Federal Reserve | timiacono.com - Part 4

Haven’t heard from Investment Biker Jim Rogers in quite a while and, in this interview with CNNMoney’s Nina dos Santos the other day, he’s looking a bit jowly, but he still makes a good deal of sense in his assessment of the world’s central bankers.

Highlights include:

We’re all going to pay a horrible price for the incompetence of these central bankers. We got a bunch of academics who don’t have a clue what they’re doing … This is going to be a disaster in the end and you should be very worried and you should be prepared.


The “glass half empty” folks over at Zero Hedge hoisted this item back up the other day, no doubt aimed at anyone basking in the schadenfreude, now coming in wave after wave, associated with the ongoing global stock market swoon.

Of course, this classic Quantitative Easing Explained xtranormal offering pops up as a related item when viewing the video above at YouTube, helping to explain why BTFD may not be working so well anymore, that is, until QE4 arrives.

They’ll Probably Ask About This…

Federal Reserve Chair Janet Yellen just released her semi-annual Monetary Policy Report to Congress and will soon trudge up to Capitol Hill where, based on the chart below, she’ll have some ’splainin’ to do.

Question number one for those elected officials who aren’t otherwise preoccupied with such things as auditing the Fed will likely be, “Do you regret raising interest rates two months ago?”, for which Yellen will surely have an eloquent prepared response.

Echoes of the 2008 Financial Crisis

I’d have titled this “Explaining the 2008 financial crisis in one commercial”, as one individual in this article at CNN/Money characterized the QuickenLoans Super Bowl commercial below that makes us all think of ten years ago, but that title was too long to fit.

I mean … nice commercial and everything, but QuickenLoans was one of the worst offenders during the era of mortgage madness, giving the unwashed masses more than enough rope to hang themselves vis-a-vis tapping their home equity and such.

I’m repeatedly amazed to see that they’re still around, given the role they played.

There were these comments too: “Thanks Rocket Mortgage for thinking the ‘08 housing crisis needed a sequel” and “Correct me if i’m wrong, but the last time mortgages were this easy there was some sort of global meltdown, right?”

Oil Boom-Bust Redux

The image below (via this story from Canada’s Financial Post) is actually from the 1980s (Texas, perhaps, or maybe Canada – that was a long time ago) when a similar energy boom went bust, leaving untold thousands of people out of work and wondering if they should have, maybe, saved a little more money when times were good in case times turned lean.

The subject of the FP story is, like many others these days in the financial media, whether or not the U.S. and/or Canada are headed for another recession and, naturally, economists are reluctant to answer that generally in the affirmative, even though the evidence is mounting that that’s the direction we’re headed with energy markets central to the discussion.

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