Category Archives: Uncategorized

Have the Biggest US Banks Really Been Nationalized Already?

Dick Bove, who covers the banking sector for Rafferty Capital Markets, was predicting which banks might do better this earnings season.

http://247wallst.com/banking-finance/2015/10/12/have-the-biggest-us-banks-really-been-nationalized-already/

This Much Will Kill You

AsaapSCIENCE investigates how much and/or how long it would take for everyday things to kill you.

http://feedproxy.google.com/~r/Twistedsifter/~3/3iN6ZzGzTo8/

Yellen is transforming the US economy into her favourite textbook model

When you read the standard macroeconomic textbook you will be introduced to different macroeconomic models and the characteristics of these models are often described as keynesian and classical/monetarist. In the textbook version it is said that keynesians believe that prices and wages are rigid, while monetarist/classical economist believe wages and prices are fully flexible. This […]

http://marketmonetarist.com/2015/09/20/yellen-is-transforming-the-us-economy-into-her-favourite-textbook-model/

Will the Fed’s $4.5 Trillion Balance Sheet Matter In Its Rate Hike Decision?

This week will bring yet another FOMC meeting where the U.S. Federal Reserve will release its decision on interest rates for Fed Funds. Whether or not that new announcement comes with a formal interest rate hike or not remains a point that is highly contested. What may matter more than whether Fed Funds rise to 0.25% from a […]

http://247wallst.com/economy/2015/09/14/will-the-feds-4-5-trillion-balance-sheet-matter-in-its-rate-hike-decision/

IMF Says China Economy Slows; Caixin China PMI Collapses

IMF chief Christine Lagarde has said what the economic world already knows. The Chinese economy is slowing and the slowdown will touch the rest of the world.

http://247wallst.com/economy/2015/09/01/imf-says-china-economy-slows-caixin-china-pmi-collapses/

The 10 Nations That Own the Most Gold

24/7 Wall St. has reviewed which nations are the largest holders of gold. These are counted by how much gold is owned by each central bank.

http://247wallst.com/commodities-metals/2015/08/22/the-10-nations-that-own-the-most-gold/

CPI Shows That Inflation Remains Tame

In July, the Consumer Price Index ticked higher for the sixth consecutive month, but less than expected.

http://247wallst.com/economy/2015/08/19/cpi-shows-that-inflation-remains-tame/

Malaysia has a freely floating Renggit – and thank god for that!

The Market Monetarist

The Chinese surprise devaluation yesterday and has put currencies across Asia further under pressure. This is only a natural and the most stupid thing local Asian central bankers could do would be to fight it. Rather as China moves closer to a freely floating exchange rate it should inspire other Asian countries to do the same thing and I am therefore happy to see that the Vietnamese central bank this morning has widened the fluctuation band for the Dong and in that sense moved a bit closer to a freely floating Dong. Even though the hand has been forced somewhat by the PBoC’s devaluation yesterday it is nonetheless positive that we are seeing a move towards more freely floating exchange rates in Asia.

In that since it is not a “currency war”, but rather a liberation war, which in the end hopefully will secure monetary sovereignty to Asian nations such as…

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The 5 Nations Still Buying Gold for Their Central Banks

24/7 Wall St.

gold bars nuggetsIt is no secret that gold has been pounded in recent weeks. Forget about the old highs and hopes of gold going above $2,000 per ounce. Now gold bugs have to seriously contend with the possibility that gold could break under $1,000 per ounce.

What has been interesting to see is that a handful of nations are still adding to their gold reserves. After all, gold reserves are viewed as being crucial to actually putting in a real value that aims to support a nation’s currency. The decline in the price of gold has gotten even worse since the end of June, but five central banks were buyers of gold in the first half of 2015. Still, gold bugs need to consider that not all gold additions are created equally.

New data released by the World Gold Council (WGC) shows central bank purchases and holdings for the month of August. 24/7…

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Horror graph of the week – Greek PMI collapses

The Market Monetarist

If you ever read Friedman and Schwartz’s “A Monetary History of the United States” you know what happens when a central bank fails to act as a lender-of-last resort in the event of a bank run and/or at the same time fails to offset the impact on broad money growth of such bank run.

It of course happened in the US in 1930-31 and again in Europe after the collapse of Credit-Anstalt in Austria also in 1931. In both cases the result was a deep depression. Now it has happened again in Greece, but Greece is already in a deep economic depression.

Just have a look at this shocking graph from Macropolis.gr.

Greek PMI

There is no great reason to trust eyeball-econometrics, but judging from the sharp drop in Greek July PMI (released today) then we should expect another 10-15% drop in Greek real GDP in the next couple of quarters. That…

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