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Political Economics
Political Economics Who President Trump ultimately picks as the next Federal Reserve Chairman doesn’t really matter. Unless he goes really far afield to someone totally unexpected, whoever that person will be will be largely more of the same. It won’t be a categorical change, a different philosophical direction that is badly needed. Still, politically, it […]
Weekly Commentary: Arms Race in Bubbles
Weekly Commentary: Arms Race in Bubbles The week left me with an uneasy feeling. There were a number of articles noting the 30-year anniversary of the 1987 stock market crash. I spent “Black Monday” staring at a Telerate monitor as a treasury analyst at Toyota’s US headquarters in Southern California. If I wasn’t completely in […]
Into the Cold and Dark
Into the Cold and Dark It amuses me that the nation is so caught up in the sexual mischief of a single Hollywood producer when the nation as a whole is getting fucked sideways and upside down by its own political caretakers. Behind all the smoke, mirrors, Trump bluster, Schumer fog, and media mystification about […]
Krugman and the “Heroic” Fed
Krugman and the “Heroic” Fed Once an avid reader of Paul Krugman’s New York Times twice-weekly columns, I admit to rarely even glancing at his work now, since I know that anything he writes is going to have the theme of “Trump evil, Democrats good” each time, and it doesn’t take long to get one’s […]
Looming Catastrophe Hanging Over Our Heads
Looming Catastrophe Hanging Over Our Heads Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on “phony profits” that come from global central banks “propping up” the financial system. Roberts says, “Any of these central banks are really only there […]
Fed Confused About What Drives Inflation
FED CONFUSED ABOUT WHAT DRIVES INFLATION On October 4 2017, the former governor of the Federal Reserve Daniel Tarullo in a speech at the Brookings think-tank in Washington said Fed policy makers do not have a reliable theory of what drives inflation. According to Tarullo, central bankers should pay less attention to theoretical models and […]
WORLD’S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket
WORLD’S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket The world’s largest oil companies are in serious trouble as their balance sheets deteriorate from higher costs, falling profits and skyrocketing debt. The glory days of the highly profitable global oil companies have come to an end. All that remains now is a […]
Richard Sylla: 70% to 80% Chance of Another Global Financial Crisis
Richard Sylla: 70% to 80% Chance of Another Global Financial Crisis When Janet Yellen, Chairman of the US Federal Reserve, said in June that she does not expect another financial crisis in our lifetime, eyebrows were raised. None more so than Richard Sylla’s. Sylla, a professor emeritus at the Stern School of Business and co-author […]
Nonsensical Global Worries Over Subdued Inflation: Yellen, Draghi, Kuroda
Nonsensical Global Worries Over Subdued Inflation: Yellen, Draghi, Kuroda Central bank presidents at the Fed, the ECB, and Bank of Japan are all concerned over low inflation. The Fed wants to hike anyway, but the Bank of Japan will keep pursuing aggressive monetary easing. Meanwhile, asset prices are in the biggest ever bubble. Bank of […]
The Upcoming Increase in Interest Rates
THE UPCOMING INCREASE IN INTEREST RATES Last week, both Janet Yellen of the Fed and Mark Carney of the Bank of England prepared financial markets for interest rate increases. The working assumption should be that this was coordinated, and that both the ECB and the Bank of Japan must be considering similar moves. Central banks […]
Eric Peters: “This Is The Nightmare Scenario For The Next Fed Chair”
Eric Peters: “This Is The Nightmare Scenario For The Next Fed Chair” While we will have much more to share from the latest weekend letter by One River’s Eric Peters shortly, we found the following section on inflation vs asset bubbles – a topic which BofA’s Michael Hartnett has been focusing extensively on in the […]
The Fed’s Massive Bubble Is Leading To Massive Economic Pain
The Fed’s Massive Bubble Is Leading To Massive Economic Pain There shouldn’t be a Federal Reserve, but it exists, and it’s constantly creating a world of economic pain. Each Federal Reserve bubble must turn into a bust. It’s unavoidable. According to the central planners, the “solution” for the bust is more creation of new money […]
Three Scenarios for the Global Economy
Zhang Peng/Getty Images Three Scenarios for the Global Economy The International Monetary Fund, which in recent years had characterized global growth as the “new mediocre,” recently upgraded its World Economic Outlook. But is the IMF right to think that the recent growth spurt will continue over the next few years, or is a temporary cyclical […]
The Tale of Two America’s…Urban Rise, Rural Demise, Rationale to Hyper-Monetize
The Tale of Two America’s…Urban Rise, Rural Demise, Rationale to Hyper-Monetize (The following was written as an outline for a potential book. To this point no publisher has shown interest and time and funds have run out.) America is in the midst of an ongoing and accelerating shift in demographics and population growth. These trends, long […]
Federal Reserve President Kashkari’s Masterful Distractions
Federal Reserve President Kashkari’s Masterful Distractions The True Believer How is it that seemingly intelligent people, of apparent sound mind and rational thought, can stray so far off the beam? How come there are certain professions that reward their practitioners for their failures? The central banking and monetary policy vocation rings the bell on […]
