Now Comes The Real Crazy
April 18, 2020
1 Comment
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
NIRP
Really Bad Ideas, Part 8: Yield Curve Control And Mega-Stimulus
December 11, 2019
8 Comments
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.
Civil Unrest Is The New Normal Out There
November 17, 2019
8 Comments
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
Financial Markets To Federal Reserve: Is That All You’ve Got??
October 31, 2019
6 Comments
So the Fed, as expected, cuts interest rates again. And – also again – Fed Chair Powell implies that he’s done cutting for a while.
The Fed’s “Insurance” Rate Cuts Didn’t Work. Now For The Emergency Cuts
October 2, 2019
9 Comments
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
Strange Bedfellows Indeed: Trump And AOC Converge On Monetary Policy
July 11, 2019
15 Comments
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
Will A False Flag Iran War Cause A Financial Crisis?
June 17, 2019
45 Comments
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
Something Huge Just Happened In Europe
June 9, 2019
4 Comments
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 Fed Dusts Off “Whatever It Takes”
June 4, 2019
9 Comments
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
Negative Interest Rates Spread To Mortgage Bonds
May 24, 2019
7 Comments
There are trillions of dollars of bonds in the world with negative yields – a fact with which future historians will find baffling. Until now
The Terrifying Truth About Negative Interest Rates
May 22, 2019
4 Comments
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
Remember, The Fed Hasn’t Actually Done Anything Yet
February 28, 2019
11 Comments
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
Empty Words Are Failing. A Timeline For What Comes Next
December 4, 2018
24 Comments
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
Home Sales Plunge, Trade Deficit Spikes, Fed Blinks
November 28, 2018
19 Comments
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
Bad Bankers Drive Out Good Bankers: Wells Fargo, Wall Street, And Gresham’s Law
April 20, 2018
7 Comments
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