Russia Gold “Buying Spree” Continues – Buy 22 Tons In November
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Why Capitalists Are Repeatedly "Fooled" By Business Cycles
Submitted by Frank Shostak via The Mises Institute,
According to the Austrian business cycle theory (ABCT) the artificial lowering of interest rates by the central bank leads to a misallocation of resources because businesses undertake various capital projects that — prior to the lowering of interest rates —weren’t considered as viable. This misallocation of resources is commonly described as an economic boom.
Central Banks Have Pushed The Middle Class Down Into Neofeudal Serfdom
Submitted by Charles Hugh-Smith via OfTwoMinds blog,
The injustice of central-bank enforced neofeudalism cannot be suppressed like interest rates.
The BoJ Just Promised To Buy $2.5 Billion In Make-Believe ETFs: What It Means For Japanese Corporates
When it comes to central bankers gone “full Krugman” (as it were) you’d be hard pressed to find someone more Keynesian crazy than BoJ governor Haruhiko Kuroda.
Kuroda - who earlier this year likened himself to Peter Pan on the way to explaining that it’s possible to conduct unconventional monetary policy in perpetuity as long as market participants continue to “believe” - has not only managed to suck up the entirety of gross JGB issuance, he’s also succeeded in cornering the market for Japanese ETFs.
Citi "Resizes Infrastructure" Post Fed Rate Hike - Slashes 2,000 Jobs
Perhaps in a recognition of the collapsing yield curve, and for sure in the face of the mainstream's bullish narrative on US banks in a post-rate-hike paradigm, Citi has announced plans to cut at least 2,000 jobs starting next month. Despite exuberance over higher rates, it appears Citi's CEO Michael Corbat wants to restructure some of the bank’s businesses.