I never said it wasn’t powerful. What I continue to show is that it doesn’t work. Ben Bernanke kept his job because despite the carnage, in times of turmoil people are willing to give anyone a second chance. And if the turmoil never ends, so much the luckier – for him. Anyone who promises it’s […]
Everything about the current period smacks of the Great FInancial Crisis, right down to the stupid monetary policies central bankers are using to claim this is not a GFC. In oil markets, it’s even worse,
Fed QE $5.000B CouponPurchase 2020-04-27 NYFed treasury securities operations
Fed QE $1.802B TIPSPurchase 2020-04-27 NYFed treasury securities operations
New bull market? No. Unproven. New lows to come or a retest? No. Unproven. Markets are engaged in a key battle between the worst evolving fundamental picture in our lifetimes on the […]
Now on a weekly basis, we’re witnessing things that couldn’t happen – actually happen.
You should be seriously unnerved by the slow decline in LIBOR.
Basing one’s decisions on analogs from the past is entering a fool’s paradise of folly.Like addicts who cannot control their cravings, financial analysts cannot stop themselves from seeking some analog situation in the past which will clarify the swirl…
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Can a PMI actually hit zero? We may be about to find out.