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When a gap opens up between perception (the stock market) and reality (a new depression), reality always wins. But, it can take time.
The Problem With the U.S. Economy Is There Are Too Many Poor People: Michael FarrSep 18, 2020 - 09:50:08 PDT
Until employment and wages increase, the U.S. economy will remain at best bogged down and at worst digging a deeper hole for all of us, our children and grandchildren.
House Speaker Nancy Pelosi indicated Thursday that Democrats will keep pressing for a coronavirus relief package of at least $2.2 trillion.“It's hard to see how we can go any lower when you only have greater needs,"...
Inflation may be stronger in coming quarters than Wall Street now expects, said St. Louis Fed President James Bullard on Friday. "I actually think we're at a...
Federal Reserve policymakers on Friday began fleshing out what their new tolerance for inflation will mean in practice, an issue critical to how investors and households reshape their own outlooks even if it may not be relevant to any immediate decisions by the U.S. central...
‘This Is Going to Bankrupt Me’: Americans Rack Up $45B Worth of Medical Debt in CollectionsSep 18, 2020 - 09:01:30 PDT
Medical debt is piling up as millions of unemployed Americans struggle to stay afloat after losing their health-insurance coverage following a historic wave of layoffs this year.
Metrics Show Consumers Pulling Back on Spending in September as Congress Debates Second StimulusSep 18, 2020 - 08:47:28 PDT
After spending more in the summer as economies reopened and stimulus checks hit their bank accounts, U.S. consumers are spending less.
“There was an inconsistency with the super-strong forward guidance on rates and quantitative-easing, which was a little more loosely defined,” said Mike Stritch, chief investment officer at BMO Wealth Management.
Who Bought the $3.3 Trillion Piled on the Incredibly Spiking US National Debt Since March?Sep 18, 2020 - 07:54:02 PDT
Trillions flying by so fast, it’s hard to even count them. But somebody had to buy these Treasury securities. And it wasn’t just the Fed. Here’s who.
I'm not sure that this is appropriate for "fun" on Friday. It's more like sad on Friday. Or ironic on Friday. But I don't have anything more fun, so I'm going to run with this.As you may know, yesterday was Constitution Day. And you know what? The federal government can't even get that right.
Sep 18, 2020 - 07:50:25 PDT
The Covid-19 pandemic has dramatically worsened America's hunger crisis—a shift that disproportionately impacts people of color, women, and children.
Progress in initial and continued state unemployment claims is minimal. All continued claims rose has worsened for three weeks.
A Siena College study shows 44 Percent of Six-Figure Earners in NYC Have Considered Relocating.
China’s Yuan Is Rallying Sharply Against the Dollar and Analysts Say There’s Room to RunSep 18, 2020 - 07:34:17 PDT
Analysts say recent strength in the yuan is due to a weakening dollar, which has slumped significantly this year, as well as China's economic recovery after the worst of the coronavirus hit.
New Federal Reserve guidance over the future path of rates fell short of what was needed, Minneapolis Fed leader Neel Kashkari said Friday.
With the Federal Reserve keeping rates low, home buyers are benefiting. But savers? Their average interest rate is just 0.05 percent.
Millions Are House Rich but Cash Poor. Wall Street Landlords Are Ready :WSJSep 18, 2020 - 07:19:44 PDT
Since the coronavirus pandemic began, big single-family landlords have raised billions of dollars for homebuying sprees.
Advocates see an opportunity to transform the safety net.
The Federal Reserve wrapped up another FOMC meeting this week. The central bank delivered pretty much what was expected. The easy money will continue to flow unabated. But it looks like what is expected is no longer enough. The addict wants even more of the monetary drug. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed meeting and the market reaction.