The Mess That Greenspan Made - Part 11

Hope for Human Evolution?

Don’t know exactly how this video was stumbled upon (blue whales were somehow in the mix) but it’s kind of interesting to think about what might be next for human evolution, particularly given the state of the species today (e.g., Syria, Trump).

The possibility of C-sections allowing brains to develop in the womb to sizes greater than the birth canal allows is one of the more outside-the-box notions here.

Of course, the downside (or, maybe not a downside…) would be big-head, small-body alien type features for future generations.

Monday Morning Links

MUST READS
Is QE a saviour, necessary evil or the road to perdition? – Telegraph
Stock rebound erases bad start to 2016, proves point to investors – USA Today
Trust the streak! This is more than just some bear market rally – MarketWatch
Dimon’s Timing Looks Savvier by the Day as Equities Rebound – Bloomberg
A plea for help: How China asked the Fed for its stock crash play book – Economic Times
Chart: Deaths of Roman Emperors vs. Coinage Debasement – Visual Capitlist
Hillary Clinton and the ‘vampire squid’: is Wall Street really a deadly threat? – Guardian
What Republicans did 15 years ago to help create Donald Trump today – Washington Post
Donald Trump’s Working-Class Appeal Is Starting To Freak Out Labor Unions – HuffPo
How Donald Trump Can Fall Short of His Delegate Target – NY Times
The new class warfare in America – Financial Revew
Extinction Burst – Hussman Funds

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
The nagging problem with the stock market’s rebound – CNBC
Wall Street’s Pile of Unwanted Treasuries Exposes Market Cracks – Bloomberg
Stocks finally back in the black. Here’s why investors aren’t in the clear. – Washington Post
The World Market Rebound is Back in Acceleration Mode – Advisor Perspectives
Goldman Holds Fast to Strong Dollar Call on Outlook for Fed – Bloomberg
Gold falls as stronger dollar weighs on prices – Reuters
Germany wants its gold back – RT News
JPMorgan Chase’s forecaster says buy gold, not stocks – CNBC
SGE Gold Trading Volume 2015 Up 84 % Y/Y – BullionStar

ECONOMY/WORLD/HOUSING/BANKING
America’s explosion of income inequality, in one amazing chart – LA Times
Shades of Plaza Accord Seen in Barrage of Stimulus After G-20 – Bloomberg
Ben Bernanke Gives His Take on China’s Policy Choices – Caxin Online
How a ‘Brexit’ could cost U.K. £100 billion and a million jobs – MarketWatch
Brazilians Brace for More Drama at Top Court, Congress – Bloomberg
Australians’ housing debt at all-time high after doubling in 11 years – Domain.com
Majority fears future generations ‘will never be able to buy a home’ – Guardian
The housing bubble is getting ready to implode – My Budget 360
Is Janet Yellen blind to the rebound in inflation? – MarketWatch
Fed’s Lacker says he is confident inflation will return to 2% – CNBC

 

Alternative for Germany

Elections in Germany yesterday, elections in the U.S. tomorrow, both pointing to more turmoil ahead for democracies in the West, spurred in part by turmoil in the Middle East.

Related:

German anti-immigration party celebrates dizzying rise – Reuters
China says Donald Trump is a great example of why democracy is dangerous – Quartz

Monday Morning Links

MUST READS
Why the Fed should stun Wall Street with a rate hike – MarketWatch
Central banks lurch from topsy-turvy 1970s to helicopter money – Financial Times
Mario Draghi’s Lesson for Kuroda: Loose Lips Sink Policy Ships – Bloomberg
Alone in Berlin: How Merkel Has Gambled Away Her EU Power – Spiegel
Setbacks for Merkel’s CDU as anti-refugee AfD makes big gains – Guardian
German anti-immigration party celebrates dizzying rise – Reuters
Trump’s Week of Errors, Exaggerations and Flat-out Falsehoods – Politico
China says Donald Trump is a great example of why democracy is dangerous – Quartz
I can’t be contrarian about Donald Trump anymore: He’s terrifying – Vox
Rubio in Twilight at Florida Appearances – Real Clear Politics
Bearishness Is Strictly For Informed Optimists – Hussman Funds
Thesis Update – Credit Bubble Bulletin

MARKETS/INVESTING
Stocks: 6 things to know before the open – CNN/Money
66% of fund managers can’t match S&P results – USA Today
The Fed caused 93% of the entire stock market’s move since 2008 – Yahoo!
Can Investors Keep Banking on More Help from Central Banks? – Fiscal Times
The trap that has chomped the ‘crash is coming’ crowd – MarketWatch
Gold recovers poise ahead of Fed meeting – Reuters
Ned Davis Research Turns Bullish on Gold – Barron’s
Top 3 gold miners get ratings boost but Goldcorp cut – Mining.com
Japan’s Biggest Gold Retailer Says Negative Rates Boost Demand – Bloomberg
Gold Believers Scoff at Goldman Warning as Wagers on Rally Rise – Bloomberg

ECONOMY/WORLD/HOUSING/BANKING
Is the U.S. Economy Stronger Than We Think? – RCM
Radical Economic Theory, Long Ignored, Gains Converts – Bloomberg
China rebuts economy doomsayers – Financial Times
China’s Growth Target Is the Next Test for Central Bank – Bloomberg
Got Denmark envy? Wait until you hear about its energy policies. – Vox
Nationalism and Dissent: A Battle Over Free Speech Is Raging in India – Vice News
Immigrants help drive Metro Vancouver’s housing market – Vancouver Sun
Chinese property: For whom the bubble blows – Economist
The Effects of a Month of Negative Rates in Japan – Bloomberg
What Would Breaking Up the Banks Even Look Like? – Atlantic

 

Germans in Zero Interest Rate Hell

If the photo below from this Handelsblatt story is any indication, the Germans don’t think much of ECB Chief Mario Draghi’s latest policy move where interest rates were pushed further into negative territory (from -0.3% to -0.4%) and the monthly money printing effort was increased by a third (from 60 billion euros to 80 billion euros).

To wit:

An emotionless Mario Draghi, the president of the European Central Bank, uttered nearly the same words residents of the 19-nation euro zone have been hearing for years.

The ECB’s cheap-money rescue has kept alive the euro, but the cure has been toxic for a nation of savers trapped in zero-interest hell.

Being half German and half Italian (an unusual pairing for the late-1940s/early-1950s) and being well versed in the differences between the two cultures (extreme), it’s clear to me that the only thing Germans liked about the excerpt above was the word “emotionless”.

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