In theory, the Fed could continue to print money and buy Treasuries and mortgage-backed securities, even pure junk, until the bitter end. But the bitter end would be unpleasant for those that the Fed represents – and now they’re speaking up publicly. They’re worried that their system might break down. It would threaten their empires. It would be the bitter end.
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Tech Companies And Their Love Affair With NSA and CIA
by Wolf Richter • • Comments Off on Tech Companies And Their Love Affair With NSA and CIA
Keyhole Inc., a venture-capital funded startup, was acquired by Google in 2004. Its product became Google Earth. Its technology filtered into Google Maps and Google Mobile. One of the venture-capital investors? The CIA. It didn’t ruffle any feathers at the time. But now we have NSA leaker Edward Snowden and his media blitz.
One Part Of Japan’s Abenomics Salvation Is Already A Fail
by Wolf Richter • • Comments Off on One Part Of Japan’s Abenomics Salvation Is Already A Fail
Japan’s make-or-break economic policies have been named lovingly after Prime Minister Shinzo Abe – lovingly, because if they fail, he gets to carry an albatross called Abenomics around his neck for the rest of his life. And one of the “three arrows” of Abenomics is already headed that way: goosing the economy through a frontal attack in the Currency War.
Currency War Rattles Brazil, Wakes Up the People
by Wolf Richter • • Comments Off on Currency War Rattles Brazil, Wakes Up the People
Fed Chairman Bernanke and his ilk refuse to see the connection. They’re too busy ogling inflation in the US that is suspiciously low. But China has its eyes riveted on the revolt in Brazil. Like all revolts, it’s about deep-seated issues and inequalities, but the spark that lit it – after inflation had made life too expensive – was an increase in bus fares.
Biggest Bond Bubble In History Is Turning Into Carnage
by Wolf Richter • • Comments Off on Biggest Bond Bubble In History Is Turning Into Carnage
“We’ve intentionally blown the biggest government bond bubble in history,” confessed Andy Haldane, Director of Financial Stability at the Bank of England. The bursting of that bubble was a risk he felt “acutely.” He saw “a disorderly reversion” as the “biggest risk to global financial stability.” Seatbelts are being fastened; the clicks can be heard around the world.
(Spanish) Banks Worse Than Pushers
by Don Quijones • • Comments Off on (Spanish) Banks Worse Than Pushers
Nuclear Lobby’s Latest Spin: It’s All Just “Fear” Of Radiation
by Contributor • • Comments Off on Nuclear Lobby’s Latest Spin: It’s All Just “Fear” Of Radiation
France Torpedoes American Movies, Shoots Itself In Foot
by Wolf Richter • • Comments Off on France Torpedoes American Movies, Shoots Itself In Foot
France vetoed the launch of free-trade negotiations between the EU and the US, though France has racked up a big trade surplus with the US and has much to lose. The problem: cultural protectionism. It wants “an explicit exclusion of the audio-visual sector.” A catch phrase for American movies! And a theme that is in the DNA of the French political class.