The Great Recession Blog

Jobs didn’t get much worse in September, but they stopped getting better. This is a tale of where the recovery road for the US economy ended. Unemployment is the crux of the Covidcrisis economic story. While jobs showed a little improvement in September, a little digging through the numbers reveals the return to full employment […]

The Fed admits its policies are losing potency, and its efforts now require continual government support as massive as the support provided by the Fed. I maintain that Fed success at propping up stocks now also requires continued belief in a fantasy narrative about a V-shaped economic recovery from the Coronacrisisi. We saw all of […]

Bloomberg reported this week that thirteen US companies (in the 50-million-plus size) filed for bankruptcy last week. That brought the total for the big boys and girls this year to 117, which matches the record peak for the first half of a year set in 2009. The slew of bankruptcies also set a record in […]

Jerome Powell burst the stock market bubble by publicly acknowledging there will not likely be a “V”-shaped economic recovery. He indicated that it will take years for the economy to return to the recent levels … we experienced just a mere four months ago. —Seeking Alpha

With crude oil prices having gone negative, everyone and his sister is scrambling to figure out how to invest in oil and make bank where banks have failed: There must be a way to get someone to pay me to take oil off their hands so I can resell it when the world is normal again […]

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!”

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:

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.

The soup lines hadn’t formed yet. Jobs had not even noticeably started to dry up, but they weren’t as easy to find anymore. You had to be angry to quit without having a better job firmly in hand. Stocks were climbing furiously above an economy that had been slowly ebbing away since summer. Sales were […]

Boeing is a prime example of bailouts going bonkers. It flew to the government’s fuel pumps fast like a jet plane to beg the government for relief on the basis that the airline industry was disproportionately hit by something no one could see coming.

The emphasis has to be on HOG as they squeal for corporate welfare and push their snouts into the trough. One hedge hog says the government needs to bail out all businesses by paying all wages so companies that depleted all cash don’t have to pay to retain all workers:

As stocks took a morning breather while I enjoyed my coffee and wrote down the first recession stats since the Coronacrisis, I came across a heart-ripping prediction from Goldman Sachs for this week once the data is in. It’s been a long line of facts to this recession, but the last step is a doozy!