Europe’s economic recovery has stalled. The EMU policy elites took a fateful gamble that global growth alone would lift the eurozone off the reefs, without the need for serious monetary stimulus or a reflation package to ensure take-off velocity. Their strategy has failed. The Bundesbank says
Nomi Prins is a renowned journalist, author and speaker. Her most recent book, All the Presidents’ Bankers, a groundbreaking narrative about the relationships of presidents to key bankers over the past century will be out April 8, 2014. Her last book was a historical novel about the 1929 crash, Black Tuesday. Before that, she wrote the hard-hitting, acclaimed book, It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street (Wiley, September, 2009/October 2010). She is also the author of Other People’s Money: The Corporate Mugging of America (The New Press, October 2004) which predicted the current financial crisis, and was chosen as a Best Book of 2004 by The Economist, Barron’s and The Library Journal, and Jacked (Polipoint Press, Sept. 2006).
She has appeared on numerous TV programs: internationally for BBC, RtTV, and nationally for CNN, CNBC, MSNBC, CSPAN, Democracy Now, Fox and PBS. She has been featured on hundreds of radio shows globally including for CNNRadio, Marketplace, NPR, BBC, and Canadian Programming. She has featured in numerous documentaries shot by international production companies, alongside prominent thought-leaders, and Nobel Prize winners.
Her writing has been featured in The New York Times, Fortune, Newsday, Mother Jones, The Daily Beast, Newsweek, Truthdig, The Guardian UK, The Nation, Alternet, NY Daily News, LaVanguardia, and other publications.
Her engaging key-note speeches are thoughtfully tailored, and she has spoken at venues including the Purdue University/Sinai Forum, University of Wisconsin Eau Claire Forum, Ohio State University Law School, Columbia University, Pepperdine Graudate School of Business, Environmental Grantmakers Association, NASS Spinal Surgeons Conference, and the Mexican Senate.
She is a member of Senator Bernie Sanders (I-Vt) Federal Reserve Reform Advisory Council, and listed as one of America’s TopWonks.
Nomi received her BS in Mathematics from SUNY Purchase, and MS in Statistics from New York University, where she completed all of the required coursework for a PhD in Statistics. Before becoming a journalist, Nomi worked on Wall Street as a managing director at Goldman Sachs, ran the international analytics group as a senior managing director at Bear Stearns in London, and worked as a strategist at Lehman Brothers and an analyst at the Chase Manhattan Bank.
She is currenty a Senior Fellow at the non-partisan public policy think-tank,
“I think it is likely (better than 50/50) that all previous deal records will be broken in the next year or two.” Jeremy Grantham, one of investment management’s few absolutely must-read investment strategists, is out with his latest essay in GMO LLC’s quarterly investor letter. In it, Grantham posits that we’re not quite in a stock market bubble but well on our way. At 2250 on the S&P 500, he’d be willing to sew on the Scarlet “B” and call it what it is. Grantham’s main point, however, is that the next few years should see a deal-making frenzy the likes of which we’ve never seen before, eclipsing the excesses of the previous two cycle peaks because capital is now cheaper and the economic cycle itself is still young enough, whereas by the M&A peaks of 2000 and 2007 it was already aged and tired…
The term “eating clean” has been popping up a lot in recent years. The trend might have been first identified in 1993, when Gerald Celente coined the term “clean foods” in an article written for The Trends Journal.
I didn’t make these calls because of what the charts were telling me, nor did I make assumptions because of the basic fundamentals of supply and demand. I made these calls because I took the time to understand the major events that are happening around the world. That is why I often write about things that may not appear, at first glance, to have anything to do with investing.
By now, you have read many reasons in my past letters on why to proceed with caution as the stock market climbs. That’s because there are always underlying events that could cause the market to break at anytime. This week, the focus is on one that could break the commodities/metals market. For years I have talked about the manipulation of gold and other metals. For years I have talked about how these hard assets are being used to create paper (artificial) assets with values which are exponentially compounded.
Last year’s annual report from the BIS made clear the institution’s skepticism toward its members’ policies – but this year’s really takes the ax to them. Published on June 29, the report is a remarkable document, which, at the least, will exonerate the BIS from responsibility for the next crash, but to which nobody will currently pay the slightest attention, as this week’s action in the equity markets amply demonstrated.
“We believe that a “risk on” investment climate still prevails, despite the many warning signs related to economic growth and financial markets here and abroad,” according to Gary Shilling. “So we continue our defensive stance towards equities and suggest Treasurys as a safe haven and beneficiary of possible deflation, especially in the eurozone.”
Debt Mindblowing Fact Of The Day:
China Has Over 52 Million Vacant Homes
The Subprime Auto-Lending Credit Bubble Is Bursting China
HSBC PMI Misses;
Economy Contracts For 5th Month In A Row Will Spain Default?
Fed Prepares to Maintain Record Balance Sheet for Years
Steve Forbes Warns Of Economic “Catastrophe” Due To Fed’s Dollar Debasement
Obama Unveils Student Loan Debt Bubble Bailout
America’s Insatiable Demand For More Expensive Cars, Larger Homes And Bigger Debts
China Scrambling After “Discovering” Thousands Of Tons Of Rehypothecated Copper, Aluminum Missing
Western Banks Scramble As China’s “Rehypothecation Evaporation” Goes Global
Consumer Credit Has Fifth Biggest Monthly Jump In History;
Revolving Credit Soars By Most Since November 2007 Abenomics’ Legacy:
Japan’s Greatest “Misery” In 33 Years NIRP Has Arrived:
Europe Officially Enters The “Monetary Twilight Zone”
EU Warns Greece Is “A Cause Of Serious Concern” As Top Tax-Collect
Why Central Bank Stimulus Cannot Bring Economic Recovery
Summer Gas Prices Highest Since 2011 As Oil Hits 9-Month Highs It Was A Reeeeeally Bad Winter:
JPM Cuts Q1 GDP From -1.1% To -1.6%
How The Fed Feeds The Sharks, While Shafting Wage Earners And Savers Fed’s Bubble Finance Is Primary Cause of Massive Wealth Gains At The Top Former ECB Chief Economist Says Central Bank Run Monetary System Is “Pure Fiction”
More On The China Property Bubble: April New Housing Starts Down 25%;
Beijing/Shanghai Sales Down 50% What Happens After The Bubble Bursts:
85% Of Pension Funds Could Fail Due To An Era Of Niggardly Returns
The last couple of years are based on a very misguided sense of what’s going on. What has driven the strength of the U.S. market is the false belief that the Fed has saved the U.S. economy,” said Schiff. “We are on the verge of a much worse financial crisis than we had in 2008, because the Fed re-inflated all the busted bubbles, all the while the fundamentals have been eroding.”
Making bold pronouncements about the direction of the business environment is something economists everywhere like to do. But economist A. Gary Shilling, unlike most of his contemporaries, has been right about a great many of his predictions over the last 40 years.
"They are going to trash the euro," economist Gary Shilling said a couple weeks ago. I agree with him… Shilling is the only economist on Wall Street to have correctly predicted lower interest rates – for decades. He is certainly one of Wall Street’s most independent thinkers. And he and I agree on the euro…
If deflation were to occur, it would spark something called a “liquidity trap”. This is where banks, businesses and individuals hold onto money because it will naturally increase in value as prices deflate. By holding onto cash it is not spent or invested – harming economic growth. The ECB’s actions would then have little or no impact. Cutting interest rates would not lead to bank lending, because deflation means hoarding money would produce a real return at less risk than lending it out at interest. One headache for the ECB is that by taking such extraordinary steps to increase bank lending and prevent deflation, it may actually end up encouraging it