Beyond the acute vulnerability to any weakening of Credit growth, the Chinese Bubble economy is demonstrating obvious signs of imbalances and price distortions. And that’s a problem for the US and everywhere else.
Fed repos were down on Friday, but we are not out of the woods yet. Not by a long shot. Here’s why. And why it’s scary.
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.
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…
Fed repos outstanding from Temporary Open Market Operations (TOMO) hit a new record on Thursday, October 17. That, in just over a month since the program started, to fix a money market problem that was supposed to be a “one-off.”
One-off my ass.
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.
The Fed started POMO today. But TOMO went up too. Stresses continue to build.