Money Supply

Key Events In The Coming Week: All Eyes On Payrolls

The key economic release this week is the employment report on Friday, which as Janet Yellen noted in her speech on Friday, is the only economic event (together perhaps with the CPI report on April 15), that could potentially derail a now practically guaranteed rate hike.

China Cuts Economic Growth Forecast In Annual Report: Here Are The Key Changes

As part of the previously previewed "Two Sessions" which started on Sunday, Chinese Premier Li Keqiang on Sunday delivered the annual report on the work of the government in Beijing, summarizing the country’s achievements in the past year, and setting goals for this year. Here are the key targets: GDP 6.5% (down from 6.5-7%), M2 Money Supply growth 12% (down from 13%), CPI of 2-3%, Fixed Investment growth of 9%, down from 10.5%.

In Latest Tightening Move, China To Cut Money Supply Growth To 12%

In the latest warning that Beijing hopes to tighten financial condition, Reuters reported that China plans to target broad money supply growth of around 12% in 2017, down from the 13% target in 2016, signaling a bid to contain debt risks while keeping growth on track.

With All Eyes On Trump Tonight, US Futures, Global Stocks Hug The Flatline

With traders focused on President Trump's address to Congress tonight where he is expected to outline his economic priorities and provide plan details, European stocks are little changed for a second day and Asian stocks decline modestly as U.S. futures trade around the flatline. Oil declines, while the dollar is little changed.

As Bitcoin Surges To Record High, China Prepares Its Own Digital Currency

Bitcoin is a primary means of capital flight out of China. How long will that last? Here’s one key thought on bitcoin from the article: “OKCoin is among cryptocurrency exchanges that has recently taken steps to halt bitcoin withdrawals amid efforts to clamp down on capital outflows.When China launches its own cryptocurrency, will it ban Bitcoin transactions? If so, what happens to the price of Bitcoin?

Ten Great Economic Myths

Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an analysis of what is wrong with them.

Unleashing Wall Street

Untying Wall Street from bureaucratic rules is at least heading in the right direction. But it will only benefit the Main Street economy if Wall Street is doing business honestly, facilitating win-win deals by matching real capital up with worthy projects. That, of course, is what it is NOT doing. It is a Deep State industry aided and abetted by the Fed’s fake money.

Dazed & Confused... Treasury Buying Versus Asset Valuations?

"I'm dazed & confused...economists and the consensus all acknowledge 2001 and 2007 were low interest rate, debt driven financial and economic bubbles.  However, somehow today's even lower interest rate environment resulting in an additional $9.5 trillion in equity valuation from the last bubble peak...this one is legit and isn't a bubble???"

Alan Greenspan: Ron Paul Was Right About The Gold Standard

"When I was Chair of the Federal Reserve I used to testify before US Congressman Ron Paul... we had some interesting discussions... We would never have reached this position of extreme indebtedness were we on the gold standard, because the gold standard is a way of ensuring that fiscal policy never gets out of line."

China Bonds, Stocks, Commodities Extend Gains As Yuan Tumbles To One-Month Lows After Renewed Liquidity Injection

As China got back to work after Golden Week, it appeared a renewed exuberance appeared in every orifice of liquidity provision (even as PBOC sucked up excess for 6 straight days). Stocks are up, bonds are up, and commodities are soaring (all as Yuan tumbles) and tonight authorities unleashed 100bn reverse-repo (for the first time in 7 days) as leverage seems nothing to worry about again yields drop and asset prices rise.