<![CDATA[Hedgehogs.net: '' related content]]> http://www.hedgehogs.net/tag/subprime+mortgage+crisis?view=rss http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11530395/rick-perrys-wall-street-reform-plan-is-a-good-step-for-2016-candidates Sun, 02 Aug 2015 22:20:43 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11530395/rick-perrys-wall-street-reform-plan-is-a-good-step-for-2016-candidates <![CDATA[Rick Perry's Wall Street reform plan is a good step for 2016 candidates]]> Rick Perry


http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11530341/fed-staff-accidentally-posts-bearish-economic-forecast-and-prediction-inflation-would-not-hit-2-by-2020-upset-over-leaks-why Sun, 02 Aug 2015 09:49:47 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11530341/fed-staff-accidentally-posts-bearish-economic-forecast-and-prediction-inflation-would-not-hit-2-by-2020-upset-over-leaks-why <![CDATA[Fed Staff Accidentally Posts Bearish Economic Forecast and Prediction Inflation Would Not Hit 2% by 2020; Upset Over Leaks? Why?]]>
Please consider Fed Inadvertently Publishes Staff Forecast for 2015 Rate Hike.
Staff economists at the Federal Reserve expect a quarter-point U.S. interest rate increase this year, according to forecasts the Fed mistakenly published on its website in a gaffe that drew criticism about its ability to keep secrets.

Federal prosecutors are currently probing an alleged leak at the Fed of market-sensitive information to a private financial newsletter in 2012.

"It regrettably appears once again that proper internal controls are not in place to safeguard confidential Federal Reserve information," said Representative Jeb Hensarling of Texas, a Republican who chairs the House Financial Services Committee and is pressing Fed Chair Janet Yellen for documents regarding the 2012 leak.

The Fed said in a statement that the forecasts were "inadvertently" included in a computer file posted to its website on June 29.

Fed officials said the disclosure was due to procedural errors at a staff level and that the mistake was discovered on Tuesday this week. The matter has been referred to the Fed's inspector general.

"It is baffling that these leaks continue to occur," said Congressman Randy Neugebauer, a Texas Republican who chairs the House subcommittee on financial institutions and consumer credit.
Unintentional Projections

  1. One hike in 2015: The staff expected policymakers would raise their benchmark interest rate, known as the Fed funds rate, enough for it to average 0.35 percent in the fourth quarter of 2015. That implies one quarter-point hike this year, as the Fed funds rate is currently hovering around 0.13 percent.
  2. Inflation: the staff did not expect inflation to ever reach the Fed's 2.0 percent target. By the fourth quarter of 2020, they saw the PCE (personal consumption expenditure) inflation index rising 1.97 percent from a year earlier.
  3. Growth: The Fed's staff also took a dimmer view of long-run economic growth, expecting gross domestic product to expand 1.73 percent in the year through the fourth quarter of 2020. The views of Fed policymakers for long-term growth range from 1.8 percent to 2.5 percent.

Upset Over Leaks - Why?

Congress is upset over leaks. Is that what people should really be upset over?

Why? We should be happy to have a glimpse of what this secret sect thinks, discusses, and wants to hide vs. the spoon-fed crap they want us to hear.

What To Be Upset Over

  • I propose people should be upset at a group of clowns who actually believe they can steer the economy like a truck, when it's obvious they cannot.
  • We should also be upset because the documents suggest that Fed official statements are nothing but souped-up nonsense to appease the financial markets and Fed egos about what they don't know but pretend to. 

History Lesson

History proves that the Fed produces bubbles and busts of increasing amplitude over time, to the detriment of the middle class.

Indeed, the Fed, along with public unions and corrupt politicians are the very sponsors of the income inequality that Janet Yellen, the unions, and politicians rail against.

It's amusing what the Fed staffers came up with. Fed officials say it's not what they believe. Does the denial ring true? Not to me. But it doesn't really matter. 

The fact of the matter is the Fed and central banks in general have no idea where interest rates should be, what the money supply should be, what unemployment should be, how many cars should be produced, how many houses should be built, or what the price of assets should be.

A group of clowns sitting in a room cannot possibly decide these things. And in attempting to do so, they send out all sorts of false economic signals about demand, creating bubbles in the wake. The housing boom-bust is a perfect example. Right up until the housing bust, it actually appeared as if there was a housing shortage. The same thing happened outside the US.

Increasing Interference

Central banks worldwide have long distorted markets with government bond price manipulation.

Now, central banks in Asia and Europe stretched the bounds by investing in corporate bonds and equities.

We can say for certain these preposterous manipulative efforts will blow sky high. What we cannot state is when. Nor can we say how much additional damage these central bank manipulators cause in the meantime.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com ]]>
http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11529615/goldman-tentatively-agrees-to-pay-270-mln-to-settle-lawsuit-source Sat, 01 Aug 2015 23:49:42 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11529615/goldman-tentatively-agrees-to-pay-270-mln-to-settle-lawsuit-source <![CDATA[Goldman tentatively agrees to pay $270 mln to settle lawsuit -source]]>

http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11529427/india-says-staterun-banks-need-28-billion-capital-over-four-years Sat, 01 Aug 2015 22:01:54 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11529427/india-says-staterun-banks-need-28-billion-capital-over-four-years <![CDATA[India says state-run banks need $28 billion capital over four years]]>

