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The Destruction of the Dollar
The Destruction of the Dollar “Inflation” occurs when the creation of currency outruns the creation of real wealth it can bid for… It isn’t caused by price increases; rather, it causes price increases. Inflation is not caused by the butcher, the baker, or the auto maker, although they usually get blamed. On the contrary, by […]
How Central Banks Widen Wealth and Income Gaps
How Central Banks Widen Wealth and Income Gaps The Federal Reserve’s latest Survey of Consumer Finances, according to Federal Reserve Governor Brainard, shows that the share of income held by the top 1 percent of households has risen from 17 percent in 1988 to 24 percent in 2015, and that the wealth held by that […]
700 Years Of Data Suggests The Reversal In Rates Will Be Rapid
700 Years Of Data Suggests The Reversal In Rates Will Be Rapid Have we been lulled into a false sense of security about the future path of rates by ZIRP/NIRP policies? Central banks’ misguided efforts to engineer inflation have undoubtedly been woefully feeble, so far. As the Federal Reserve “valiantly” raises short rates, markets ignore […]
Ron Paul: We Are Reaching A Point Of No Return
Ron Paul: We Are Reaching A Point Of No Return When the system will break no matter what the Fed tries Dr. Ron Paul has long been a leading voice for limited constitutional government, low taxes, free markets, sound money, civil liberty, and non-interventionist foreign policies. Dr. Paul served as the US Representative for Texas’s […]
What Could Go Wrong?
What Could Go Wrong? Everybody and his uncle, and his uncle’s mother’s uncle, believes that the stock markets will be zooming to new record highs this week, and probably so, because it is the time of year to fatten up, just as the Thanksgiving turkeys are happily fattening up — prior to their mass slaughter. […]
The Swiss National Bank Now Owns A Record $88 Billion In US Stocks
The Swiss National Bank Now Owns A Record $88 Billion In US Stocks In the third quarter of 2017, one in which the global economy was supposedly undergoing a unprecedented “coordinated growth spurt”, and in which central banks were preparing to unveil their QE tapering intentions, in the case of the ECB, or raising rates […]
The Curious Case of Missing Defaults
THE CURIOUS CASE OF THE MISSING DEFAULTS CAMBRIDGE – Booms and busts in international capital flows and commodity prices, as well as the vagaries of international interest rates, have long been associated with economic crises, especially – but not exclusively – in emerging markets. The “type” of crisis varies by time and place. Sometimes the […]
Low Interest Rates Subsidize Wealthy Households
LOW INTEREST RATES SUBSIDIZE WEALTHY HOUSEHOLDS When the economy begins to sink into recession, politicians, mainstream economists, policy wonks, and the Federal Reserve begin beating the economic stimulus drum. Politicians, however, disagree over the type of stimulus to implement. The center-left party proposes greater expenditures on public assistance programs. The center-right party supports permanent tax […]
Federal Reserve Hesitates on QE Unwind / Balance Sheet Reduction
Federal Reserve Hesitates on QE Unwind / Balance Sheet Reduction Is the Federal Reserve’s Great Unwind already coming unwound? I thought it would be good to check up on Federal Reserve balance sheet reduction since the Fed is supposed to be up and running on the move out of quantitative easing this month. It should […]
The Downright Sinister Rearrangement of Riches
The Downright Sinister Rearrangement of Riches Simple Classifications Let’s begin with facts. Cold hard unadorned facts. Water boils at 212 degrees Fahrenheit at standard atmospheric pressure. Squaring the circle using a compass and straightedge is impossible. The sun is a star. The sun is not just a star, it is a benevolent star. Look, it […]
Stabbing With Their Steely Knives, They Just Can’t Kill the Beast
Stabbing With Their Steely Knives, They Just Can’t Kill the Beast You were blameless in your ways from the day you were created till wickedness was found in you. Through your widespread trade you were filled with violence, and you sinned. So I drove you in disgrace from the mount of God, and I expelled […]
Observations on Wealth-Income Inequality (from Federal Reserve Reports)
Observations on Wealth-Income Inequality (from Federal Reserve Reports) There’s a profound difference between assets that produce no income and those that produce net income. To those of us nutty enough to pore over dozens of pages of data on wealth and income in the U.S., the Federal Reserve’s quarterly Z.1 reports and annual Survey of […]
Necessity is the Mother of Invention–Retirees Desperate Reach for Yield
NECESSITY IS THE MOTHER OF INVENTION – RETIREES DESPERATE REACH FOR YIELD Ben Bernanke’s creativity inspired a generation of economists and central bankers. QE, ZIRP and NIRP established a new class of economics that is mathematically sound but practically disastrous. Billions of dollars were transferred from savers to investors to boost the economy, but the […]
Low Interest Rates Subsidize Wealthy Households
Low Interest Rates Subsidize Wealthy Households When the economy begins to sink into recession, politicians, mainstream economists, policy wonks, and the Federal Reserve begin beating the economic stimulus drum. Politicians, however, disagree over the type of stimulus to implement. The center-left party proposes greater expenditures on public assistance programs. The center-right party supports permanent tax […]
