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Former Fed Advisor: State Pensions Time Bomb Spells Disaster For The US
Former Fed Advisor: State Pensions Time Bomb Spells Disaster For The US Underfunded government pensions to the tune of $1.3 trillion, with a gap that just can’t be filled, is the ticking time bomb facing the US economy which faces dramatic cuts in public services – and potentially riots reminiscent of Athens six years ago […]
Currency Armageddon? A Word about the Hated Dollar
Currency Armageddon? A Word about the Hated Dollar The “death of the dollar” will have to be rescheduled. Sharply higher yields on Treasury securities and the prospect of more rate hikes by the Fed – in a world where other major central banks are still stewing innocent bystanders in the juices of NIRP, negative yields, and […]
This is How Consumers Turn into Debt Slaves
This is How Consumers Turn into Debt Slaves The Fed likes the word “credit.” Sounds less onerous than “debt.” Consumer debt rose by $19.3 billion in September to $3.71 trillion, another record in a five-year series of records, the Federal Reserve’s Board of Governors reported on Monday. Consumer debt is up 6% from a year ago, […]
Wolf Richter: The Economy Is Cracking Under Too Much Debt
Wolf Richter: The Economy Is Cracking Under Too Much Debt Housing, restaurants & retail are suffering Wolf Richter joins the podcast this week to discuss the deterioration of the global macro situation, and how he is seeing growing signs of recession breaking out across the economy: I think that was one of the biggest mistakes […]
Please Assume Crash Positions
Please Assume Crash Positions That few believe Mr. Market can possibly stumble only increases the odds of a stumble. You know how to get into crash positions, correct? Here’s your guide: Very few punters expect a real downturn here in stocks. The reasons for confidence are many: the Fed has our back, buy the dip has worked […]
Fed Vice Chair Fischer Admits Fed is Waiting for Godot
Fed Vice Chair Fischer Admits Fed is Waiting for Godot The Fed’s fourth mandate. In his keynote speech on the usual suspects of central-bank topics at the Institute of International Finance’s big shindig in Washington DC today, Fed Vice Chair Stanley Fischer nevertheless managed to develop a new theory for a fourth Fed mandate. This […]
Sizing Up the Bubble
Sizing Up the Bubble “In the ruin of all collapsed booms is to be found the work of men who bought property at prices they knew perfectly well were fictitious, but who were willing to pay such prices simply because they knew that some still greater fool could be depended on to take the property […]
John Mauldin: The Fed Is Leading Us to Economic Hell
John Mauldin: The Fed Is Leading Us to Economic Hell The Fed argues that low rates have worked. The economy emerged from recession. Unemployment drifted back down. “Yay for us,” said the Fed. Don’t buy that statistical economic garbage. The economy recovered in spite of Fed policy, not because of it. The economy recovered because business owners, entrepreneurs, […]
Did the Fed Really Say they Could Buy Stocks?
Did the Fed Really Say they Could Buy Stocks? The Fed told Congress it would buy stocks if Congress allowed it. This statement has caused a lot of people to scratch their heads. Will this cause all the stock bears to rethink their prognostications of a major stock market crash? This was not even on […]
Stanley Fischer’s Novel Idea: “We’d Be Better Off With A Price For Using Money”
Stanley Fischer’s Novel Idea: “We’d Be Better Off With A Price For Using Money” The end game of central bank lunacy is surely near. Even the Fed heads appear to be mumbling bits and pieces of truth in public. Former Philly Fed President Charles Plosser, for example, told Bloomberg TV this morning that central bankers “wring their hands all the […]
Should the Fed Raise Interest Rates?
Should the Fed Raise Interest Rates? For some time now the Fed has been hinting that it will moderate its interventions–monetizing government debt by printing money to buy government bonds and now quantitative easing by printing money to buy corporate bonds–in order to drive down the interest rate to unprecedented low levels. The Keynesian theory […]
Savings Guarantee? U.N. Warns Next Financial Crisis Imminent
Savings Guarantee? U.N. Warns Next Financial Crisis Imminent “There remains a risk of deflationary spirals in which capital flight, currency devaluations and collapsing asset prices would stymie growth and shrink government revenues. As capital begins to flow out, there is now a real danger of entering a third phase of the financial crisis …” UN […]
Hell To Pay
SkillUp/Shutterstock Hell To Pay The final condition for a market crash is falling into place Sometimes I wonder if I’m ever going to run out of new things to say about the economy. Nothing interesting has happened in a long time. Our liquidity-drunk “markets” remain over-priced due to the chronic intervention of the global central […]
Traveling Circus
Traveling Circus After Wednesday’s policy statements by the Fed and Bank of Japan, a harsh light is being shined on the incredible nature of their communications. It would be wise in the current environment to structure investment portfolios with a pro-volatility bias. Central banks in G7 economies have been carrying a heavy load for a […]
Our uncomfortable ride with central bankers who can’t take us home again: Neil Macdonald
Our uncomfortable ride with central bankers who can’t take us home again: Neil Macdonald The great post-Great Recession money-printing bonanza was supposed to be temporary Chair Janet Yellen decided this week to keep the U.S. Federal Reserve’s interest rate where it is, saying the U.S. economy isn’t yet ready to withstand a modest increase. (Gary […]
