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Total U.S. Public Debt Surged Nearly $3 Trillion While The Government Is Paying Less To Service ItsJun 8, 2020 - 13:09:43 PDT
If Americans thought the U.S. Government would be in serious trouble as its ability to service its ballooning debt would become unmanageable, guess again. After the U.S. Government added nearly $3 trillion more debt in just the past eight months (fiscal year),...
One glaring distortion, either natural or unnatural, that is staring us all in the face, it is that gold is not already through US$2,000/ounce...
Fed Expands Main Street Program to Allow for Both Smaller and Bigger LoansJun 8, 2020 - 12:42:35 PDT
Under the new guidelines, the minimum loan now will be $250,000 to a maximum of $300 billion.
U.S. President Trump is open to another economic relief package in response to the coronavirus pandemic and remains in favor of a payroll tax holiday, White House spokeswoman Kayleigh McEnany said on Monday. "There are several things he wants, a payroll tax holiday was one of them, because...
Jun 8, 2020 - 12:23:47 PDT
The stimulus checks were meant to get average Americans through the lockdown, but those $1,200 payouts were small change compared with the billions in tax breaks the CARES Act handed out to the country’s wealthiest.
From March to April, the Federal Reserve announced 11 new lending facilities to keep the economy going amid the COVID-19 crisis. Most of the lending programs were designed to provide broad-based liquidity to financial markets, but several were not.
The Federal Reserve will probably keep interest rates at zero when it meets this week. But its own ranks are increasingly clamoring for an unprecedented move: sending rates into negative territory.
Pandemic Creates Pension Plan Tension: Take the Lump Sum or Trust Lifetime PaymentsJun 8, 2020 - 12:06:19 PDT
As companies try to regain their financial footing in the midst of continuing economic uncertainty, a retiring worker's decision to take their pension as a lump sum or lifetime payments could end up boiling down to this one factor.
"Never say never" on the European Central Bank one day buying shares rather than government or corporate bonds, but it has not discussed the idea yet, ECB Governing Council member Robert Holzmann said in comments published on Sunday.
The global crisis is not merely economic; it is the result of profound financial, sociological and political trends described by Marx, Kafka, Orwell and Huxley.
How the U.S. Dollar’s ‘Almost Silent Slide’ Is Juicing the Stock Market RallyJun 8, 2020 - 11:45:34 PDT
“There were plenty of distractions last month but the almost silent slide in the greenback must go down as one of the most unremarked devaluations in history,” wrote Sean Darby, chief global equity strategist at Jefferies, in a Wednesday note.
Is The Treasury About To Flood The US With $700 Billion Over The Next Three WeeksJun 8, 2020 - 11:42:26 PDT
"If the $700bn actually leave the account at Fed and flow into the real economy before quarter-end, then it is likely a massive boost for risk assets."
Branch traffic fell more than 30% in April and the first three weeks of May compared with the same period last year, according to Novantas, a financial-services research firm. Teller transactions dropped 32% in March and April compared with the same period last year, Novantas said.
America (and the world at large) are in the midst of an entirely predictable demographically driven crisis, between an economic/financial system requiring infinite growth and a very finite human/physical world (detailed HERE, or HERE).
Congress resists demands to increase food stamps as the program becomes increasingly partisan in the Trump era
Germany's industrial production fell sharply in April during a strict coronavirus lockdown.
Italy's debt is unsustainable in the long term and will eventually require a restructuring, Schroders' senior European economist said on Monday.
In a Q&A the former Fed chief says the central bank is doing most of what it can. But unless the pandemic is brought under control, the recession will drag on.
So how big is the impending commercial real estate bust in the US? Bigger than the residential mortgage bust of the 2000s and also bigger than the commercial real estate wipeout of the 1990s, including the aftermath of the Texas oil boom of the late 1970s and 1980s.
Scott Minerd, the chief investment officer of Guggenheim Investments, thinks investing in gold could help offset any concern about the status of the U.S. dollar as a global reserve currency as the Federal Reserve plots its next moves to respond to a global economic downturn.