On being an FOMC member
byIt’s easy to criticise the Fed for its failures, because its successes have been only one in number: kicking the can down the road….
Economics
Investment sanity, shot through the heart
by“Protip: When someone uses the term ‘hoarding’ instead of ‘saving’, it means deep down they believe that others are more entitled to your money…
Drowning in debt
byCentral Banks are moving from quantitative to qualitative easing The spread between Investment Grade and Government bond yields is narrowing Issuing corporate debt rather…
China: something must burst
by“I know from a common sense financial standpoint that something has to burst. When a country is losing billions and billions and billions of…
Can surveys tell us where the economy is heading?
byTo gain an insight into future economic conditions, many economists follow a variety of consumer and business surveys. The rationale for conducting surveys…
Mission Creep – How the Fed will justify maintaining its excessive balance sheet
byFOMC have changed their normalizing strategy several times and we now see the contours of yet another shift. The Federal Reserve was supposed to…
The mass escape from reality
by“..Built into the speculative episode is the euphoria, the mass escape from reality, that excludes any serious contemplation of the true nature of what…
How Long Will It Take for the ECB to Own All Sovereign Debt of Spain, Germany, France?
byBy Mike “Mish” Shedlock Source: https://mishtalk.com/2016/08/25/how-long-will-it-take-for-the-ecb-to-own-all-sovereign-debt-of-spain-germany-france/ Huky Guru on Guru’s Blog posted a chart that answers the question: How Long Will it Take For the…
Why Say’s law is always true
byOne of my regular readers has raised the important subject of Say’s law, the denial of which both Keynesian and modern monetarists are emphatic….
QE is Simply Reactionary
byThe Bank of England has recently announced a new round of quantitative easing alongside an interest rates cut, pushing £100 billion into banks, with…