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For Stocks & Bonds, Upside Surprise of Inflation and Interest Rates “Could Prove Nasty”: Dudley
For Stocks & Bonds, Upside Surprise of Inflation and Interest Rates “Could Prove Nasty”: Dudley Five reasons to “worry about faster inflation.” It’s “a greater danger precisely because it’s no longer perceived as such.” “Given how completely financial markets have come to expect low inflation and interest rates, and how much support those expectations are […]
“Monetizing Privacy”: The Fed Fans Out, Touting the “Digital Dollar.” This Time, How Consumers Would Benefit
“Monetizing Privacy”: The Fed Fans Out, Touting the “Digital Dollar.” This Time, How Consumers Would Benefit But the problemita of pulling the rug out from under the entire banking system still needs to be addressed. “As cash use continues to decline, the question naturally arises as to whether central banks should provide a digital alternative […]
State of the American Debt-Slaves, Q3 2020: The Stimulus & Forbearance Phenomenon
State of the American Debt-Slaves, Q3 2020: The Stimulus & Forbearance Phenomenon Auto loans jump after historic price spikes. Credit cards still in stimulus wonderland. Student-loan borrowers count on debt forgiveness, mmmkay. Consumers have undertaken an astounding project instead of consuming: Paying down their credit cards. In September, outstanding balances of credit cards and other […]
For Stocks, Any Election Outcome is Now the Best Outcome, Disputed Election, Long Legal Mess, Split Government Without Stimulus, Whatever…
For Stocks, Any Election Outcome is Now the Best Outcome, Disputed Election, Long Legal Mess, Split Government Without Stimulus, Whatever… This is funny in terms of stock-market “narratives” during these crazy times. At first, long ago, the narrative was that a Trump victory would boost stocks. And then when this became more uncertain, the narrative […]
What Oil Companies Face: The WTF-Collapse of Consumption of Gasoline & Jet Fuel from Long-Term Weakness
What Oil Companies Face: The WTF-Collapse of Consumption of Gasoline & Jet Fuel from Long-Term Weakness Transportation fuel demand rose to where it had been in … 1997. While the overall S&P 500 Index is down 2.7% in October, about flat for the three-month period, and up 2.8% for the year, the S&P 500 Energy […]
No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP
No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP GDP back to Q1 2018. Worst ever “net exports.” The decline in government spending was also a drag. “GDP per Capita” bounced back only to 2017 level. The […]
Fed Assets Eke Out New Record for First Time Since June 10. But Repos, Dollar Liquidity Swaps, SPVs Mothballed
Fed Assets Eke Out New Record for First Time Since June 10. But Repos, Dollar Liquidity Swaps, SPVs Mothballed Only Treasury securities and mortgage-backed securities (MBS) are still active. The Fed has now reduced to zero or to near-zero or essentially mothballed and thrown the towel in on three of its five QE and bailout […]
“Creative Destruction” or Just “Destruction?”
“Creative Destruction” or Just “Destruction?” Under the effects of the Pandemic, consumers and businesses grapple with their own “Reset.” This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. We’ve got the weirdest economy ever. A disputed number of people lost their jobs early on in the Pandemic, with figures ranging from […]
The Great American Oil & Gas Massacre: Bankruptcies Hit New Milestone as Bigger Companies Let Go
The Great American Oil & Gas Massacre: Bankruptcies Hit New Milestone as Bigger Companies Let Go The American Oil Boom Was Where Money Went to Die. The amount of secured and unsecured debts, such as loans and bonds, listed in bankruptcy filings in the third quarter by US oil and gas companies, at $34 billion, […]
What’s Behind the Fed’s Project to Send Free Money to People Directly?
What’s Behind the Fed’s Project to Send Free Money to People Directly? A lump-sum payment in digital dollars for all Americans during a recession or to raise inflation, as an alternative to QE and negative interest rates, which have failed. By Wolf Richter. This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. You […]
Have You Noticed How Push-Back Against Powell-Fed’s Actions Is Getting Louder in the Mainstream Media, from NPR to CNBC?
Have You Noticed How Push-Back Against Powell-Fed’s Actions Is Getting Louder in the Mainstream Media, from NPR to CNBC? Still a lot of fawning coverage, but big dissenters are now given prominent spots, and loaded questions are used to politely hammer Powell into telling obvious nonsense. This is an interesting turn of events, in a […]
The Zombie Companies Are Coming
The Zombie Companies Are Coming Easy money is a curse for capitalism. Through the first half of August – which is normally a quiet period for the bond market in the US – a total of $56 billion in junk bonds and leveraged loans were issued by junk-rated companies, according to S&P Global. That was […]
THE WOLF STREET REPORT: The Zombie Companies Are Coming
THE WOLF STREET REPORT: The Zombie Companies Are Coming “Easy money is a curse for capitalism.” You can also find the podcast on Apple Podcasts, Spotify, Stitcher, Google Podcasts, iHeart Radio, and others.
Shell’s Colossal Miscalculation in 2011 of Today’s LNG Price: Largest-Ever $12-$17-Billion “Floating Facility” Shut Down, Months After Shipping First LNG. Done in by Long Price Collapse
Shell’s Colossal Miscalculation in 2011 of Today’s LNG Price: Largest-Ever $12-$17-Billion “Floating Facility” Shut Down, Months After Shipping First LNG. Done in by Long Price Collapse Built to profit from sky-high LNG Prices in Japan. Sunk by surging US LNG Exports, multi-year collapse in LNG prices, global LNG glut. The Great East Japan Earthquake and […]
