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The Virus Is Sparking the Worst Recession Since WWII, Stephen Roach WarnsMar 31, 2020 - 05:27:56 PDT
Economist Stephen Roach believes the country is sinking into an unprecedented recession, a downturn that'll be difficult to exit.
“We didn’t want to spend pennies in January, now we’re going to spend trillions,” said Taleb, who also advises tail-hedging fund Universa Investments. “If you delay more, you’re going to spend even more.”
Yellen Says Too Much Corporate Borrowing Will Hinder Economic Recovery: WSJMar 31, 2020 - 05:23:00 PDT
High debt loads, abetted by low rates, could trigger wave of corporate defaults and cutbacks, former Fed chief says
Mortgage bankers are sounding alarms that the Federal Reserve’s emergency purchases of bonds tied to home loans are unintentionally putting their industry at risk by triggering a flood of margin calls on hedges lenders have entered into to protect themselves from losses.
A majority of younger Americans support both a universal basic income established by the federal government and some sort of public healthcare option, according to a new survey.
The evil Empire has the ultimate weapon - the printing press. This diabolical machine is capable of bringing death to the dollar and destroying the entire economy. Watch the drama unfold as Peter Schiff and his rag-tag band of Austrian School economists fights the evil empire and tries to save the Republic from the Keynesian menace.
“When I say sales have been booming,” he said, “it’s an understatement.” Gun sales are surging in many US states, especially in those hit hardest by the coronavirus – California, New York and Washington.
Tokyo’s 14 million people should avoid visits to bars and restaurants, and put karaoke sessions on hold until 12 April, while a senior medical official called on the government to declare a state of emergency before it is “too late”.
Oil is selling for less than $10 across key North American hubs as the global demand shock from coronavirus leaves crude with nowhere to go.
Neither the Fed nor the Treasury can bail out brick-and-mortar retailers.
“We are temporarily a company with no product and no revenue.”
Cracks in Municipal Debt Markets Raise Questions About Future Fed ActionMar 31, 2020 - 04:48:05 PDT
Funding strains in the municipal debt market are forcing states and cities into balancing layoffs against providing essential services to Americans that were laid off themselves.
30% of the labor force will be gone if America follows the Hubei scenario. To be clear, that’s an unlikely worst case scenario.
"These under-resourced, strapped, stressed systems in many cases do not have the latest technology or data systems," he said. “Now they’re being hit by the largest tsunami of unemployment claims in the history of those data being collected.
Congratulations America, you were just bought by a group of anonymous bankers with your own elected politicians making it possible.
We’ve reached the next stage of the EU’s evolution, whether it will adopt a common bond market or not. It’s been clear for a long time that something had to change if the European Union was to survive its political transformation. And that issue is the formation of a shared debt structure underpinning the euro, …
Moody's Cuts Outlook on $6.6 Trillion Us Corporate Debt Pile to 'Negative'Mar 31, 2020 - 04:19:59 PDT
Moody's Investors Service has cut its outlook on corporate debt to negative, saying that an economy about to tip into recession because of the coronavirus will result in rising default rates.
Stock Futures Are Flat as the Dow Heads for Its Worst First Quarter EverMar 31, 2020 - 04:11:01 PDT
The Dow is down 21.8% this quarter, on track for its worst quarter since 1987 and its worst first quarter ever.
An official from China's National Health Commission has said that the country is to start testing asymptomatic cases; Spain's numbers of deaths in 24 hours reaches highest level yet.
With the world sharing its data, we're starting to get a better handle on understanding the coronavirus. This, folks, is how we'll beat covid-19.