From Marketwatch "The Federal Reserve on Tuesday said it was establishing a temporary repo facility for foreign central banks that will help make U.S. dollars available in their jurisdictions. In the new facility, the central banks will be able to temporarily exchange...
Central Bank
Stimulus Bill Lets Fed Operate in Complete Secrecy
I guess we’re just supposed to have faith that Jerome Powell will do the right thing. I don’t know about you, but I don’t have that kind of faith in anybody when it comes to passing out billions of dollars in cash or creating government policy. -Mike Maharrey, TAC...
No Bailouts
That adroit member of the British Parliament Enoch Powell once said that “the supreme function of statesmanship is to provide against preventable evils.” This duty, incumbent upon politicians endowed with wisdom, is made difficult because “by the very order of things...
Now, We Get Local. Now The World Gets Real
"Reality is that which when we stop believing in it doesn't go away." - Philip K. Dick In March of 2003, we broke ground on the first real thing I ever built, the house I currently live in. Then I understood that there was only one way this economic and political...
The Money-Printing Gods Have Failed
Hooray! Finally even the robo-machines and day traders are puking, not BTFDing. Today’s 3,000 Dow Point Dump says even they have had enough of the craven dolts who occupy the Eccles Building. You do not need a PhD in economics—or even a night school survey course—to...
SCARE!
It has arrived, a pandemic. It swept the world, we watched, laughed and ignored it. Memes were made, media excitedly reported and millions speculated. It was fun to tinker inside of our minds what we would do should the zombie hoards arrive. We had seen the movies,...
The Fed Panicked, and Its Rate Cut Is Making the Economy Worse
The Federal Reserve's monumental mistake of cutting rates this past week can only be understood in the context of the rising God complex among central planners: an overwhelming combination of ignorance and arrogance. Less than a week ago, several members of the...
End the Fed
In response to the potential economic downturn in the economy arising from the spread of the Coronavirus, the Federal Reserve dropped the federal funds rate by half a point — to a range of 1% to 1.25%. Ironically, after the Fed’s announcement, the stock market dropped...
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