Faber begins by noting that "a deflationary bust, whenever it may happen (tomorrow or 10 years), is inevitable; and is the opposite of an increase in prices from inflation."
(MoneyWatch) It's been five years since the collapse of Lehman Brothers. Has anything changed? Far from being jailed, bankers who presided over the frauds that brought down the U.S. economy in 2008 have kept their money and are living large. "Too
To say that bonds are under pressure would be an understatement.
... A broad-based tax cut, for example, accommodated by a program of open-market purchases to alleviate any tendency for interest rates to increase, would almost certainly be an effective stimulant to consumption and hence to prices.
Using these excess deposits directly for their own speculative trading would be blatantly illegal, but the banks have been able to avoid the appearance of impropriety by borrowing from the repo market. (See my earlier article here.) The banks’ excess
If you have a job that involves building homes, buying homes, selling homes or that is in any way related to the mortgage industry, you might want to start searching for alternate employment.
Treasury Yield 30 Years (Chicago Options)
The Men Who Stole $16 Trillion from America
The Number Of Private Sector Jobs Fell By 278,000 Last Month But The Economy Is Getting Better?
David Stockman's 742-page "The Great Deformation" - Prompts some understanding about the feud between Murray Rothbard and Milton Friedman
One of the challenges in addressing the underfunding of public pensions is determining how big the funding gaps are. Estimates vary because of disagreement over accounting methods. State officials have an incentive to engage in fudging
This is Greg Hunter's interview with Karen Hudes. She is a World Bank whistleblower.
The Root of the Problem is Debt
Minneapolis Fed President Narayana Kocherlakota is speaking at the University of Wisconsin this evening.
Another very volatile day across asset-classes with no-one having a clue what is going on.
National regulators must also be equipped with a set of tools to allow imposition of capital and liquidity requirements or temporary limits on how much cash clients can pull out to avoid the destabilizing "runs" on money market funds seen
America is a sparsely developed and grossly underpopulated British former colony; it became the world’s leading industrial and commercial banking system originated by George Washington’s treasury secretary, Alexander Hamilton. The 1933 Glass-Steagall
These last few years have been exceptionally challenging for those who share in the belief that the endless flood of worthless paper and debt can only end with investors, consumers and citizens being forced to pay a bill they cannot even begin to com
These last few years have been exceptionally challenging for those who share in the belief that the endless flood of worthless paper and debt can only end with investors, consumers and citizens being forced to pay a bill they cannot even begin to comprehend.Read Letter
One of the cardinal rules of banking states that during a currency crisis good money leaves and there is a rush for specie or hard assets.
The U.S. housing recovery has been one of the most encouraging economic stories in the world since the financial crisis.
The US is demanding a sum of $6 billion - the total loss associated with the "London Whale" debacle - in compensation for JPMorgan's mis-selling of mortgage-backed-securities.
Just as I was about to write about the long side of markets, I read about the latest twists and turns in a fascinating story on the short side of things: a potential global helium shortage. And yes, I fought long and hard against the urge to use a pu
An ugly day all around...
This is the long term view on interest rates. The chart shows both the "Fed Funds" equivalent short term rate versus long term interest rates. There has been much discussion as of late about the need for interest rates to rise as they have been his
Once again we ask (rhetorically of course), just what is it that the-powers-that-be mean when they discuss "inflation"?
If you could stay home and relax all day and actually make more money than you do at your current job, would you do it?
The Treasury Dept’s latest daily accounting of the US government’s receipts, expenditures and borrowings--released indicates the legally limited debt of the federal govt has now been exactly $16,699,396,000,000 for 100 straight days.
Obama just signed the Bipartisan Student Loan Certainty Act. It was cheered as a victory for students in higher ed because it keeps federal student loans at low interest rates through 2015. The victory is Pyrrhic.
The same tortured logic has been used to justify the fact that the federal government deigned to bail out Wall Street but not Detroit. Supposedly, the mega-banks pose a systemic risk and Detroit doesn’t. On July 29th, former Obama administration econ