I pick up Bill Gross where I left him on Friday. He said in his monthly newsletter that the Fed is going to keep interest rates at zero percent through 2010. But, he is not willing to stick his neck out in a liquidity seeking return kind of way even though this is what reflation [...]
asset-based economy's tag archives
Gross isn’t buying corporates, high yield or equities even with zero rates
Nov
1,084 views
Back to the future: Rosenberg says it’s like the crisis never happened
Oct
In today’s morning with Dave article, Gluskin Sheff’s Chief Economist and Strategist says the macro environment makes it look like 2007 all over again – as if the crisis never happened.
It’s like 2008 and early 2009 never happened. Hong Kong’s Hang Seng index just hit a 14-month high as the island benefits from Chinese growth, [...]
1,244 views
The next crisis is already under way
Oct
Wolfgang Munchau of the Financial Times wrote a very important comment piece in today’s Financial Times. In it he said that central banks are targeting asset prices to avoid the brunt of cyclical downturns. This policy is inducing asset bubbles and creating a more volatile real economy with unpredictable negative consequences.
I want to expand [...]
1,564 views
Liquidity trap of a different sort
Apr
As the Fed Funds rate gets close to zero, pundits have been worrying about a pending liquidity trap. While I think these worries are well placed because the Fed is running out of bullets, I am more concerned about inflation right now.
We are in the midst of a credit crisis. Banks are having [...]
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