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Bernanke’s New Helicopter Money Plan——-Sheer Destructive Lunacy
Bernanke’s New Helicopter Money Plan——-Sheer Destructive Lunacy If you don’t think the current central bank driven economic and financial bubble is going to end badly, recall a crucial historical fact. To wit, the worldwide race of central banks to the zero bound and NIRP and their $10 trillion bond-buying spree during the last seven years was the brain child of Ben S […]
The New Middle Kingdom Of Concrete And The Red Depression Ahead
The New Middle Kingdom Of Concrete And The Red Depression Ahead No wonder the Red Ponzi consumed more cement during three years (2011-2013) than did the US during the entire twentieth century. Enabled by an endless $30 trillion flow of credit from its state controlled banking apparatus and its shadow banking affiliates, China went berserk building factories, warehouses, ports, office towers, […]
Yelling ‘Stay’ In A Burning Theater—–Yellen Ignites Another Robo-Trader Spasm
Yelling ‘Stay’ In A Burning Theater—–Yellen Ignites Another Robo-Trader Spasm Simple Janet has attained a new milestone as a public menace with her speech to the Economic Club of New York. It amounted to yelling “stay” in a burning theater! The stock market has been desperately trying to correct for months now because even the casino regulars can read the tea […]
A Scam Called Valeant——Why The Casino Is Going To Blow
A Scam Called Valeant——Why The Casino Is Going To Blow If you need evidence that Wall Street is a financial time bomb waiting for ignition look no further than the recent meltdown of Valeant Pharmaceuticals (VRX). In round terms, its market cap of $90 billion on August 5th has suddenly become the embodiment of that proverbial sucking sound […]
Impaled On Its Own Petard——The Fed’s Folly Festers Further
Impaled On Its Own Petard——The Fed’s Folly Festers Further Listening to even a small portion of Simple Janet’s incoherent babble makes very clear that the nation’s central bank is well and truly impaled on its own petard. According to the dictionary, the latter term refers to….. …….. a small bomb used for blowing up gates and walls when breaching […]
Here Comes The Big Flush—–Recession Pending, Fed ‘Put’ Ending
Here Comes The Big Flush—–Recession Pending, Fed ‘Put’ Ending Talk about sheep being led to the slaughter. The S&P 500 is up 11% from its February 11th intra-day low (1812) because Wall Street still has inventory to unload. That much is par for the course. Yet the signs of an impending macroeconomic and profits implosion are now so overwhelming […]
David Stockman: Thanks for the Corporate Bond Bubble, Fed
DAVID STOCKMAN: THANKS FOR THE CORPORATE BOND BUBBLE, FED Once upon a time businesses borrowed long term money—-if they borrowed at all—-in order to fund plant, equipment and other long-lived productive assets. That kind of debt was self-liquidating in the sense that it usually generated a stream of income and cash flow that was sufficient to […]
The World Economy Wreckers Of Beijing
The World Economy Wreckers Of Beijing The desperate suzerains of the Red Ponzi are incorrigible. There appears to be no insult to economic rationality that they will not attempt in order to perpetuate their power, privileges and rule. So now comes the most preposterous gambit yet. Namely, a veritable tsunami of state handouts to foster, yes, capitalist […]
Why This Sucker Is Going Down——The Case Of Japan’s Busted Bond Market
Why This Sucker Is Going Down——The Case Of Japan’s Busted Bond Market The world financial system is booby-trapped with unprecedented anomalies, deformations and contradictions. It’s not remotely stable or safe at any speed, and most certainly not at the rate at which today’s robo-machines and fast money traders pivot, whirl, reverse and retrace. Indeed, every day there are new ructions […]
The Price Isn’t Right——-How Central Banks Are Fixing To Ambush The Casino
The Price Isn’t Right——-How Central Banks Are Fixing To Ambush The Casino The casino is incorrigible. After a monumental short squeeze that has lifted the averages right into the jaws of danger, Goldman Sachs has the temerity to print the following: “Our model suggests SPX calls are more attractive than at any time over the past 20 years”. […]
The G-20s Big Fat Zero——Now Comes The Bubble’s Demise!
The G-20s Big Fat Zero——Now Comes The Bubble’s Demise! The tens of millions of taxpayer money wasted at the G-20’s Shanghai soirée had a silver lining. The assembled masters of world finance came up with a big fat zero on the coordinated global stimulus front. So doing, they essentially admitted that their money printing central banks are out of dry powder (“…but monetary […]
Here Comes The Red Swan And Other Reasons To Be Very Afraid
Here Comes The Red Swan And Other Reasons To Be Very Afraid The Red Chip casino took another one of its patented 6.5% belly flops last night. In fact, more than 1,300 stocks in Shanghai and Shenzhen fell by 10%—the maximum drop permitted by regulators in one day—–implying that the real decline was far deeper. This renewed carnage was the […]
Financial Time Bombs Hiding In Plain Sight
Financial Time Bombs Hiding In Plain Sight The bear will soon be arriving in earnest, marauding through the canyons of Wall Street while red in tooth and claw. Our monetary central planners, of course, will once again—for the third time this century——be utterly shocked and unprepared. That’s because they have spent the better part of two decades deforming, distorting, denuding and destroying what were once […]
David Stockman CNBC Interview: “I don’t Know What The Bulls Are Smoking”
David Stockman CNBC Interview: “I don’t Know What The Bulls Are Smoking” Anyone who believes that the global economy isn’t crashing must be delirious, according to David Stockman. The former director of the Office of Management and Budget argues that a rapidly deteriorating economic environment is going to send stocks and oil prices spiraling even […]
Silver Linings: Keynesian Central Banking Is Heading For A Massive Repudiation
Silver Linings: Keynesian Central Banking Is Heading For A Massive Repudiation For several years now the small coterie of Keynesian academics and apparatchiks who have seized nearly absolute financial power through the Fed’s printing presses have justified the lunacy of unending ZIRP and massive QE on the grounds that there is too little inflation. The bureaucrats at the IMF […]
