finance

Written by David Haggith - The Great Recession Blog

Just about every major banker and finance minister in the world is meeting in Washington, D.C., this week, following two rushed, secretive meetings of the Federal Reserve and another instantaneous and rare meeting between the Fed Chair and the president of the United States. These and other emergency bank meetings around the world cause one to wonder what is going down. Let’s start with a bullet list of the week’s big-bank events:

Bill Gross takes a turn for the downright apocalyptic (with a +/- 5 billion year error margin) in his latest letter speculating on the future of banking and finance under NIRP in a world where the "credit based economic system appears to be in the process of devolving from a production oriented model to one which recycles finance for the benefit of financiers"; a world in which "the negative interest rates dominating 40% of the Euroland bond market and now migrating to Japan like a Zika like contagion, are an enigma to almost all global investors"; a world where our "finance based economic

NHS hospitals are facing pressure from regulators to cook their books and downplay the size of their deficits, according to a whistle blowing finance director. In anonymous evidence given to the House of Commons Public Accounts Committee (PAC), the finance chief told MPs that he and his colleagues are concerned that national regulators are pressurising NHS providers to deceive taxpayers and government departments about their financial performance.

Submitted by Jeffrey Snider via Alhambra Investment Partners,

There are a few correlations that I find particularly compelling.