The world is slowing down. No country escapes a recession forever, whether your country is capitalist or socialist or something in between. Communist and fascist countries are generally in a…
The Fed’s Multi-Trillion Dollar Ponzi Scheme
“You loan me ten bucks. I photocopy the bill four times, give you back one of the copies, and announce that we’re square. That’s monetizing the debt.” …
What Yellen Should Have Said
The question reporters should be asking now is, what did the Federal Reserve Board’s Open Market Committee do for two days last week? The statement it issued based on its…
Central Bankers: Masters of the Universe
Earlier this month, along with our usual dire observations about an economy that has come unhinged, I noted that the world was not coming to an end. On closer inspection,…
Bubble Busters
“I had a stick of CareFree gum, but it didn’t work. I felt pretty good while I was blowing that bubble, but as soon as the gum lost its flavor,…
No Animals Harmed in Drafting Fed Policy Statement
Thousands of years ago, Roman soothsayers would visit the oracles and interpret the entrails of slaughtered animals. We haven’t advanced much since then. Fortunately, no animals are slaughtered today, but…
Swiss Diss
“It is said that the Swiss love only money … this is not true. They also love gold.” …
Less than “Less than Zero”
In June, the ECB lowered the interest rate on bank deposits, including reserve holdings in excess of the minimum reserve requirements, from zero to -0.10%. This week, surprising just about…
Sprinkling the Fairy Dust of Illusory Riches
When the Bank for International Settlements (BIS) calls central bank market rigging “the fairy dust of illusory riches,” it’s time to pay attention. The BIS is the central banks’ central…
Prozac Nation
It’s all stress-free bliss these days … at least for anyone who’s not paying attention. Has someone been putting anti-depressants in the water supply? That’s one way to explain Wednesday’s…