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China Furious After US Launches Trade War “Nuke” With 522% Duty
China Furious After US Launches Trade War “Nuke” With 522% Duty Now that China’s brief infatuation with “rationalizing” excess capacity in its massively glutted (and insolvent) steel sector is over after lasting all of 2-3 months, China is back to doing what it did in late 2015 (and what it has always done) when as […]
Jim Grant Asks When The World Will Realize “That Central Bankers Have Lost Their Marbles”
Jim Grant Asks When The World Will Realize “That Central Bankers Have Lost Their Marbles” April 15 comes and goes but the federal debt stays and grows. The secrets of its life force are the topics at hand— that and some guesswork about how the upsurge in financial leverage, private and public alike, may bear on […]
“This Is Going To Be A National Crisis” – One Of The Largest U.S. Pension Funds Set To Cut Retiree Benefits
“This Is Going To Be A National Crisis” – One Of The Largest U.S. Pension Funds Set To Cut Retiree Benefits A dark storm is brewing in the world of private pensions, and all hell could break loose when it finally hits. As the Washington Post reports, the Central States Pension Fund, which handles retirement benefits […]
Former Fed Advisor Asks “Has The Fed Bankrupted The Nation”
Former Fed Advisor Asks “Has The Fed Bankrupted The Nation” Volcker, Greenspan, Bernanke and Yellen. Which one does not belong? Logic dictates that Volcker should have been odd man out. After all, there is no legendary “Volcker Put.” The towering monetarist made no bones about never being bound by the financial markets. The same can certainly not […]
“The Game Is Rigged”: From Luxurious Lake Como Villa, Finance Professor Admits “QE Adds To Inequality”
“The Game Is Rigged”: From Luxurious Lake Como Villa, Finance Professor Admits “QE Adds To Inequality” While attending the ultra-exclusive Ambrosetti Workshop, University of Chicago finance professor Luigi Zingales took a few minutes to discuss income inequality in an interview with Bloomberg. We were delighted that the irony of being at a luxurious villa on the shores of […]
WTI Crude Slides Back Into Red For 2016 As The Fed And Oil Remain On Unsustainable Paths
WTI Crude Slides Back Into Red For 2016 As The Fed And Oil Remain On Unsustainable Paths Oil prices have increased 50 percent since the lows exhibited earlier this year, a rise that is largely linked to the positive market reaction to the OPEC output freeze. But WTI Crude has given up all its early […]
Norway’s Interest Rate Conundrum
Norway’s Interest Rate Conundrum Current Situation The ECB recently stimulated more than expected, cutting rates by five basis points and expanding quantitative easing. It is already expected that Norges Bank (The Norwegian Central Bank) will cut rates next week, seeing accelerating inflation as temporary. They have a 2.5% inflation target mandate “over time,” giving them lee-way. They see demand […]
Deutsche Bank Discovers Kuroda’s NIRP Paradox
Deutsche Bank Discovers Kuroda’s NIRP Paradox Last October, BofA looked at Europe’s €2.6 trillion in negative-yielding debt and discovered something “stunning”: Savings rates were going up not down. Don’t believe us, just have a look at these three charts: But how could that be? By all accounts – or, should we say, by all conventional Keynesian/ textbook accounts – […]
HSBC Looks At “Life Below Zero,” Says “Helicopter Money” May Be The Only Savior
HSBC Looks At “Life Below Zero,” Says “Helicopter Money” May Be The Only Savior In many ways, 2016 has been the year that the world woke up to how far down Krugman’s rabbit hole (trademark) DM central bankers have plunged in a largely futile effort to resuscitate global growth. For whatever reason, Haruhiko Kuroda’s move […]
Greece Slides Back Into Recession Amid Riots, Rewewed “Grexit” Calls
Greece Slides Back Into Recession Amid Riots, Rewewed “Grexit” Calls It was just over a year ago that Greece elected Alexis Tsipras and Syriza amid a flurry of anti-austerity sentiment. Things didn’t exactly go as planned. The new PM and his “radical” finance minister Yanis Varoufakis thought they could shake things up in Brussels […]
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas Greece was fixed for a few months, when the so-called “anti-austerity” government of PM Tsipras which came to power just over a year ago did what each on its predecessors did by kicking the can and trading off what little sovereignty Greece […]
Russell Napier Explains How The Decline Of The Yuan Destroys Belief In Central Banking
Russell Napier Explains How The Decline Of The Yuan Destroys Belief In Central Banking It’s Not a Pet, It’s a Falcon: How the decline of the RMB destroys belief in central banking and a successful reflation Turning and turning in the widening gyre The falcon cannot hear the falconer; Things fall apart; the centre cannot […]
Bob Janjuah Warns The Bubble Implosion Can’t Be “Fixed” This Time
Bob Janjuah Warns The Bubble Implosion Can’t Be “Fixed” This Time Having correctly foreseen in September that “China’s devaluations are not over yet” it appears Nomura’s infamous ‘bear’ Bob Janjuah has also nailed The Fed’s subsequent actions (hiking rates into a fundamentally weakening economy in a desperate bid to “convince markets that strong growth and inflation are on their […]
