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Total Non-Financial Debt (NFD) expanded $879 billion during Q1 to a record $62.032 TN. NFD expanded an unprecedented $7.671 TN, or 14.1%, over the past five quarters. And with Financial Sector Debt increasing $236 billion and Foreign US borrowings gaining $95 billion, Total Debt increased $1.210 TN during the quarter to a record $84.7 TN. Total Debt...
The European Union is testing investors’ appetite to fund nearly $1 trillion of debt over five years as it seeks to finance its recovery from the coronavirus pandemic.The bloc opened books on debut 10-year bonds as part of its NextGenerationEU (NGEU) program, which will finance grants and loans to member states. European Central Bank President Christine...
Stressed companies piled on debt as interest rates plummeted, but could face a reckoning in the next economic downturn. Total debt for nonfinancial companies has reached about half the size of the U.S. economy.
The U.S. debt ceiling comes into effect at the end of July, putting pressure on the Treasury to reduce its cash balance ahead of the deadline. That means more injections of cash into a financial system already awash with liquidity, a scenario that could further sink short-term...
Jun 14, 2021 - 11:50:45 PDT
Yellen exposed to lawmakers that the US has accumulated $ 2.7 billion in “unfulfilled commitments” with institutions like the World Bank and the African Development Bank.
The survey measured mortgage applications for the week ending June 4, 2021, and showed a decrease of 3.1% on a seasonally adjusted annual basis. That’s because, while mortgage rates ended up dipping slightly, that rate change didn't occur until the end of the week. Throughout the rest of last week, mortgage rates were up, offering homeowners less incentive to refinance their home loan.
5 Reasons Why Treasury Yields Tumbled Even As Inflation Surges... And Isn't TransitoryJun 14, 2021 - 11:34:20 PDT
Just like the market strategists at Morgan Stanley and Goldman Sachs, Reid says that one of the questions he has received most from clients over the last week or so is why US Treasuries have rallied so much over recent weeks in the face of what is unambiguously higher inflation data.
The idea of universal basic income (UBI) is near the peak of the hype cycle. Democrat Andrew Yang made it the flagship issue of his presidential campaign. A small industry of advocates tirelessly push arguments in its favor. I will address two in this piece.
Jamie Dimon Says JPMorgan Is Hoarding Cash Because ‘Very Good Chance’ Inflation Is Here To StayJun 14, 2021 - 10:26:34 PDT
Dimon waded into the debate on whether higher inflation is a result of temporary aspects of the reopening or if it could be more lasting.
Amid fears of rising rents and home prices, Americans expect the inflation rate will be up to 4% one year from now and at 3.6% three years from now.
Jun 14, 2021 - 10:02:04 PDT
According to Zumper, national rent growth has accelerated to nearly 5% for 2 bedroom units. And the expected change in rent over the next 12 months is 9.5%. On the homeownership side, the two month…
Jun 14, 2021 - 09:57:19 PDT
The famous Buffett Indicator is signaling a massive stock market bubble or serious overheating. Here is your first assignment for class. Plot the Buffett Indicator (Wilshire 5000 Total Market Full Cap Index/GDP *100 against The Federal Reserve Balance sheet). It should look like the following:...
Price inflation sometimes feels like an abstract concept. But here are three ways that the surging consumer prices revealed in the latest Bureau of Labor Statistics report will hurt everyday Americans.
Coherent thinking is interested in how things are related; where they come from, where they go, and the mechanisms by which they affect each other. Incoherent thinking is a world of magic, loose theory, and superstition; where things pop into existence, vanish without a trace, and are somehow related without any need to carefully describe cause and effect.
Financial Blowout Ahead: Lobotomized Economists Clash On The Deck Of The TitanicJun 14, 2021 - 08:57:14 PDT
As the geniuses running the western financial bubble sometimes called an “economy” continue to double down on their obsession to pump a dead financial system with ever more trillions in stimulus spending, arguments are raging among brainwashed economists living in denial over the oncoming systemic collapse. The thought of engineers on the Titanic...
“The United States should not implement a [central bank digital currency] simply because we can or because others are doing so,” the American Bankers Association said in a statement to lawmakers this week. The benefits “are theoretical, difficult to measure, and may be elusive,” while the negative consequences “could be severe,” the group wrote.
Solving the jobs puzzle has been the most vexing task for policymakers in the coronavirus pandemic era, with nearly 10 million potential workers still considered unemployed even though the number of open positions available hit a record of 9.3 million in April, according to the latest data from the U.S. Labor Department.
"Contrived scarcities, in principle, could be gone tomorrow if the government’s economic policies fostering, creating and sustaining them were abolished and eliminated. The individual’s freedom of choice and action as both consumer and producer will have been more fully restored with a less...
Powell Dashboard Shows Uneven Recovery as Fed Plots Next Steps: BloombergJun 14, 2021 - 07:47:12 PDT
When Federal Reserve policy makers gather this week to discuss the U.S. economic recovery from the pandemic, they’ll see a job market that’s improving at a faster pace for some than for others.
Subprime Auto-Loan Delinquencies, Which Had Exploded, Plunged after StimmiesJun 14, 2021 - 07:39:04 PDT
Investors in subprime auto-loan Asset Backed Securities should be genuflecting in front of US taxpayers to thank them for the backdoor bailout.