Can Putin Stand Up To Washington?
Drake University Emeritus Professor of Economics Ismael Hossein-zadeh explains that the reason Russian President Vladimir Putin so often blinks when Washington confronts him is that the ruling oligarchs in the US and Russia are members of the same financial elite. The more than one hundred Russian billionaires are financially integrated into the West and are able to elevate their interests above Russian national interests.
Authored by 720Global's Michael Lebowitz, via RealInvestmentAdvice.com,
“There is no other agency of government which can overrule actions that we take.”
– Alan Greenspan
In what has been the most stunning admission by Janet Yellen so far during her press conference, the Fed Chair said that "we don't fully understand inflation" and added that the "shortfall of inflation this year is more of a mystery."
With all due respect, it's not. But since the Fed is often confused, we would like to do the central bank a favor and "explain" inflation, or the lack thereof as the Fed laments, with just one chart.
To simplify enough that everyone on the FOMC will understand, here it is:
Submitted by Bill Blain of Mint Partners
Blain’s Morning Porridge – September 20th 2017
“New Car, caviar, four star daydream, think I’ll buy me a football team….”
Will they? Won’t they? I’m not talking about Donald’s playground bluster about nuking North Korea back to the 1950s. Shocking and intemperate. Yes. But, plays to his audience.
The day has finally arrived: today the Fed will officially announce the start of its balance sheet shrinkage (full preview here) while keeping rates unchanged, perhaps hiking again in December (market odds at 56%), while revising its economic projections and "dots", most likely in a lower direction.