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In March, the IRS laid out a range of ways they would ease the burden on taxpayers such as very few new audits. That self-imposed restriction is over.
Second stimulus checks or some form of direct payment likely will be included in the next stimulus bill. Members of both parties and the president support second stimulus checks. However, the amount and eligibility criteria are up for debate.
The number of applications for unemployment benefits is likely to top 1 million for the 17th straight week, underscoring the difficulty the U.S. is experiencing as the economy tries to recover from the coronavirus.
    The Risk of ‘Stagflation’
Jul 15, 2020 - 10:55:11 PDT
A combination of lockdown-induced economic slowdowns—and central banks printing trillions of dollars—has many people worried about something called stagflation. Daniel Lacalle explains.
    Could America Have a French-Style Revolution?
Jul 15, 2020 - 10:40:37 PDT
As with the French Revolution, that will be the trigger for a wholesale replacement of our failed institutions.
    A Dollarization Mission for Secretary Pompeo
Jul 15, 2020 - 10:32:09 PDT
By launching a “dollarization” mission, Secretary Pompeo would be killing two birds with one stone: China’s renminbi ambitions and junk currencies.
The exchange has caught attempts to "spoof" trading...
U.S. job gains are set to slow sharply or even reverse in July after a resurgent coronavirus and new wave of shutdowns stymied the economic rebound.
Congress must act decisively to avoid repeating mistakes of the recovery from the Great Recession.
Gold will be the best currency going into 2021, and $2000 gold seems inevitable for this year...
    Doomsday Hedge Fund Sees Gold Topping $3,000 an Ounce
Jul 15, 2020 - 08:54:02 PDT
A hedge fund manager who returned 47% this year by betting on gold and Treasuries says the next decade is going to be marked by inflation that central banks are powerless to control.
“I’m supportive of the idea of letting inflation get above 2% before we take any action with respect to the federal funds rate,” Harker said, in an interview on Bloomberg Television.
Japan's government is said to be seriously considering issuing a central bank digital currency (CBDC).The post Japan is seriously considering to issue digital currency - report appeared first on The Block.
Goldman Sachs Preparing For Prolonged Economic Challenges Goldman Sachs: Majority Of Employees Still Working Remotely
A top Fed official is issuing a warning about fast-growing and largely unregulated shadow lenders: They were a big factor in why central banks had to save markets earlier this year, and much more needs to be done to assess the risks posed by the sector.
    Passive Fingerprints Are All Over This Crazy Market
Jul 15, 2020 - 08:23:56 PDT
Passive investment strategies and managers have taken control of the market. With it comes odd anomolies and inane trading behaviors.
The remarkable rebound in U.S. equities from the depths of the Covid-19 crisis in March faces a fresh test in coming weeks, with the American economy set for a withdrawal of a key stimulus support.The average unemployment benefit for Americans put out of work will tumble by more than 60%...
An increasingly dangerous pattern is emerging around the globe as countries push back against what they see as belligerence and bullying from the Chinese government.
    Dollar Hits One-Month Low; Riskier Currencies Gain
Jul 15, 2020 - 08:02:05 PDT
Risk sentiment revived in currency markets on Wednesday, as progress towards a COVID-19 vaccine helped equities rebound and commodity currencies strengthen, while the dollar fell to a one-month low.
The New York University professor who developed one of the best-known formulas for predicting corporate bankruptcies has a warning for U.S. credit investors: this year’s spate of “mega” insolvencies is just getting started.