Trichet

The Trump 'Eclipse Bottom'

"Trump seems to be sticking his foot in his mouth a lot less often these days... And with the recent debt ceiling deal with the Democrats, you could almost say he is acting Presidential... I think Trump staring at the Solar eclipse was the bottom for his Presidency."

The Secret History Of The Banking Crisis

"Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for?"

The ECB Has Almost Run Out Of German Bonds To Buy

Last month the average maturity of all German bond purchases by the ECB bond plunged below 4 for the first time ever, or just 3.98 years, the lowest on record.  This confirms that the ECB is actively reducing the amount of German Bunds it is buying and suggests that the ECB has almost run out of eligible German bonds to buy.

Core Eurozone Inflation Surges To 4 Year High As CPI Nears ECB Target

Mario Draghi's job just became a little more difficult, because one day after the head of the ECB surprised markets with a more dovish statement than expected stressing risks for European inflation, on Friday morning Eurostat reported that Euro zone inflation rose by more than expected to the European Central Bank's target and core inflation increased to its highest level in four years.

Breslow: "The Pain Trades Are Giving Traders Headaches"

The Fed has been hiking. Their speeches have been consistently optimistic on the traction that’s been achieved toward reaching their mandate. And more, rather than less, portraying a board on the same page. Yet the pain trade keeps traders reacting much more to any perceived dovishness.

Global Stocks Drop Ahead Of Fed Rate Decision; Dollar Rises As Sterling Tumbles

European stocks declined for first session in five ahead of Wednesday's Dutch elections and Fed rate hike announcement. Fed concerns also dragged down Asian shares and S&P futures, while the dollar rose. Crude oil has ended its six-day drop. The pound tumbled 0.8% to the lowest since mid-January in a delayed reaction after Theresa May won permission to trigger the country’s departure from the EU.

Why The EU Is Doomed

We are accustomed to looking at Europe’s woes in a purely financial context. This is a mistake, because it misses the real reasons why the EU will fail and not survive the next financial crisis. We normally survive financial crises, thanks to the successful actions of central banks as lenders of last resort. However, the origins and construction of both the the euro and the EU itself could ensure the next financial crisis commences in the coming months, and will exceed the capabilities of the ECB to save the system.

Are Newspapers Captured By Banks?

With Donald Trump going after Jeff Bezos' "capture" of The Washington Post this week, along with Facebook's alleged liberalization of the mainstream's news feeds, the topic of press independence is once again back out of conspiracy theory back-rooms and near top of mind for many average indoctrinated joes. Almost thirty years ago, Edward Herman and Noam Chomsky claimed that media are “effective and powerful ideological institutions that carry out a system-supportive propaganda function," but as ProMarket's Luigi Zingales exposes, for Italy, there is some circumstantial evidence that Italian newspapers are captured by banks.