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Main Street Looks to Congress for New Lifeline as Pandemic Impact Lingers OnAug 28, 2020 - 12:15:13 PDT
Small business owners are awaiting a new aid package from Congress as new data show nearly one-fifth say they may have to close their doors if economic conditions don't improve in the next six months.
...this sets the next stage in motion for the real collapse in confidence, central banks, and the currencies they manage...
“Stable Money” is the principle that the United States used, in its monetary affairs, for nearly 200 years, before the floating currency era began in 1971. It worked: the U.S. became, in that time, the wealthiest country in human history, with the broadest and most prosperous middle class...
The stagnation is there, just no one can see it. The August 7 Grant’s Interest Rate Observer quotes “a knowledgeable friend” concerning the banks: “Right now, if you look at the underlying data on consumer delinquencies, you don’t see a recession at all.”
The deficit narrowed during July after months of record shortfalls in federal tax revenues. During April, May, and June of this year deficits surges to unprecedented highs as economic activity dried up, workers were furloughed and laid off, and tax payments were deferred.
Gold is looking even better after the Federal Reserve to tolerate higher inflation.
Pandemic panic is the perfect cover for gutting the program.
Millions of Americans Have Lost Health Insurance in This Pandemic-Driven RecessionAug 28, 2020 - 09:56:21 PDT
Up to 12 million Americans may have lost their employer-sponsored health insurance during the pandemic. Here are their options for finding coverage elsewhere.
Subprime Mortgages Fall Massively Delinquent. Taxpayers on Hook. Housing Market Splits in TwoAug 28, 2020 - 09:43:12 PDT
On one side: land rush by a few hundred thousand home buyers. On the other: millions of homeowners with delinquent mortgages. Here are the metros by FHA delinquency rate. Two exceed 27%.
Fed’s Total Assets Fall Again, Week 11 Since Peak-QE: Crazy Charts for Crazy TimesAug 28, 2020 - 09:41:48 PDT
“Two steps forward, two steps back”: Fed’s new song and dance, no?
Aug 28, 2020 - 08:56:01 PDT
Thanks to the behemoth banks on Wall Street that engineered the largest Inside Job in the history of global banking and cratered the economy in 2008, retirees are now looking at a yield of 0.75 percent on a 10-year U.S. Treasury note.
Gold futures rise Friday, prompting a turn higher for the week, after the Federal Reserve announced a policy shift Thursday that would allow employment and...
Inflation Assets vs. Deflation Assets
\Hedge funds and other short sellers are beginning to set their sights on a U.S. credit-derivatives index with outsized exposure to hotel debt as the pandemic sinks the hospitality industry into distress
These dynamics drive a scenario of increased fragility that raises prospects for extreme moves in both directions...
As bears are capitulating and markets keep making new highs on the heels of yet another dovish speech by Jerome Powell investors continue to chase historic valuations. Nothing has mattered so far, …
Targeting higher inflation, as the Federal Reserve suggested it would do in a revamp of its monetary policy strategy on Thursday, could end up slowing growth instead of boosting it unless the U.S. central bank's message to households and businesses is carefully crafted and conveyed.
Chancellor Angela Merkel warned the coronavirus crisis will get worse before it gets better and that the fallout will test Germany’s finances for months if not years to come.
Fed’s Mester: Recovery Will Be Slow and Require More Fiscal and Monetary SupportAug 28, 2020 - 07:48:50 PDT
Economic activity and hiring tempered while coronavirus cases were increasing, confirming that the recovery will be slow and that the economy will require more support from monetary and fiscal policy, Cleveland Federal Reserve President Loretta Mester said Friday.