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Lacy Hunt On The Unintended Consequences Of Federal Reserve Policies

Authored by Mike Shedlock via www.themaven.net/mishtalk, The Financial Repression Authority interviewed Lacy Hunt, Chief Economist at Hoisington Management on Fed policies. The interview below first appeared on the FRA website along with a video. The emphasis in italics is mine. FRA: Hi, welcome to FRA’s Roundtable Insight. Today, we have Dr. Lacy Hunt. He’s an […]


Squeezing The Consumer From Both Sides

Authored by 720Global's Michael Lebowitz via RealInvestmentAdvice.com, The Federal Reserve raised the Federal Funds rate on December 13, 2017, marking the fifth increase over the last two years.  Even with interest rates remaining at historically low levels, the Fed’s actions are resulting in greater interest expense for short-term and floating rate borrowers. The effect of […]


Exodus Starts: Millennials Ditch City Life

The urban revival of America’s core inner cities has been a decades-long failed experiment, as deindustrialization coupled with failed liberal policies have created a growing problem of inequality and violent crime. Middle-class advancement was once localized in the core of America’s cities, but that is not so much the case today, as those areas are labeled a […]


The 10 “Grey Swans” Events For 2018

One of the traditional push backs against attempts to predict “black swan” events is that they are by default unpredictable, rendering the entire exercise moot. However, for the second year in a row, Nomura’s Bilal Hafeez has found a loophole, or rather loop-animal: the grey swan. As Hafeez writes, while he would like to be […]


One Trader Reflects On A Bad Trade – The Never-Ending Grain Pain (And Whose Fault It Was)

Authored by Kevin Muir via The Macro Tourist blog, I have had some bad trades in my day. But lately, one call has been especially atrocious. For the past couple of years, I have taken stabs on the long side of the grain market. At different times, I have held various positions for different lengths […]


Plasma For Pay – Broke Millennials Sell Blood Just To Survive

There is no doubt, in a period where burdensome student loans and wage stagnation are crushing the hopes of achieving the American dream while living in their parents’ basements, the millennial generation is struggling to survive. In recent times, we have explained how this generation is selling sex on the internet in exchange for money […]


Here’s How Much Retirees Are Spending To Support Their Adult Kids

At one point in time in America, living at home with mom and dad after crossing out of your teenage years and into your 20s was embarrassing and something that was generally avoided at all costs.  And while hard times come and go, 20-somethings who were forced back into their parents’ care worked their tails […]


US Credit Card Debt Surges Above $1 Trillion, Just Shy Of All Time Highs As Student, Car Loans Breach Records

Earlier in 2017, using the latest – and soon to be revised – Fed data, newspapers and financial media reported that US consumer credit card debt had risen above $1 trillion for the first time since the financial crisis. Ironically, just a few months later the Fed revised its data series sharply lower, sending the […]


US Household Debt Is Rising 60% Faster Than Wages, And One Rating Agency Is Worried

In a report released today by DBRS titled “Consumer debt and debt burden”, the rating agency which is best known for keep Italian debt eligible for ECB monetization at the peak of the European banking crisis, looks at the latest Quarterly Report on Household Debt and Credit issued by the NY Fed (discussed here previously) […]


Surging Household Debt Is Forcing More New Yorkers To Rely On Food Pantries

As US stock benchmarks smash through one record high after the next – a central-bank driven phenomenon that disproportionately benefits the wealthy at the expense of the middle-class and working poor – booming credit-card debt is forcing more New Yorkers to seek assistance at the city’s food pantries this holiday season, according to a report […]


Morgan Stanley Turns Apocalyptic On Credit: “A Cycle Turn Is Closer Than Many Believe”

While many have repeatedly warned over the past year that the record gains in credit are simply too good to stay – especially in Europe where yields and spreads have collapsed largely thanks to the ECB’s relentless purchases of corporate debt, with the central bank announcing on Monday it held a record €127.7bn in bonds […]


Millennials Have Ushered In The ‘Baby Bust’ Cycle

Negative Population Growth, Inc., has issued a November report warning that America is no longer making enough babies to keep pace with deaths. The report blames, the ‘baby bust’ phase on the millennial generation (1980-2000), who are having children at record low rates. Their attitudes towards marriage, procreation, and materialism changed dramatically after the Great Recession […]


A Look At Which Students Are Most Likely To Default On Their Student Debt

Since the early 2000’s the amount of student debt outstanding has grown exponentially, along with annual tuitions, and now stands at nearly $1.5 trillion.  Moreover, and not terribly surprisingly, defaults on that growing mountain of student debt have also surged as graduating students quickly discover that they just dropped $200,000 on a near-zero ROIC investment. […]


Attendance At Baltimore City Schools Crashes To 13 Year Low Just As Juvenile Crime Spikes

Project Baltimore, an investigative reporting series conducted by a local Fox affiliate in Baltimore City, has sifted through over a decade of high school records and discovered that attendance at city high schools in 2017 suddenly dropped to a 13-year low of just 76%.  Just to state the obvious, the average high school in Maryland […]


Bill Blain: “Stock Markets Don’t Matter; The Great Crash Of 2018 Will Start In The Bond Market”

Blain’s Morning Porridge, Submitted by Bill Blain of Mint Partners The Great Crash of 2018? Look to the bond markets to trigger Mayhem! I had the impression the markets had pretty much battened down for rest of 2017 – keen to protect this year’s gains. Wrong again. It seems there is another up-step. After the […]