{"id":52780,"date":"2020-04-25T18:36:57","date_gmt":"2020-04-25T23:36:57","guid":{"rendered":"https:\/\/olduvai.ca\/?p=52780"},"modified":"2020-04-25T18:37:04","modified_gmt":"2020-04-25T23:37:04","slug":"weekly-commentary-fault-lines","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=52780","title":{"rendered":"Weekly Commentary: Fault Lines"},"content":{"rendered":"\n

Weekly Commentary: Fault Lines<\/a><\/h3>\n\n\n\n

Now on a weekly basis, we’re witnessing things that couldn\u2019t happen \u2013 actually happen.<\/p>\n\n\n\n

April 20 \u2013 Bloomberg (Catherine Ngai, Olivia Raimonde, and Alex Longley): \u201cOf all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday\u2019s collapse in a key segment of U.S. oil trading. The price on the futures contract for West Texas crude that is due to expire Tuesday fell into negative territory — minus $37.63 a barrel.\u201d<\/p>\n\n\n\n

For posterity, the latest numbers on U.S. monetary inflation: Federal Reserve Assets expanded $205 billion last week to a record $6.573 TN. Fed Assets surged $2.307 TN, or 56%, in just seven weeks. Asset were up $2.645 TN over the past 33 weeks. M2 “money” supply surged $125bn last week to a record $16.870 TN, with an unprecedented seven-week expansion of $1.362 TN. M2 inflated $2.329 TN, or 16.0%, over the past year. Institutional Money Fund Assets (not included in M2) jumped $123 billion last week. Over seven weeks, Institutional Money Funds were up $845 billion. Combined, M2 and Institutional Money Funds jumped a staggering $2.207 TN over seven weeks ($100bn less than the growth of Fed Assets).<\/p>\n\n\n\n

It’s increasingly clear this pandemic is striking powerful blows at the most fragile Fault Lines \u2013 within communities, regions, societies, nations as well as for the world order. To see this disease clobber the most vulnerable ethnic groups and the downtrodden only compounds feelings of inequality, injustice and hopelessness. It is as well stunning to watch COVID-19 hasten the partisan brawl. A nation terribly divided is split only more deeply on the process of restarting the economy. To witness rival global superpowers plunge further into accusation and enmity. And to see the coronavirus viciously attack Europe\u2019s fragile periphery, further splitting a hopelessly divided Europe and pressuring a critical global Fault Line.<\/p>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Weekly Commentary: Fault Lines Now on a weekly basis, we’re witnessing things that couldn\u2019t happen \u2013 actually happen. April 20 \u2013 Bloomberg (Catherine Ngai, Olivia Raimonde, and Alex Longley): \u201cOf all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday\u2019s collapse in a key […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[49,83,7756,16861,303,538],"class_list":["post-52780","post","type-post","status-publish","format-standard","hentry","category-economics","tag-balance-sheet","tag-bloomberg","tag-credit-bubble-bulletin","tag-doug-noland","tag-fed","tag-money-printing"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52780"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52780\/revisions"}],"predecessor-version":[{"id":52781,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52780\/revisions\/52781"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}