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The Fed Is Trapped In An Epic Bubble, It Can Never Normalize Rates AgainJun 25, 2021 - 12:42:12 PDT
Bottom line: any attempt to normalize will leads to an immediate bursting of one or more asset bubbles, which will immediately draw the Fed right back in, resulting in an even bigger bubble, and yes- it means that sooner or later the Fed's two most hated assets, cryptos and gold, will both trade far above $100,000 once the world realizes that the hyperinflation that even BofA sees coming is not "transitory."
Jun 25, 2021 - 12:24:05 PDT
The ramp-up in inflation with relatively low mortgage rates has resulted in NEGATIVE real 30-year mortgage rates. Once again, the lowest since 1975. The Federal Reserve chair was Arthur Burns and t…
Jun 25, 2021 - 12:22:23 PDT
To quote Dean Martin, “Ain’t that a kick in the head.” Real interest rates (nominal interest rates less the inflation rate) are more negative than anytime since 1975. The REAL eff…
Two points to discuss with you today: #1: US used car prices look to have finally topped out. We rely on the Manheim Used Vehicle Value Index as a leading indicator here. Manheim specializes in dealer-to-dealer auctions of late model used cars and light trucks. These are near substitutes for new vehicles since they are often …
As in the stagflationary 1970s, the US Federal Reserve is once again denying that its own policies are the reason for a recent surge of inflation, even though there is good reason to think that they are. It is not too late to learn from past mistakes and reverse course – but the clock is quickly ticking down.
Rarely before have asset prices been so high when the future outlook is so uncertain. Where are things most likely to head from here?
There are whole generations who never experienced this type of inflation, this type of destruction of the dollar’s purchasing power...
Red flags are starting to appear this year in the most lucrative and volatile sector of the crypto universe. Although decentralized finance, or DeFi, has declined by a broad 60% or so, the tokens are generally in line with recent declines in digital giants like bitcoin and ether, with a closer look revealing that something else is in the works.
Jun 25, 2021 - 11:46:54 PDT
President Joe Biden announced today that he'd reached an agreement on an infrastructure package with a group of 10 moderate senators.
Wall Street is packaging leveraged loans into bonds at a record pace, stretching bankers, lawyers and debt graders to the limit while showing no signs of slowing.Money managers that bundle and sell collateralized loan obligations are finding they have to make reservations with bond-rating firms months in advance to get a deal graded. Lawyers say they’re...
‘The Eviction Moratorium Is Killing Small Landlords,’ As Ban Is Extended Another MonthJun 25, 2021 - 11:34:48 PDT
The one-month extension of the CDC's eviction moratorium on Thursday was welcome news to tenants but another nail in the coffin for some struggling landlords.
Federal Reserve Gives U.S. Banks a Thumbs-Up As All 23 Lenders Easily Pass 2021 Stress TestJun 25, 2021 - 11:29:01 PDT
If there was an anticlimactic note to this year's test, it's because the industry underwent a real-life version when the coronavirus pandemic struck.
The number of people investing U.S. stimulus money has risen sharply since last year, according to a survey released on Thursday by Betterment.com, and many respondents say they are actively day trading and expect to continue.
Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.
Consumer spending was flat in May with incomes dropping for a second month as the impact of the government's pandemic stimulus payments waned. Inflation, however, posted a sizable gain with prices excluding food and energy jumping by the largest amount in nearly three decades.
In an interview where he expounded upon his claim that the US is already grappling with real inflation rates above 10%, the billionaire investor proclaimed that "in every single aspect of life, I see inflation."
The Feds Collect Most of the Taxes in America—So They Have Most of the Power | Ryan McMakenJun 25, 2021 - 08:59:54 PDT
In 2021, it's clear Americans now have thrown off any notions of subsidiarity and instead embraced the idea that the federal government should be called upon to fund pretty much anything and everything.
BofA expects U.S. inflation to remain elevated for two to four years, against a rising perception of it being transitory, and said that only a financial market crash would prevent central banks from tightening policy in the next six months.
Some Fed governors are talking about hiking, some tapering, some like Powell and Williams suggesting anything is a log ways off. What's going on?
"Officer, I need to report my wife. She lost her gold necklaces."That's basically what happened in Strongsville, Ohio, recently.