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Fastest Stock Market Recovery With the Fastest Money Supply Growth Since Records Began: BloombergJun 9, 2020 - 11:42:45 PDT
And if I have learned anything from the amazing events of 2020 so far, it is that you should never ignore liquidity. Growth in U.S. M2, a broad measure of money supply, has been its strongest since the Federal Reserve’s records began in 1960...
Last week, a bipartisan group of 60 members of the U.S. House of Representatives sent a letter to congressional leadership, raising concerns about mounting debt and deficits that have come as a result of the federal government’s response to the coronavirus pandemic. “We cannot ignore the pressing issue of the national debt,”...
The U.S. Is Officially in a Recession. Will It Actually Become a Depression?Jun 9, 2020 - 11:22:48 PDT
The U.S. is officially in a recession. While unemployment levels are at their highest since the Great Depression, economists think it's unlikely the country will tip into depression territory.
Muni Bond Investors Could Lose Out as Pension Crisis Cripples Many U.S. CitiesJun 9, 2020 - 10:23:37 PDT
Budget cuts, tax hikes among few options for cities struggling to fulfill pension promises.
Jobs with state and city governments are usually a source of stability in the U.S. economy, but the financial devastation wrought by the coronavirus pandemic has forced cuts that will reduce...
Gold kept up with actual inflation and your actual out of pocket expenses. Gold is going up right along with real inflation. (ShadowStats.com computations say the real inflation rate in America currently averages 9% per year.) . . . . I am looking for a hyperinflation.
This would be crucial in the trade war between the U.S. and China...
Despite the "way better than expected" bounce in employment in which the unemployment rate is admittedly several percentage points to high, the actual employment level is less than it was in January of 2003.
The banks have backed themselves and us into a black hole of no return, dooming us to an interest rate slingshot that will implode all the bubbles...
Odds of Another Recession This Year ‘Pretty High’ if Congress Doesn’t Pass More Aid: ZandiJun 9, 2020 - 08:55:41 PDT
The U.S. could slide into a second coronavirus-induced recession this year if the federal government does not pass additional economic relief measures, according to Moody's chief economist Mark Zandi.
The IBD/TIPP Economic Optimism Index, a leading national poll on consumer confidence, declined by 5.4% in June. The index’s reading of 47.0 is at its lowest mark since September 2016.
The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. Then French Finance Minister Valery Giscard d’Estaing coined that phrase in the 1960s largely out of frustration, bemoaning a U.S. that drew freely on the rest of the world to support its over-extended standard of living. For almost 60 years...
We have the highest market valuations ever (market cap to GDP) 151% on Friday’s close with old GDP data hence the real figure is higher. This chart from the beginning of June:
Jun 9, 2020 - 07:53:26 PDT
The decline in the currency suggests that the People’s Bank of China (PBOC) is tolerating a weaker yuan against its trade-weighted basket to support its exporters and economy as economic friction with the US escalates, analysts said.
JOLTs Shock: 4.5 Unemployed Workers For Every Job Opening As Hiring Craters, Quits PlummetJun 9, 2020 - 07:48:49 PDT
The labor market, it will come as a surprise to nobody, is imploding.
Big Jobs Gain ‘Has Bought the Fed Some Time,’ but More Help Eventually Will Be NeededJun 9, 2020 - 07:39:18 PDT
In addition to signaling a possible turn in the economy, the big job gains in May give the Federal Reserve some more wiggle room before its next policy move.
Federal Reserve officials don’t like to talk about asset inflation.This is hardly surprising. The levels of stocks and corporate bonds, after all, aren’t part of their stated dual mandate of maximum employment and stable prices. Moreover, the central bank has tried desperately...
(Bloomberg) -- As a sense of euphoria sweeps through global equity markets propelling stocks to regain $21 trillion in value from a March low, the asset class is looking increasingly frothy. While stock luminaries who had advocated for a bull zone look like winners in hindsight, the debate goes on about...
German exports and imports slumped in April, posting their biggest declines since records began in 1990 as demand dried up in the coronavirus lockdown, casting further gloom over the outlook for Europe's biggest economy.
S&P Global Ratings on Tuesday lowered its outlook on Japan's sovereign debt rating to stable from positive, citing increased uncertainty over the country's fiscal health as it boosts spending to overcome the effects of the coronavirus pandemic.