As Fed Pauses Printing, Total World Debt Tops $100 Trillion
Submitted by Tyler Durden on 10/29/2014 13:45 -0400
If, as Lacy Hunt explains “debt is an increase in current spending in lieu of future spending,” then we have some ‘un-spending’ to do…
https://www.zerohedge.com/news/2014-10-29/fed-pauses-printing-total-world-debt-tops-100-trillion
And The Biggest Beneficiary Of QE3 Is…
Submitted by Tyler Durden on 10/29/2014 15:18 -0400
Aside from the S&P 500 of course, which made billionaires out of millionaires (even if it failed to make billionaires into trillionaires this time around – we will have to wait for QE4 or QE5 for that), some may wonder: who was the biggest beneficiary of QE3? It certainly wasn’t the US middle class, which has seen its real wages decline in 6 of the past 7 months, and its disposable income is back at levels not seen since the mid-1990s. No, the biggest winner of QE3 is the same entity that we noted benefited the most from QE over the past 6 years, and which even the WSJ realized was the primary beneficiary of the trillions in cash created out of thin air by the Fed, when in late September Hilsenrath wrote “Fed Rate Policies Aid Foreign Banks”… something we first said back in 2011 with “Exclusive: The Fed’s $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy, Or Explaining Where All The QE2 Money Went.”
So when it comes to the Fed’s QE3 generosity to foreign banks, what was the real number?
https://www.zerohedge.com/news/2014-10-29/and-biggest-beneficiary-qe3
Life Lessons To Derive From QE And Stress Tests
Submitted by Tyler Durden on 10/29/2014 15:42 -0400
QE destroys societies, economies and financial systems, it doesn’t heal them. So maybe it’s a touch of genius that the great powers of global finance have first pushed Keynes into the academic world and then academics like Bernanke and Yellen into positions such as head of the Fed, making everyone blind to the fact that what they think is beneficial, including many who think they’re real smart, actually hurts them most. This whole thing is so broken and perverted it’s getting hard to understand why anybody would want to continue clinging on to it. But then, what does anybody know? 95%+ of people have been reduced to pawns in someone else’s game, and they have no idea whatsoever.
https://www.zerohedge.com/news/2014-10-29/life-lessons-derive-qe-and-stress-tests
Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, “Buy Gold”
Submitted by Tyler Durden on 10/29/2014 – 13:22
“Gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments.” … “I don’t think it’s possible” for the Fed to end its easy-money policies in a trouble-free manner. …”Effective demand is dead in the water” and the effort to boost it via bond buying “has not worked.”
https://www.zerohedge.com/news/2014-10-29/alan-greenspan-qe-failed-help-economy-unwind-will-be-painful-buy-gold
