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Rabobank: "The Fed Is In A Fantastic Position Where The More It Fails, The More It Is Needed"Jan 15, 2021 - 06:42:14 PST
The Fed’s Powell made it clear yesterday: “Now is not the time to be talking about exit. I think that another lesson of the global financial crisis is be careful, not to exit too early.” Folks, that is the *only* lesson the Establishment has learned from the GFC: like it is always “more cowbell”, it is always more central bank regardless of the song being played.
Four Things That Could Pop the ‘Rational Bubble’ in Equities: Mohamed El-ErianJan 15, 2021 - 05:49:37 PST
There could be “some sort of market accident. We are seeing a lot of risk taking,” El-Erian pointed out. This harkens back to the crash of 1999, when valuations of tech startups soared, then crashed, as investors were willing to pay elevated prices for future estimated growth.
While some states have seen unemployment applications recede from record highs after the coronavirus pandemic first roiled America’s employment picture, others have suffered stubbornly high job losses months into the recovery.
US Retail Sales Tumble For 3rd Straight Month On Slump In Restaurant & Online SpendingJan 15, 2021 - 05:40:27 PST
The biggest headline under the surface is the fact that non-store retailers (Amazon etc.) plunged 5.8% MoM. And while motor vehicles sales rose 1.9%, the lockdowns sent Food Services & Drinking Places sales down 4.5% MoM...
Nine months ago, the coronavirus pandemic upended the economy, swiftly pushing millions into joblessness. Financial plight has been growing steadily since the summer as Americans await further relief from Congress.
Jan 15, 2021 - 05:31:00 PST
As the pandemic raged in 2020, the Internal Revenue Service stumbled, according to a new watchdog report, resulting in underpayments of stimulus checks, delayed tax refunds, and other missteps.
Biden Calls for $30 Billion More in Rental Assistance and Extending Eviction BanJan 15, 2021 - 05:27:43 PST
President-elect Joe Biden called on Congress to pass a range of protections and financial relief for Americans at risk of eviction or foreclosure.
JPMorgan Beats Profit Estimates on Better-than-Expected Credit, Record Trading RevenueJan 15, 2021 - 05:22:41 PST
The bank released $2.9 billion from its pile of cash set aside for expected loan defaults in the quarter, resulting in a $1.9 billion boost after about $1 billion in charge-offs
The President-Elect’s Spending Plan Could Lead to an Event Like the 1929 Stock Market CrashJan 15, 2021 - 05:16:10 PST
David Neuhauser, of small, Chicago-based hedge fund Livermore Partners, said that Biden's spending plan appeared to be an attempt to mimic the "roaring 20's."
The U.S. is recording at least 238,800 new Covid-19 cases and at least 3,310 virus-related deaths each day, based on a seven-day average of JHU data.
Nothing happens in a vacuum. There is a reason why cryptocurrencies have been developed and why they are attracting capital right now. In the second part of our series, we look at the role of central banks, governments, and regulators in producing the current insanity in the world markets.
Gold outperformed major assets in 2020. We believe gold investment will remain well supported while gold consumption should benefit from the nascent economic recovery, especially in emerging markets.
No one ever talks about the risk that gold could go to zero — because it can’t
“A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information and market manipulation.
Biden Stimulus Plan Leaks: Will Total $1.9 Trillion, Includes $1,400 Stimmy CheckJan 14, 2021 - 12:47:03 PST
It may not be quite $2 trillion as CNN leaked last night, quoting "one lawmaker" in close contact with the Biden team who said it was "taking a shoot for the moon" approach with the package", but it's close.
With the Q3 GDP Third Estimate and the December close data, we now have an updated look at the popular "Buffett Indicator" -- the ratio of corporate equities to GDP. The current reading is 176.6%, down from 174.3% the previous quarter.
In his forecast for 2021, Jeffrey Gundlach predicted a “regime change.” Investors should prepare for themes that reverse prior trends: U.S. equities will underperform the rest of the world, inflation will rise, volatility will be higher, and the dollar will weaken.
UN Urges Nations to Scale Up Climate Change Adaptation to Avoid Major Economic LossJan 14, 2021 - 12:18:08 PST
The UN estimated that annual climate change adaption costs could reach between $140 billion and $300 billion by the end of the decade.
Jan 14, 2021 - 11:49:47 PST
Sanders, the most progressive member of the chamber, will have a central role in shaping and steering the Democrats’ tax and spending plans through a Congress that they control with the slimmest of margins.
As benchmark Treasury yields rise amid expectations for stronger growth, the key question on investor minds is how high can they climb before spoiling the global risk-asset rally. Some such as JPMorgan Asset Management worry about the pace of the ascent, while others are focusing on breaches of levels from 1.3% to 1.6%...