Main Street

How Dumb Is The Fed?

"Nothing comes from nothing. Fake money produces fake prosperity. Take away the fake money… and the fake prosperity goes “poof,” too. Which is why the Fed will never, voluntarily, stop manipulating prices. It can’t let the markets return to “normal” price discovery. Because the markets are likely to discover prices a lot lower than Dow 20,000."

Five Takeaways From Yellen's Hearings On The Hill

Though the hearings lost much of their appeal when Dr. Ron Paul retired from Congress, the House Republicans have maintained a reputation for being far more hostile to the Federal Reserve than their colleagues in the Senatemanaging to generate some worthwhile moments. While little news was made, with Yellen maintaining her support for generally low interest rates, there were some points made this week worth noting.

Welcome To Donald Trump's Very Own Big, Fat, Ugly Bubble

"...the Fed is only now beginning to apprehend the train-wreck that lies dead ahead (the June FOMC minutes were grasping for something dimly worrisome)... The Donald now owns the Bubble and has left his Presidency and the American economy squarely in harms’ way..."

David Stockman On The Coming Carmageddon

Ben Bernanke’s successors at the Fed and other global central banks still don’t get it. Falsified debt prices do not promote macroeconomic stability. They lead to reckless credit expansion cycles that eventually collapse due to borrower defaults.

Russia-Gate Flops As Democrats' Golden-Ticket

The national Democrats saw Russia-gate and the drive to impeach President Trump as their golden ticket back to power, but so far the ticket seems to be made of fool’s gold...

Putin Critic Detained Hours Before Unsanctioned Protest

In a development that will likely grab media attention in the US, Russian police detained Kremlin opposition leader Alexei Navalny, according to his Twitter feed on Monday, hours before he called on supporters to mount an unsanctioned protest against corruption near the Kremlin.