The answer to ‘How do you stimulate the economy when there are no more conventional rate or unconventional QE/forward guidance tools?’ is ‘Broaden the set of assets that you can buy”. And while Congress may be unwilling when the unemployment rate is under 5%, they may be more willing at 7% if a recession is underway….and this means they can continue to do slow and unsteady hikes, based on the current framework.
BleachBit, the software revealed yesterday to have wiped Hillary's email servers clean, is now bragging how it "stifle[d] investigations of Hillary Clinton" and was "that cloth" that Hillary was referring to in her now-famous gaffe.
The political duopoly in America simply does not work; nor does it offer hope for a future cohesive society. It may have reasonably worked in the past because of our very gifted, blessed economic advantages... but those advantages are either gone or exiting fast. A corporate media that would force bringing Greens and Libertarians to the presidential debates in 2016 would forever find its penitential-redeeming place in America’s history.
“We have wasted the country’s money on these rats we call athletes. If you are not ready to sacrifice and win even copper or brass medals (referring the 4th and 5th positions) why do you go to waste our money... If we needed people to just go to Brazil to sing our national anthem and hoist our flag, we would have sent some of the beautiful girls and handsome guys from University of Zimbabwe to represent us."
Nearly two years ago we wrote about how the largest pension fund in the world had been hijacked by political hacks in what would be a futile effort to prop up stocks in the "first failed Keynesian state, Japan." Today's announcement of $52 billion of losses in 2Q 16 kind of confirms our point.
"She is opening the door to creating even greater asset bubbles as have the BOJ and ECB and SNB by purchasing corporate bonds and stocks," Gross said of Yellen's hint that she may buy even more assets: "This is not capitalism. This is providing a walker or a wheelchair for an ailing economy. It may never walk normally again if monetary policy continues in this direction."