Mike Shedlock

Contributor since: 26 Feb 2010

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• 'Eurozone Will Collapse' Says Former Head of Bank of England: 'It's Real Hell'

  Published 01 March 2016 | viewed 0 times

  Mervyn King, former head of the Bank of England, has written a book that explains why the Eurozone will collapse. His logic is nearly the…

• Deutsche Bank Says Gold Is Expensive, but You Need Some Insurance

  Published 29 February 2016 | viewed 0 times

  Deutsche Bank Says has thrown in the towel on its call that gold would fall below $1000 Call. Now DB says buy gold for insurance.…

• Gold's Message

  Published 29 February 2016 | viewed 0 times

  Steen Jakobsen, Saxo Bank CIO and chief economist, emailed a chart of gold last week with his comments on what the chart means. I meant…

• Global Recession Arrives: Growth Will Fall Apart

  Published 27 February 2016 | viewed 0 times

  It's not often I agree with mainstream economic reports but this is one of those times, at least in terms of current assessment, but not…

• Refugee Crisis Escalates: Greece Pulls Ambassador to Austria; Macedonia Announces Border Controls; 15,000 Trapped in Greece

  Published 25 February 2016 | viewed 0 times

  100,000 refugees have entered Greece since the beginning of the year compared to 5,000 a year ago. Where can they go? On February 16, Austria…

• Lacy Hunt: Secular Low in Long-Term Treasury Bond Yields Remains Ahead

  Published 25 February 2016 | viewed 0 times

  Secular Low in Long-Term Bond Yields Coming Up Hoisington's bond managers, Lacy Hunt and Van Hoisington, doubt the global economy will rebound soon thanks to…

• New Home Sales Unexpectedly Plunge 9.2%, Median Price Down 5.7%

  Published 24 February 2016 | viewed 0 times

  New Home Sales Report Dismal Many Ways Today's new homes sales report was a disaster. Sales fell 9.2% overall, sales in the west plunged 32%,…

• IMF Growth Forecast vs. Reality

  Published 23 February 2016 | viewed 0 times

  Supercharged Optimism Charts of IMF global growth estimates vs.what has actually happened are either humorous or downright pathetic depending on your sense of humor. One…

• Eurozone Recovery is Over: Deflationary Pressures Intensify as Growth Slows

  Published 23 February 2016 | viewed 0 times

  ECB president Mario Draghi has his work cut out for him as deflationary pressure in Europe intensify. Average prices charged by companies for their goods…

• Safes Sold Out in Japan: Customers Hoard Cash in Response to Negative Rates

  Published 22 February 2016 | viewed 0 times

  Safes Sold Out In a Surprise Move, Japan joined the negative interest rate club on January 29. The Bank of Japan expected the move would…

• Europe's Largest Bank, HSBC, Posts Surprise $858 Million Loss: Analysts Expected Profit of $1.95 Billion

  Published 22 February 2016 | viewed 0 times

  Negative earnings "surprises" are like the Energizer Bunny. They run on, and on, and on. Yet, somehow economists and analysis are surprised by the obvious.…

• Core CPI Jumps; Trends in Sticky vs. Non-Sticky CPI; Econoday Fantasyland Thoughts on March Rate Hike

  Published 19 February 2016 | viewed 0 times

  The CPI rose 0% today with core-CPI up 0.3%. Core CPI is a silly construct that excludes food and energy, supposedly because food and energy…

• Fed Governor Says 'Break Up the Banks'

  Published 17 February 2016 | viewed 0 times

  "Break Up the Banks" Minneapolis Fed president Neel Kashkari, a former Goldman Sachs banker, says "Break Up the Banks". Kashkari helped oversee the rescue of…

• 'Just Say No': Austria Announces Daily Quotas on Refugees: Yearly Flow Reduced to 37,500 from 1,000,000

  Published 17 February 2016 | viewed 0 times

  Austria Announces Daily Refugee Quotas Earlier today, Austria announced daily quotas on refugees arriving at its borders. With that announcement, the last hope for Merkel's…

• Draghi's Fears and Hesitation; Negative Results; Four Signs Financial Crisis has Returned

  Published 16 February 2016 | viewed 0 times

  Draghi's Hesitation In a Hearing at the European Parliament's Economic and Monetary Affairs Committee, ECB president Mario Draghi said the "ECB will Not Hesitate to…

• Friendly Enemies and Unfriendly Friends: Two US Allies Fight Each Other in Syria

  Published 14 February 2016 | viewed 0 times

  The Mideast is such a mess it's hard to tell friends from enemies, especially under the idiotic policy under which we operate: "The enemy of…

• Reader Asks About 'Fedcoin': Should the Fed Issue Its Own Bitcoin?

  Published 14 February 2016 | viewed 0 times

  Are central banks planning to issue their own digital currencies? If so, is there anything to fear? Those are the questions at hand today as…

• Auto Loans, Student Debt Lead Household Re-Leveraging

  Published 12 February 2016 | viewed 0 times

  Mortgage debt remained essentially flat in 2015 but the brief period of household debt deleveraging ended in 2013. Since then student debt, credit card debt,…

• Currency Wars: Riksbank Rattles Markets With Rate Cut Deeper Negative; Treasuries and Gold Soar, Societe Generale Drops 13%, Deutsche Bank 7%

  Published 11 February 2016 | viewed 0 times

  Sweden's Central Bank, the Riksbank, rattled markets with a rate cut of .15%, now at -0.50%. Bank shares plunged again. Société Générale is down 13%,…

• Market Sells Yellen's 'Deer in Headlights' Congressional Testimony

  Published 10 February 2016 | viewed 0 times

  Saxo Bank CIO and chief economist Steen Jakobsen phrased Fed Chair Janet Yellen's testimony before Congress this way: "The politicians were rude and pretty much…