Tom Spencer

MAY 2, 2020

Since the start of February this year, the Fed has expanded its balance sheet by more than $2.4 To put that in context, the Fed was created in 1913, and its total balance sheet assets only reached $2.4 trillion in assets, but only 2 months to achieve the same amount of balance sheet expansion this year.

Balance Sheet 88

Balance Sheet Government System Finance 88

MishTalk

NOVEMBER 20, 2013

Banks; Global Financial System is Bankrupt. Addendum: Société Générale disputes the numbers and new calculations using the banks'' numbers are 28:1 or perhaps 23:1 not 50:1 as noted on Forex Crunch. Banks do not plunge out of the blue on rumors. French Banking Primer. trillion balance sheet is leveraged nearly 49-to-1.

Balance Sheet 78

Balance Sheet Banking Financial Finance 78

MishTalk

OCTOBER 26, 2014

In an effort to fool the public into believing the latest round of bank stress tests were actually designed to find stress, the ECB found 25 scapegoats, none of which were German banks. Reuters reports ECB Fails 25 Banks in Health Check but Problems Largely Solved. The 130 banks account for 81.6

Balance Sheet 75

Balance Sheet Banking Exercises Report 75

Tom Spencer

NOVEMBER 27, 2011

IN OCTOBER 2011, private banks accepted a 50% writedown on Greek debt. Over the last few decades, countless risky financial products were sold to investors using harmless sounding terms like “credit default swap”, “mortgage backed security”, “special purpose vehicle” and “off-balance sheet financing”. in Economics.

Balance Sheet 89

Balance Sheet Consulting Case Interview Financial 89

MishTalk

APRIL 7, 2014

In lengthy negotiations last month the EU reached a deal on how to handle failed banks. Please consider EU Deal on Bank Failures Risks Unravelling A landmark EU agreement on a common rulebook for handling bank failures is in danger of unravelling over the fine print restricting when a state can intervene to rescue a struggling bank.

Banking 69

Banking Balance Sheet Finance Government 69

MishTalk

DECEMBER 26, 2014

Next year will be a very important year for China because possible strains in the banking system and the intensity with which the reformers present their case will give us a better sense both of how much debt capacity the country retains and of how well positioned Xi Jinping and his allies are to implement the needed reforms.

Banking 71

Banking System Benchmarking Finance 71

MishTalk

DECEMBER 4, 2013

Finance reports Government About to Destroy American Mortgages Permanently. Bove, one of the most widely-respected banking analysts in the world, is certain that will have devastating consequences for housing and the rest of the American economy. "The Citing Dick Bove, Yahoo!Finance And we won''t have fixed-rate mortgages."

Government 73

Government Balance Sheet Real Estate Banking 73

MishTalk

SEPTEMBER 23, 2013

I received several emails regarding my post on Risk-Free Banking and Fractional Reserve Lending that I would like to share. When I began investing, one looked at the real property on balance sheets. Indeed, as it stands banks are always bailed out at taxpayer expense, the very epitome of "moral hazard". Hello Mish.

Banking 62

Banking Balance Sheet Policies Travel 62

MishTalk

AUGUST 6, 2013

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. Reader Question: Does the Fed Balance Sheet Properly Reflect QE Announcements? The feds balance sheet doesnt reflect it. Feds Balance Sheet. Home Builders.

Balance Sheet 64

Balance Sheet Analysis Trends Real Estate 64

MishTalk

JANUARY 26, 2014

Now the governments of both Venezuela and Argentina have reacted – the former by introducing a ''second bolivar exchange rate'' for certain types of exchanges, the latter by stopping to defend the peso''s value in the markets by means of central bank interventions. for the next two largest (Dutch and UK banks).

Balance Sheet 78

Balance Sheet Banking Tourism Sports 78

Tom Spencer

AUGUST 25, 2018

By distributing 100 million sesterces from the imperial bank to reliable bankers around the Empire and dropping interest rates to zero for three years, Tiberius saved Rome and the other affected nations of Egypt, Greece, and France. In the face of illiquidity a bank cannot repay current liabilities or their depositholders.

Financial 60

Financial Balance Sheet Banking Policies 60

Harvard Business

JULY 12, 2017

In effect, they all had skin in the game, which remains one of the most elusive elements of modern finance. While the large banks are at the center of this trust vacuum — with a seemingly steady stream of scandals, such as the recent Wells Fargo account rigging debacle — the erosion of trust is bad for everyone.

