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China Goes “Unconventional” In Effort To Tackle Trillions In Debt, Rescue...
Two months ago we first explained why Chinese QE may be inevitable. The Cliff’s Notes version goes like this: Beijing needs to prop up its export-driven economy by devaluing the dollar-linked yuan but...
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China Creates Perpetual Leverage Machine After Dropping Debt Directive
China is in a tough spot and it’s starting to show up in what look like contradictory policy decisions. The problem — as discussed at length in “How China’s Banks Hide Trillions In Credit Risk” and in...
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The Truth About Greece… and What It Means For Larger Problem Countries
The situation in Greece has very little to do with politics or economics. Instead it is entirely focused on just one thing. That issue is collateral. What is collateral? Collateral is an underlying...
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Chinese QE Calls Officially Begin: Bond Swap “Sucks Liquidity”, “Contributes...
On Monday, we highlighted what we called an “insane” debt chart and explained what it means for the PBoC. Here’s a recap: China has launched a bewildering hodge-podge of hastily construed easing...
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Greece Banks Not Out Of The Woods, May Impose Tougher Capital Controls,...
On Friday in “Don’t Tell Merkel, Greek Banks Need Another €10-14 Billion Bailout,” we warned that the €53 billion aid request from Greece was likely only part of the story. The country’s banks, which...
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The political class and Central Banks are unable resolve debt issues in any...
Yesterday we assessed how elements of the financial media are either unbelievably lazy or completely complicit in helping to maintain the illusion of success for the Centralized powers (large...
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China’s Debt Load To Hit 250% Of GDP In 5 Years, IMF Says
Anyone who follows China knows that the country faces a particularly vexing problem when it comes to debt. The way we explain it is simple: Beijing is attempting to deleverage and re-leverage...
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Recession Odds Surge To 47%, Highest Since 2011
Once upon a time, when the market actually discounted the future path of the economy instead of being a lagging indicator to not only underlying macroeconomic conditions… … or simply frontrunning...
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Stocks, Futures Soar As Europe Joins Japan In Deflation, Surge Driven By...
Terrible economic news is wonderful news for markets, all over again, and with the worst S&P500 quarter since 2011 set to close today, some horribly “great” news is just what the window-dressing...
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The Mindless Stupidity Of Negative Interest Rates
Submitted by Lee Adler via The Wall Street Examiner, Here we are in the midst of The Great Stagnation Middle Class Elimination and some central bankers and mainstream economists are promoting negative...
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Draghi Faces Day Of Communication Reckoning In Final Test Of Central Bank...
2016 has been the year that investors turned bearish on central banks. Something snapped in the market’s collective psyche when Kuroda went NIRP and things haven’t been the same since. It’s as though...
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Draghi Delivers “Here Is The Bazooka” Press Conference As Central Banks Make...
Well, the emperor has real clothes – for one more day. The depo rate was cut, PSPP was expanded, LTRO 2.whatever was launched and, perhaps most critically, IG corporate debt was officially made...
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Now We Know Why the ECB Panicked
Submitted by Jeffrey Snider via Alhambra Investment Partners, The only immediate silver lining may be in the end the most fruitful of long-term prospects. Central bankers have done us a profound favor...
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So Called “Trusted Parties”, Bank Collapse, the ECB and Blockchains: Watch as...
The vendors and proprietors of blockchain solutions have almost all traveled the private blockchain route. We, at Veritaseum, have decided to go in the opposite direction. Call it a yearing for our...
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ZIRP, NIRP, QE, Bank Collapse and Helicopters Coming Too Late – The Lehman...
It’s official, I’m calling a banking crisis in Europe. Things didn’t go well the last time I did this. Of course, many will say, “But the rating agencies have learned their collective lessons. They...
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2012 Redux – They Really Don’t Know What They Are Doing
Submitted by Jeffrey Snider via Alhambra Investment Partners, The old adage is that strong and sustained economic growth cures many ills, if not all of them, so it is unsurprising that so many central...
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The EU: a 46 Trillion Euro Lehman Brothers?
So much for QE as the answer to the EU’s problems. In 2012, during the depth of the EU banking crisis which nearly took the entire EU financial system down, Mario Draghi stated that he would do...
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“An Unusual Number Of Known Unknowns”– These Are The Key Event Risks In June
One of the recurring concerns voiced by Bank of America’s Michael Hartnett is that with May now in the rearview mirror, we are entering “the event risk month” of June (incidentally, over the weekend,...
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ECB Balance Sheet Hits Record High (With Stocks At 18-Month Lows)
Draghi, we have a problem. The European Central Bank's balance sheet has reached a new record high this week – surpassing the chaotic expansion peak in 2012 – as Mario Draghi prepares to unleash...
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End All The Myths – The Demise Of Draghi’s Self-Delusion
Submitted by Jeffrey Snider via Alhambra Investment Partners, As it turns out, Mario Draghi is no stranger to blanket promises. In October 2008 as head of the Bank of Italy, Draghi joined Italian...
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