Sunday, August 28, 2016

"...The US is spiraling down into financial, economic and political collapse...,"

"...losing its standing in the world and turning into a continent-sized ghetto full of drug abuse, violence and decaying infrastructure, its population vice-ridden, poisoned with genetically modified food, morbidly obese, exploited by predatory police departments and city halls, plus a wide assortment of rackets, from medicine to education to real estate…

Luxury condo sales in Miami have crashed 44%.

That we know.

...most of the damage is self-inflicted ...the limitless corruption of money politics ...and the imperial hubris and willful ignorance that underlies it all… This level of disconnect between the expected and the observed certainly hurts, but the pain can be avoided, for a time, through mass delusion.

...either we are on our way up to build colonies on Mars, or we perish in a ball of flame.

...year-end bonuses are due in just 4 months, and as of this moment they are not looking good.

...readings below 10 or above 90 indicate extreme positions that are significant in predicting future returns. With the current 90 print, "predicted future returns" are sharply negative...";

Practical men who believe themselves to be quite exempt from any intellectual influence, 
are usually the slaves of some defunct economist. 

Madmen in authority, who hear voices in the air, a
re distilling their frenzy from some academic scribbler of a few years back

John Maynard Keynes

...banning cash is a necessary, if not sufficient, condition for NIRP (Negative Interest Rate Policy) to work

...under a negative rate scenario, the only participant receiving more cash over time is the government.  The private sector slowly collapses as we are seeing in Japan and Europe in real time.

...banks individually create money out of nothing. The money supply is created as ‘fairy dust’ produced by the banks individually, "out of thin air".

The “zero lower bound is no longer insurmountable” as a policy constraint “in practice”;
“It is natural to assume another lower bound exists,” 
and the current rate is “still far from such a lower bound”

Bank of Japan Gov. Haruhiko Kuroda said at the conference Saturday

...eliminating paper currency will do nothing more than push more to buy precious metals

..."We are at a point where the encroachment of government power, whether foreign or domestic, has historically resulted in some form of a rebellion against said power." 

single-family home sales in Aspen 
are down 62% in dollar volume through the first-half of the year. 

Sales of homes priced at $10 million or more — 
almost always paid for in cash — are down 60%.

 ...negative rates as a tax on the private sector to fund the public sector."

Tylers and friends

Negative rates work and are nothing extraordinary or immoral or absurd.

European Central Bank executive board member Benoit Coeure

" would be hard to convince markets and households that things will get better, 
and encourage the shift in mood many economists feel are needed 
to improve economic performance worldwide.

...a slump in expectations about inflation and about other aspects of the economy 
was cited as a central problem complicating central banks' efforts 
to reach inflation targets..."