Private Sector Slowdown
Mike "Mish" Shedlock
With so many European countries' bonds in negative yield, could the FED actually be deleveraging into European investors who are trying to find more yield? Or is someone in big trouble and unloading US treasuries? Something is keeping yields on US treasuries way out of line with those in Europe.
What does the Galaxy have to do with Japan? Perhaps that there's a black hole in the center of it?
Ruwart's point about taxation is well taken, but what printing our way to prosperity? A lot of people, not just bankers, seem to believe we can do so. The left and the MAGA crowd have this in common (after all, if easy money was bad, Trump wouldn't advocate it). The 2008 crash has become a distant memory to many, never mind the many trillions needed to paper over that mess.
Other than that, glad to see Saudi barbarism getting more attention. It's a travesty that we and others in the West have promoted Wahhabism for decades, really ever since FDR and Abdul Aziz took a ride on an aircraft carrier.
Negative interest rates signal that capital investment in Europe has a negative value. Europe is thoroughly socialist. One cannot seed socialism with fecund cretins who happily subsist on $5/day handouts and expect a positive return on capital investment.