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Congress Sets Up Taxpayers to Eat $454 Billion of Wall Street’s Losses, Where is the Outrage?
Congress Sets Up Taxpayers to Eat $454 Billion of Wall Street’s Losses, Where is the Outrage? Photograph by Nathaniel St. Clair Beginning on March 24 of this year, Larry Kudlow, the White House Economic Advisor, began to roll out the most deviously designed bailout of Wall Street in the history of America. After the Federal […]
Straight Talk
Straight Talk We live through very unique times, not only because of the shock of the coronavirus that recently hit the world unexpectedly, but also because of large complex structural issues that have been building for decades. A popular mantra says the stock market is not the economy and the economy is not the stock […]
Fourth Turning Economics
Fourth Turning Economics “In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses […]
Worst Case Scenario = 73% Down From Here
WORST CASE SCENARIO = 73% DOWN FROM HERE As the stock market gyrates higher and lower in a fairly narrow range, the spokesmodels and talking heads on CNBC breathlessly regurgitate the standard bullish mantra designed to keep the muppets in the market. They are employees of a massive corporation whose bottom line and stock price […]
Demand For Big Bills Soars As NIRP-Fearing Japanese Stuff Safes With 10,000-Yen Notes
Demand For Big Bills Soars As NIRP-Fearing Japanese Stuff Safes With 10,000-Yen Notes Earlier this week, we were amused but not at all surprised to learn that Japanese citizens are buying safes like they’re going out of style. The reason: negative rates and the incipient fear of a cash ban. “Look no further than Japan’s […]
Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment”
Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment” With global central bank policy in disarray following the Fed’s now admitted “policy error” of tightening just as the US and global economy are heading for recession, while the rest of the world desperate to cut to ever more negative […]
637 Rate Cuts And $12.3 Trillion In Global QE Later, World Shocked To Find “Quantitative Failure”
637 Rate Cuts And $12.3 Trillion In Global QE Later, World Shocked To Find “Quantitative Failure” 2016 is shaping up to be the year that everyone finally comes to terms with the fact that the monetary emperors truly have no clothes. To be sure, it’s been a long time coming. For nearly 8 years, market […]
Negative Interest Rates Show Desperation of Central Banks
Negative Interest Rates Show Desperation of Central Banks Image: MarketWatch Japan has joined the EU, Denmark, Switzerland and Sweden in imposing negative interest rates. Indeed, more than a fifth of the world’s GDP is now covered by a central bank with negative interest rates. The Wall Street Journal notes: TOKYO—Japan’s central bank stunned the markets Friday by setting the […]
Why the Black Hole of Deflation Is Swallowing the Entire World … Even After Central Banks Have Pumped Trillions Into the Economy
Why the Black Hole of Deflation Is Swallowing the Entire World … Even After Central Banks Have Pumped Trillions Into the Economy Deflation Threatens to Swallow the World Many high-powered people and institutions say that deflation is threatening much of the world’s economy … China may export deflation to the rest of the world. Japan is mired in […]
Albert Edwards Hits Peak Pessimism: “S&P Will Fall 75%”, Global Recession Looms
Albert Edwards Hits Peak Pessimism: “S&P Will Fall 75%”, Global Recession Looms 2016 has thus far been a year characterized by remarkable bouts of harrowing volatility as the ongoing devaluation of the yuan, plunging crude prices, and geopolitical uncertainty wreak havoc on fragile, inflated markets. With asset prices still sitting near nosebleed levels after seven […]
Fourth Turning–Social & Cultural Distress Dividing the Nation
FOURTH TURNING – SOCIAL & CULTURAL DISTRESS DIVIDING THE NATION I wrote the first three parts of this article back in September and planned to finish it in early October, but life intervened and truthfully I don’t think I was ready to confront how bad things will likely get as this Fourth Turning moves into […]
“We Should Have Known Something Was Wrong”
“We Should Have Known Something Was Wrong” Remember when stuff such as the following was written exclusively on “conspiracy” tin-foil blogs by deranged lunatics who could not appreciate the brilliance of the neo-Keynesian system and central-planning by academics, in all its glory? Good times. Here is Bank of America’s Athanasios Vamvakidis channeling Tyler Durden circa […]
The Oligarch Recovery – Low Income Americans Can’t Afford to Live in Any Metro Area
The Oligarch Recovery – Low Income Americans Can’t Afford to Live in Any Metro Area We were told we needed to bail out Wall Street in order to save Main Street. Well the results are in… Wall Street has never done better, and Main Street has never done worse. From the Huffington Post: Low-income workers and their […]
In Latest Market Rigging Scandal, Wall Street Now Sued For Treasury Market Manipulation
In Latest Market Rigging Scandal, Wall Street Now Sued For Treasury Market Manipulation “Defendants used electronic chatrooms, instant messaging, and other electronic and telephonic methods to exchange confidential customer information, coordinate trading strategies.” “Traders at some of these primary dealers talked with counterparts at other banks via online chatrooms and swapped gossip.” Sound familiar? Those […]
Greek Banks On Verge Of Total Collapse: Bank Run Surges “Massively” As Depositors Yank €700 Million Today Alone
Greek Banks On Verge Of Total Collapse: Bank Run Surges “Massively” As Depositors Yank €700 Million Today Alone While the Greek government believes it may have won the battle, if not the war with Europe, the reality is that every additional day in which Athens does not have a funding backstop, be it the ECB […]
