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Tag Archives: Nominal GDP

The US Economy Has Not Recovered And Will Not Recover

Authored by Paul Craig Roberts, The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted Wall Street, corporate executives, and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital gains and to executives in the form of “performance bonuses.” Wall Street benefitted from the bull market generated by higher...

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Apple, FANGs, & Monetary Fools

Submitted by David Stockman via Contra Corner blog, This week the great tree of Apple finally stopped growing toward the sky. During its latest quarter, in fact, i-Pad sales were down 25%, Mac volume came in 4% lower and even the i-Phone barely breached the flat line. In all, Apple’s mighty machine of double digit growth posted a revenue gain of just 1.7% over prior year, while its net income was essentially flat. The real news, however, was that management...

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BofA Presents The 4 “D’s” Of Deflationary Doom

Going into Friday, Japanese monetary policy already stood out as the most egregious example of Keynesian insanity the market has ever witnessed. You’ll recall the central bank is monetizing the entirety of gross JGB issuance and is on a lunatic quest to own the entire ETF market. But the BoJ still hadn’t gone full-Krugman by taking rates negative. That changed overnight when the bank took the NIRP plunge as Haruhiko Kuroda reminded the world that when it comes to maniacal monetary policy, no...

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Gold In 2016: “Economic Power Is Shifting”

Submitted by Alasdair Macleod via GoldMoney.com, Advance signs of a global slump in economic activity emerged in 2015. Furthermore, the dollar's strength, coupled with widening credit spreads confirms a global tendency for dollar-denominated debt to contract. These developments typically precede an economic and financial crisis that could manifest itself in 2016, partially confirmed by the disappointing performance of equity markets. If so, demand for physical gold can be expected to...

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Chasing Unicorns – 5 Investing Myths That Will Hurt You

Submitted by Lance Roberts via RealInvestmentAdvice.com, In the summer of 1885 William R. Travers, prominent NYC businessman and builder of Saratoga Race Track, was vacationing in Newport, Rhode Island. He pointed out a long line of beautiful yachts tied up in the harbor. When he was informed that they all belonged to Wall Street brokers he simply asked, “Where are their clients’ yachts?”. When it comes to investing, there is nothing more dangerous to an individual’s...

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False Premises: The Biggest Myths About The Fed’s Rate Hike

Submitted by Bill Bonner via Bonner & Partners (annotated by Acting-Man.com's Pater Tenebrarum), False Premise The Fed did as expected. It announced it would raise its key rate by a quarter of a percentage point to 0.5% and gradually raise it up over the next three years. Reports the Financial Times: “Historic gamble for Yellen, as Fed makes quarter-point rise.” If all goes well, we’ll be back to “normal” in 2019 – 10 years after the long...

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The Five Reasons Why Credit Suisse Just Turned The Most Bearish On Stocks Since 2008

By Tyler Durden at ZeroHedge Overnight, Credit Suisse – which itself has been a casualty of the global slowdown which has hit European banks hard in recent months – became the latest bank to join Goldman, JPM and increasingly more banks in predicting that 2016 will be a year in which investors will want to rotate out of equities. Specifically, the second largest Swiss bank said that it is “we reduce our equity weightings to our most cautious strategic stance since 2008 and take our mid-2016...

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The Lull Before The Storm – An Ideal Chance To Exit The Casino, Part 1

Submitted by David Stockman via Contra Corner blog, Last night’s Asia action brought another warning that the global deflation cycle is accelerating. Iron ore broke below $40 per ton for the first time since the central banks kicked off the world’s credit based growth binge two decades ago; it’s now down 40% this year and 80% from its 2011-212 peak. As the man said, however, you ain’t seen nothin’ yet. That’s because the above chart is not...

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The Cost Of China’s “Manipulated Market Stability” May Be Too High, BofAML Warns

In August, we learned that even spending CNY1 trillion in plunge protection to prop up an equity market reeling from the unwind of a bevy of backdoor margin lending channels was woefully insufficient. The reason (or one of the reasons): the millions of semi-literate retail investors, housewives, and farmers that had poured money into the market and had previously been inclined to buy every last dip were suddenly selling every last rip in a desperate attempt to recoup their savings which had...

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Why The Friedman/Bernanke Thesis About The Great Depression Was Dead Wrong

Submitted by David Stockman via Contra Corner blog, In explaining to the FT’s Martin Wolf why he bailed out the Wall Street gamblers at Goldman Sachs and Morgan Stanley while crushing millions of ordinary American savers and retirees, Bernanke typically repaired to his go to argument. It had nothing to do with the mild excesses of inventories and labor that had built up in the main street economy owing to the Greenspan housing and credit boom, as explained...

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