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It’s 9.03am as your editor begins writing today’s Money Morning. The US market closed down nearly 2%. While major European indices closed down over 2%. In China the CSI 300 index dropped 4.21%. And the futures prices have the Aussie market opening lower by around 70 points. If it does, that would take the index [...]

Why this really isn’t the early ’80s recession replayed… WHATEVER the problem is, a lack of money it ain’t. Just so we’re clear. Quite how more money might help, therefore, we can’t say. Still, that won’t stop the world’s No.1 central bank from creating yet more of the stuff. Not according to Ben Bernanke last [...]

We’ll stay on the theme of Japan for today. And we may even stay on a similar subject for tomorrow after we heard this quote, “All the signs look like we’re [the US] going to follow the Japanese scenario.”
But more on that – perhaps – tomorrow.
Until then, we had to laugh. Yesterday’s Wall [...]

Having read through US Federal Reserve chairman Ben Bernanke’s speech at Jackson Hole, Wyoming over the weekend we can only come to two conclusions.
Either Mr. Bernanke is stark raving mad and should be sent to a nut farm immediately. Or, he should be carted off to The Hague to face charges of crimes against [...]

Knowing how governments will respond to deflation, the case for inflation-proof gold looks increasingly clear to cautious wealth…
USELESS for pretty much everything except storing wealth (its economic value is social, not industrial), gold acts as inflation-proof money when investors need it most – right in the middle of an asset-price deflation.
At least, that’s how people [...]

How long will people choose to hold any wealth in cash given it’s losing value thanks to negative real rates of interest…?
PEOPLE don’t always do what policy-makers expect or demand of them. And a good job, too.

“The household saving rate is likely to rise,” said Bank of England governor Mervyn King in May 2008 – [...]

This morning we’re still chuckling away at Christopher Joye’s ‘revelation’ about the stock market being risky – 11.6 times riskier than cash apparently. Bless him.
We’re looking forward to his next bombshell. Maybe he’ll reveal to the world that water is wet! What? It is? [Shae, quick, get Einstein, Newton and [...]

Well, this is a pretty pass. Deflation in all things except inflation…
THEY WERE SUPPOSED to avert depression. The Bank of England continues to tout their “success”.
But it looks like the best that money-printing and zero rates might now deliver is ’70s-style stagflation, plus ’30s-style wealth destruction and a glacé cherry on top.
Giving Britain its “stag” [...]