A recent report published by the Institute of Economic Affairs (IEA) suggests the debt overhang in most developed countries continues to grow and will require consistently stronger fiscal responses from already dwindling public purses.
With monetary and fiscal policy being completely exhausted in the majority of the developed world, a 'Grand Solution' to the debt debacle is on the horizon. What's coming will ignore the many and empower the few.
Almost every asset class is being fixed, manipulated and artificially 'gamed' within markets no longer representative of true value or fundamentals. It's being done by design and controlled by the Ivory Towers of Authority that cannot be questioned or disputed.
Ben Bernanke behind the wheel, US Treasury in the passenger seat, Conglomerates in the back, Regulators in the boot and the People in tow - Welcome to the New Normal.
Yesterday's comments by Ben Bernanke highlights the influence wielded by central bank commentary, but also exposes just how hollow the Fed's policies are becoming.
Greece is hiring Goldman Sachs to sell-off two of its banks. Expect Greece to be underpaid and Goldman to profit as the Troika further erodes Greek national interests.
The ECB and Bank of England have both announced trailblazing, 'forward guiding' monetary policy. Where we're being guided to, still remains a mystery however.
The Fed’s meddling has made global markets dysfunctional and set the scene for the U.S. economy to become a victim of its own success this Friday. We expect the markets to be long on volatility and short on common sense.