Image: Glasgow, Saturday Night
By Victorian-era artist John Atkinson Grimshaw (1836-1893)
David Rosenberg: Fed Is Probing the Outer Limits of Monetary Policy
Several years of frugality might not be fun, but it is probably just what the doctor ordered
National Debt Growing at Roughly $1 Trillion a Month
The monthly growth rate averaged $1.2 trillion in May
Jim Grant: Radical Monetary Policy Begets More Radical Monetary Policy
“The Fed’s balance sheet has shown 80% or so year-over-year growth. Annualize that and it’s now 700%…”
$10 Trillion of Stimulus Visualized as Pallets of Cash
For those keeping track, $10 trillion works out to be about $30,000 per person in the US
Map: The History of the British Isles Since 100 BCE
The leaders, borders, and populations of the various soveriegn political entities that have existed on the British Isles since 100 BCE
Peter Fisher: Hard to Find an Engine for Growth After Initial Recovery
“The Fed should have a choice: They can either stabilize the real economy, or they can stabilize financial asset prices. You can’t stabilize both…”
Guggenheim Co-Founder: We Are Fundamentally Altering Capitalism in the US
“The dirty little secret of central banking is that, ultimately, the role of the central bank is to finance the government”
Luke Gromen: Economy Can’t Grow Without New Highs in Stock Market
“We are in the first global sovereign debt bubble in nearly 100 years and there is only two ways out: default or inflation”
The Long Road Ahead: Job Losses in Every Post War Recession
During most Post-War recessions, it took about two years to recover job losses. The Global Financial Crisis took over six years.