Federal Reserve

Michael Lewitt: "We're In The Late Stages of Ponzi Finance"

“They’ve tried to solve the debt crisis by printing trillions of dollars of more debt, and somehow they expect the economy to grow under the weight of those burdens. We’re just borrowing new money to pay back old money. I would say that we’re in the late stages of Ponzi finance.”

What Really Happened Among The Ja'ss Holes?

“We still have plenty of tools,” remarked a spokesperson: “Janet Yellen, Mark Carney, Andy Haldane, Mario Draghi – does any remote, unelected bureaucracy anywhere in the world have a bigger set of tools?”

Deutsche Bank Calculates How Much Of The S&P's Value Is Due To Central Banks

If the ERP is responsible for 92% of the S&P500 move since 2012, or just over 800 points, that would imply that central bank policies are directly responsible for approximately 40% of the "value" in the market; any moves to undo this support could result in a drop that leaves the S&P in the neighborhood of ~1,400.

Why Millennials Can't & Won't Grow The US Out Of Trouble

As the Millennials are making their way into adulthood, countless economists and nervous Boomers have pinned their hopes on this generation to kickstart the moribund US economy.  There are 3 basic sources of consumptive growth in a nation with twin budget and trade deficits... population growth, wage growth, and/or credit growth and population growth the greatest among these to drive greater demand.  So, the growth of the population, and the Millennials in particular, is worth a pretty close look.

Wake Up America - It's Time To Eliminate The 'Pusher'

Central banks can only do one thing, and that's provide monetary welfare for the wealthy. Wake up, America. The only way to stop widening wealth and income inequality and kick your smack addiction is to eliminate the pusher.

Former Barrick Gold President: "A Big Move Has Begun. There's Something Fundamentally Wrong With The Economy"

"I think a move has begun... When you have bonds at negative interest rates you know there’s something fundamentally wrong with the economy. That’s a statement of the relative safeness of currencies... when people actually feel they can buy that bond and pay money to keep it in that bond just because it’s a safer haven than other investments then that’s pretty bad."

This Is The Way The World Ends...

Would fate permit it, the election of Hillary Clinton will be the supreme and perhaps terminal act in an Anything-Goes-And-Nothing-Matters society. Her reward in office may be to dodge indictment for four years while the nation crumbles around her. This is the way the world ends: not with a bang or a whimper but with a cackle.

It's All About This Friday's Payrolls: Key Events In The Coming Week

After Friday's Jackson Hole repricing of Fed hike expectations, which made it clear that the fate of a September rate hike is now in the hands of the August payrolls number, the main risk event of the week is therefore this Friday's US NFPs for which consensus expects a reading of 180K, down from last month's 217K print. A number substantially above this will make a September hike virtually certain, and potentially risks roiling markets as good news will likely be bad news this time around.

Martin Armstrong Questions "Are Central Bankers Coming To A Bitter End?"

Central bankers these days are seriously trapped. They cannot now reverse their policies for that means they have to admit that they have failed. That is far more serious than you might imagine. To even entertain backing down from negative interest rates means they have to admit that Keynesian/Marxist economics has failed and therein socialism, which is based upon the very principle that government can and is capable of managing the economy.

Global Stocks Slide, Futs Flat; Commodities Down On Stronger Dollar As Hike Odds Reprice Higher

The dollar index rose to a two-week high on Monday, while bond yields jumped to their highest since June and global stocks sold off after senior Federal Reserve officials indicated a U.S. interest rate increase was on the cards in the near term. The Fed effect - and the stronger dollar - reverberated through markets, pressuring stocks in Europe and emerging markets, pushing oil below $47 and the commodity complex lower.

Don't Think Armageddon, Think "A Thousand Balls Of Flame... And Then Crickets!"

A whiff of World War III hangs in the air. In the US, Cold War 2.0 is on, and the anti-Russian rhetoric emanating from the Clinton campaign, echoed by the mass media, hearkens back to McCarthyism and the red scare. In response, many people are starting to think that Armageddon might be nigh - an all-out nuclear exchange, followed by nuclear winter and human extinction. It seems that many people in the US like to think that way. But most of the recent American warmongering toward Russia can be explained by the desire to find anyone but oneself to blame for one’s unfolding demise.

The Moment Of Maximum Peril - Clinton Vs. Trump

Mr Trump may have had an appalling August but he is not to be underestimated. There is still a long way to go before November 8th. Who could have thought a majority of the British people would have been so ignorant to endorse the lies and bigotry of the Leave campaign and opt to plunge the UK into its greatest existential identity crisis since WWII. For Mrs Clinton paradoxically this is her moment of maximum peril. It is always at the moment when she is doing best and riding high in the polls that the US national media turn on her and attempt to burst her bubble.