Off The Cuff: No More Financial Crises “In Our Lifetime”

In this week's Off The Cuff podcast, Chris discusses:

• Market Jitters
  • What will happen if the central banks turn off the money?
• No More Financial Crises "In Our Lifetime"
  • Did Janet Yellen really just say that???
• Our States Are Falling Into Bankruptcy…
  • Illinois, Connecticut, Maine & more
• …While The Banks Get Fatter
  • Income from excess reserves to rise to $50 Trillion by 2019

This week, Chris takes a moment to share his thoughts in depth on where we are in the global debt saga. The overhang is getting worse, growth is not riding to the rescue as hoped, and the central banks are running out of both smoke and mirrors to keep the game continuing. Should the $200 billion monthly bonanza of central bank liquidity start decreasing — as is now being increasingly discussed — expect markets to go south quickly:

Our view at Peak Prosperity is simply this – that without $200 billion a month (a month!) going in to the financial markets — they would fall apart. And the central banks know this. They’ve been terrified of any market jitters. They're terrified of sniffles, wheezes, minor rashes, anything that would look like a downturn starting. They’ve been fighting tooth and nail because they know that what they’ve created are Frankenstein markets. These things are absolutely dependent on continued stimulus by the central banks.