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When asked by the press if the Fed was concerned about how it has increased wealth disparity in the US with its policies, Papa Powell kept clearing his throat and parading his lamest thoughts. “Inequality is not related to monetary policy,” he claimed in the Fed’s defense. Powell did not answer the question directly but […]
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
The last few months reveal how dramatic failure of the Fed looks now that it has hit the wall of diminishing returns. I’ve warned for years that the next recession would look just like what we are now seeing. I’ll show below why this graph shows in stark numeric terms just how bad it is.
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 […]
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.
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:
I’ll lead off with a brazen display of SHAMELESS bankster greed. Banks absolutely MUST HAVE all bailouts go to them. When the government said it would send $1,000 checks to every tax payer as a personal bailout, one banker implored the government to give it to the banks instead.
National Economic Council Director Larry Kudlow, a top economic adviser to President Donald Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020. “I am still running a process of Tax Cuts 2.0. We’re many months away – it’ll come out sometime later during the campaign,” […]
Did you know Dr. Frankenstein created a monster that stays alive to this day by eating zombies? Neither did the zombies. Neither, apparently, did Dr. Frankenstein. In fact, the zombies, being braindead as zombies are, do not realize that they are also keeping alive the diabolical doctor who made the monster that is eating them.
I spend much time criticizing the outlandish economic foolishness I see throughout the global economy and especially in the US economy (because the US economy is the one I am familiar with as a direct participant). Those who criticize need to be able to offer solutions. I have real, sustainable economic recovery ideas, but I […]
As noted in my last article, “Fed Loses Control of its Benchmark Interest,” bank liquidity strains are written all over this month’s troubles. Some may find that hard to believe because there is so much hot air (fiat money) still floating the system from a historical standpoint. There is a sound fundamental reason, however, that […]
One argument for last week’s extraordinary plunge in bond prices, which I explored as something that might happen this time of year in one of my earlier Premium Posts, was that bond prices could get crushed by the supersized US treasury auctions planned for September and October as the government makes up for its inability […]
Pretty good if you ask me. Most economic indicators this year have moved relentlessly in the direction of recession, and now the Cass Freight Index is saying a US recession may start in the 3rd quarter, fitting up nicely to my prediction that we would be entering recession this summer.
Let me help remove the rose-colored glasses for anyone who still thinks GDP this year is good. First, GDP growth in the first quarter was not “great” as I’ve heard some claiming. It was, by US historical standards, a little lower than mediocre. Second, the biggest tax cuts in history only got us down to […]