NIRP has proven to be a dud as far as monetary policy goes.
Europe has implemented FOUR NIRP cuts since June 2014. Throughout this period, EU inflation has barely flat-lined.
The story is similar for Japan, which implemented NIRP at the end of February 2016. Since then the Yen has surged.
While Japanese inflation is trending down:
One week ago we were shocked to learn that no matter what the market was doing, whether it was going, down or sideways, Bank of America's "smart money" (institutional, private and hedge funds) client, simply refused to buy anything, and in fact had continued to sell stocks for a near-record 11 consecutive weeks.
The race for the Presidential nomination runs through the "must win" state of New York today, where Republican Donald Trump will look to sweep his home state and widen his lead over Ted Cruz and John Kasich. For the Democrats, Hillary Clinton will be trying to fend off Bernie Sanders, who's been on an impressive run as of late and seems to have significant momentum heading into this important primary.
Here is what the delegate breakdown currently looks like.
For the Republicans
And the Democrats
They said it could never happen again!! But stocks are not green...
And Nasdaq is red on the week, spanked by NFLX...
Damn It Janet! Do Something!!
This is a pretty sobering piece by Neal Gabler, a well-known and respected writer of serious books, who confesses that he and his wife are pretty much broke. And they aren’t alone. Excerpts:
The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?
Well, I knew. I knew because I am in that 47 percent.