Money Supply

French Selection Ritual, Round Two: Slightly Premature Victory Laps

There is no political constituency for liberty or anything remotely resembling classical liberalism (= libertarianism) in France.I t is clearly time to once again focus on the only thing that one can actually hope for in politicians, and that is entertainment value; luckily we have good news on that front.

Bob Prechter Warns Market Correction "Larger Than The Malaise Of The '30s" Looms

"Because people do not perceive their moods, tops and bottoms in markets sneak right past them. At the top, people will love the market, and events and conditions will provide them with ample bases for rationalizing being heavily invested... the degree of the corrective wave will be larger than that which created the malaise of the 1930s and 1940s."

Marx, Orwell, And State-Cartel Socialism

"Socialism" is simply another flavor of state-cartel capitalism; Orwell would be proud of all the simulacrum self-serving "socialists" who have managed to enrich themselves at the expense of those actually producing goods and services.

"Hell To Pay"

"No doubt, there’s hell to pay for 100 years of ever escalating financial insanity.  Take it in stride.  The downside is here and it’s not going away any time soon."

Knave Dave's picture

After years of trying to create a "wealth effect", the Federal Reserve is slowly dialing down its special-effects machine. Yet, this week, the stock market provided dot-com-era proof of completely iirrational exuberance -- the kind of stupid stuff that happens when cheap money follows free money.

Key Events In The Holiday-Shortened Week

In this holiday-shortened week (markets closed for Good Friday), focus turns to several inflation prints in G10 in the week ahead, with US and UK inflation data likely to get the most attention. In addition, there are a few scheduled speaking engagements by Fed officials, including a speech by Fed Chair Yellen on Monday.

Venezuela's Money Supply Soars By A Record 200%

Soon after a month-long hiatus from publication, the central bank said late on Friday the total amount of local currency in circulation, M2, as of March 24 was 13.3 trillion bolivars, up 202.9% from a year earlier.

LIBOR Pains

LIBOR is a benchmark reference rate (which explains why some banks were so eager to manipulate it). The pricing of all kinds of floating-rate debt is tied to it (corporate loans, mortgages, student loans, credit card debt, and assorted derivatives, such as currency and interest rate swaps, etc.). That has now become a problem.

Key Events In The Coming Week

The key economic releases this week are the consumer confidence report on Tuesday, the third estimate of Q4 GDP on Thursday, and the PCE report as well as Personal Income & Spending data on Friday. In addition, there are several scheduled speaking engagements by Fed officials this week.