The Mess That Greenspan Made - Part 30

Tuesday Morning Links

The ECB’s Dilemma – Bloomberg
Draghi may have to throw money out of a helicopter – Telegraph
Oil rises to $40 on hopes OPEC has had enough cheap crude – CBC News
Oil Fundamentals Could Cause Oil Prices To Fall, Fast –
Grexit back on the agenda again as Greek economy unravels – Guardian
Brexit: what if the UK left the EU and could be more like Norway? – Telegraph
Bank of England governor says European Union has helped UK economy – BBC
These States Aren’t Waiting for Donald Trump to Build the Wall – Bloomberg
Trump hammers China while using its immigrants’ money to build tower – Guardian
Florida Sun Sentinel: No GOP candidate worthy of endorsement – Politico
Why Seniors—Not CEOs—Deserve a Raise – The Nation
The Risk I Will Not Take – Bloomberg, Bloomberg

Stocks: 4 things to know before the open – CNN/Money
China Stocks Rebound Shrugging Off Export Slump – Bloomberg
Markets Are Stretched, So I’m ‘All-In Short’ – Kass, RCP
Ask Matt: Are stocks really best for the long run? – USA Today
Why stocks won’t make you as much money over the next 7 years – MarketWatch
Goldman Says Commodity Rally a False Start That’s Set to Fizzle – Bloomberg
Gold nears 13-month peak after China data – Reuters
“We’re Back Baby” – Positive Sentiment Reigns at PDAC – Kitco
10 countries hoarding enormous piles of Gold –
Gold ETF Suspends Issuing Shares Due To “Surge” In Demand – GoldCore

Demographic Trends for the 50+ Work Force – Advisor Perspectives
Why the 242,000 Americans who got a job last month aren’t  celebrating – Guardian
Fed: ‘Silver tsunami’ is holding down wage growth – MarketWatch
Chinese exports plunge 25 percent in February – BBC
Downfall of Brazil’s Lula marks end of Brics fantasy – Telegraph
The Third Republic: Germany Enters Dangerous New Political Era – Spiegel
5 reasons some people think Americans are crazy – MarketWatch
Affordability continues to challenge the housing market – Yahoo!
The Uninspiring Origins of the Federal Reserve – Liberty & Law
Banking Faces an Existential Crisis – Bloomberg


Much ado in the financial media this morning about yet another warning from the Bank for International Settlements about the current state of affairs in the global financial system as it relates to debt levels that now exceed the 2007 highs, negative interest rates, and faltering confidence in central banks who seem increasingly befuddled and desperate.

The tone appears to have been lost on whoever penned the outlier headline below.

The Bloomberg article is about as positive as the headline, so this can’t be blamed on whoever’s responsible for ensuring that headlines are click-worthy to readers.

Maybe it’s not such a bad thing to look on the bright side of things now and then, though this may not be a particularly good opportunity to do so…

Monday Morning Links

BIS warns of risks from negative interest rates – CNN/Money
‘Gathering storm’ for global economy as markets lose faith – Guardian
Debtor days are over as BIS calls time on world credit binge – Telegraph
Economic stimulus could be on Europe’s mind this week – USA Today
China’s Growth Addiction Leaves Deleveraging in Back Seat – Bloomberg
Here’s Why China’s Not the Global Economy’s Problem – Fiscal Times
3 winners and 2 losers from the Democratic debate in Flint – Vox
Shouting between Clinton and Sanders is very loud agreement – Guardian
Sanders: ‘My father’s family was wiped out by Hitler’ – Politico
Culture Rot: Donald Trump Is the Effect, Not the Cause – National Review
Ted Cruz is no white knight to Donald Trump’s dragon – NY Daily News
The Campaign to Toxify Donald Trump Among Jews – Breitbart

Stocks: 5 things to know before the open – CNN/Money
Bottom Fishing & New Bull Markets – AWOCS
This bull market gets no respect – MarketWatch
A Continued Undertone of Risk-Aversion – Hussman Funds
OK, I Get it, this Stock Market Is Going to Be a Mess – Wolf Street
How Hedge Funds Bypass the PBOC’s Market Meddling – Bloomberg
Gold rises to near 13-month high on equities, Fed rate views – Reuters
Investors Buy Gold ETFs at Record Pace – Visual Capitalist
Indian Govt Continues To Hopelessly Obstruct Gold Demand – BullionStar

A world stumped by stubbornly low inflation – FT
Japan central bank to cut next fiscal year’s growth, price estimates – Reuters
Germany Suffers Euro Headache That Will Hurt Europe, King Says – Bloomberg
Europe Will Close Main Migration Route at Today’s Emergency Summit – Vice News
China’s hoverboard makers are banding together to try to save the industry – Quartz
The Total Collapse of Saudi Arabia Is Fast Approaching – Alt-Market
Shanghai Property Market Is `Overheated,’ Top City Official Says – Bloomberg
Negative gearing causing house prices in Australia  to skyrocket – ABC
What the jobs report says about the Fed’s rate hike fiasco – The Week
Greenspan, the Sheepherder –


For anyone who has looked at reviews at (and that probably includes just about all of Western civilization), the distribution of positive and negative assessments (as indicated by the number of stars) in the image below must surely seem odd.

As detailed in this story at The Guardian, there’s a reason for this “ungodly row”, which, suddenly, has become all the more interesting with Mitt Romney’s speech today on the state of the race for the GOP presidential nomination.

Thursday Morning Links

Are markets holding the Fed hostage? – CNN/Money
Negative Rates Strain Financial System – Bloomberg
Is it Time for Helicopter Money? – Project Syndicate
Is the world economy having a 2008 moment? – Guardian
The Great Investment Advice in Warren Buffett’s Annual Letter – Fortune
Warren Buffett’s extraordinary delusion about America – Sovereign Man
Socialists, look to economists at UMass Amherst for support – Boston Globe
Republicans Liked Ben Carson, But Not Enough To Vote For Him – Five Thirty Eight
“How Can I Move to Canada” Searches Spiked 1,150% on Super Tuesday – Anti-Media
White High School Students Using Anti-Latino ‘Trump’ Chants – Vice News
Romney to give speech on presidential race – Politico
Why Trump Now? – NY Times

Stocks: 4 things to know before the open – CNN/Money
Stocks, oil dip, but markets calm as growth fears ease – Reuters
Swedroe: EM Looks Terrible Right Now – Time To Buy –
Wall Street’s big short: President Donald J. Trump – Reuters
Why Big Investors Are Finally Pulling Their Money Out of Hedge Funds – Fortune
Former Chesapeake Energy CEO dies in single-car crash day after indictment – Guardian
Wall Street trading volume signals stock rally isn’t sustainable – MarketWatch
Gold edges back above $1,240/oz as equities retreat – Reuters
After the Gold Rush: Record Cash Just Flooded Into Gold ETFs – Barron’s
Who’d you thank for surging gold price? Thank Donald Trump –

Seeing Economic Patterns That Don’t Exist – Bloomberg
Oregon Sets New High for Minimum-Wage – WSJ
Brazil’s economy shrank 3.8% in 2015 – BBC
Rosenberg: Canadian economy not so dead, after all – Financial Post
China’s Other Growth Figure Is Flashing a Warning – Bloomberg
China’s massive state company layoffs could triple to 6 million people – Quartz
Japan Feb services PMI falls to seven-month low, new business slows – Reuters
Trudeau’s Message to World: Let Government Spending Do the Work – Bloomberg
San Francisco’s Perfect Storm – Dotcom And Housing Bust Combined – Contra Corner
Are Central Banks Exaggerating Deflation Risks? – Marc to Market

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