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Forget the Black Swans; the Vultures already Circling us Are Bad Enough to Kill us
Forget the Black Swans; the Vultures already Circling us Are Bad Enough to Kill us There is certainly more coming to eat away at your finances as infamous bankster Jamie Dimon laid out quite broadly and plainly this week. Photo by Abhishek Singh on Unsplash Jamie Dimon never saw a dying bank he didn’t want to eat. Yet, […]
The Fed Is Winging It: A 75 Basis-Point Hike “Seemed Like the Right Thing”
The Fed Is Winging It: A 75 Basis-Point Hike “Seemed Like the Right Thing” The Federal Reserve’s Federal Open Market Committee (FOMC) today announced an increase of 75 basis points to the target federal funds rate, raising the rate to 1.75% from 1%. June’s meeting today was the third meeting this year at which the FOMC has […]
ECB Holds Emergency Meeting To Discuss Market Turmoil
ECB Holds Emergency Meeting To Discuss Market Turmoil Last week, shortly after the ECB’s latest meeting disappointed markets and concluded without a discussion of Europe’s growing bond market fragmentation (which is to be expected since QE – the glue that held the Euro area’s bond market together – is ending) and which has since sent […]
The Mayhem Below the Surface of the Stock Market Seeps to the Surface: Now it’s the Giants that Topple
The Mayhem Below the Surface of the Stock Market Seeps to the Surface: Now it’s the Giants that Topple The market finally gets it: The Fed is going to tighten to get a handle on its massive inflation problem. Since February last year, the hottest most hyped stocks, many of them recent IPOs and SPACS, […]
Peter Schiff: The Fed Made This Bed and Now We Have to Lie In It
Peter Schiff: The Fed Made This Bed and Now We Have to Lie In It Inflation is running hot. Economic data is running cold. Stocks and bonds are under pressure. The Fed is scrambling. In his podcast, Peter Schiff talked about the trajectory of the economy. He said we’re on the cusp of the most […]
Peter Schiff: The Fed Can’t Do What It’s Saying It Will Do
Peter Schiff: The Fed Can’t Do What It’s Saying It Will Do The Fed FOMC minutes came out last week, signaling tighter monetary policy. Peter Schiff talked about the minutes in his podcast, arguing that the Fed can’t do what it says it’s going to do. If it does, it will crash the markets and the economy. […]
“Minsky Moments Almost Certainly Await”: Nomura Fears ‘Collateral’ Damage From The QE-to-QT Transition
“Minsky Moments Almost Certainly Await”: Nomura Fears ‘Collateral’ Damage From The QE-to-QT Transition “Minsky Moments” almost certainly await, warns Nomura’s Charlie McElligott in his latest note as he reflects on a massive week ahead for markets. With Powell testimony and bunches of Fed speakers, along with US economic releases headlined by the market’s most important datapoint in the […]
Peter Schiff: Less Loose Fed Monetary Policy Isn’t Tight Fed Monetary Policy
Peter Schiff: Less Loose Fed Monetary Policy Isn’t Tight Fed Monetary Policy There’s been a lot of talk about the Federal Reserve tapering its asset purchases. Peter Schiff talked about it during his podcast, saying even if the Fed does getting around to tapering, that doesn’t equate to a legitimately tight monetary policy. Furthermore, any […]
Fourth Turning Accelerating Towards Climax
FOURTH TURNING ACCELERATING TOWARDS CLIMAX “At some point, America’s short-term Crisis psychology will catch up to the long-term post-Unraveling fundamentals. This might result in a Great Devaluation, a severe drop in the market price of most financial and real assets. This devaluation could be a short but horrific panic, a free-falling price in a market […]
These Are The Banks Where The Fed’s $1.4 Trillion In Reserves Are Parked
These Are The Banks Where The Fed’s $1.4 Trillion In Reserves Are Parked Over the past few days there has been much confusion over the repocalpyse that shook the overnight funding market, and just as much confusion over the definition of reserves which some banks were unwilling to part with, other banks were desperate for, and in […]
For The First Time In 6 Years, No Central Bank Is Hiking
For The First Time In 6 Years, No Central Bank Is Hiking The global central bank experiment with renormalization is officially over. After roughly half the world’s central banks hiked rates at least once in 2018, the major central banks have returned to easing mode, and as the chart below shows, for the first time […]
The Federal Reserve’s Controlled Demolition Of The Economy Is Almost Complete The Federal Reserve is an often misunderstood entity, not only in the mainstream, but also in alternative economic circles. There is this ever pervasive fantasy on both sides of the divide that the central bank actually “cares” about forever protecting the US economy, or […]
We Are Entering The “Quantitative Failure” Narrative
We Are Entering The “Quantitative Failure” Narrative For a decade, the world brushed off any concerns about soaring global debt under the rug for a simple reason: between the Fed, the ECB and the BOJ, there was always a buyer of last resort, providing an implicit or, increasingly explicit backstop to bond prices, in the […]
Monday Musings on Monetization and Markets (or Fundamentals Don’t Matter, Liquidity Does)
Monday Musings on Monetization and Markets (or Fundamentals Don’t Matter, Liquidity Does) Being I’m not an economist nor associated with any financial or investment institutions nor do I have anything for you (dear reader) to buy or sell, I have total freedom to say what I please and freedom to share what I see. In that spirit, I […]
Fed’s Balance Sheet Reduction Reaches $402 Billion
Fed’s Balance Sheet Reduction Reaches $402 Billion The QE unwind has started to rattle some nerves. For the past two months, the sound of wailing and gnashing of teeth about the Fed’s QE unwind has been deafening. The Fed started the QE unwind in October 2017. As I covered it on a monthly basis, my […]
