Is the Ten Year Going to 3%?
These two articles point in a bad direction: China’s 2011 total trade surplus was $183B. The surplus with the USA was $270B; the US was 150% of China’s total surplus. China imports lots of “stuff.” More...
Sins Of The Past
Ben Bernanke has said many times that Marriner Eccles, the head of the Federal Reserve in 1936/37 made a mistake by tightening credit (raising reserve requirements). Bernanke blames Eccles’s actions for the 50% More...
Bernanke Goes All In
Well, we got an inflation target from the Fed. Basically, thinking at the Fed has been eliminated. The process has been automated. Bernanke has convinced the Fed board to adopt Core PCE as a determinate of monetary More...
Bernanke’s Latest ‘Hints’ Should Infuriate 280 Million Americans
Bernanke – “I’ve Abandoned The Dual Mandate!” I find myself this morning hoping for the failure of the Federal Reserve. This implies that I’m also hoping for a collapse in the equity markets and a severe More...
Social Security to Bernanke – “You’re Killing Us!”
Bernanke has said dozens of times that he wants to boost inflation in his effort to lift stocks. He’s succeeded in pushing up the cost of things over the past year. Everyone is paying a price. Social Security More...
Did the Fed Just Grease the Skids for Obama’s Refi Plans?
WH and Fed Sleeping Together For me, the most significant development from the Fed’s announcement is a change in policy where the Fed will re-invest proceeds of maturing MBS securities in new issues of Agency More...
Expect Half a $Trillion in Dollar Swaps, This Sunday or Next
On EU banks, Solvency or Liquidity? – Or BOTH? I look at the financial statements of the big banks. 10-Qs and the like. I’ve concluded that, for the most part, it’s a waste of time. There are usually 70 More...
Bernanke Spills his Guts
SEWARD, NE—Claiming he wasn’t afraid to let everyone in attendance know about “the real mess we’re in,” Federal Reserve chairman Ben Bernanke reportedly got drunk Tuesday and told everyone More...
