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The Confidence Game Is Ending
The Confidence Game Is Ending Immediately after the Fed hiked interest rates last Wednesday – after sitting at 0% for 7 years – markets acted pretty much as one might expect. The Fed tightens monetary policy when the economy is strong so rising stock prices, rising interest rates and a strong dollar are all things […]
The Fed’s Risk to Emerging Economies
The Fed’s Risk to Emerging Economies MILAN – The US Federal Reserve has finally, after almost a decade of steadfast adherence to very low interest rates, hiked its federal funds rate – the rate from which all other interest rates in the economy take their cue – by 25 basis points. That brings the new rate up […]
Dan Amerman: Financial Repression & The New Interest Rate Hike
Dan Amerman: Financial Repression & The New Interest Rate Hike You have to understand one to make sense of the other Financial repression authority Daniel Amerman returns this week to discuss the ramifications of the Federal Reserve’s first interest rate hike in nearly a decade: The key to understand the situation here is that this is […]
Christmas Present
Christmas Present Theory du jour: the new Star Wars movie is sucking in whatever meager disposable lucre remains among the economically-flayed mid-to-lower orders of America. In fact, I propose a new index showing an inverse relationship between Star Wars box office receipts and soundness of the financial commonweal. In other words, Star Wars is all that remains of the US economy […]
$20,000 Gold And The End Of “Pollyanna-ish Do-Goodery”
$20,000 Gold And The End Of “Pollyanna-ish Do-Goodery” “They just won’t let the scales balance… it is a rampant narcissistic megalomania that somehow some guy in a air-conditioned office can best repliacte the free market and centrally plan our affairs… Their starry-eyed pollyanna-ish do-goodery never seems to pan out.“ In the flux of never before seen economic […]
Who Owns the Federal Reserve Bank and Why is It Shrouded in Myths and Mysteries?
Who Owns the Federal Reserve Bank and Why is It Shrouded in Myths and Mysteries? “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford “Give me control of a Nation’s […]
The FOMC Decision, US Money Supply and the Economy
The FOMC Decision, US Money Supply and the Economy Giving the Kremlinologists Something to Do As is well known by now, on Wednesday the US central monetary planning bureau finally went through with its threat to hike the target range for overnight bank lending rates from nothing to almost nothing. Photo credit: Luca Brenta The very […]
Peter Schiff: “Mission Accomplished”
Peter Schiff: “Mission Accomplished” Mission Accomplished On May 1, 2003 on the flight deck of the USS Abraham Lincoln then President George W. Bush, after becoming the first U.S. president to land on an aircraft carrier in a fixed wing aircraft (in a dashing olive drab flight suit), declared underneath an enormous “Mission Accomplished” banner that “major […]
Canadian dollar tumbles to close below 72 cents US
Canadian dollar tumbles to close below 72 cents US Oil slips below $35 US amid continuing strength of U.S. dollar Some analysts say the loonie could eventually fall to 70 cents US as the currency is pressured by low commodity prices, and the diverging interest rate policies of Canada and the United States. (Mark Blinch/Reuters) […]
Our “Star Wars” Economy: The Fed-Farce Awakens
Our “Star Wars” Economy: The Fed-Farce Awakens The Fed’s hubris has led it to the Dark Side. It’s not just a movie, it’s real life: the Fed-Farce awakens. Now that the Federal Reserve has finally voted to “restore order to the galaxy” with a tiny .25% rate increase, the true measure of our travesty of a mockery […]
Sell The Bonds, Sell The Stocks, Sell The House —–Dread The Fed!
Sell The Bonds, Sell The Stocks, Sell The House —–Dread The Fed! There is going to be carnage in the casino, and the proof lies in the transcript of Janet Yellen’s press conference. She did not say one word about the real world; it was all about the hypothecated world embedded in the Fed’s tinker toy […]
Doomsayers are wrong (so far) as U.S. Fed raises rates: Don Pittis
Doomsayers are wrong (so far) as U.S. Fed raises rates: Don Pittis Breaking the ice on frozen rates has calmed markets, not roiled them U.S. Federal Reserve chair Janet Yellen oozed confidence as she announced a hike in interest rates yesterday. Markets responded in kind. (Reuters) “Remember, we have very low rates and we’ve made […]
On US Interest Rates
On US Interest Rates The first US interest rate increase since June 2006 is a pivotal moment for the global economy, launching what Mohamed El-Erian, Chief Economic Adviser at Allianz, calls the “great policy divergence,” with repercussions in every region and financial market. The impact will be particularly powerful in emerging countries, where currencies are vulnerable to […]
Money Velocity Is Crashing–Here’s Why
Money Velocity Is Crashing–Here’s Why The inescapable conclusion is that Fed policies have effectively crashed the velocity of money. That the velocity of money has been crashing while the money supply has been exploding doesn’t seem to bother the mainstream pundits. There is always a fancy-footwork explanation of why whatever is crashing no longer matters. Take […]
