Free Money

Free Money Leaves Everyone Poorer

The Deep State, in addition to being malignant and entertaining, is incompetent. It fights wars just to lose them. It solves problems and makes them worse. Led by the Yellen Fed, it “improves” the economy and leaves 9 out of 10 people poorer than they were before.

"Marxist Dream" Crushed - In Landslide Vote, Swiss Reject Proposal To Hand Out Free Money To Everyone

This weekend the Swiss population was called upon to make a historic decision, when Switzerland became the first country worldwide to put the idea of free money for everyone, technically known as Unconditional Basic Income, to a vote. As reported previously, the outcome of this referendum would set a strong precedent and establish a landmark in the evolution of the debate of handing out free money in a centrally-planned world. And as predicted, based on early vote projections it has been a landslide decision against the "free lunch."

The Fed's Rate Hike Cycle Is Likely Complete, Not Just Beginning

The Federal Reserve continues discussing the timing for a cycle of rate hikes and a return to "normal"... but there is more than ample evidence which points to exactly the opposite.  Seems the adage "watch what they do...not what they say" is appropriate as ever.  So where's the evidence?

The Five Stages Of Central Bankers' Failure

Only when central bankers accept the complete and utter failure of their policies and accept the reality that their policies have increased wealth inequality and crippled the global economy with debt, speculation and manipulation, can we finally move forward. Until then, we're stuck with the world central bankers have created: a world of rising wealth and income inequality, of permanent manipulation of markets as a means of managing perceptions and of speculative debt/leverage bubbles that will burst with a ferocity few expect or understand.

Here's Why All Pension Funds Are Doomed, Doomed, Doomed

It's looking increasingly likely that third time's the charm: this set of bubbles is the last one central banks can blow. And when markets free-fall and don't reflate into new bubbles, pension funds will expire, as they were fated to do the day central banks chose zero interest rates forever as their cure for a broken economic model.

The Anger Of The Unprivileged Is Rising Globally

Interestingly, privilege serves the same purpose--benefiting the few at the expense of the many--regardless of the system's ideological labels. Socialist, Communist and free-market elites loot their populaces and national wealth with equal gusto. Those who came to do good and stayed to do well first accumulate privileges, which they then leverage into wealth and power.

Three Weird Consequences Of NIRP

Negative interest rates are all the rage at central banks, a symptom of the deflation that is slowing spreading worldwide. Explicit or not, negative rates have odd and counterintuitive consequences. Imagine the entire banking system trying to stand on its head, and that's kind of how a deflationary, NIRP-driven world will look. Here are three early signs.

Fed Up With The Fed

Destroying our ability to discover the real cost of assets, credit and risk has not just crippled the markets--it's crippled the entire economy.

For Stan Druckenmiller This Is "The Endgame" - His Full 'Apocalyptic' Presentation

"The lack of progress and volatility in global equity markets the past year, which often precedes a major trend change, suggests that their risk/reward is negative without substantially lower prices and/or structural reform. Don’t hold your breath for the latter. While policymakers have no end game, markets do."

- Stanley Druckenmiller

Trumped! Why It Happened And What Comes Next, Part 3 - The Jobs Deal

Donald Trump’s patented phrase “we aren’t winning anymore” lies beneath the tidal wave of anti-establishment sentiment propelling his campaign and, to some considerable degree, that of Bernie Sanders, too. What’s winning is Washington, Wall Street and the bicoastal elites. But most of America’s vast flyover zone has been left behind. Thus, the bottom 90% of families have no more real net worth today than they had 30 years ago and earn lower real household incomes and wages than they did 25 years ago. Needless to say, the lack of good jobs lies at the bottom of the wealth and income drought on main street, and this week’s April jobs report provided still another reminder.