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“We don’t have to worry about a recession — we are in a depression,” says Jim Rickards. “We don’t have to worry about a recession — we are in a depression,” says James Rickards. “If you take the classic definition of a sustained, long-term downturn with economic growth below trend, then we are in the midst of a depression,” says the senior managing director of Tangent Capital and author of “Currency Wars.” Rickards [...] from MarketWatch: Bonds are “a terrible investment” right now, Berkshire Hathaway BRK.A +1.27% Chairman and Chief Executive Warren Buffett told CNBC Monday. He recommended holding a comfortable amount of cash but otherwise investing in “productive assets”, and called having a set asset-allocation strategy “silly.” Bond prices are artificial right now given the Federal Reserve’s purchases of $85 billion a month, “and when that changes, people could lose a lot of money.” http://www.marketwatch.com/story/buffett-on-cnbc-warns-of-looming-big-bond-losses-2013-05-06?dist=beforebell Telegraph Excerpt and Link, by [...] by Phoenix Capital Research
The Fed meets today and tomorrow. The ECB meets on Thursday. Those will be the defining market forces for the next three trading sessions. There is little if any point in trying to trade this week (at least until Thursday). The Fed is notorious for leaking info to the well-connected. The most recent “accidental” sending of a report a day early is just the latest example. In simple terms, the market [...] from KingWorldNews:
Today Jim Sinclair spoke with King World News about the ongoing chaos and told KWN the world is witnessing something that has never been seen in history. Sinclair also warned that “the US is going to get Cyprused.” Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say in this remarkable and exclusive interview. Eric King: [...] By Paul B. Farrell, MarketWatch
Earning season is here. Are you still optimistic about 2013? In the fifth year of an aging bull? With Fed QE stalling? Cheap-money near ending? GDP falling to 2%? Commodities dropping? Political gridlock till 2016? No-new-taxes GOP? Tea Party’s demanding austerity? As unemployment rises? Euro zone near breakup? North Korea, Iran, Syria threatening? Market warnings, crash predicted, recession, cash out? How to factor all into [...] from KingWorldNews: On the heels of another massive QE announcement being pumped into the financial system, today Jim Sinclair told King World News the entire Western world is on fire. Sinclair also cautioned that there will be hell to pay for the reckless behavior the central banks have now laid out before us. Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a [...] Scientist Predicts 60% Market Collapse Chris Martenson is a world-renowned expert on identifying dangerous, yet hidden, exponential growth patterns in global economies, energy demand, and food consumption… And he is predicting a 60% stock market collapse will strike in the next three months. Martenson’s opinion isn’t to be taken lightly, as his research is highly regarded by the United Nations, UK Parliament, and Fortune 500 companies. His shocking forecast is based on a new [...] Sinclair, Farage, Roberts – Cyprus May Dwarf 2008 Collapse Today legendary trader Jim Sinclair told King World News why Lagarde’s IMF Cyprus disaster may cause far more damage than the frightening turmoil the world witnessed during the collapse of 2008. Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, was also joined in this interview by Britain’s very popular MEP Nigel Farage, and [...] By Paul B. Farrell, MarketWatch Yes, another dark “shocker” before the end of the year, an unexpected “black swan.” And sadly for Fed Chairman Ben Bernanke — who hopes his “I saved America from economic collapse” illusion stays intact till he leaves office — he’s not going to get a dream ending to his Fed career. Why? The shocker will happen before his scheduled exit in January, damaging Bernanke’s egocentric [...] Mac Slavo
At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained. Ben Bernanke, Federal Reserve Chairman At the latest Federal Open Market Committee (FOMC), Ben Bernanke assuaged fears of a potential government confiscation of depositor holdings in America by suggesting that such an event is “unlikely” to take place. When asked whether [...] A quarter of Cyprus bank deposits are Russian, so taxing them is unpopular in Moscow. Russian officials are up in arms over a possible levy on Cyprus bank accounts, which Russian president Vladimir Putin denounced as “unfair, unprofessional and dangerous.” There’s good reason for their concern: Nearly a third of all the money in Cyprus’ outsized banking sector is Russian. http://money.cnn.com/2013/03/19/news/economy/cyprus-russia/index.html?iid=Lead Sinclair – Cyprus Disaster Is Much Bigger Than Being Reported Today legendary trader [...] By Paul B. Farrell, MarketWatch
History is accelerating, the American economy is slowing and Fed Chairman Ben Bernanke is the accelerant. Seems like just yesterday his mentor Alan Greenspan admitted to Congress that he “found a flaw” in the “free market ideology” that drove America’s monetary policy for his tenure as Fed chairman. Yes, “flawed;” it took him and America to figure out that self-regulated free markets did “not work.”
