This site has featured evidence of economic weakness in the U.S. for some time, basically since last spring. Now that the Fed agrees so heartily as to add QE on top of Operation Twist, I start looking for buying opportunities in economically-sensitive assets; this being a total reversal of the stance I adopted in May [...]
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Economic policymakers are like children in that they are held only partially accountable for their mistakes and misdeeds. And just as children learn to selectively deny responsibility to get away with naughty behaviour, so policymakers learn that they, too, can conveniently disown the ‘unintended consequences’ of their actions. It is thus refreshing to see that [...] Here is the Fed Open Market Committee’s announcement of November 25, 2008 announcing the implementation of QE1, a $600 billion bond purchase program: This action is being taken to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support housing markets and foster improved conditions in financial [...] I’ll have more on this shortly, but the Fed has announced an open-ended bond purchase program (QE3): “… until such improvement is achieved … “ Here is their statement: Release Date: September 13, 2012 For immediate release Information received since the Federal Open Market Committee met in August suggests that economic activity has [...] Will the Fed announce ”QE 3″ at the next FOMC meeting this month? (Jim Rogers thinks it’s already underway.) While the market reaction Friday and many of the media headlines suggest that this is virtually a foregone conclusion, caution in assuming such makes sense to me. A much-ignored part of Ben Bernanke’s address at Jackson Hole two days ago, discussed [...] Information received since the Federal Open Market Committee met in June suggests that economic activity decelerated somewhat over the first half of this year. This is the first line of the FOMC minutes announced today which shows that, if nothing else, the Fed is the master of understatement. Today, as if to underscore the [...] The economy has sent the Fed a signal, and that is, quantitative easing, ZIRP, and Twist don’t work. Yet the Fed doesn’t realize that and with the economy stagnating and unemployment climbing, it is likely that they will persist with more of the same despite their failures. The manufacturing reports coming [...] This article is from Michael Pollaro’s The Contrarian Take, the best blog on money supply. Michael measures True (“Austrian”) Money Supply (TMS) each month as the data comes out and provides meaningful measures and interpretations of the data. I urge you to visit his site for his data and his excellent explanation [...] This just in from the Wall Street Journal: Brian Sack, a top Federal Reserve staffer who played a key role implementing many of the central bank’s policies in the wake of the 2008 financial crisis, will resign from his job later this year. As head of the Federal Reserve Bank of New York’s markets group, [...] |
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