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Fed Launches Repo Facility To Provide Dollars To Foreign Central Bank
Fed Launches Repo Facility To Provide Dollars To Foreign Central Bank With US dealers no longer using the Fed’s repo facilities (this morning we had another “no bid” overnight repo with just $250MM in MBS submitted for a $500 billion op) as the Fed soaks up all securities via its aggressive QE which is still […]
“The Biggest Decline Ever”: Goldman Now Sees US GDP Crashing 34% In Q2
“The Biggest Decline Ever”: Goldman Now Sees US GDP Crashing 34% In Q2 Just over a week ago, when we reported on the ongoing feud between Goldman and JPM to come up with the most terrifying GDP forecast for the US, and when we asked if a Second Great Depression has begun after Goldman’s chief economist Jan […]
“This Could Turn Violent” – Italian Officials Fear South Turning Into A Powder Keg
“This Could Turn Violent” – Italian Officials Fear South Turning Into A Powder Keg Signs of social unrest in major Western cities could be developing over the next few weeks, and as we previously warned last Friday, a global depression with high unemployment could unleash a “social bomb” in European countries and or North America. […]
Will Coronavirus End the Fed?
Will Coronavirus End the Fed? September 17, 2019 was a significant day in American economic history. On that day, the New York Federal Reserve began emergency cash infusions into the repurchasing (repo) market. This is the market banks use to make short-term loans to each other. The New York Fed acted after interest rates in […]
Peter Schiff: Americans Are in For a Rude Awakening
Peter Schiff: Americans Are in For a Rude Awakening All eyes have been on the stock market in recent weeks as it has reflected the fears about the coronavirus-induced economic shutdown and the hopes of massive stimulus. It’s been quite a rollercoaster ride. But in his podcast on March 27, Peter Schiff said there’s an […]
Jim Grant Warns Fed’s ‘All-In’ Actions Are A “Clear-And-Present-Danger” To US Creditors
Jim Grant Warns Fed’s ‘All-In’ Actions Are A “Clear-And-Present-Danger” To US Creditors In a veritable treatise on all that was wrong with The Fed’s actions, Jim Grant – founder and editor of Grant’s Interest Rate Observer – was somehow allowed nine minutes on CNBC’s Squawk Box to put America straight on what we are facing […]
Energy Collapse, Earnings Ennui, & Consumer Credit Cracks
Energy Collapse, Earnings Ennui, & Consumer Credit Cracks Summary: The energy sector has lost extraordinarily $1.15trn in market value this year as oil prices have plunged to almost unimaginable levels. In this equity update we provide investors with different ways to play the havoc in the energy sector. We also take a look at earnings this week […]
What Will Be the Unintended Consequences of Printing Trillions of Dollars to Backstop the Entire System?
What Will Be the Unintended Consequences of Printing Trillions of Dollars to Backstop the Entire System? Stocks are up somewhat this morning. This marks the second Monday stocks will open in the green (last Monday was a green open as well) following two horrifically bad weekend sessions that saw stocks open limit down or close […]
“This Is The Largest Economic Shock Of Our Lifetimes”: Goldman Sees Negative Prices Amid Oil Devastation
“This Is The Largest Economic Shock Of Our Lifetimes”: Goldman Sees Negative Prices Amid Oil Devastation Over the weekend, we reported that with the oil industry oversupplied by a mindblowing 20 million barrels daily as roughly 20% of total global output ends up unused in a world economy that has ground to a halt, and instead has to be […]
The Post-Coronavirus World Will Be Far Worse Than the Pre-Coronavirus World
The Post-Coronavirus World Will Be Far Worse Than the Pre-Coronavirus World Signs, especially in the United States, are that the post-coronavirus-plagued world will have even more inequality of wealth, within each nation, than existed prior to the plague. Billionaires are demanding to be included in the bailouts by their governments; and, because billionaires financed the […]
Destroying the Economy is not a Social Policy
Destroying the Economy is not a Social Policy The economy is the heart of the social body. If we shut down the heart of an organism to safeguard the hands and brain, the body dies. The data on deaths and infected from the Covid-19 coronavirus epidemic is alarming. Let us remember the deceased, the infected […]
