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Banks are going to drown in an ocean of defaults
Banks are going to drown in an ocean of defaults On November 6, 2000, then US presidential candidate George W. Bush told a crowd of cheering supporters, “they misunderestimated me.” Now, if English is not your native language, allow me to clear the air: ‘misunderestimate’ is not a word. But then again, George W. Bush […]
Peter Schiff: These Markets Are Rigged
Peter Schiff: These Markets Are Rigged US stock markets enjoyed another Tuesday rebound with the announcement of even more monetary stimulus from the Fed and the hope of government fiscal stimulus and bailouts. In his podcast, Peter Schiff said this should make it crystal clear that the government and central bank are rigging the markets. […]
The House that Ben Built
The House that Ben Built Yes, this collapse does portend to be far worse than the last and it’s a very different type of financial collapse too. After credit markets froze in the subprime crash of 2008-2009 Ben Bernanke and the Fed conjured up a number of monetary tricks to keep the system afloat. POMO, […]
Italian Debt Crashes Prompting ECB Intervention
Italian Debt Crashes Prompting ECB Intervention Welcome to the brave new world of a helicopter money, aka the Magic Money Tree (MMT), where everything is crashing and nowhere more so than in Europe, which having made a dramatic U-turn on its historic fiscal stinginess, and where a flood of debt is now expected, bond yields […]
The Insanity Continues: Futures Crash Limit Down, S&P Indicated 6% Lower
The Insanity Continues: Futures Crash Limit Down, S&P Indicated 6% Lower After surging 6% yesterday, with the Dow briefly rising more than 1,000 point, traders once again got a reminder of what record high VIX means when overnight futures crashed again – despite the Fed’s launch of two Lehman-era crisis facilities, the PDCF and the […]
The Demise of the Financial System is Imminent
THE DEMISE OF THE FINANCIAL SYSTEM IS IMMINENT “Next five years is not about winning but surviving.” This is the headline of an article I wrote in early August 2019. At that point I was primarily thinking of economic survival. But now the world is facing multiple threats and multiple failures. As I have already stated, […]
Oil Plunges To 17 Year Low As One Bank Predicts Negative Prices
Oil Plunges To 17 Year Low As One Bank Predicts Negative Prices Late on Tuesday, WTI plunged as low as $26.20 taking out the lows from the 2015/2016 oil recession, and sending it to a level last seen when US president was George W. Bush, people were listening to Get Busy by Sean Paul and […]
Covid-19 Helicopter Money: Go Big Now or Go Home
Covid-19 Helicopter Money: Go Big Now or Go Home This is why it’s imperative to go big now, and make plans to sustain the most vulnerable households and small employers not for two weeks but for six months–or however long proves necessary. That governments around the world will be forced to distribute “helicopter money” to […]
Globalists May Soon Become an Extinct Species
Globalists May Soon Become an Extinct Species The disruptions caused by the spread of the coronavirus mean supply chains will be moved closer to home rather than in foreign lands. The coronavirus’s depressing effects on the global economy and disruptions of supply chains is no doubt driving the last nail into the coffin of the globalists. […]
The Covid-19 Dominoes Fall: The World Is Insolvent
The Covid-19 Dominoes Fall: The World Is Insolvent Subtract their immense debts and they have negative net worth, and therefore the market value of their stock is zero. To understand why the financial dominoes toppled by the Covid-19 pandemic lead to global insolvency, let’s start with a household example. The point of this exercise is to […]
Ciruit-Breaker Halts US Stock Markets At Open 15 Mins
Ciruit-Breaker Halts US Stock Markets At Open 15 Mins US equity markets are opening down extremely hard this morning after futures traded limit-down from shortly after last night’s open. The 10% surge in stocks to end Friday and provide hope into the weekend has been decimated… And with the S&P 500 opening worse than 7% […]
“The World Has Changed” – What Was Our Biggest Mistake?
“The World Has Changed” – What Was Our Biggest Mistake? This is going to take time. Sorry to have to say it, but patience will be required and undoubtedly tested. By far the best thing that central banks can do is keep the global financial and funding markets functioning and not especially worry about whether the […]
IMF Prepares $1 Trillion Bazooka
IMF Prepares $1 Trillion Bazooka The IMF has just fired off a trillion-dollar “bazooka” of its own Monday morning. In a blog post published minutes ago, IMF Director Kristalina Georgieva issued three “policy prescriptions” that she said should define a “coordinated response” from the developed economies in Europe and the US. In addition to declaring that the […]
“Just Close The Whole Thing Up”: CNBC Anchors Melt Down, Beg For Market Closures On Twitter
“Just Close The Whole Thing Up”: CNBC Anchors Melt Down, Beg For Market Closures On Twitter Few are dealing with the economic and market turmoil with more chaos and less class and resolve than the expert “buy and hold” class over at CNBC, who shockingly never said one word of warning to their retail viewers […]
