I strongly suspect that Ms. Holmes' delusions that she's going to pull herself out of this mess will, at long last, be dismissed when the reaction she gets to this "3 for 1" offer is the sound of crickets.
"A twentieth-century repetition of the mistakes of ancient Rome would be inexcusable... no society is ever murdered - it commits suicide... I am no prophet of inevitable doom. On the contrary, I am sounding an alarm that disaster lies ahead unless present danger signals are heeded."
The Federal Reserve has pursued the unprecedented monetary policy of lowering rates to zero and increasing their portfolio from 500 billion to over 4 trillion. But as the Fed reminds us, there is a cost.
Every few years, it seems, one or another mismanaged eurozone country falls into one or another kind of crisis. This leads to speculation about the end of the common currency, which in turn spooks the global financial markets. Then the ECB conjures another trillion euros out of thin air and calm returns for a while. At least, that’s how it’s gone in the past. The latest crisis has more than the usual number of flash-points and could, therefore, be something new and different.
"The worst thing he could do -- and I see this as a real danger -- would be to politicize the agencies that produce government economic data, to put people in place that will skew the numbers in his favor. If that happens, the data will be useless, and we’ll essentially be flying blind when it comes to the true state of the economy.”
In a centrally planned economy decisions on what to produce, how to produce, and for whom are taken primarily by the government. But not even Stalin or Roosevelt could come up with a rather exotic tool that can take central planning to a whole new level: carbon taxes.
Greek PM Alexis Tsipras on Saturday warned the IMF and German Finance Minister Wolfgang Schaeuble to "stop playing with fire" in handling his country's debt, suggesting negotiations between Greece and the Troika are far from a compromise.
Per data from the U.S. Department of Agriculture's latest farm income report, the deadly combination of rising input costs, lower grain prices, a strong dollar and excessive leverage looks likely to force many of America's midwest farmers out of business in 2017.