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Extra Unemployment Benefits May Take Weeks to Arrive. Fewer Checks May Be ComingDec 28, 2020 - 09:51:15 PST
Workers are poised to get a $300 boost to weekly unemployment benefits and almost three months of extra jobless aid.
Plus, some thoughts on equities and inflation.
Some hope the world economy will now manage to avoid general collapse by massive government intrusion mirroring the Japanese experience.
In short, the US is moving from a deflationary boom to an inflationary boom. A wrinkle could be a big rise in the oil price, which would make the situation difficult for the Fed, as it was in 1973.
Almost Daily Grant’s (ADG) made the pronouncement on December 14th that a “new benchmark in financial repression” had been set: ”a record $18.4 trillion in global debt is priced to yield less than zero, up from less than $8 trillion in March and a five-year average of $10.3 trillion.” ADG consulted
The ambassadors worked through the Christmas holidays and approved a provisional application on Monday morning.
That is a massive amount of new cash money — historically massive — done almost covertly in the quickest burst ever — and yet it did not even cause the stock market to blink!… The graphs … make it clear why inflation under the new regime could become a much more serious problem than the limp moves seen over all the years of the Great Recovery...
Chinese still trying to acquire mines all over the world. The days of paper prices are ending.
Moody's announces completion of a periodic review of ratings of China National Gold Group Corporation
The US dollar displaced the British pound as the world’s leading reserve currency at the beginning of the last century. After the Bretton Woods Agreement in 1944 which linked world currencies to the dollar, it has reigned supreme.
Gold headed for the highest close in six weeks after President Donald Trump signed a $900 billion coronavirus stimulus package, pumping more state funds into the world’s top economy. Silver surged.The haven built on a run of four weekly gains following the breakthrough on the package...
During the Financial Crisis, consumers deleveraged by walking away from their debts. And now, with 20 million people still claiming unemployment insurance?
That total represents the approximate number of people who just lost benefits, but it is best to look at the PEUC and PUA programs individually.
In 2020, Americans Helped Each Other out Because Our Government Wouldn’tDec 28, 2020 - 05:54:20 PST
Our political leaders ought to support us in a time of unprecedented disaster. But they didn’t, so we had only ourselves to rely on.
Dec 28, 2020 - 05:48:35 PST
The coronavirus pandemic caused several retailers to file for bankruptcy. Here's who faltered this year.
Financially pressed Americans are looking forward to extended unemployment benefits and a $600 check, finally signed into law by the president.
Pressured By Negative Rates, European Banks Are Bludgeoning Customers With New FeesDec 28, 2020 - 05:31:52 PST
Just because the financial system is being flooded with free money by various Central Banks, led by the Federal Reserve, doesn't mean that banks and lenders have to stop squeezing extra cash from their depositors and borrowers.
Some investors, tempted to chase bigger gains, are borrowing against their investment portfolios, pushing margin balances to the first record in more than two years.
China will overtake the United States to become the world's biggest economy in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the COVID-19 pandemic, a think tank said.
Worse, US debt is likely to increase faster than anticipated. Current projections do not include the full costs of the pandemic stimulus packages, or the “needed public investments” that the Biden administration will seek to promote.