By Pam Martens: February 26, 2019 ~ Congresswoman Maxine Waters Yesterday, Congresswoman Maxine Waters of California, the Chair of the House Financial Serv
— Read on wallstreetonparade.com/2019/02/memo-to-maxine-waters-wells-fargo-is-far-from-the-biggest-problem-on-wall-street/
Mad Maxine
The growth of corporate credit in China has been excessive in the last five years. This credit boom is related to a substantial increase in investment after the Great Recession.
— Read on mises.org/wire/chinese-bomb-are-we-really-threshold-another-global-financial-crisis
The debt contagion goes to China 🇨🇳
After two years of a lot of aggressive-sounding talk about reducing the Fed’s balance sheet and raising the target interest rate, the Fed in recent weeks has reversed itself, and declared that now’s a time to take things more slowly. At the January FOMC meeting, officials:
— Read on mises.org/power-market/central-banks-get-scared-forget-about-promises-reduce-balance-sheets
The entire AUSTERITY policy of Germany is really oppressing its people to the point that their assets rank nearly the lowest in Europe and below that of even Italy. A German earning just $75,000 annually ends up in the 50% tax bracket. The economics of Europe is really reducing the standard of living and this is really behind the Yellow Vest uprising. Germany has imposed its AUSTERITY economic philosophy upon the whole of Europe. This is coming to a head with the clash over the Italian budget. This May we will see major elections in Europe and there is a rising tide against austerity. We are holding our WEC in Rome this year May 3-4, because this is an EXTREMELY IMPORTANT turning point for the entire world. The stock market rally in the USA from December was driven by capital pouring into the USA as Europeans bought what the Americans were selling. While retail participation is still at 50% of 2007 levels, brokerage houses are reporting that clients have record high cash in their account post-2009. The impact of the May elections will set the tone not just for Europe, but for the entire world.
— Read on www.armstrongeconomics.com/world-news/taxes/germany-brags-it-has-record-surplus/
This is the real Merkel legacy.
“New Economic or Financial Crisis” in the Eurozone Could Start in Italy: French Government Frets | Wolf Street
— Read on wolfstreet.com/2019/02/23/new-economic-or-financial-crisis-in-the-eurozone-could-start-in-italy-french-government/
More woe in the zone.
So long as we have a business cycle, a recession is always coming. The only question is when it will strike.
— Read on www.mauldineconomics.com/frontlinethoughts/recession-are-we-there-yet
With all of the debt in the world, it is amazing that we don’t have a serious recession already.
The Last Buick – LewRockwell
— Read on www.lewrockwell.com/2019/02/eric-peters/the-last-buick/
A sad passage
Disorderly Brexit Increasingly Likely, EU Blinks on Derivatives-Clearing in London | Wolf Street
— Read on wolfstreet.com/2019/02/22/with-disorderly-brexit-increasingly-likely-eu-blinks-on-derivatives-clearing-in-london/
Divorces are expensive because they are worth it.
The US national debt has topped $22 trillion for the first time, but the debt addition under President Donald Trump is not quite historic.
— Read on www.businessinsider.com/trump-national-debt-deficit-compared-to-obama-bush-clinton-2019-2
The real issue
What the Fed Actually Said About Ending the QE Unwind | Wolf Street
— Read on wolfstreet.com/2019/02/21/what-the-fed-actually-said-about-ending-the-qe-unwind/
The latest spin
John Barleycorn 
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