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If the Fed were a commercial bank, it might be declared insolvent
Recently, I have written quite a few posts demonstrating the U.S. Federal Reserve has a ballooning balance sheet as it increases its purchases of assets at an unprecedented clip. In fact, that balance sheet had $800 billion in assets just…
Stephen Roach: Americans’ abandonment of overconsumption is a good thing
Stephen Roach must feel a certain sense of Schadenfreude because he has been warning since the end of the Technology Bubble that U.S. monetary policy was reckless and would end in a very bad way. The bubble reached heights few anticipated,…
Marc Faber: I advise every American to hold his gold outside of the United States
Marc Faber is a hard money, old school investor who thinks that the U.S. government is going to reflate in order to avoid depression and that means gold. But, for those of you who don't know economic history, the fact is that this has been…
German chancellor chastises US for easy money
Angela Merkel, the German Chancellor has rebuked the United States for its easy money policies, suggesting it was kicking the can down the road and setting up a greater problem later. It is high time the debate about monetary policy made…
US jobless claims down on seasonal adjustments
Unemployment claims declined this week to 529,000 from a reading of 542,000 last week. These are very high numbers -- the highest figures in this business cycle. Despite the drop, all of the changes were related to seasonal factors as the…
UK: House price fall moderates, prices still down 13.9% in year
Today the Nationwide released their monthly UK-wide figures on house prices and the numbers were better. House prices fell 0.4% in the last month, bringing the annual fall to 13.9%, down from 14.6% in October.
Nevertheless, this is the…
Fed continues to stonewall in Freedom of Information Act suit
Back on November 7th, I posted a story on how Bloomberg News was compelled to sue the Federal Reserve under the Freedom of Information Act in order to find out what type of assets the Federal Reserve was accepting as collateral for loans to…
James Montier sees “deep value” in markets – he is bullish
James Montier, a market guru usually known as a permabear has turned bullish of late. In keeping with my bullish sentiments, I have posted his thoughts below according to Bloomberg News.
That said, I should always qualify my…
Quote of the day: Willem Buiter – Tits on a bull
Willem Buiter has a very useful and provocative blog at the Financial Times website called Mavercon. The Dutch-born former Bank of England MPC member is not afraid to take policy makers to task or call a spade a spade.
In his latest post…
Case-Shiller Home Price index shows a 17% fall
The S&P/Case-Shiller® Home Price Indices were released yesterday. Unfortunately, I was away all day and could not post. The indices showed a further decline in home prices in the United States through September 2008 (the data most…