oil Market Manipulation Which “Doesn’t Reflect Reality” To Gold Price Rigging It was a little under two years ago when, when oil and gas prices were both surging, Obama decided to punish the evil speculators whose fault the rise of oil was when he announced he would “give the Commodity Futures Trading […]
Failed Discipline, Failed Reforms and Grexit: Why the Euro Failed
Failed Discipline, Failed Reforms and Grexit: Why the Euro Failed There is no substitute for the discipline of a market that cannot be manipulated by political elites. It’s not that difficult to understand why the euro is doomed to fail. Given its structure, there is no other possible outcome but failure. Greece’s exit (Grexit) will simply […]
Fears over deflation thwarted Bank of England vote to raise interest rate
Fears over deflation thwarted Bank of England vote to raise interest rate Falling oil prices driving inflation down to 0.5% in January, forced Martin Weale and Ian McCafferty to back down Fears that Britain could sink into a damaging “deflationary spiral” have stayed the hands of Bank of England policymakers who had pushed for an early interest […]
Here’s a $9 Trillion Question
Here’s a $9 Trillion Question (Bloomberg) — When Group of 20 finance ministers this week urged the Federal Reserve to “minimize negative spillovers” from potential interest-rate increases, they omitted a key figure: $9 trillion. That’s the amount owed in dollars by non-bank borrowers outside the U.S., up 50 percent since the financial crisis, according to […]
Sweden Central Joins The NIRP Club: Lowers Interest Rate To -0.1%, Launches QE
Sweden Central Joins The NIRP Club: Lowers Interest Rate To -0.1%, Launches QE It’s a NIRP world and you are either in it, or are determined to lose the currency wars. And hours ago, the world’s oldest central bank, that of Sweden, announced that it too would join its NIRP peers in an attempt to […]
Audit The Fed——And Shackle It, Too
Audit The Fed——And Shackle It, Too The reason to be fearful about the economic and financial future is that we are in the thrall of a mainstream consensus that is downright meretricious. In attacking Rand Paul’s audit legislation, for instance, one of the time-servers on the Fed Board of Governors, Jerome H. Powell, let loose the following gem: […]
Anxiety and Interest Rates: How Uncertainty Is Weighing on Us
Anxiety and Interest Rates: How Uncertainty Is Weighing on Us Anxiety and uncertainty are weighing on individuals even where the overall economy is growing. Some of this angst is the fallout from advances in information technology. The Internet, ubiquitous computing, robotics, 3-D printers and the like are wonderful advances, yet they may also be personal […]
A Very Pernicious Partnership: Keynesian Money Printers And Wall Street Gamblers
A Very Pernicious Partnership: Keynesian Money Printers And Wall Street Gamblers No sooner was the January jobs report released than the Wall Street Journal posted a succinct headline: “Hiring, Wages Pick Up as Job Market Nears Full Health”. Whether the job market is actually as red hot as the BLS’ headline numbers is a debatable topic, but it […]
How Much Longer Can Central Banks Push Bonds to Absurdity?
How Much Longer Can Central Banks Push Bonds to Absurdity? Central banks around the world have fallen all over each other lowering their benchmark interest rates. On Tuesday, the Reserve Bank of Australia was the latest, cutting its cash rate to an all-time low of 2.25%. It didn’t mince words: “A lower exchange rate is […]
Rates Don’t Matter–Liquidity Matters
Rates Don’t Matter–Liquidity Matters The cure for systemic fragility is not low interest rates forever–it’s a market that transparently prices credit and risk for lenders and borrowers, qualified and marginal alike. One of the most unquestioned narratives out there is that the Federal Reserve raising interest rates from 0% to .25% (or .50%) will crush […]
Putin Fingerprints Seen All Over Surprise Interest-Rate Reversal
Putin Fingerprints Seen All Over Surprise Interest-Rate Reversal (Bloomberg) — The message some Russia watchers are getting from Friday’s surprise interest-rate cut is this: Start listening more to what President Vladimir Putin’s aides say about monetary policy and less to central bankers. Here’s the key evidence. In comments made just nine days ago, the country’s […]
Canada GDP shrinks, stirring talk of another rate cut
Canada GDP shrinks, stirring talk of another rate cut OTTAWA (Reuters) – Canada’s economy unexpectedly shrank by 0.2 percent in November, prompting market talk that the Bank of Canada will cut interest rates in March for the second time in six weeks. Analysts had expected no growth from October. The month-on-month decline was the largest since […]
Bank Of Russia Surprises With Unexpected Rate Cut, Brings YTD Total Of Nations Easing To 14
Bank Of Russia Surprises With Unexpected Rate Cut, Brings YTD Total Of Nations Easing To 14 Yesterday we reported that in less than 1 month in 2015, so far a whopping 13 countries have proceeded with “surprising” rate cuts: Singapore, Europe, Switzerland, Denmark, Canada, India, Turkey, Egypt, Romania, Peru, Albania, Uzbekistan and Pakistan. As of this morning, make […]
Axel Merk: Why Asset Prices Must Return To Lower Levels
Axel Merk: Why Asset Prices Must Return To Lower Levels It’s the price you pay for forcing capital to speculate Saying it’s been a busy week and half on the central bank front is perhaps a sizeable understatement. First, the Swiss National Bank stunned the world (and its brethren central banks) by removing its peg […]
