Bonds

The Reason For So Many Lies: He Finally Realizes He’s In Way Over His Head

By |2020-05-19T19:35:44-04:00May 19th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

This is not a man who’s comfortable thrust into a position of leadership. Say what you want about Ben Bernanke, and there’s a lot that still needs to be said, he at least carried on with the arrogance through thick and thin (almost entirely the latter). Jay Powell sounds like a boxer who just realized the lightweight he thought he [...]

Stocks Haven’t Been Moneyed

By |2020-05-18T19:57:09-04:00May 18th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

Why didn’t 1987 turn out to be 1929 redux? Alan Greenspan was deathly afraid this would be the case, and in turn he made everyone else unnecessarily upset along the same lines. Especially Congress. The fact that both stock market crashes occurred during the month of October, though, actually ends the similarities. That plus clueless Federal Reserve officials.Why the one [...]

Eurodollar University’s Making Sense; Episode 9: The Japanese Were A Monetary Example To Avoid, Not Follow

By |2020-05-18T17:56:55-04:00May 18th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

iTunes: https://apple.co/3czMcWN Spotify: https://spoti.fi/3arP8mY Google: https://shorturl.at/fpsEJ Alhambra-tube: https://youtu.be/1--doZDGZ1M Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/   [Emil's Summary] Dr. Milton Friedman, in a December 1997 article, correctly diagnosed what was wrong with the Japanese economy: not enough money. His prescription? Quantitative easing. It was, unfortunately, malpractice. In late April 2020, the Bank of Japan announced its 24th iteration of it. Maaaaaaaaaaaaaaaaaaaaaaaalpractice.It is often said [...]

Market vs Economy: A Time Mismatch

By |2020-05-18T17:23:53-04:00May 18th, 2020|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

“Intelligence is the ability to adapt to change.” Stephen Hawking   The economic news over the last month has been as awful as anyone alive has ever seen. Unemployment has risen from 3.5% to 14.7% since February with nearly 15 million Americans filing for jobless benefits in the last month alone. The CFNAI hit its third-worst reading ever and that [...]

There Was Never A Need To Translate ‘Weimar’ Into Japanese

By |2020-05-13T17:26:47-04:00May 13th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

After years of futility, he was sure of the answer. The Bank of Japan had spent the better part of the roaring nineties fighting against itself as much as the bubble which had burst at the outset of the decade. Letting fiscal authorities rule the day, Japan’s central bank had largely sat back introducing what it said was stimulus in [...]

“Support”

By |2020-05-12T19:50:23-04:00May 12th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

They merely repeat the words, as it is intended. With major fanfare and widespread praise, the Federal Reserve weeks ago had announced it was going to buy corporate bonds. Well, not actual bonds but ETFs. It hasn’t bought a single one of those, either, at least not until today and yet the program is being assigned the usual magical properties. [...]

A Big One For The Big “D”

By |2020-05-12T18:14:45-04:00May 12th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

From a monetary policy perspective, smooth is what you are aiming for. What central bankers want in this age of expectations management is for a little bit of steady inflation. Why not zero? Because, they decided, policymakers need some margin of error. Since there is no money in monetary policy, it takes time for oblique “stimulus” signals to feed into [...]

Operation sulfatos

By |2020-05-11T16:59:09-04:00May 11th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The military phase was an all-out joke. Carlos Castillo Armas had fewer than 500 men as his “invasion” force. Yet, with only that many he had expected to take back the entire country. More surprisingly, he succeeded. Lt. Colonel Armas had previously participated in the 1944 Guatemala uprising that had forced Jorge Ubico from power. As a supporter and close [...]

Eurodollar University’s Making Sense; Episode 7: The Anti-Weimar

By |2020-05-11T12:52:39-04:00May 11th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

iTunes: https://apple.co/3czMcWN Google-cast: https://shorturl.at/fpsEJ Spotify: https://spoti.fi/3arP8mY Alhambra-tube: https://youtu.be/S1qjswZdisM Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/   [Emil's Summary] The monetary system is missing of money. Expectation of its return is no longer enough; actual recreation of modern money is needed. That job belongs to the private sector, the banks. It was true of the 1930s, and true of present day.Quantitative easing, [...]

Everyone Knows The Gov’t Wants A ‘Controlled’ Weimar

By |2020-05-06T19:37:25-04:00May 6th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

There are two parts behind the inflation mongering. The first, noted yesterday, is the Fed’s balance sheet, particularly its supposedly monetary remainder called bank reserves. The central bank is busy doing something, a whole bunch of something, therefore how can it possibly turn out to be anything other than inflationary?The answer: the Federal Reserve is not a central bank, not [...]

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