You can tell these games are all about balance sheets. Who gives a flying fuck if the FEDS balance sheet has losses ? They just print up some more dollar script notes and walla! Are they putting on this show for everyone to have concern while they rape and pillage the world? from CNBC: … Under the existing plan, the Fed would commence asset sales at some point after policymakers begin to raise interest [...] From Global Economic Trend Analysis: In testimony to Congress on February 27, [Fed Chairman Ben] Bernanke bragged that inflation under his and Greenspan’s watch was a mere 2% a year. Of course Bernanke ignored a housing boom and bust. He also ignored a a dotcom boom and bust, a global financial crisis, numerous bank bailouts, and a policy of “too big to fail” that is now “even bigger.” Fed Inflation A Bloomberg video exposes [...] Bank of England closes in on China currency deal Sir Mervyn King, Governor of the Bank of England, is on the brink of striking a deal with the People’s Bank of China which would cement the UK’s role as the leading G7 trade hub for the world’s fastest growing currency. The Bank of England expects to sign a final agreement to set up a three-year yuan-sterling swap line “shortly”, during a meeting [...] By Paul B. Farrell, MarketWatch Yes, America needs new blood, a strong leader like Mayor Michael Bloomberg as the next Fed Chairman. After a quarter century of failed monetary policies under the disastrous chairmanships of Alan Greenspan and his disciple Ben Bernanke, we need a decision-making powerhouse like Bloomberg, Wall Street visionary, high-tech innovator, philanthropist and proven government leader focused on what’s best for the country and all people. The [...]  from Paul B. Farrell: Near zero economic growth by 2050? Yes, America’s economy is collapsing. Fast. Yes, the “most depressing forecast ever,” says InvestmentNews, trusted source for 90,000 professional financial advisers across America. Actually it’s worse than depressing if you read the details in “On Road to Zero Growth,” the latest Quarterly Letter from Jeremy Grantham, founder and chief investment strategist for the $100 billion GMO money managers. Yes, today’s fiscal-cliff drama [...] Under Fed Chairman Ben Bernanke, the Fed has been the great enabler of Washington’s fiscal excesses of the past few years. The Fed’s quantitative easing blurs the line between fiscal and monetary policies. The Fed may still be politically independent, but fiscal policy has become very dependent on the willingness of the Fed to purchase lots of government securities. A consolidated statement of the US Treasury and the Fed would show [...] Federal Reserve Chairman Ben Bernanke is delivering a speech on the housing market in Atlanta.
Some of the key points, via Bloomberg: Bernanke said the Fed will do what it can to back the housing recovery and reiterated that the Fed would use its policy tools to aid the economy. The Fed chairman also said that the U.S. housing revival faces significant challenges, and that weak housing is a powerful headwind to the recovery. Furthermore, Bernanke said [...] by WashingtonsBlog
The Federal Reserve Is the Real Winner US News and World Report notes that Bernanke helped Obama to get re-elected by juicing the economy… at least temporarily: The Federal Reserve had a key role in the presidential election—possibly even a decisive one. Exit poll results show that, not surprisingly, a majority of voters said the struggling economy was their top concern …. In the end, voters seemed to believe the economy was gradually getting [...] by Phoenix Capital Research Yesterday we assessed the impact a second Obama term would have on the US economy and markets. Now let’s assess what impact a Romney Presidency would have on the US economy and financial markets. For starters, Romney has already stated that he would fire Fed Chairman Ben Bernanke if he wins office. While this doesn’t represent the real shakeup that the Fed needs, it’s definitely a step in [...] by Phoenix Capital Research
During its first term in office, the Obama Administration thus far has proven itself in favor of increased Government control and Central Planning. That is, the general trend throughout the last four years has been towards greater nationalization of industries (first finance, then automakers and now healthcare and insurance), as well as greater reliance on our Central Bank to maintain our finances.
Last year the US Federal Reserve bought [...] |
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