Central Banks

This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off

by Wolf Richter •  • Comments Off on This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off

I was interviewed by Jorge Nascimento Rodrigues for “Janela na web” (a Portuguese site) and the printed edition of Expresso. After what I said, he might never interview me again :-]

Selling Your European Stocks Before Everyone Sees This Chart?

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?

Here Comes QE In Financial Drag: Draghi’s New Monetization Ploy

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.

Airbus CEO Calls For Currency War, Shoots Himself in Foot

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.

The Hazardous Hunt For Carry – Why The EM Rebound Isn’t Real

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.

Russian Bank Lures German Savers As Russians Yank Out Money

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.

The Growing Catastrophe Known as Abenomics

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.

LEAKED: Draghi’s Sudden Switcheroo On QE

by Wolf Richter •  • Comments Off on LEAKED: Draghi’s Sudden Switcheroo On QE

It happened at a private meeting with top lawmakers in Germany during a two-day shindig.