We’re all against “fake news,” right? Until your content is deemed “fake news” in a “fake news” indictment without any evidence, trial or recourse.When propaganda is cleverly engineered, people don’t even recognize it as propaganda: welcome to the USSR…
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.
If we want to make real progress, we have to properly diagnose the structural sources of the rot that is spreading quickly into every nook and cranny of the society and culture.It seems my rant yesterday (Let Me Know When It’s Over) upset a lot of…
Despite the name, the Fed doesn’t actually intervene in the US$ repo market. I know they called them overnight repo operations, but that’s only because they mimic repo transactions not because the central bank is conducting them in that specific place. What really happened was FRBNY allotting bank reserves (in exchange for UST, MBS, and […]
Maybe it’s my cheap seat or my general exhaustion, but the whole staged spectacle is beyond tiresome; I’ve had my fill.
Oh look, the $VIX is getting crushed again. Given all that is going on globally one may be inclined to express surprise, but it really isn’t a surprise. See there’s this monthly […]
The Street has continued to retreat from previous estimates of bank earnings made just a few months ago.
Technology can’t fix what’s broken, because what’s broken is our entire system..The ultimate heresy in today’s world isn’t religious or political: it’s refusing to believe that technology can not only solve all our problems, it will do so painlessly an…
Let’s keep it simple shall we: 2019 remains a battle for control. The forces of intervention want to “extend the business cycle” as Jerome Powell likes to frame it by any means […]
They sure are trying their best. To do what? To goose markets higher.