Road to Depression

Fed official says there is no evidence that QE boosted the economy!

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ST. LOUIS, Missouri (PNN) - August 18, 2015 - The Federal Reserve is putting some of its post-crisis actions under a magnifying glass and not liking everything it sees.

In a white paper dissecting the Fascist Police States of Amerika central bank's actions to stem the financial crisis in 2008 and 2009, Stephen D. Williamson, vice president of the St. Louis Fed, finds fault with three key policy tenets.

Why do so many working age Amerikans choose not to enter the workforce?

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NEW YORK (PNN) - July 30, 2015 - Today we look at a unique dataset - Gallup’s annual poll of job satisfaction - to see what it can tell us about secular trends in employment, consumer confidence and spending.This annual survey of +1,000 people active in the Fascist Police States of Amerika workforce goes back to the late 1980s, so it is a useful lens with which to consider issues like labor force participation rates that have shifted unexpectedly over the period.

Emerging market currencies tumble to record low in violent selloff!

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NEW YORK (PNN) - July 25, 2015 - Emerging-market currencies are in free fall.

An index of the major developing-nation currencies fell to an all-time low this week, extending its drop over the past year to 19%, according to data compiled by Bloomberg going back to 1999. The Russian ruble, Colombia's peso, and the Brazilian real have fallen more than 30% over the past year for some of the worst global selloffs.

Pension funds burn cities as $1 trillion shortfall set to grow!

on . Posted in Road to Depression

NEW YORK (PNN) - July 20, 2015 - The cost to Amerikan cities for their cash-strapped pension funds is starting to look a lot worse, and it’s not because the stock-market rally may be losing steam.

Houston was warned by Moody’s Investors Service this month that it may be downgraded because of mounting retirement bills, the latest municipality put on notice as the company ignores bookkeeping gimmicks that let cities mask the size of their debt for years. The approach foreshadows accounting rules for even top-rated issuers that are poised to cause pension shortfalls to swell as new financial reports are released.

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