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Budget Deficit Hits Record As U.S. Spends 100% More Than It Collects YTDAug 12, 2020 - 11:34:45 PDT
At some point the market will realize that this insanity is simply unsustainable. And, in fact, looking at the soaring price of gold recent very temporary downdraft notwithstanding, that realization may not take too long.
A key euro zone interbank money-market rate is trading below the European Central Bank's own official rate for the first time in over five months, a sign of the vast amount of cash that has been poured into the system to combat the COVID-19 crisis.
The Federal Reserve said it would reduce the rates it charges cities and states seeking short-term loans from an emergency lending program that has seen little takeup so far.
The U.S. economic recovery from the coronavirus pandemic may be stalling after a surge in infections across the country forced most states to pause or reverse their reopenings, according to Boston Federal Reserve President Eric Rosengren.
Negative interest rates have long since become a reality. But we are not talking about negative real interest rates. This is the case when the return on an investment is lower than the officially stated inflation rate.
"Europe may be experiencing a ‘Hamiltonian moment,’ but the path towards a federal Europe will remain both long and tortuous. Political opposition to the European experiment has been growing as the perceived costs of membership of the EU begins to eclipse the benefits for some members of the...
MASSIVE SHAKEOUT In Gold & Silver: $2000 Was Not The High, We're Going MUCH, MUCH HIGHERAugust 12, 2020
Gold’s spectacular move down is the sign of a bull market...
No Sign of Stimulus Deal in Sight as Pelosi Says Dems, White House Are ‘Miles Apart’Aug 12, 2020 - 09:41:43 PDT
The gap between the parties on coronavirus stimulus is a "chasm," Nancy Pelosi said as it is unclear when relief talks will restart.
US President Donald Trump would like to do a capital gains tax cut, US Treasury Secretary Steven Mnuchin told Fox Business on Wednesday and added that
Economic data suggests that only "targeted money" is needed for the economy, White House economic adviser Larry Kudlow told Fox Business on Wednesday.
To assess where the economy is going, you first must know where it is. With that in mind, the focus of this article is depression.
A sharp decline in the relative value of the dollar this year has been met with cheers from those hoping for a short-term boost to the US economy, and with hand-wringing by those worried about the currency's global standing. But while both views reflect underlying truths, neither tells the whole story.
The slowdown in economic activity is likely to continue as states put more restrictions in place to control the virus, and the momentum to return to full employment could fade as consumers remain cautious, Boston Federal Reserve President Eric Rosengren said Wednesday.
Kuroda argued the key to the BOJ’s historic easing boosting demand was for tens of millions of Japanese to, essentially, believe in a little magic. “I trust that many of you are familiar with the story of Peter Pan, in which it says, 'the moment you doubt whether you can fly, you cease forever to be able to do it.'"
Aug 12, 2020 - 08:14:49 PDT
During the 2008/09 global financial crisis, European governments bailed out a large number of banks that were severely affected by the crisis.
"Hard Times Are Here": UK Economy Suffers Record Collapse As GDP Plummets To 2003 LevelsAug 12, 2020 - 08:07:19 PDT
"Hundreds of thousands of people have already lost their jobs, and sadly in the coming months many more will."
New Zealand Central Bank Expands Bond-Buying, Warns of Negative Rates as Nation Locks Down AgainAug 12, 2020 - 07:53:15 PDT
New Zealand's central bank surprised markets on Wednesday by expanding its bond-buying programme and warned that policy rates might have to go below zero to revive the coronavirus-battered economy as the country was plunged back into lockdown.
Taxpayers, not the government, take the risk.
Aug 12, 2020 - 07:28:36 PDT
Roughly a third of Senate Republicans adamantly oppose assisting millions of American families struggling to make ends meet.
The US economy has lost momentum in recent weeks because of a resurgence of the coronavirus and that may call for more sustained fiscal support to cushion the blow, a senior US central banker said.