Four out of five U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and a vanishing American Dream. Hardship is particularly on the rise among whites, based on several measures. Pessimism among that racial group about their families’ economic futures has climbed to the highest point since at least 1987. In the most recent AP-GfK poll, 63 percent of whites called the economy “poor.” (AP Photo/Debra McCown)
De nationale rekenkamer van China gaat op landelijke schaal het leengedrag van lokale overheden in kaart brengen. De regering van premier Li Keqiang heeft daartoe opdracht gegeven, zo werd vandaag bekendgemaakt.
Analysedoor Daniel Zamora Werklozen demoniseren als bezuinigingsexcuus
In grote delen van Europa pieken de werkloosheidscijfers, en voeren regeringen radicale bezuinigingsmaatregelen door. Daniel Zamora vraagt zich af waarom dat niet meer sociaal protest uitlokt.
Over two years ago, in March of 2012, when it was taboo to even suggest the Fed may be forced to admit failure once again with its then "final" monetary intervention Operation Twist (following similar failures with QE1 and QE2), we explained clearly "Why The Fed Will Have To Do At Least Another $3.6 Trillion In Quantitative Easing." The premise was simple: while the Fed had succeeded in raising the notional amount of traditional bank liabilities, primarily deposits (through a matched reserve expansion) courtesy of unsterilized QE, it was failing to expand the universe of money-equivalent collateral in the shadow banking system. In fact, as the following chart shows, the deleveraging in shadow banking has continued, and aside for a tiny bounce in Q4 2012, resumed its downward path in Q1 2013, recording 19 of 20 consecutive quarterly drops (primarily on the back of nearly $3 trillion in ABS deleveraging and $1.2 trillion in repos).
Regardless, we were right, and as of last Friday, the Fed's balance sheet was $750 billion higher, and rising at $85 billion each month, confirming that the true underlying economy is now worse than ever before, and to all those claiming the US is recovering we have a simply thought experiment (because it will never become an actuality) - have the Fed halt and undo its monetary interventions. Yeah... That's what we thought.
Volgens Marc Faber zal het stimulerende beleid van centrale banken leiden tot een financiële ramp. Door de lage rente en de oplopende inflatie wordt de welvaart steeds ongelijker verdeeld. Dat creëert een spanningsveld met mogelijk rampzalige gevolgen.