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When “QE Infinity” Turns Into A Pipedream: Hot Money Evaporates, Rout Follows – See Emerging Markets

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Wolf Richter   www.testosteronepit.com   www.amazon.com/author/wolfrichter Printing money and forcing interest rates to near zero, that’s how the Fed and other central banks papered over the Financial Crisis, duct-taped the bursting credit bubble back together, inflated new asset bubbles, and propped up TBTF banks. And in so doing, they accomplished a huge feat: a worldwide tsunami of hot money. […]

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New Axis of Evil – situation in Egypt

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I have argued that what has just happened in Egypt is a bloodbath that is not a bloodbath, conducted by a military junta responsible for a coup that is not a coup, under the guise of an Egyptian “war on terror”. Yet this newspeak gambit – which easily could have been written at the White […]

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FATCA and the End of Banking Secrecy

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Cezary Blaszczyk writes: Among the many recent revelations about American surveillance operations was the fact that, according to Der Spiegel, the U.S. intelligence apparatus “not only conducted online surveillance of European citizens, but also appears to have specifically targeted buildings housing European Union institutions,” Few, if any, of those commenting of late on such affairs […]

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End Of The Great Market Illusion

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A series of data which normally would be considered anomalous is growing at such an accelerated rate, it’s no longer ‘black swan’ data; now the flock seems to be all black and it’s flying north for the winter. Take a look at the following chart showing Consolidated Foreign Transactions in Long Term US Assets: (click […]

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Why Isn’t There A Demonstrably Correct Economic Theory?

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Submitted by Charles Hugh-Smith of OfTwoMinds blog [9], Although economics doesn’t recognize it, the operative phrase here is systemic injustice. Correspondent C.G.D. recently asked what I consider a very profound question: why isn’t there demonstrably correct economic theory? “My wife has asked me a ‘simple’ question that I can not answer. After 2000 years, why do we […]

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A Stunning 60% Of All Home Purchases Are “Cash Only” – A 200% Jump In Five Years

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Remember when housing was the primary aspirational asset for a still existent US middle class, to be purchased with some equity down by your average 30 year-old hoping to start a family in his or her brand new home, and, as the name implies, aspire to reach the American dream? Those days are long gone. […]

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