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Latest Insight & Opinion

The zero rate trap – The Economist 09-18-15

Salient to Investors: No Fed tightening was a sensible decision. The Fed is in a trap: low interest rates have raised global equity markets, whose collapse in August helped in preventing the Fed from raising rates. Most British homeowners have variable rate mortgages so while interest rate cuts staved off a potential

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Three economic crises, cutting rates and banning cash – The Economist 09-18-15

Salient to Investors: Andy Haldane at the Bank of England said: Inflationary reputation is hard-earned and easily lost central bank promises to re-anchoring the rate at some future point is damaging to macro-economic stability. Further QE, especially making it permanent, risks blurring the boundary between monetary and fiscal policy and hurts central

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US central bank leaves interest rates unchanged – BBC News 09-17-15

Salient to Investors: The Fed’s forecast for slow rate increases probably means 0.25% in 2015, 1% in 2016, and 1.25% in 2017. Karissa McDonough at People’s United Wealth Mgmt said economic uncertainty and the slowdown in China drove the Fed’s decision to keep rates at zero, because the US has been linked globally

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Inflation Targeting Unmasked – The August CPI Crushed The Case For ZIRP – David Stockman’s Contra Corner 09-17-15

Salient to Investors: David Stockman writes: The August CPI gives the Fed an excuse to keep shoveling free money into the casino. No Fed rate increase would be a clear indication of its fear of reining in Wall Street’s greedy and gamblers and that Keynesian central banking in the last two decades

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David Stockman Interview On Yahoo – The Fed Painted Itself Into A Corner, Confidence In The Casino Is Headed For A Fall – David Stockman’s Contra Corner 09-17-15

Salient to Investors: David Stockman said: The Fed is on a jihad against retirees and savers. 80 months of ZIRP has not helped the economy because we are at peak debt, with US business $12 trillion in debt, versus $10 trillion before the crisis. The massive money printing has all

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The Truly Stupid Case For More ZIRP – David Stockman’s Contra Corner 09-16-15

Salient to Investors: David Stockman writes: The global economy is transitioning into a deep deflation. Irving Kellner erroneously recommends the Fed delay its rate hike for reasons including the recent plunge in stock prices, the market’s dislike of an end to the easy money which has kept it afloat, and because all

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Macquarie: Emerging Markets Are Not Facing a 1997-Style Crisis—They’re Facing Something Worse – Bloomberg Business 09-16-15

Salient to Investors: Viktor Shvets and Chetan Seth at Macquarie said: Emerging markets and economies are in a worse situation than in the 1997 Asian financial crisis because they now face far longer, more painful and insidious disease with limited or no cures or exits, punctuated by occasional significant flare-ups. The effect

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Fareed Zakaria GPS – CNN 09-13-15

Salient to Investors: Fareed Zakaria said: China’s economy is nearly 2.5 times that of Japan so even if growth slows substantially, China will continue to have seismic effects on the global economy. Henry Kissinger said Republican candidate China-bashing is dangerous and could create an atmosphere a la Europe before WW

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Why The Keynesian Chorus Is Cackling Like Chicken Little – David Stockman’s Contra Corner 09-09-15

Salient to Investors: David Stockman writes: Artificial monetary bubbles always crash. However, if the Fed listens to Wall Street and does not raise interest rates expect a short-lived run to the May 2015 highs before the ultimate day of reckoning. ZIRP has not caused a credit fueled inflation of either the

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Petrostate Cash Crunch Continues Amid Oil Collapse, Proxy Wars – Zero Hedge 09-07-15

Salient to Investors: Tyler Durden writes: ZIRP has allowed insolvent US oil producers to stay in business and help keep oil prices low, and now Saudi Arabia and Qatar are also tapping the credit markets. Saudi Arabia needs crude at $100 to finance their budget deficit estimated to be 20%

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