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The resulting erosion of collateral will collapse the global credit bubble, a repricing/reset that will bankrupt the global economy and financial system.
Mar 27, 2023 - 12:03:21 PDT
On Sunday, Financial Times reporters Brooke Masters, Harriet Clarfelt and Kate Duguid published an article under the headline: “Money market funds swell by more than $286bn as investors pull deposits from banks.”
There are multiple threats to the financial system that are currently in play, and one of the biggest is the risk of a Eurodollar crisis or collapse. The world had two close calls...
"M2 in 2020 and 2021 increased by the largest percentages in the last 60 years. To the surprise of the Federal Reserve (although not everyone), inflation resulted." ~ John Devereux & Gerald P. Dwyer
World Bank Warns of ‘Lost Decade’ in Global Growth Without Bold Policy ShiftsMar 27, 2023 - 11:29:05 PDT
Average potential global economic growth will slump to a three-decade low of 2.2% per year through 2030, ushering in a "lost decade" for the world's economy, unless policymakers adopt ambitious initiatives to boost labor supply, productivity and investment, the World Bank warned on Monday.
Airports and bus and train stations across Germany were at a standstill on Monday, causing disruption for millions of people during one of the largest walkouts in decades in Europe's biggest economy as soaring inflation stokes wage demands.
First Citizens BancShares Inc. agreed to buy Silicon Valley Bank after a run on deposits wiped out the company in the biggest US bank failure in more than a decade.
Global central banks from the US to the euro zone should jointly commit to avoid further interest-rate hikes until market stability has been assured, UniCredit economist Erik Nielsen wrote on Sunday.
President Biden's Fiscal Year 2024 Budget has proposed a series of major tax increases, totaling nearly $4.7 trillion, aimed at businesses and high-income individuals. These proposals include higher marginal tax rates on corporate, individual, and capital gains income; a new minimum tax on high-net-worth individuals; and increases to Medicare taxes.
As traders rush to identify where the next bout of volatility will come from, some watchdogs think the answer may be buried in the huge pile of hidden leverage that’s been quietly built over the past decade.
Why haven’t banks raised their rates on customer deposits with interest rates rising? What does this imply for the broader banking system
The Fed Should Be Fired as Bank Regulator. Powell’s Discussion of Silicon Valley Bank & Regulatory Failure Shows WhyMar 27, 2023 - 07:45:55 PDT
The Fed is structurally too conflicted to regulate banks. The FDIC is not, but it needs tiger teeth to bite CEOs’ heads off.
The Fed’s rate hikes and QT didn’t break anything except consensual hallucination.
FDIC Sells Much of Silicon Valley Bank to First-Citizens Bank. Total Cost of SVB Collapse to Deposit Insurance Fund: $20 BnMar 27, 2023 - 07:44:41 PDT
Even collapsed banks have lots of assets that the FDIC sells to cover the costs to the Fund. Signature Bank collapse costs the Fund only $2.5 billion
"Stagflation Is Upon Us" - Dallas Fed Manufacturing Survey Contracts For 11th Straight MonthMar 27, 2023 - 07:43:48 PDT
For the 11th month in a row, The Dallas Fed Manufacturing Outlook survey printed negative (signaling contraction) in March, dropping to -15.7 (from -13.5), significantly below the -10.0 expected bounce.
On March 8, Silicon Valley Bank and Signature Bank were both, according to public disclosures, “well capitalized,” the optimal level of health by federal regulatory standards. Days later, both failed.
Mar 27, 2023 - 07:39:39 PDT
Freddie King said it best. We’re going down. At least the commercial real estate market. As The Fed raises rates to combat inflation, we are witnessing a serious decline in Markit’s CMB…
Mar 27, 2023 - 07:37:53 PDT
The US economy got beaten to a pulp by the Chinese Wuhan Covid virus outbreak in early 2020. The Fed intervened with massive money printing along with massive spending by Congress and the Administr…
Mar 27, 2023 - 07:36:25 PDT
Are central banks like The Federal Reserve and European Central Bank ({ECB) sinking the banks? Deutsche Bank, Germany’s largest bank (eerily like Germany’s World War II battleship The B…
The Federal Reserve raised their target rate just once under President Obama until Donald Trump was elected. Then raised their target rate 8 times AFTER Trump was elected. In other words, Bernanke/…