Now Comes The Real Crazy
A recurring theme of modern financial crises is the “temporary” nature of the extreme steps governments take to fix the system. Recall that the massive
A recurring theme of modern financial crises is the “temporary” nature of the extreme steps governments take to fix the system. Recall that the massive
It’s been obvious for a while that the next phase of global monetary madness would be both spectacular and very different from the previous phase.
This is getting ridiculous. Every few days another country blows up, as their citizens take to the streets with little warning and no apparent interest
So the Fed, as expected, cuts interest rates again. And – also again – Fed Chair Powell implies that he’s done cutting for a while.
Pity the guys now running the Fed. They’ve inherited an economy that requires ever-bigger infusions of new credit and ever-lower interest rates to avoid financial
President Trump and Congresswoman Alexandria Ocasio-Cortez don’t agree on much – and would be loath to admit it if they did. But their ideas on
Just a couple of weeks ago the financial world’s biggest worry was the plunging price of oil. Supply was up, stockpiles were building and speculation
Critics of modern monetary policy have been predicting that the day would come when a central bank would cut interest rates (or at least promise
The most consequential words ever spoken by a central banker are, without doubt, ECB chair Mario Draghi’s 2012 promise to “do whatever it takes” to
There are trillions of dollars of bonds in the world with negative yields – a fact with which future historians will find baffling. Until now
Pushing interest rates below zero is both an act of desperation and something that in theory should have a huge, immediate impact of the behavior
When the financial markets got, um, choppy towards the end of 2018, the Fed caved almost instantly. But only rhetorically. Fed chair Powell promised to
A quick recap of the past couple of months: Stocks plunge. The politicians, bureaucrats and bankers who depend on artificially-elevated financial asset prices start to
Looks like we just hit an inflection point. So far this morning: U.S. new home sales drop to more than 2-1/2-year low (Reuters) – Sales
Back in the 1500s, a financial agent of Queen Elizabeth I named Thomas Gresham observed that that “bad money drives out good.” That is, if
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