http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11529072/european-leveraged-finance-falls-amid-deal-dearth Sat, 01 Aug 2015 18:20:39 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11529072/european-leveraged-finance-falls-amid-deal-dearth <![CDATA[European Leveraged Finance Falls Amid Deal Dearth]]> 11529072 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11528879/goldman-tentatively-agrees-to-pay-270-million-to-settle-lawsuit-source Sat, 01 Aug 2015 17:22:01 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11528879/goldman-tentatively-agrees-to-pay-270-million-to-settle-lawsuit-source <![CDATA[Goldman tentatively agrees to pay $270 million to settle lawsuit: source]]>
http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11528018/goldman-sachs-mlp-income-opportunities-fund-announces-new-leverage-financing Thu, 30 Jul 2015 18:35:03 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11528018/goldman-sachs-mlp-income-opportunities-fund-announces-new-leverage-financing <![CDATA[Goldman Sachs MLP Income Opportunities Fund Announces New Leverage Financing]]> Under the current terms of the Margin Loan Facility, the Fund will be ... Scotiabank will charge the Fund the cost of Scotiabank's interest rate hedge, which is ... The Fund is managed by Goldman Sachs Asset Management's (GSAM's) ...

http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11527825/global-bank-lending-surges-in-q1-china-sees-fall-bis Sat, 25 Jul 2015 22:22:28 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11527825/global-bank-lending-surges-in-q1-china-sees-fall-bis <![CDATA[Global bank lending surges in Q1, China sees fall - BIS]]>     Global cross-border lending continued to expand in the first quarter of 2015, propelled by a surge in lending to the euro area, while credit to emerging markets, such as China and Russia, fell for the second consecutive quarter, according to the Bank for International Settlements (BIS).
    International lending by major international banks to non-banks and other banks rocketed by an estimated $755 billion from January through March this year from end-December compared with an increase of only $16 billion in the final quarter of 2014
    The rise in global lending in the first three months of this year amounts to more than half of the entire increase of $1.457 trillion seen in 2014. After contracting by $1.148 trillion in 2013, global cross-border lending has been expanding since the second quarter of 2014.
    As in the fourth quarter of last year, major international banks have been extending increasing amount of credit to advanced economies, such as Germany, while lending to emerging economies, especially China, has been slowing.
    According to preliminary data, Swiss-based BIS said first quarter lending to advanced economies grew by $743 billion while lending to emerging economies shrank by $50 billion.
    Lending to borrowers in euros jumped by $528 billion, for annual growth of euro-denominated claims to 9 percent, said BIS, which collects international banking data worldwide.
    In contrast, global claims in U.S. dollars only rose by $58 billion as a $95 billion decline in loans was offset by a $156 billion rise in U.S. debt securities.
    Cross-border lending to borrowers in the 19-nation euro area rose by $406 billion in the first quarter, the highest rise seen since the first quarter of 2008. Claims on Germany rose by $153 billion while France also saw a significant rise of $120 billion while lending to Spain, Italy, Ireland and Portugal was largely unchanged.
    Reflecting the deep crises in Greece, global banks cut their lending by a further $22 billion in the first quarter, leading to a 28 percent fall on an annual basis. Based on an ultimate risk basis, the outstanding stock of foreign claims on Greek banks amounted to only $2.2 billion at the end of March compared with a recent peak of $31 billion at the end of June 2014.
    Continuing the trend seen in recent quarters, global lending to China continued to drop in the first quarter. Lending fell by $56 billion, driven by a $64 billion decline in credit to China's banks. This brought the outstanding stock of global claims on China to $963 billion by the end-March.
    After falling in the fourth quarter of last year, lending to several other emerging economies in Asia rose in the first quarter. Global lending to India rose by $8 billion and to Korea by $3 billion.
    Lending to emerging Europe continued to decline, albeit at a more moderate pace than in the previous quarter, BIS said.
    International claims on Russia dropped by a further $14 billion, following a $19 billion fall in the fourth quarter, but in contrast lending to Hungary and the Czech Republic picked up slightly and credit to Turkey expanded by $4 billion, boosting the annual growth rate to 9 percent.
    The recent trend toward increased lending to non-banks also continued in the first three months, with cross-border lending to non-banks accounting for more than three-quarters of the total increase. Lending to non-banks was up by $569 billion in the first quarter compared with a $186 billion increase in lending to banks.
    In 2014 international bank lending to non-banks rose by $868 billion while lending to other banks rose by $590 billion.

   Click to read "BIS international banking statistics at end-March 2015."


http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11527651/fhfa-house-price-index-rose-04-in-may Sat, 25 Jul 2015 17:10:12 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11527651/fhfa-house-price-index-rose-04-in-may <![CDATA[FHFA House Price Index Rose 0.4% in May]]> The Federal Housing Finance Agency (FHFA) has released the U.S. House Price Index (HPI) for the most recent month. U.S. house prices rose in May, up 0.4 percent on a seasonally adjusted basis from the previous month. Year-over-year the index is up 5.7% (nonseasonally adjusted). Investing.com had forecast a 0.5 percent MoM increase.


http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11527327/goldman-sachs-ept-form-85-eptri Sat, 25 Jul 2015 00:11:00 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11527327/goldman-sachs-ept-form-85-eptri <![CDATA[Goldman Sachs (EPT) - Form 8.5 (EPT/RI)]]> 11527327