Insurance 131

Insurance Insurance Industry Balance Sheet 131

MishTalk

JULY 11, 2014

The question stems from lengthy (256 page PDF) from the BIS Annual Report (Bank for International Settlements) that stated among other things " The only source of lasting prosperity is a stronger supply side. Never before have central banks tried to push so hard. It is essential to move away from debt as the main engine of growth. "

Balance Sheet 73

Balance Sheet Financial Banking Policies 73

Harvard Business

OCTOBER 20, 2016

Meanwhile the Institute of International Finance forecasted net capital flows for emerging markets in 2015 would be negative for the first time since 1988. While international lending, as measured by cross-border banking claims at the Bank for International Settlements, has declined $2.6

Balance Sheet 70

Balance Sheet Policies Banking Operations 70

Tom Spencer

NOVEMBER 17, 2018

Many an economics and finance course later, I see that the layers of complexities to the 2008 financial crisis are innumerable. This is because the initial trigger for the crisis was reliance by major banks, particularly those in the United States, on mortgage backed securities as collateral. It all seemed so clear.

Financial 60

Financial Banking Balance Sheet Cash Flow 60

MishTalk

DECEMBER 26, 2013

China''s Move to Market-Set Rates Let''s step back to December 8 and look at China Relaxes Grip on Interest Rates China is relaxing its grip on interest rates with the launch of a financial instrument that allows banks to trade deposits with each other at market-determined prices.

Balance Sheet 63

Balance Sheet Marketing Banking Financial 63

MishTalk

JANUARY 28, 2014

On January 15, Reuters reported China''s ICBC says won''t compensate investors in troubled shadow bank product. Industrial and Commercial Bank of China, the world''s largest bank by assets, said on Thursday that it has no plans to use its own money to repay investors in a troubled off-balance-sheet investment product that it helped to market."

Banking 71

Banking Balance Sheet Productivity Financial 71

Tom Spencer

MAY 9, 2020

In this short article, we will provide a brief history of today’s global monetary system, explain why central banks aim to produce consumer price inflation, and consider some of the potential consequences. According to the IMF , the US dollar accounts for more than 60% of central bank foreign exchange reserves, worth more than $6.7

System 88

System Banking Government Insurance 88

MishTalk

JUNE 26, 2013

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. Bernanke says the US economy is solid enough that the Fed can begin tapering its balance sheet purchases later this year. Bank Lending, Jobs, The Great Retrace. Home Builders.

Balance Sheet 66

Balance Sheet Real Estate Financial Case Interview 66

MishTalk

MARCH 1, 2015

This entire notion that you can take bad assets from a bank and put them in a "bad bank" to make everything well, is ridiculous. The step, allowed by new legislation that gives banking supervisors more power to intervene, followed an outside audit of Heta''s balance sheet that exposed a capital hole of up to 7.6

Banking 28

Banking Balance Sheet Finance Construction 28

MishTalk

SEPTEMBER 8, 2017

Federal Reserve Bank of New York President William Dudley said back-to-back hurricanes in the third quarter could temporarily influence the timing of the next interest-rate increase, although above-trend growth does warrant continued gradual rate hikes. trillion balance sheet at its Sept. Dudley is clueless at best.

Balance Sheet 43

Balance Sheet Trends Retail Finance 43

MishTalk

SEPTEMBER 26, 2013

The South China Post reports US meltdown shadow looms large over China but observers believe Beijing could use its massive foreign reserves to save financial system if shadow banking activity spirals out of control. I do not see the risk of a big bank failure in China.". It is more liquidity risk rather than credit risk.

Real Estate 61

Real Estate Banking Government Balance Sheet 61

MishTalk

DECEMBER 9, 2013

It does not need to borrow money from foreign countries to finance its ongoing deficit (because there is no deficit). The key point is that as long as Greece runs a current account surplus, it can finance its way via taxation, without further Troika meddling. In essence, they bailed out banks and put taxpayers at risk.

Balance Sheet 76

Balance Sheet Financial Government Finance 76

MishTalk

JUNE 27, 2013

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. His comments came in before China intervened to quiet the markets as noted in China Acts to Calm Markets; Stock Market Rebounds From 6% Plunge After Central Bank Pledges More Liquidity; Wet Nurse Action.

