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Browsing Tag
deflation
Japan: Yen upside risk on deflation threat
More broadly, the recovery from the March tragedy appears to be running out of steam. Retail sales which surged in the April-June period fell in both July and August and deflation appears to be threatening again. The year-over-year pace of…
Long-term interest rates are a series of future short-term rates
On how the expectations theory of interest rates explains why debt-induced depressions are fundamentally deflationary in nature.
The prospects for inflation have not been smaller since 1930
Just where are all those borrowers who are willing and able to borrow the $2 trillion or $20 trillion that hyperventilators believe banks want to lend? The US private sector (firms and households) have instead ramped up their net…
Debt is the Problem and Private Debt is Even More of a Problem
Comstock Partnrs writes that its fund is currently positioned to benefit from a declining stock market. This bearishness is mostly due to the enormous debt built up over the last few decades (total debt-including private debt-- was $11…
US real 10 year yields at record 225bpt discount to JGBs
PIMCO, the world’ largest bond fund call this suppression of yields financial repression because it means savers and bond investors get negative real returns. However, John Hempton pointed out that in Japan, where this monetary policy is…
Government tax coercion versus fiat money liberty
This is a polemic on fiat currency. it is long and detailed. But I believe it is both thorough and logical.
Notes from a Private Briefing with the Bank of Japan
The Bank of Japan held a private briefing with a small group of analysts from leading financial institutions in their NY rep office. The Director-General of the Research and Statistics Department led the presentation. This column…
Gundlach: “It’s very difficult to move forward with a debt-based economic scheme”
Jeffrey Gundlach spoke with Joe Weisenthal of Business Insider in an exclusive interview which they recently carried on their site. Gundlach believes that the economy is “a low-performance mode” that makes the unemployment overhang…
QEIII: Why Not (!?)
Marc Chandler: The Fed cannot rule out renewed Treasury purchases. It does not or should not deny itself its policy options. It is committed to do what is necessary to prevent a slide into deflation, which indeed is a forgotten element of…