In this report, I cover the early market action from London on Monday, September 23rd, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I look into what the is being said about the world economy, monetary policy and fiscal policy. It is interesting that publications that are diametrically opposed like Zero Hedge, the FT and the Bank for International Settlements are saying very similar things.
One thing that these above-mentioned institutions and publications are saying is that the people in charge of the Central Banks are basically clueless and have no idea what they are doing. The Globalist BIS and FT are therefore pushing for more interference and this time not monetary but that of the fiscal kind.
My conclusion is that unfortunately, all fiscal policy means is more debt and more crowding out of the private sector which will not help the world into a path of prosperity. The world is too far down the wrong path that was set in 2008 so absent truly meaningful monetary, banking and fiscal reforms we should not expect an easy road ahead.
"A Clueless New York Fed Is Examining Why Banks With Excess Cash Failed To Halt Repo Panic": https://www.zerohedge.com/markets/clueless-new-york-fed-examining-why-banks-excess-cash-failed-halt-repo-panic
'Vaguely Troubling': BIS Warns Of Financial Disaster Amid $17 Trillion In Negative-Yield Debt: https://www.zerohedge.com/economics/vaguely-troubling-bis-warns-financial-disaster-amid-17-trillion-negative-yield-debt
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