Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF. The move is not necessary to counteract inflation and shows that the Fed is operating from the wrong model. Responding […]
Dear Mr. President, Be Careful What You Wish for: Higher Interest Rates Will Kill the Recovery…
The US Spent $20 MILLION Per Job Created From ’08 Onward…
Since 2008 the financial media has been proclaiming that the US was in a “recovery.” This argument was used to justify the insane monetary policy of the Federal Reserve, which maintained ZIRP for seven years and spent over $3 trillion in QE. Well, it turns out there was no recovery to speak of when it […]
Trump Set to Shake Up Fed, Nominate Conservative Bankers onto Ultra-Liberal Board…
Trump is set to nominate Robert Jones chair, CEO of Old National Bank, Carnegie Mellon University professor Marvin Goodfriend and former Treasury Department staffer Randal Quarles to fill the three open seats on the Federal Reserve’s Board of Governors. Both Goodfriend and Quarles are considered to be politically conservative and will serve as a poison […]
Why “Nothing Matters”: Central Banks Have Bought a Record $1 Trillion in Assets in 2017…
A quick, if familiar, observation to start the day courtesy of Bank of America which in the latest overnight note from Michael Hartnett notes that central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, “the largest CB buying […]
Trump To Pick Shadow Banker For Key Fed Post…
The Federal Reserve’s vice chair for supervision is arguably the most important financial regulator in the federal government. No agency has greater oversight responsibility of U.S. financial institutions than the Fed. And the vice chair influences what kinds of trades those institutions can make, how they must prepare for unexpected losses, and what punishment to […]
Trump Reverses Himself On 6 Major Issues in 2 Days…
President Donald Trump has reversed himself on at least six major issues this week, pulling back on long-held promises supported by his base. Four of these reversals alone came in an interview with The Wall Street Journal published Wednesday…
Yellen’s Effed up Attack on Working People, Sad by Mike Whitney…
Why did the Fed raise its benchmark interest rate when inflation is still running below the Fed’s target, workers wages have hardly budged and the economy is not even growing at 1 percent? Yellen was asked that question at a press conference on Wednesday following the release of the FOMC’s statement. Her answer helps to […]
“This Is Not The Reaction The Fed Wanted”: Goldman Warns Yellen Has Lost Control Of The Market…
With stocks soaring briskly around the globe following Yellen’s “dovish” hike, and futures set for a sharply higher open with the Nasdaq approaching 6,000, something surprising caught our attention: in a note by Goldman’s Jan Hatzius, the chief economist warns that the market is overinterpreting the Fed’s statement, and Yellen’s presser, and cautions that it […]
Until the Banking System Is Reformed, There Will Be No Sustainable Recovery…
The Fed did what was entirely expected today, and did it with a pedestrian view towards the future increases. Slow and steady. And so the markets were ‘surprised’, the dollar dumped hard, stocks rallied, and gold and silver got some legs higher. Today was more a ‘technical event’ than anything else. In other words, it […]
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