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Airlines, Trying to Dodge Bankruptcy Threaten Oct. Jobs Massacre Unless they Get 2nd BailoutAug 27, 2020 - 08:55:10 PDT
“Unfortunately, we see few catalysts over the next six months to meaningfully change this trajectory”: Delta.
In March, Congress gave the Treasury Department $454 billion to backstop aggressive new lending efforts by the Federal Reserve to distressed businesses and state and local governments. Five months later, $259 billion is still uncommitted.
The traditional class war has been waged between wage-earners (who sell their labor) and their employers (owners of capital and the means of production). T
Digital money a fundamental threat to greenback.
Is runaway inflation now inevitable? Will those worrying about a systemic "crash" from all the intervention and deformation be proved wrong?
Economic Drag On U.S. to Persist Long After Virus Is Gone, Central Bankers Are ToldAug 27, 2020 - 08:06:46 PDT
Even after the virus that spawned the current U.S. recession is vanquished, the drag on economic growth will persist much longer than widely understood, according to research presented to an influential group of central bankers on Thursday.
The Treasury yield curve steepened to the widest in two months after Federal Reserve Chairman Jerome Powell announced a shift to a more relaxed approach on inflation, emboldening traders to bet policy rates will remain locked near zero for even longer.
Housing Regulator Extends Fannie Mae and Freddie Mac’s Foreclosure and Eviction MoratoriumAug 27, 2020 - 08:02:20 PDT
The Federal Housing Finance Agency has extended the foreclosure and eviction moratorium for homes with mortgages backed by Fannie Mae undefined and Freddie...
Biggest Experiment in Monetary History: Battle of the Central Banks That Can Print the LoudestAug 27, 2020 - 07:26:45 PDT
Central banks are almost engaged in a battle over who can rumble their printing presses the loudest. SNB and Bank of Japan lead the race.
"the central bank may face the risk of getting trapped in a never-ending monetary accommodation even when real economic activity is strong or when financial stability risks accumulate."
A group of multimillionaire investors in the U.S. are hoarding cash at unprecedented levels.
Powell Announces New Fed Approach to Inflation That Could Keep Rates Lower for Longer: CNBCAug 27, 2020 - 06:43:44 PDT
The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter than normal in order to support the labor market and broader economy.
Credibility Fading Fast!: Gold & Bonds Jump, Dollar Dumps After Fed Unveils New ‘Longer-Run Goals’Aug 27, 2020 - 06:36:34 PDT
As Fed Chair Powell appears to be somewhat disappointing investors with his lack of enthusiasm for driving inflation higher fast.
The U.S. stock market reaches one record high after another, but the key question today for the gold investors is: what will Powell say?
Aug 27, 2020 - 05:48:23 PDT
Federal Reserve Chairman Jerome Powell's speech to open the Kansas City Fed's annual Economic Symposium will be closely watched for an update on inflation policy going forward.
The coronavirus stimulus bill would include extra unemployment benefits and small business loans, but not another direct payment.
Record GDP Plunge Revised Slightly Higher: US Economy Contracted 31.7% In Q2Aug 27, 2020 - 05:39:40 PDT
The BEA unveiled in its first revision of GDP that the historic Q2 slowdown was just modestly better than expected, coming in at -31.7%, beating expectations of a -32.5% number.
Economists polled by Dow Jones expected initial jobless claims for the week ending Aug. 22 to come in at 1 million, down from 1.106 million in the previous week. That week marked the first time in 21 weeks that initial claims were above 1 million.
We've written extensively about the "war on cash." Government officials and academics offer all kinds of plausible rationals for moving toward a cashless society. Most of them involve consumer convenience and the ability to battle drug dealers and big-time criminal organizations. But make no mistake, governments love the idea of eliminating cash for more a more sinister reason — it would make it possible for them to track every single purchase you make. And it would also allow them to exercise a tremendous amount of control over individuals.
In short, the options market is sending a message that volatility going forward is likely to be greater than the stock market currently implies. And history shows the options market is usually the one who wins this sort of argument.