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Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil War
Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil War President Donald Trump is considering all options available to him to make the Saudis pay for the oil price war as the crash that followed has done significant damage to the U.S. oil industry With last month having seen the indignity of […]
Now is the time to end the climate emergency
Now is the time to end the climate emergency Reading “The Green New Deal and beyond” in the middle of a global crisis In The Green New Deal and Beyond: Ending the Climate Emergency While We Still Can, Stan Cox has a message for all who were counting on the Green New Deal to help save […]
Finally, It Matters What The Fed Can And Can’t Print
Finally, It Matters What The Fed Can And Can’t Print Sound money advocates have been proclaiming that “the Fed can’t print gold” pretty much since the end of the last gold standard in 1971. But no one outside our little echo chamber paid attention, fixating instead on what the Fed could print: trillions of dollars that were […]
Insuring against catastrophe: The coronavirus predicament
Insuring against catastrophe: The coronavirus predicament People insure themselves against many types of potential catastrophes: a house fire, a car accident, the untimely death of a spouse, a serious health problem. For other unexpected expenses, prudent people, as we say, save money “for a rainy day.” For some reason people and governments have chosen not […]
No, This Is Not Another 1929, 1973, 1987, 2000, or 2008
No, This Is Not Another 1929, 1973, 1987, 2000, or 2008 Basing one’s decisions on analogs from the past is entering a fool’s paradise of folly. Like addicts who cannot control their cravings, financial analysts cannot stop themselves from seeking some analog situation in the past which will clarify the swirling chaos in their crystal […]
“It Will All End Badly” The Coming Economic End Game
“It Will All End Badly” The Coming Economic End Game The wonderful thing about numbers is that when they are not jockeyed, jerked around, and falsified they tend to tell the truth. Continuing on this thought looking down the road the numbers do not work. This is where the late, Allen Meltzer, recognized for his […]
Market Update: The Battle For Control
Market Update: The Battle For Control Which side will prevail in the markets going forward? Reality or rescue? As more data pours in showing the severe and worsening contraction of the global economy due to the impact of covid-19, it’s becoming increasingly clear that the only thing propping up today’s financial markets is the $trillions […]
In 2020 Oil-Exporters’ Income Will Plunge By Over $1 Trillion, Forcing Widespread Stock Liquidations
In 2020 Oil-Exporters’ Income Will Plunge By Over $1 Trillion, Forcing Widespread Stock Liquidations While any other time the plunge of WTI prices into negative territory last Monday would have been the story of the year, the fact that the financial press has already moved on and is focusing on whatever 100-sigma event du jour has hit, […]
Capitalism on Life Support… Time for a Cure
Capitalism on Life Support… Time for a Cure The Covid-19 pandemic is unleashing obscene bailouts of Western industries and companies, as well as lifelines for billionaire business magnates. It is grotesque that millions of workers are being laid off by corporations which are in turn receiving taxpayer funds. Many of these corporations have stashed trillions […]
Weekly Commentary: Fault Lines
Weekly Commentary: Fault Lines Now on a weekly basis, we’re witnessing things that couldn’t happen – actually happen. April 20 – Bloomberg (Catherine Ngai, Olivia Raimonde, and Alex Longley): “Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key […]
Oil Price Crash Was Inevitable
Oil Price Crash Was Inevitable The oil price crash was inevitable. To understand why we have to review a bit of history. In 2013, I began warning of the risk to oil prices due to the ongoing imbalances between global supply and demand. Those warnings fell on deaf ears. Nobody wanted to pay much attention […]
David Stockman on the Real Reason Why the Government Shutdown Caused an Economic Collapse
David Stockman on the Real Reason Why the Government Shutdown Caused an Economic Collapse International Man: Is the government’s reaction to COVID-19 worse than the virus itself? What are your thoughts? David Stockman: I think for once, Donald Trump was right when he worried out loud the other day that the cure may be far […]
Postmortem of the Infamous Day WTI Crude Oil Futures Went to Heck in a Straight Line
Postmortem of the Infamous Day WTI Crude Oil Futures Went to Heck in a Straight Line The US Energy Information Agency (EIA) dissects the historic event. “It’s not often that we’re served up a WTF moment like this,” I wrote on April 20, when the May contract for crude-oil benchmark-grade West Texas Intermediate (WTI) plunged to […]
Fed Cut Back on Helicopter Money for Wall Street & the Wealthy
Fed Cut Back on Helicopter Money for Wall Street & the Wealthy Tapered QE-4 Further, Still Hasn’t Bought Junk Bonds or ETFs, Was Just Jawboning. Total assets on the Fed’s balance sheet rose by $205 billion during the week ending April 22, to $6.57 trillion. Since the week ending March 11, when the bailout of the Everything […]
Ignoring US Alarms, Alberta Meat Packers Spawned Canada’s Biggest Outbreak
Ignoring US Alarms, Alberta Meat Packers Spawned Canada’s Biggest Outbreak As the virus gripped US plants, the union pleaded for a shutdown. They were rebuffed. Canada’s largest outbreak of COVID-19 swept through two meat-packing plants in southern Alberta two weeks after the provincial government ignored union requests to temporarily close both of the plants. And […]
