Friday, April 16, 2021, 9:44 AM
1
Those cheering today’s sky-high asset prices say they don’t worry because “the Fed has the market’s back”
And they haven’t been wrong to-date. There’s no doubt that the Fed’s $trillions in monetary stimulus has pushed the prices of stocks, bonds, real estate and nearly every other asset class to all-time highs.
But the Fed’s ability to print money with impunity may not last forever. In fact, veteran money manager Bill Fleckenstein warns it could end this year.
Friday, April 2, 2021, 12:07 PM
32
Stocks, houses, commodities, Bitcoin – the price of nearly everything is up double digits vs last years pre-coronavirus highs.
Have the trillions in stimulus ushered in a new bull market in, well, everything? Or have they helped blow the biggest asset price bubble in history?
Macro analyst Wolf Richter suspects the latter. And he doesn’t think we have much time left before it bursts.
Thursday, March 18, 2021, 1:23 PM
2
In this week’s Off The Cuff I sit down with Axel Merk to discuss:
Expert Federal Reserve-watcher Axel Merk joins the program this week to react in real-time to yesterday’s latest announcements by the FOMC and Fed Chair Jerome Powell.
He and I discuss the Fed’s apparent lack of concern about both raising bond yields and building inflation concerns.
As far as Fed Chair Jerome Powell claims, the current easing mode of easy monetary policy is going to continue for a lot longer.
And for those concerned that the repercussions of those policies are having increasingly disastrous effect on the vast majority of the American public, Axel warns that it’s folly to believe the Fed is working in their interests…
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Wednesday, February 17, 2021, 12:25 PM
6
In this week’s Off The Cuff I sit down with Wolf Richter to discuss:
Treasury yields have been rising, with the 10-year just hitting its highest level in nearly a year. What does this signify?
Wolf Richter watches the bond market closely and thinks this is an early tell that the Fed may end up disappointing the markets eventually.
Like many of our recent guest experts, Wolf sees higher inflation ahead. And at some point, he sees the Fed — despite its recent stated willingness to let inflation “run hot” for a while — being forced to try to contain it.
Before it gets to the “unthinkable” stage of raising interest rates, it will use the other arrows in its quiver like slowing/stopping QE and eventually selling assets off of its balance sheet. So by allowing the long end of the Treasury curve to rise now, the Fed may be taking its first baby step towards ending its longstanding easing efforts.
Of course, if true, the ramifications of this are tremendous, as Wolf explains here:
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Friday, January 1, 2021, 2:10 PM
29
The Federal Reserve is now in “extreme easing” mode, having printed up nearly $3 trillion in thin-air money just this year alone. It’s not a stretch to expect the value of the dollar to decline even more precipitously from here than current estimates predict.
So, in a world where the Fed is considered by many to BE the market, backstopping investors and stepping in at a moments notice to prevent losses, what is the Fed most likely to do from here?
Wednesday, December 9, 2020, 3:36 PM
21
If you’re concerned about the overreach of government in juicing asset prices to dangerous levels, picking economic winner and losers, and constraining our personal freedoms — you have very good right to be.
So says lifelong champion of free markets, sound money and civil liberty, former US Congressman Dr Ron Paul.
Wednesday, September 23, 2020, 7:51 AM
3
In this week’s Off The Cuff podcast, Chris and Axel Merk discuss:
Last week saw another FOMC statement, which Fed-watcher Axel Merk returns to the program to de-code for us.
In short, the Fed is giving itself more leeway to deal with a problem it has no clue how to fix. It is simply playing for time, trying to reassure us in the meanwhile that it has everything under control.
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Friday, September 18, 2020, 9:01 PM
46
We’re entering a period of time when the major systems that have supported humanity are going to fail.
Or, put more accurately: they are already failing.
Friday, September 18, 2020, 10:08 AM
7
When asked what the biggest risks facing the economy are, David Stockman, lifelong Capital Hill and Wall Street insider, says “That’s easy. There are three: The Fed, The Fed and the Fed.”
After decades of misguided policy and chronically missing its targets, Stockman thinks the Federal Reserve is truly barreling off the rails now, hurtling our market economy towards disaster.
Wednesday, September 9, 2020, 10:03 AM
11
In this week’s Off The Cuff podcast, Chris and Wolf Richter discuss:
Everyone loves a bubble until it bursts. And we now live in age of multiple bubbles, with the Federal Reserve at the center, blowing each with vigor.
This inevitably will end painfully, as every prior bubble era has. But along the way, the more massive the distortions become, the greater the injustice between rich and poor becomes, and the more damage will ultimately follow.
And, slowly but surely, more and more people are waking up to the reality that the Fed’s serial addiction to blowing bubbles is actually the cause of many of today’s problems, not the cure as it would have us believe.
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Have we lost the mettle to address adversity when necessary?
14
Should something unique, but not useful, be valuable?
39
Fed-watcher Axel Merk decodes yesterday's FOMC announcements
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