by Wolf Richter • • Comments Off on Selling Your European Stocks Before Everyone Sees This Chart?
The European economy has been on a phenomenal roll since 2012, according to the soaring Stoxx 600 stock index. Recessions, unemployment fiascos, toppling banks, collapsing auto sales… they didn’t exist. But what the heck is wrong with this picture?
by David Stockman • • Comments Off on Here Comes QE In Financial Drag: Draghi’s New Monetization Ploy
The ECB launches QE in financial drag by purchasing the kind of “toxic-waste” that took down the US financial system; but it proclaims it’s not “monetizing” any stinking sovereign debt! What it’s really up to is snookering the German sound-money camp.
by Wolf Richter • • Comments Off on Airbus CEO Calls For Currency War, Shoots Himself in Foot
Boeing got more orders in the first quarter than archrival Airbus. So at the ILA Berlin Air Show, Airbus CEO Fabrice Brégier spoke up against this ridiculous injustice. True to his Frenchness, he exhorted the ECB to do what central banks are supposed to do.
by David Stockman • • Comments Off on The Hazardous Hunt For Carry – Why The EM Rebound Isn’t Real
The monetary plumbers keep banging money market rates to zero, thereby ignoring what the money market rate really is in a financialized, debt-ridden system: the price of hot money, the single most important price in all of capitalism.
by Wolf Richter • • Comments Off on Russian Bank Lures German Savers As Russians Yank Out Money
Smart Russians are voting with their bank accounts, dumping rubles at the fastest rate since the financial crisis, and yanking dollars and euros out of banks at a record pace. So where do the teetering banks go to refill these holes? Where the dumb money is: German savers.
by David Stockman • • Comments Off on The Growing Catastrophe Known as Abenomics
In a decade or two, nearly 40% of the Japanese population will be retired; and the single-risk it should never take is to induce a collapse of its currency, and the resulting sharp inflation of its import bill for virtually all its energy and industrial materials.
by Wolf Richter • • Comments Off on Japanese Doomsday Machine Socks It To The Middle Class (But Shorting JGBs Remains A Terrible Idea)
The miracles performed by Abenomics – an economic religion touted with blinding exuberance around the world – and the endless wonders performed by the Bank of Japandemonium, are now coming home to roost.
