QE. Quantitative Easing. The most misunderstood, misinterpreted, misconstrued, mis-overestimated economic policy of the current monetary era. No need for qualifiers or weasel words like “perhaps” or “maybe”. In an age of unprecedented policies – largely ineffective, I might add – in an ocean of official misdirection, quantitative easing stands out as the grandest deception of them all. With the onset [...]
The Global Financial Crisis of 2008 was felt far and wide, in places with no connection at all to the US mortgage market. That is, or should be, a clue that the crisis wasn’t really about sub-prime mortgages at all. There were places, though, that avoided much of the turmoil. One of the oddest and unexpected might be Argentina, a [...]
Jeffrey Snider's Follow The Money Series: Money Market Turmoil On Monday, September 16, funding markets came under significant pressure. In repo, the GC rate (UST) jumped to 2.876% from 2.288% the Friday before. Repo rates and other money rates like federal funds had been elevated already but this 60-basis point move was highly unusual. Our Special Report on the Money [...]
The Yield Curve Inverted! Recession is Coming! Do you need to worry about the yield curve inversion? Not if you have a strategy appropriate to your circumstances. Not if you know what tactics you will employ when recession is imminent. And most importantly, not if you know what the yield curve and other indicators are really saying about the current [...]
There’s a common misconception that Medicare is a simple, automatic process when you turn 65. Nothing could be further from the truth. The responsibility to enroll is on your shoulders, and if you miss deadlines or don’t enroll in just the right way, you can incur penalties that will consume chunks of your retirement income for the rest of your [...]
What is a Fiduciary? You may have heard the term in recent times due to the ongoing debate about whether stockbrokers should be held to such a standard. Since doing so would make it harder for them to sell you things that pay them high commissions, peddlers of Wall Street’s wares are, as one might expect, opposed to this imposition. [...]
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