Man
Who Executed QE1 For Fed Says Stocks May Collapse 30%
In the aftermath of the recent chaos and market
turmoil in emerging markets, today King World News spoke with the man
the Fed called on to execute QE1 and who also set up the Fed’s
massive trading room, former Fed member and former Managing Director
at Morgan Stanley, Andrew Huszar. What he had to say will stun
KWN readers around the world. He warned stocks may collapse 30%
or more in a matter of months if the Fed continues on the current
course, and he also said that the Fed is now running the largest
hedge fund in the world and it may end in disaster. Below is
what Huszard had to say in Part I of this remarkable interview.
Eric King: “Andrew, what made you come
out publicly and say that QE was a failure and apologize to
everybody? What made you come out and do that?”
World
risks era of slow growth, high unemployment: OECD
In its 2014 study on “Going for Growth”,
The Organisation for Economic Co-operation and Development said
momentum on reforms had slowed in the aftermath of the global
financial crisis, with much of it now piecemeal and incremental.
As
I Suggested Would Happen – More Homes For Sale Now
Look
out below…
from Truth
in Gold:
Inventory rose year-over-year in 22 of the
nation’s 35 largest metro areas covered by Zillow, with the largest
inventory gains coming in some of the areas that were hit hardest by
the housing recession, including Las Vegas (up 42.8 percent), Phoenix
(up 30.5 percent) and Sacramento (up 26 percent). These metros also
experienced significant cooling in the pace of home value
appreciation in January, as buyers had more homes to choose from and
were less apt to engage in the kinds of bidding wars that helped
drive prices up so quickly last year.
I have been suggesting that we would start to
see a lot more homes for sale starting in January, as home buyers who
are theoretically now even or “above water” on their mortgage
after paying too much before the bubble popped look to sell and move
on, with less debt.
The
die has been cast, and it appears that the world is finally on the
path to the great “carry-trade unwind” endgame. If so, this is
what it will look like…
Non-Existing
Home Sales Miss Expectations, Plunge 14% From Highs, Drop To 18 Month
Low
[6]
RBS to Slash 20,000 Jobs
Asia
Currencies Have Worst Week Since November on China Concern
Asian
currencies had their worst weekly loss in almost three months as
signs of a deeper economic slowdown in China and the Federal
Reserve’s support for tapering asset purchases weighed
onemerging
markets.
South
Korea’s won led the declines as a gauge of manufacturing in China,
the nation’s biggest export market, fell to a seven-month low.
Thailand’s baht was set for its steepest five-day drop of 2014 as
anti-government protests turned deadly, while violence in Ukraine
also damped sentiment. Fed policy makers backed further stimulus cuts
at their January review, the minutes of the meeting showed, a program
that drove capital into developing
countries.
“Investors
remain cautious and are concerned about downside risks coming from a
slowdown in China and political instability in Thailand, Ukraine,
Turkey and Argentina,” said Dariusz Kowalczyk, a Hong Kong-based
strategist at Credit Agricole CIB. “There are potential outflows to
Treasuries as the Fed tapering is likely to push their yields up as
well.”
Hilarious
Transcripts of Fed Minutes from 2008 Reveal Completely Clueless Fed
Today the Fed released minutes of meetings at
the start and during the great financial crisis. These minutes show
how clueless the Fed Governors were at the start of the recession.
Here
is a list of FOMC
Transcripts and Other Historical Materials, 2008
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