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After the Fed Punts, the ECB Throws Another Hail Mary
After the Fed Punts, the ECB Throws Another Hail Mary Last week FOMC Chair Jerome Powell and company did, essentially nothing, at their June meeting. They held interest rates at 0.25%, did not expand QE nor did they indicate any changes. This wasn’t what the market wanted, as the bond were pushing the Fed to […]
The Fed’s Couldn’t Even Stomach a 10% Drop in Stocks… It’s Officially in the Bubble Business
The Fed’s Couldn’t Even Stomach a 10% Drop in Stocks… It’s Officially in the Bubble Business The Fed will soon be buying stocks. Earlier this week, the Fed announced that it will begin buying corporate bonds from individual companies. Before this announcement, the Fed was already involved in the: The Treasury markets (US sovereign debt) […]
Goodbye, Free Market
Goodbye, Free Market Fremdschämen. Fremdschämen is a noun of the German language. It translates this way: Embarrassment for those incapable of feeling embarrassment. Today we suffer embarrassment for Mr. Jerome Powell and his fellows of the Federal Reserve… For no action they take lowers their heads in shame… or blushes their cheeks with embarrassment. Mr. […]
How Saudi Arabia Caused The Worst Oil Price Crash In History
How Saudi Arabia Caused The Worst Oil Price Crash In History Saudi Arabia made good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal in early March. The Kingdom’s oil exports jumped by 3.15 million bpd to 11.34 million bpd in April. Saudi Arabia made good on […]
Gold Is Security in a Dollar Crisis
Gold Is Security in a Dollar Crisis Last week, we reported Yale economist Stephen Roach’s warning that “the era of the US dollar’s ‘exorbitant privilege’ as the world’s primary reserve currency is coming to an end.” Roach isn’t the only person in the mainstream sounding the alarm about the dollar’s demise. In a note published last week, […]
The Great Reset – The Final Battle Against Marxists
The Great Reset – The Final Battle Against Marxists The rising civil unrest is starting to take notice of Bill Gates and his consortium hell-bent on changing the world economy. They have used the coronavirus as a ploy to shut down the world economy all for their Climate Change Agenda. There is a mountain of […]
Globalists Reveal That The “Great Economic Reset” Is Coming In 2021
Globalists Reveal That The “Great Economic Reset” Is Coming In 2021 For those not familiar with the phrase “global economic reset”, it is one that has been used ever increasingly by elitists in the central banking world for several years. I first heard it referenced by Christine Lagarde, the head of the IMF at the time, […]
The Fed Just Admitted It Won’t Stop Printing Money For YEARS… Here’s How to Profit From This
The Fed Just Admitted It Won’t Stop Printing Money For YEARS… Here’s How to Profit From This The Fed will soon be buying stocks. Earlier this week, the Fed announced that it will begin buying corporate bonds from individual companies. Before this announcement, the Fed was already involved in the: The Treasury markets (US sovereign […]
An Epically Bad Week for US Brick-and-Mortar Retailers and Landlords
An Epically Bad Week for US Brick-and-Mortar Retailers and Landlords Winners in this crisis: Ecommerce – for retailers that don’t sell men’s office & formal wear – and for sure, lawyers. Tailored Brands, a holding company for men’s apparel stores, including Men’s Wearhouse and JoS. A. Bank, is considering filing for bankruptcy, according to sources cited by Bloomberg on June […]
If Stocks Don’t Hold Here We Could See Another Crash of Sorts
If Stocks Don’t Hold Here We Could See Another Crash of Sorts Stocks have fallen hard over the weekend again. The media is pinning this drop on the potential for another COVID-19 pandemic, but the facts don’t support that theory. At times like these, it’s essential to ignore narratives, and focus on price. With that […]
Canadian Banks Hit Hard By Low Oil Prices
Canadian Banks Hit Hard By Low Oil Prices Canada’s government has been perhaps surprisingly ready to help the country’s ailing oil industry. Interest-only loans, backstopping loans that troubled companies can’t pay have been among the steps taken so far. But they may not be enough. Canada’s oil industry has arguably suffered more than its peers across its […]
US Money Supply – The Pandemic Moonshot
US Money Supply – The Pandemic Moonshot Printing Until the Cows Come Home… It started out with Jay Powell planting a happy little money tree in 2019 to keep the repo market from suffering a terminal seizure. This essentially led to a restoration of the status quo ante “QT” (the mythical beast known as “quantitative […]
America Convulses in Pain, Fed Bails Out the Wealthy
America Convulses in Pain, Fed Bails Out the Wealthy What’s so insidious about the Fed’s bailouts of investors in hedge funds, mortgage-REITS, stocks, bonds, leveraged loans, and other often risky assets? The destruction of capitalism. By Wolf Richter. This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. You can listen to it […]
Weekly Commentary: Extraordinary Q1 2020 Z.1 Flow of Funds
Weekly Commentary: Extraordinary Q1 2020 Z.1 Flow of Funds Financial crisis erupted in March. The Fed slashed rates at a March 3rd emergency meeting – and then began aggressively expanding its holdings/balance sheet (creating market liquidity). Even from a “flow of funds” perspective, it was one extraordinary quarter. Total Non-Financial Debt (NFD) surged a nominal […]
The Fed Just Pulled Off Another Backdoor Bailout of Wall Street
The Fed Just Pulled Off Another Backdoor Bailout of Wall Street Source: Federal Reserve. The Federal Reserve has authorized 11 financial bailout programs thus far. Despite Fed Chairman Jerome Powell’s reassurances at his press conferences that these programs are to help American families, a full 10 of these programs are actually bailouts of Wall Street […]
