…the initial stories across news channels were full of ridicule and indignation at the FOMC’s real-time ignorance as banks and markets collapsed.
Tag Archive for Bernard Connolly
Contributors- Economic and Financial, Must Read
When Prices Fall- Frederick J. Sheehan
by Frederick Sheehan • • 0 Comments
“Real and Illusory Credit” bridged the destruction of phony, 1920s, Federal-Reserve wampum to Bernard Connolly’s evaluation of today’s deadly path. The aftermath of the twenties, as described in David A. Stockman’s The Great Deformation: The Corruption of Capitalism in America, crippled capital spending. Plant and equipment investment tumbled by nearly 80 percent between 1929 and 1933. Inventories were liquidated. There were no buyers. Employment and wages collapsed.
Contributors- Economic and Financial, Must Read
Real and Illusory Credit – Frederick J. Sheehan
by Frederick Sheehan • • 0 Comments
Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually it flows to and through Wall Street. So if you want to know the direction of the next big moves in stocks and bonds, just follow the money. Lee Adler’s Liquidity Trader tracks and shows you the…
Contributors- Economic and Financial, Must Read
When Ro-Ro Goes No-No – Frederick J. Sheehan
by Frederick Sheehan • • 0 Comments
A book finds favor when public opinion is willing to accept its proposition. This Time is Different: Eight Centuries of Financial Folly (2009) by Carmen Reinhart and Ken Rogoff funneled the debate of whether post-2008-crisis governments should increase spending (“fiscal stimulus”) or cut it (“austerity”). The media’s interpretative abilities further…
Contributors- Economic and Financial, Must Read
A Quarrel in a Far-Away Country between People of Whom We Know Nothing – Frederick J. Sheehan
by Frederick Sheehan •
Even for those living on a distant continent, the confiscation of state-guaranteed bank deposits in Cyprus is a reminder. (At this stage, it is not clear the Eurocrats will succeed.) Governments and central-banks blew their capital to save a financial Ouija board – not system – in 2008. Former Federal Reserve Chairman Paul Volcker reminded…
