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Central Planning is always destined to fail, and central planners (at everyone else’s expense) always do whatever they can to delay the inevitable. Negative interest rates (that is, getting paid … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The hullabaloo in the repo market torpedoed the function of Interest on Excess Reserves and forced the Fed to go back to the future. With its … Read more
PARTY LIKE IT’S 1979: How Democrats can raise taxes without technically raising taxes. Short version: Eliminate indexing tax rates to inflation. The argument in favor of indexing is that it eliminates … Read more
From Birch Gold Group Pension programs may suffer due to a new round of currency wars that are poised to begin between the ECB (European Central Bank) and the U.S. Last … Read more
by Martin Armstrong QUESTION: Marty; You warned that there would begin a cash shortage and real rates would rise in the private sector starting in September after Labor Day. Ok, it’s … Read more
from Zero Hedge If today’s second consecutive repo was supposed to calm the stress in the secured lending market and ease the funding shortfall in the interbank market, it appears to … Read more
via mises: One’s own bookcase provides the perfect illustration of time preference, which is the greater value of possession over non possession. There will be books bought on a whim which … Read more
The OECD projects that the global #economy will grow by 2.9% in 2019 and 3% in 2020 – the weakest annual growth rates since the #FinancialCrisis. Read more in our … Read more
by NuttBoxer Fed is losing control. 2008 will look like a flesh wound compared to what’s coming. wallstreetonparade.com/2019/09/the-fed-intervened-in-overnight-lending-for-first-time-since-the-crash-why-it-matters-to-you/ www.cnbc.com/2019/09/18/fed-loses-control-of-its-own-interest-rate-on-day-of-big-decision-this-just-doesnt-look-good.html Some background for people who don’t understand our economy. Whittle … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The Fed has different priorities than the ECB, the Bank of Japan, the Swiss National Bank, et al. During the press conference today following the FOMC … Read more
The central bank announces it’s taking down its benchmark overnight lending rate to a target range of 1.75% to 2%. According to the Fed’s “dot plot” of individual expectations, five … Read more
via CNBC: Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, Simon Baptist, global chief economist of the Economist Intelligence Unit, told … Read more
Former Texas congressman, Dr. Ron Paul, says that the United States won’t be the exception when negative interest rates crush the economy. Dr. Paul is warning negative interest rates are … Read more
by Tom McClellan President Trump has been articulating his wish on Twitter and elsewhere that the U.S. have interest rates as low as other countries. That’s an understandable wish, as no … Read more
by Martin Armstrong I have said this many times, when it comes to understanding interest rates Trump is speaking the standard mantra that people apply when it comes to interest … Read more
The average rate on the 30-year fixed is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on Sept. 4, … Read more