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Everyone Loves a Generous Government Until They Have to Pay For It
Everyone Loves a Generous Government Until They Have to Pay For It Not only does everyone love getting “free money” from the state, they also love hearing the fantasy repeated endlessly that debts are no problem. Governments, like individuals, can spend liberally with great generosity, or they can be frugal. Everyone receiving government money loves the […]
What’s Behind the Fed’s Project to Send Free Money to People Directly?
What’s Behind the Fed’s Project to Send Free Money to People Directly? A lump-sum payment in digital dollars for all Americans during a recession or to raise inflation, as an alternative to QE and negative interest rates, which have failed. By Wolf Richter. This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. You […]
The Wonders of Free Money in Two Pictures
The Wonders of Free Money in Two Pictures Lesson of the Day If you give away enough free money, spending recovers. Census Report on Advance Retail Sales The Census report on Advance Retail Sales provides half of our “Lesson of the Day“. Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, July sales […]
It’s Only Paper
IT’S ONLY PAPER The response to the virus has added a new mechanism of capital consumption to the many we have documented over the years. Businesses are shut down, yet they continue to incur expenses. There is a popular misconception out there that this is merely a paper loss. One can almost picture a neutron bomb that somehow […]
Free Money Calculation: Fed Will Give $36.93 Billion of Taxpayer Money to Banks
Free Money Calculation: Fed Will Give $36.93 Billion of Taxpayer Money to Banks The Fed upped the interest it pays on excess reserves to 1.95% today. This is free money (taxpayer funded) to banks. The Fed bumped up the interest it pays on excess reserves today to 1.95%. Currently, excess reserves sit at $1.894 trillion. […]
It’s Raining Money
It’s Raining Money With apologies to the Dire Straights: Now look at them yo-yo’s that’s the way you do it You play the bull on the fin TV That ain’t workin’ that’s the way you do it Money for nothin’ and stocks for free After 9 years of artificial liquidity drenching markets the same game […]
“Helicopter Money” Won’t Fix What’s Broken
“Helicopter Money” Won’t Fix What’s Broken Creating “free money” to support bloated bureaucracies and corrupt cartels only makes the underlying problems worse. The mere mention of helicopter money has intoxicated global stock markets, which have soared on the rumor of Japanese helicopter money. But as I explained in Why Helicopter Money Won’t Push Stocks Higher, central banks funding fiscal spending […]
Free Money Leaves Everyone Poorer
Free Money Leaves Everyone Poorer Destroying Lives BALTIMORE – A dear reader reminded us of the comment, supposedly made by Groucho Marx: “A free lunch? You can’t afford a free lunch.” Groucho dispensing valuable advice Photo via imdb.com He was responding to last week’s Diary about the national referendum in Switzerland on Saturday. Voters will decide whether to […]
Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash “Gift-Certificate” Money Drop To Young People
Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash “Gift-Certificate” Money Drop To Young People The Swiss, the Finns, and the Ontarians may get their ‘Universal Basic Income’ but the Japanese are about to turn the Spinal Tap amplifier of extreme monetary experimentation to 11. Sankei reports, with no sourcing, that the Japanese government plans to unleash “vouchers” or “gift […]
“Fed Policy Is Toxic,” Michael Burry Warns “The Little Guy Will Pay” For The Next Crisis
“Fed Policy Is Toxic,” Michael Burry Warns “The Little Guy Will Pay” For The Next Crisis We are sure, just as many of the so-called “smartest men in the room” ignored him last time, so every status-quo-maintaining, asset-gathering, commission-taker will be quick to dissonantly shrug off Michael Burry’s (the economic soothsayer from Michael Lewis’ book […]
“Bernanke & Greenspan Have Destroyed America” Schiff & Maloney Warn “People Don’t Realize What Is Coming”
“Bernanke & Greenspan Have Destroyed America” Schiff & Maloney Warn “People Don’t Realize What Is Coming” Ali and Frazier, Laurel and Hardy, Mayweather and Pacquiao, Liesman and Santelli, and now Schiff and Maloney. Peter and Mike join clash of the titan-like to discuss their investment strategies and expose the charts the government doesn’t want you to seeas […]
