Jun 4 2014

Central banks and a global soft default: Current interest payments on public debt now exceed $415 billion per year. In 2000 $1 trillion in Fed debt was held by foreigners while today it is up to $6 trillion.

Global central banks are fully addicted to the opiate of debt. The financial system has created a rentier class that chases investment yield even when the economy isn’t necessarily growing. Think about that for a second. Why should someone expect a guaranteed return at any point in an economic cycle if the real economy is […]

May 2 2013

The $10 trillion question. The ever expanding central bank balance sheets: What does $10 trillion buy you in the market today?

The Federal Reserve has waded deep into uncharted territory.  The Fed has concocted new ways of monetizing debt and allowing banks to essentially expand their balance sheets with no real repercussions to the financial sector.  Of course the shrinking middle class might have something to say about this or the 47.77 million Americans on food […]

Feb 25 2013

What European Recovery? Unemployment at record high and debt only keeps reaching more unsustainable levels. Italy’s Debt to GDP crosses 125 percent.

I never understood why so many people bought into the notion that the European Union was recovering.  If recovery means that a handful of well-connected bankers are bailed out with financial smoke and mirrors instead of facing reality while placing crushing austerity on the public, then yes, maybe a recovery is what was experienced.  As […]

Mar 15 2011

Federal Reserve wild financial beast of Maiden Lane – How the Fed silently helped Hilton and Waldorf properties for the benefit of JPMorgan while placing the cost on working and middle class Americans.

The Federal Reserve has done an excellent job in covering up the trillion dollar banking bailout by essentially pretending it did not occur.  To show how much it doesn’t care, it actually named a few bailout vehicles “Maiden Lane” for the New York Fed’s address in lower Manhattan.  This sounds better than the “New York […]

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