While everyone is focusing on political issues, the NY Fed published a stunning report on the state of the US consumer.
According to the NY Fed, the average US household has hit a new record for debt, surpassing the old record set at the peak of the 2007 bubble.
Put simply, the average US household today is more in debt that it was in late 2007: the former peak of a massive debt bubble.
World’s Largest Hedge Fund Bridgewater Buys $68 Million of Gold ETF
Just yesterday morning, we said that with the Euro rising as much as it has in recent months (or is that the dollar tumbling), the ECB's next move could - or should - be to talk down the common currency, instead of carrying the hawkish "bias" Draghi has pushed for the past half year, culminating with the Sintra mini tantrum in which the poor central banker was "misunderstood" by markets.
Authored by Jonathan Rochford via NarrowRoadCapital.com,
There’s been a steady stream of recent articles claiming that austerity is dead. The “magic” of false measurements, animal spirits and money printing are used to convince the gullible that there is an easy way out.
This one from James McCormack at Fitch argues that populist politicians are responsible for killing off pragmatic economic policy.
Authored by Adam Taggart via PeakProsperity.com,
We're living through the most extraordinary period of monetary manipulation in all of human history. It’s as widespread as it is delusional.