Great Depression

Fed's Kashkari Releases Plan To End "Too Big To Fail", Compares Banks To Terrorists

In the latest reminder that 7 years after the financial crisis, the US banking system still remains a systemic risk, Minneapolis Fed President Neel Kashkari today released four-step plan to end too-big-to-fail problem. The reason for the proposal: America's "biggest banks continue to pose a significant, ongoing risk to our economy" and "One analogy that helps highlight the trade-off of costs and benefits is the risk of terrorism."

Trump Not Seeking Full Repeal Of Dodd-Frank; Opposes Bank Bailout Provision

In what may be bad news for the financial sector, after opposition to grassroots as well as Congressional republicans, Trump appears to be tempering expectations of a full Dodd-Frank repeal, and according to the WSJ, Trump’s transition team is instead focusing on "rescinding or scaling back individual provisions."

The Fed Has Failed: Business Investment Efficiency Is "Worst Since The Great Depression"

Economic policy objectives (monetary and fiscal) are meant to incentivize domestic private business investment, which drives incomes and the money multiplier effect, i.e. the engine of the economy. Economic policy objectives have failed because CEOs, the private capital allocators, simply cannot accommodate business investment when the demand function is as weak as we currently find it, no matter how available and how cheap the capital.

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Trump and Gold

Donald Trump's election as next US president has given the gold price a short-term 'uncertainty' trading boost. However, Trump's keen interest in the gold standard is a trend worth watching over the next 4 years.

The Establishment Will Get Its "F**K You" No Matter Who Wins

"...I go along with the argument advanced by others that it would probably be better for Hillary to win, because that way the right people (the gang already in power) will be blamed for the descent into the maelstrom and will be expeditiously swept away..."

America's Ruling Elite Has Failed And Deserves To Be Fired

America's Ruling Elite is freaking out because a significant percentage of the American public is trying to fire them. The Ruling Elite has failed and deserves to be fired, and deep down, they know it--and this awareness of their self-serving failure fuels their panic and their loathing of the non-elite Americans who are trying to fire them.

Much More Than Trump

"Revolutions dawn when an appreciable number of the ruled realize their rulers are intellectual and moral inferiors."

Civil War II - Fourth Turning Is Intensifying (Part 1)

As we enter the final stretch of this vitriolic, deplorable, venomous, propaganda saturated, deceitful, rigged presidential election spectacle, it becomes painfully obvious this Fourth Turning is careening toward bloodshed, bedlam, confrontation, and civil war. The linear fixated establishment, who fancy themselves intellectually superior to the irredemables, are too blinded by their sociopathic, increasingly audacious subversion of the Constitution, to grasp the level of rage and disillusionment of a white working class that has been screwed over for decades.

Is ECB 'Omnipotence' "Too Powerful For Any Democracy To Abide"?

The failure of elected politicians to act appropriately has turned central banks into the “only game in town.” And this is turning out to be less a boon to their prestige than a threat to their independence. The ECB, especially, is set to face growing pushback against its independent status, regardless of whether it manages to “save” the EMU. After all, it would have to be quite powerful to succeed – too powerful for any democracy to abide.

The Bull Giveth, The Bear Taketh, & You’re Not Passive

Speculators often prosper through ignorance; it is a cliché that in a roaring bull market knowledge is superfluous and experience a handicap. But the typical experience of the speculator is one of temporary profit and ultimate loss.