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Uncategorized Archive

Donald Trump suggests disinfectant injection or UV light therapy for coronavirus

According to Donald Trump disinfectant injection with Lysol or a stiff drink of bleach may be the new miracle cures for coronavirus. Consulting publicly with his coronavirus team, President Trump recommended a good internal wash of Lysol to rinse COVID-19 away. That and some internal sunlight/UV light infusions to dry things out afterward.

           

The US stock market leaped at the open on Friday because of late news yesterday about Gilead Sciences’ promising coronavirus cure, Remdesivir. Is the market’s response warranted? Is It Wishful To Think A Coronavirus Cure Can Save The Economy? One economist said today that the stock market already considers 2020 to be economic toast. It […]

           

Fed’s Neel Kashkari: Patriotism Doesn’t Pay Dividends

Posted April 20, 2020 By David Haggith
Neel Kashkari official photo | Public Domain

Federal Reserve Bank of Minneapolis President Neel Kashkari suggested in the Financial Times how banks could raise their own capital to prepare for the coronacrisis: The most patriotic thing they could do today would be to stop paying dividends and raise equity capital, to ensure that they can endure a deep economic downturn. They could … if they wanted to be patriotic. We […]

           

And Now for Something Totally Different

Posted April 20, 2020 By David Haggith
Steve Mnuchin Rappin'

… as Monty Python used to say. The following video sketch of the Federal Reserve and US Treasury hard are work giving away money was created by one of my patrons, and I thought it would be fun comic relief to share it here.

           

FedMed proved dead awhile ago with the whole Bulls team looking dead on the field, until Team Trump, the owner’s club, joined Coach Powell. Then Powell’s coaching team upped its game; and, finally, the Wall Street Bulls revived. “Big deal!” the Bears now yell. “Let’s get back to playing ball!”

           
First liberty bonds, now a coronavirus war bond?

Ron Insana, whom I’ve always thought was well named due to the funny way his brain works and the way he smiles even when nothing is happening, has just melded minds with Kudlow & Cramer to support a coronavirus war bond: My colleague, Jim Cramer, made a very interesting recommendation Monday morning, calling on the U.S. Treasury […]

           

The Return of the Epocalypse

Posted April 11, 2020 By David Haggith

In August of 2015 I started writing about The Great Recession 2.0 that was coming upon us. I called it “The Epocalypse” to signify an economic apocalypse that would be epic in scale and that would begin a new epoch on earth — a turbulent time of great global financial decline.

           
Viktor Orbán widens gulf between EU and Hungary

From Eurocrisis to Coronacrisis, the EU and Hungary fracture over national pandemic responses and civil-liberties. Hungary could be the next Brexit. European leaders see an existential threat to the Union as Hungary’s PM seizes full dictatorial power.

           
HM Stoops? (the name signed to 2 of the 6 illustrations on the page of the newspaper—they all seem to be from the same hand, despite this particular image is unsigned) [Public domain], via Wikimedia Commons

Today the bulls did it it again. This market remains deeply entrenched in denial, soaring even as unemployment soars higher toward the grand summits of the Great Depression and with certain knowledge that many jobs will not return.

           

When Will I Get My Stimulus Check?

Posted April 9, 2020 By David Haggith
DonkeyHotey [CC BY 2.0 (https://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

You want your money. Bankers are already fighting for their part of it. If it takes conflict to make a good story, the banker part will get you; but first let’s cover the basics of what you have coming to you and when:

           

Gurus Gone Mad, Market Gone Gzonkers

Posted April 8, 2020 By David Haggith
stock market roller coaster sets up 2019 recession

By its close yesterday, the market provided exactly the example of the head slamming I said bulls were going to get in the article I was writing all day yesterday because the “Stock Market Bulls are Delusional in Face of Great Depression.” Monday’s stampede proved how utterly disconnected from reality the market’s bulls remain, and […]

           

Stock Market Bulls Delusional in Face of Great Depression

Posted April 7, 2020 By David Haggith
TAFTA [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], from Wikimedia Commons

Monday was nothing but a dead-bull bounce … after bounce … after bounce, which means there is plenty of punishment to come. Pure testosterone drove the market’s rise, fed by nothing but the weak premise that New York’s drop in the coronavirus death rate for a single night meant the worst is behind us.

           

Bailout BONUS Bonanza Going Bonkers … Again!

Posted April 1, 2020 By David Haggith

The banks that are begging for bailouts still cling to their bonuses. To terrorize us into letting them keep their bonuses, the banksters are threatening to release the button on their suicide vests and blow themselves up by not taking the bailouts if they can’t have their bonuses.

           

How the Fed Fixed the Repo Crisis

Posted March 27, 2020 By David Haggith
Picture of old government liberty bond

This week’s results in the Fed’s repo-market interventions in one fell swoop proved everything I’ve said about the Fed’s intervention being QE4ever and the problem’s cause. The following results show the repo market has been fixed: The instant the Fed returned to full-on, “we-now-call-it-QE” QE, the repo market settled right down to an easy calm.