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The coronavirus is pounding state governments with a financial one-two punch, costing them many millions to try to contain the disease just as businesses are shutting down and tax revenue is...
As the coronavirus outbreak roils credit markets around the world, Asia is under particular threat.The region has led the world in economic growth for years as debt helped fuel frenetic construction of airports, bridges and apartment towers for millions of people moving into cities.
On Monday, the Fed announced QE infinity and by mid-week, Congress had agreed on a $2 trillion stimulus package to battle the economic impacts of the coronavirus. That launched us into a bizarro world where a weekly record of over 3 million unemployment claims led to a huge stock market rally. As Mike Maharrey put it in this Week's Friday Gold Wrap podcast, ladies and gentlemen, we've been stimulated. So, what exactly did the Fed do? What are the long-term ramifications? And can it work? Maharrey talks about all this and more in this week's Gold Wrap.
G20 Leaders to Inject $5 Trillion Into Global Economy Against CoronavirusMar 27, 2020 - 06:45:08 PDT
Leaders of the Group of 20 major economies pledged on Thursday to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus and "do whatever it takes to overcome the pandemic."
Total worldwide debt is expected to continue growing over the coming months, despite having just climbed to a fresh all-time high. Given the three previous waves of global debt accumulation have all ended with financial crises, CNBC’s Sam Meredith takes a look at the risks associated with the latest build-up.
In the 1960s, French politician Valery d'Estaing complained that the United States enjoyed an “exorbitant privilege” due to the dollar’s status as the world’s reserve currency. He had a point.
A devaluation of this magnitude will wipe out the value of your life’s savings. You’ll still have just as many dollars, but they won’t be worth nearly as much.
The Dow was coming off its biggest three-day rally since 1931.
The President of the New York Stock exchange says the markets will remain open despite “unprecedented anxiety” over the coronavirus and its impact on the economy.
"You have enormous buyers of debt meeting massive coordinated fiscal stimulus by governments across the globe. For bond investors, you’re caught between a rock and a hard place."
Lagarde is full speed ahead to craft the EUROBOND knowing that with the world on the verge of deflationary spiral and with it a real depression. Germany not dare to stand in the way of “whatever it takes.”
- In Guaranteed, Risk-Free Profits Every Day. "The Treasury absolutely, categorically, right now has to be thinking about this."
The U.S. Federal Reserve's balance sheet soared past $5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its unprecedented effort to backstop the economy in the face of the global coronavirus pandemic.
U.S. corporate investment-grade funds reported a record $38 billion outflow, extending an unprecedented rout as investors flee for havens assets amid the global market meltdown.
The International Monetary Fund is facing one of its biggest tests since the body’s creation at the close of World War II, with new leaders charged with keeping the global economy from the abyss.Since the coronavirus outbreak closed the Washington headquarters...
To Avoid a Repeat of 2008, Main Street America Says Help Needs to Be FastMar 27, 2020 - 04:31:37 PDT
Two weeks. Maybe a month.
Increased demand for eggs in the United States has sent egg prices soaring in recent weeks as consumers scramble to stock up on staples due to coronavirus shutdowns.
“There was a relatively slow ramp up in unemployment in the beginning of the Depression. Here are the year by year unemployment statistics in the US:...
Many of the millions of Americans bracing for life on unemployment benefits are doing so for the first time in their lives as retail stores, movie theaters, restaurants and other small business shut due to the outbreak.
The U.S. House of Representatives will begin a two-hour debate on a sweeping, $2.2 trillion coronavirus aid bill at 9 a.m. (1300 GMT) on Friday but it was not clear whether the measure would be able to pass on a voice vote, the House Majority Leader's office said late on Thursday. There have been