Precious metals are apparently waking up. And here is where you can find the best deals.
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Ironically, even as cash flows collapse, and a wave of bankruptcies hits corporations, which will add millions in unemployed workers to the tens of millions already laid off due to the coronavirus, stocks remains within spitting distance of all time highs. We only note that in case anyone still harbors any delusion that markets reflect anything but the trillions in liquidity that the Fed is injecting at any given moment.
The Fed may hold interest rates near zero for three or more years, and its balance sheet will soar above $10 trillion as policymakers seek to revive the U.S. economy from recession...
The Federal Reserve’s balance sheet expanded to a record $6.6 trillion in the week ended April 22, an increase of $205 billion from the prior week, the central bank said Thursday.
Treasury Secretary Mnuchin will require public companies deemed critical to national security that seek a share of $17 billion in virus-related relief to offer an equity stake to the government. For private companies, Mnuchin “may, in his discretion, accept senior debt instruments
Mohamed El-Erian, chief economic adviser at Allianz and a Bloomberg Opinion columnist, discusses the impact of the Federal Reserve's stimulus efforts on markets and the likelihood of defaults in Europe and emerging markets.
The hollowed-out brittle shell of the global economy has shattered, and no amount of simulations and bogus reassurances can restore what's broken. Authoritarian overkill only speeds the collapse of legitimacy, trust and credibility.
Unemployment Rate of 23%?: Now in Dier Straits Since the Great DepressionApr 24, 2020 - 04:30:51 PDT
An economy that had been near full employment just two months ago is now in its most dire straits since the Great Depression. New filings for weekly jobless claims, reported Thursday, added to the gloom with another 4.4 million applying for unemployment insurance.
Looking at absolute unemployment claims unadjusted for state population, California came out highest with more than 3.3 million filed over the last five weeks.
With 100,000 Stores to Close by 2025, Mall Owners Face Legal Hurdle NextApr 24, 2020 - 04:22:10 PDT
A wave of retailers demanding rent reductions, or leaving malls and shopping centers entirely, would deal another blow to an industry that has already been struggling to fill excess space.
As the economic shutdown drags on and job losses mount, more borrowers are opting to delay their monthly mortgage payments through mortgage forbearance plans.
Trump May Extend Coronavirus Social Distancing Guidelines to Early SummerApr 24, 2020 - 04:16:35 PDT
The guidelines, which were first shared in mid-March and had already been extended once, were set to expire at the end of April.
Global cases: More than 2.7 million. Global deaths: At least 190,985. Most cases reported: United States (869,172), Spain (213,024), Italy (189,973), France (159,467), and Germany (153,129).
Chris has been frequently critical of our leaders’ bungled responses throughout the coronavirus pandemic. So today he turns the tables on himself and asks: Well, what would *I* do if I were in charge?
This crisis will likely result in a change of the international monetary system. It's quite likely we will adopt a new gold standard. That doesn't mean...
The latest unemployment numbers hit today and have spooked investors worldwide. But as Mike Maloney points out in today’s update - it may be even worse than you think.
People are about to find out the economy isn’t a light switch and won’t just switch back on...
Inflation is still lacking despite the desperate policy attempt to “achieve 2%”. But the bottlenecks and real capital destruction this crisis has created, together with infinite spending and grants to make everyone whole will see inflation returning again with a vengeance
The Fed bought $59.909 billion of agency mortgage-backed securities in the week from Apr. 16 to Apr. 22, compared with $59.403 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
Because the Fed isn’t set up to take on the risk of borrowers defaulting, the Treasury Department will cover any losses with the money set aside by Congress.
The update comes after a public furor that large companies tapped the facility for hundreds of millions of dollars while thousands of small businesses have yet to receive funding.