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The U.S. central bank should keep interest rates at their current near-zero levels until the economy is back on track to full health, likely by late 2022 or sometime in 2023, Dallas Federal Reserve President Robert Kaplan said on Tuesday.
But, despite the bounce, current conditions remain seriously impaired post-COVID...
Bloomberg reported that 610 businesses filed for bankruptcy in the Southern and Eastern Districts of New York from March 16 to Sept. 27.
Peter Schiff has been warning about a looming dollar collapse. During an appearance on Fox Business in July, Peter said the dollar isn't just going down, it's going to crash."I think the dollar is going to keep drifting down until it collapses,” Peter said. “And this is going to usher in a real economic crisis in America, unlike something we’ve ever seen.Peter is not alone. In a recent article published on SCMP.com, Yale economist Stephen Roach said he expects the dollar to plunge by as much as 35% next year.
It's going to be an interesting week...
Investors should be buying gold as it represents a "very good hedge" in risk events such as the U.S. election, UBS Global Wealth Management told CNBC.
Meet The Mastermind Behind JPMorgan's Gold And Silver Manipulation "Crime Ring"Sep 29, 2020 - 05:53:00 PDT
"What is commonly out there is that JPMorgan is manipulating the metals market. It's not part of our business model. it would be wrong and we don't do it." - Blythe Masters, April 4, 2012
Markets crash into Federal Reserve's zero rates brick wall as chairman Powell refuses to face new economic and financial realities
Do extended periods of negative policy interest rates continue to encourage commercial bank lending? A large panel of European and Japanese banks provides evidence on the impact of negative rates over different lengths of time.
Peter Schiff recently appeared on RT's Crosstalk and ended up in a debate with a Marxist.The focus of the discussion was a "K-shaped" recovery where some people benefit economically, but we're left with many permanently mired in an economic underclass. Peter said you can talk about a K, L, U or V-shaped recovery, but none of it really matters because when you boil it all down — there is no recovery. And the root of the problem? We've abandoned true capitalism and embraced socialism and central planning.
Sep 29, 2020 - 05:39:24 PDT
It’s one nasty brew: a long spell of low or negative interest rates, a record level of public debt, a recession, income inequality...
Battle lines are being drawn at the heart of the European Central Bank over whether to add monetary support soon to head off any economic slowdown, or wait for stronger evidence that it’s needed.Executive Board member Fabio Pancetta raised the prospect of a preemptive burst of stimulus...
“Elon Musk, Joe Rogan and Ben Shapiro, to name just a few, are leaving California to escape incompetent governance,” Gundlach tweeted on Saturday evening. “The ‘response’ from Sacramento? Wealth and massive income tax increases on job creators (AKA 'the wealthy').”
The U.K. could be facing a long-term increase in the size of the state as well as a substantial tax increase as a result of the coronavirus pandemic, according to the Institute for Fiscal Studies.The influential research group said Tuesday it is “highly plausible” that government spending is around 45% of gross domestic product by the middle of the decade, a level not sustained since the 1970s.
The pandemic has crippled tourism, retail and the culture sector. The damage could last years, and layoffs, service cuts and added debt are all on the table.
Atlanta metro: 53,000 FHA mortgages are delinquent. Houston metro, 47,000. Just FHA, not including other delinquent mortgages. And when forbearance ends? By metro.
Facing Crappiest Recovery Ever, Airlines Demand New $25-Billion Bailout, for $50 Billion TotalSep 29, 2020 - 05:02:42 PDT
Coddled investors, not taxpayers, should step up to the plate and fund the “daily cash burn.”
Democratic lawmakers were unveiling a new, $2.2 trillion coronavirus relief bill, which Pelosi said was a compromise measure that reduces the costs of the economic aid.
How the U.S. Economic Response to the Coronavirus Pandemic Stacks Up to the Rest of the WorldSep 29, 2020 - 04:47:43 PDT
While the U.S. health response to the coronavirus pandemic has faced criticism, the economic response has been among the best in the world.
The coronavirus has infected more than 33.27 million people globally as of Tuesday morning Asia time, killing more than 1 million people so far.