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Weekly Commentary: Peak Monetary Stimulus
Weekly Commentary: Peak Monetary Stimulus Not again. Bloomberg is referring to “the bond market riddle.” The Financial Times went with the headline, “US Government Bond Investors Left Bewildered by ‘Bonkers’ Market Move.” It’s been three weeks of declining Treasury yields in the face of robust economic data (and surging commodities prices!). Too soon to be […]
A dangerous misunderstanding
A dangerous misunderstanding How much money should there be in the world? It is an interesting question; to which, at any time, there is a correct answer that is unknown to anyone. It is the amount at which money is able to perfectly perform its two key functions – being a medium of exchange and a store of value. […]
There’s a Serious Flaw to the Team Powell-Yellen Inflation Scheme
There’s a Serious Flaw to the Team Powell-Yellen Inflation Scheme If you’re a wage earner, retiree, or a lowly saver, your wealth is in imminent danger. A lifetime of schlepping and saving could be rapidly vaporized over the next several years. In fact, the forces towards this end have already been set in motion. Indeed, […]
Who Bought the $4.5 Trillion Added in One Year to the Incredibly Spiking US National Debt, Now at $27.9 Trillion?
Who Bought the $4.5 Trillion Added in One Year to the Incredibly Spiking US National Debt, Now at $27.9 Trillion? Someone had to buy every dollar of this monstrous debt. Here’s Who. The Fed isn’t the only one. But China continues to unwind its holdings. Driven by stimulus and bailouts, and fired up by the […]
Rabobank: The Everything Bubble Has Become More Everything And More Bubble
Rabobank: The Everything Bubble Has Become More Everything And More Bubble Oh-No-Bi-Wan Kenobi For those who haven’t seen it –and I accept there are now probably many readers who haven’t– there is a classic scene in the first Star Wars film (Episode IV) in which Jedi Master Obi-Wan Kenobi tells his villainous duelling opponent, his […]
Update on the Fed’s QE
Update on the Fed’s QE No Wonder the Cry Babies on Wall Street are clamoring for more. Five SPVs, already on ice, will expire on December 31. The Fed released details today of its corporate-bond purchases in November ($215 minuscule millions) and corporate-bond ETF purchases in November (zilch). Last time it bought any ETFs had […]
If You Thought 2020 Was Bad, Watch What Happens In 2021
If You Thought 2020 Was Bad, Watch What Happens In 2021 In terms of the economy and the American social situation, 2020 is definitely one of the ugliest years on record, there’s really no way around it. That said, I get the impression that many in the public are operating under the assumption that we […]
“A Staggering Number”: Over $18 Trillion In Global Stimulus In 2020, 21% Of World GDP
“A Staggering Number”: Over $18 Trillion In Global Stimulus In 2020, 21% Of World GDP On Friday, we relayed the latest observations from BofA chief investment officer, Michael Hartnett who concluded that there is just one bull market to short – namely credit – “and the Fed won’t let you” by which he means all central banks. […]
Making Sense Of An Increasingly Insensible World
Making Sense Of An Increasingly Insensible World Creating purpose and fulfillment within a failing system What the heck is going on? I hear this a lot these days. Developments are happening too quickly to process for many folks, creating a persisting cloud of confusion. Even focusing down on any particular single event often gets nowhere […]
No Stimulus for the Weary: The US is Now Sitting on an Inflation Time Bomb
No Stimulus for the Weary: The US is Now Sitting on an Inflation Time Bomb The White House budget office doesn’t know if the $2.2 Trillion-dollar stimulus package and Trump’s $1,200 stimulus checks might cause an inflationary spiral. But many economists have no doubt it will. The consequences of the $2.2 trillion stimulus package are […]
When Economic Depression Follows Pandemic, No Time to Waste
When Economic Depression Follows Pandemic, No Time to Waste What the Bank of Canada and IMF see coming will demand bold stimulus. It is still sinking in that the end of the pandemic will not be the end of our troubles. On the contrary — we will likely see the end of the pandemic overlap […]
The Liquidity Crisis Is Quickly Becoming A Global Solvency Crisis As FRA/OIS, Euribor Soar
The Liquidity Crisis Is Quickly Becoming A Global Solvency Crisis As FRA/OIS, Euribor Soar One month after turmoil was unleashed on capital markets, when the combination of the Saudi oil price war and the sweeping impact of the coronavirus pandemic finally hit developed nations, what was until now mostly a liquidity crisis is starting to […]
Weekly Commentary: The Perils of Stop and Go
Weekly Commentary: The Perils of Stop and Go Please join Doug Noland and David McAlvany this coming Thursday, April 18th, at 4:00PM EST/ 2:00pm MST for the Tactical Short Q1 recap conference call, “What are Central Banks Afraid of?” Click here to register. China’s Aggregate Financing (approximately system Credit growth less government borrowings) jumped 2.860 billion […]
The Fed Relies Indirectly on the Banks & Cannot Stimulate the Economy Directly
The Fed Relies Indirectly on the Banks & Cannot Stimulate the Economy Directly QUESTION: Hello, Since the Fed ‘created’ ‘money’ after 2008 that was then deposited back at the Fed by the recipient banks ( say,75% of it), it is not easy to see why the Fed is to blame for the credit explosion since 2008- […]