Analysis 68

Analysis Trends Real Estate Banking 68

Harvard Business

APRIL 14, 2016

These so-called “stranded assets,” sitting on petro-company balance sheets, are essentially worthless. And the numbers these banks and academics are coming up with certainly help stir the souls (or wallets) of the investor community. And thus those companies are massively overvalued.

Data 70

Data Balance Sheet Real Estate Study 70

Harvard Business

JANUARY 24, 2017

Through a coordinated, systemic, prolonged intervention with dozens of institutions and thousands of individual participants, new growth of the local companies we trained has directly created over 1033 jobs, fueled by dozens of new private sector financings. strategic hires). day, scale-focused workshops and related activities.

Training 70

Training Training Banking Balance Sheet 70

MishTalk

JUNE 28, 2013

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. The dismal forecast has some bracing for another taxpayer-financed bailout. Bank Lending, Jobs, The Great Retrace. Patrick Housing Crash News Top Housing and Commercial Real Estate News.

Analysis 73

Analysis Trends Real Estate Case Interview 73

Tom Spencer

JULY 25, 2021

Corporate finance academics argue that firms should act to maximise shareholder value, since shareholders are the owners of the firm. For example, bullion banks like JPMorganChase have suppressed the price of gold for decades by selling naked shorts in the Comex gold futures market. Profit maximisation.

Productivity 97

Productivity Balance Sheet Marketing Government 97

MishTalk

JANUARY 25, 2015

A finance ministry official confirmed on Friday that state revenues had collapsed this month. Voting by Feet (Bank Accounts) ZeroHedge reports Greek Deposit Outflows Soar In Run-Up To Syriza Victory. Purchases of offshore money funds, one way for Greeks to invest their withdrawn bank deposits, spiked to very high levels this week.

Banking 28

Banking Balance Sheet Journal Report 28

MishTalk

JUNE 30, 2013

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. And the recent cash crunch in the interbank market is likely to slow expansion of off-balance sheet lending, further exacerbating funding conditions for SMEs. Home Builders.

Analysis 70

Analysis Trends Real Estate Financial 70

MishTalk

MARCH 17, 2014

This model rests on an understanding of how distortions in the savings rates of different countries have driven the great trade and balance-sheet distortions with which we are wrestling today, just as they have in most previous global crises, including those of the 1870s, the 1930s, and the 1970s.

Banking 64

Banking Real Estate Productivity Policies 64

MishTalk

JULY 2, 2013

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. There exists no back-test for the current era of finance. Bank Lending, Jobs, The Great Retrace. Patrick Housing Crash News Top Housing and Commercial Real Estate News. Home Builders.

Trends 61

Trends Analysis Real Estate Financial 61

MishTalk

NOVEMBER 20, 2015

The SEP reports the central tendency and range for real GDP growth forecasts from the Federal Reserve Board members and Federal Reserve Bank presidents. 2014) finds that one-year-ahead growth forecasts from the Federal Reserve Bank of New York and the European Central Bank from 2008 to 2012 exhibited substantial overoptimism, averaging 1.6

Balance Sheet 28

Balance Sheet Banking Study Policies 28

MishTalk

JULY 7, 2015

Two Rules Every bubble eventually bursts The bigger the bubble the bigger the bust Central banks globally have blown the biggest bubble ever in the wake of the 2008 crash. Over the weekend, the People’s Bank of China announced a plan to inject funds into a state-owned entity that lends to brokerage firms. Two Questions How fast?

Real Estate 28

Real Estate Banking Government Balance Sheet 28

MishTalk

JULY 10, 2013

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. Participants also described their views regarding the appropriate path of the Federal Reserves balance sheet. Bank Lending, Jobs, The Great Retrace. Home Builders. Recommended Books.

Real Estate 56

Real Estate Financial Policies Case Interview 56

MishTalk

APRIL 1, 2015

Chicago finances are even worse than I thought which is saying quite a bit because I have written about the sorry state of Chicago finances on numerous occasion. Many of these uses of bond proceeds are not eligible for tax-exempt financing under the federal tax code." Not just financed, but financed with long-term debt.

Financial 28

Financial Engineering Finance Government 28

MishTalk

JUNE 26, 2015

BitGold just completed a financing for C$18 million, which included some top name institutional investors. After this financing, BitGold’s two main owners are the shareholders of GoldMoney and Roy Sebag, whose understanding of gold is as deep as anyone I have ever met. In contrast, GoldMoney and BitGold are debt-free.

Insurance 28

Insurance Insurance Balance Sheet Financial 28