As the Yield Curve Flattens, Threatens to Invert, the Fed Discards it as Recession Indicator
This Fed is getting seriously hawkish: It revealed that instead of thinking about backing off rate hikes, it’s replacing the yield curve.
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Bill Black: Fed Lets Goldman Sachs and Morgan Stanley Off Hook, Investors Profit Billions
Bill Black discusses how even though Goldman Sachs and Morgan Stanley failed their recent stress tests to determine whether these banks can weather a financial crisis, the Fed allowed them to pay billions in dividends and stock buybacks to investors.
Read more...Richard Murphy: The Debate on the Proper Role of the Bank of England, Continued
A discussion about the Bank of England raises questions about the role of central banks generally.
Read more...Wolf Richter: Riskiest Junk Bonds Completely Blow Off the Fed, Face “Sudden” Reckoning
Normally risky credits like junk bonds are the first to react when the Fed starts tightening. But we are not in normal times.
Read more...Richard Murphy: Why the Swiss Referendum Proposal of Giving the Central Bank Complete Credit Control is Dangerous Folly
Correcting some misunderstanding about proposed monetary reforms that are the subject of a referendum this weekend.
Read more...Trade War: How Tensions Have Risen Between China, the EU and the US
A very useful recap of trade measures taken so far and potential impacts of various threats made by the US, China, and EU.
Read more...Bill Mitchell: QE Failed in Japan
A short and devastating proof that QE was a bust in Japan.
Read more...Leaky Fed: New Study Uses Taxi Ride Data to Show Increase in Visits When Blackout Lifted and Around FOMC Meetings
Taxi ride data suggests that the Fed is throwing some juicy informational bones to big banks, whether by accident or design.
Read more...Central Banks in the Age of Populism
Central banks are under more and more pressure to respond to public dissatisfaction with their stewardship. Is that such a bad thing?
Read more...The Free Market Threat to Democracy
Democracy is not under stress – it’s under aggressive attack, as unconstrained financial greed overrides public accountability.
Read more...Wells Fargo Screws Customers Yet Again, Now Failing to Make Right on Abuses; Elizabeth Warren Demands Answers
Wells Fargo is still up to no good…
Read more...Mr. Market Has a Meltdown
Musing on the market swan dive yesterday.
Read more...Banks Wince as Wells Fargo Gets a Harder Than Usual Wet Noodle Lashing from the Fed
The Fed implements some new punishments at Wells Fargo, but this is weak tea when what is needed is rat poison.
Read more...Nomi Prins: Trump’s Financial Arsonists
How Trump’s financial deregulators are arranging more gimmies to banks.
Read more...Nomi Prins: My Financial Road Map for 2018
Some crystal ball gazing for 2018.
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