Latest Articles: Business/Finance
A Brady Bond Solution for America’s Economic Crisis and Unpayable Corporate Debt
Post Date: 2020-03-26 08:17:30 by Ada
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Even before the Covid-19 crisis had slashed stock prices nearly in half since it erupted in January, financial markets were in an inherently unstable condition. Years of quantitative easing had loaded so much money into stock and bond prices that stock price/earnings multiples and bond prices were far too high by any normal and reasonable historical standards. Risk premiums have disappeared, with only a few basis points separating U.S. Treasury bills and corporate bonds. The Fed’s Quantitative Easing since 2008 plus large companies using their earnings for stock buybacks drove the prices of financial assets into a realm of unreality. The result was that markets already were teetering ...
Bank of America Follows Media's Lead, Jumps the Gun and Tells Clients America Is in a Recession
Post Date: 2020-03-25 20:38:36 by BTP Holdings
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Bank of America Follows Media's Lead, Jumps the Gun and Tells Clients America Is in a Recession In Middle of COVID Panic, Bank of America Stokes More Fear With Outrageous Announcement Volume 90% By C. Douglas Golden Published March 23, 2020 at 12:33pm Is the economic news grim in these days of coronavirus? Absolutely. As of Monday morning, the Dow Jones futures had been down hundreds of points, and then up hundreds of points on the news the Federal Reserve was authorizing limitless asset purchases. That wasn’t good enough for some market watchers. “While the Fed’s actions are an enormous help, the only way the markets are going to find sustainable ...
Trump Ready, It’s Time To Move This Economy - Episode 2130a
Post Date: 2020-03-25 06:32:49 by BTP Holdings
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Join the X22 Report On Steemit: https://steemit.com/@x22report Get economic collapse news throughout the day visit http://x22report.com Report date: 03.24.2020 The [CB] is continuing with their agenda. Push the global economy into a depression. This is the coverup. Trump is ready to turn the entire economic system around, he has the [CB] exactly where he wants them. They will be completely exposed when the system starts to come down.
Bank of America Follows Media's Lead, Jumps the Gun and Tells Clients America Is in a Recession
Post Date: 2020-03-24 23:40:38 by BTP Holdings
2 Comments
Bank of America Follows Media's Lead, Jumps the Gun and Tells Clients America Is in a Recession In Middle of COVID Panic, Bank of America Stokes More Fear With Outrageous Announcement Volume 90% By C. Douglas Golden Published March 23, 2020 at 12:33pm Is the economic news grim in these days of coronavirus? Absolutely. As of Monday morning, the Dow Jones futures had been down hundreds of points, and then up hundreds of points on the news the Federal Reserve was authorizing limitless asset purchases. That wasn’t good enough for some market watchers. “While the Fed’s actions are an enormous help, the only way the markets are going to find sustainable ...
Goldman Sachs says it is time to buy gold — the ‘currency of last resort’
Post Date: 2020-03-24 19:44:53 by Ada
1 Comments
The current coronavirus-induced economic and financial market turmoil is seemingly the perfect environment for gold. “We have long argued that gold is the currency of last resort, acting as a hedge against currency debasement when policy makers act to accommodate shocks such as the one being experienced now,” said analysts at Goldman Sachs led by Jeffrey Currie. Yet while the yellow metal GC00, 1.861% has done far better than other assets, it has slipped 2% over the last month. The Goldman analysts, with a 12-month price target of $1800 an ounce, said that is about to change, thanks to the Federal Reserve’s aggressive bond purchase plan unveiled on Monday, in which the ...
Mnuchin Warns Virus Could Yield 20 Percent Jobless Rate Without Action
Post Date: 2020-03-23 18:19:19 by BTP Holdings
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Mnuchin Warns Virus Could Yield 20 Percent Jobless Rate Without Action Treasury Secretary Steven Mnuchin delivers remarks on the coronavirus relief package after the Senate Republican Policy luncheon in Washington on Tuesday. (Tom Williams/CQ Roll Call via AP Images) Tuesday, 17 March 2020 08:26 PM Treasury Secretary Steven Mnuchin raised the possibility with Republican senators that U.S. unemployment could rise to 20% without government intervention because of the impact of the coronavirus, according to people familiar with the matter. Mnuchin discussed the scenario with the lawmakers on Tuesday as he proposed an economic stimulus of $1 trillion or more. He told the senators that he ...
BofA Calls For “War-Time Measures”, Urges Near-Total Fed Takeover Of Capital Markets
Post Date: 2020-03-23 13:38:49 by BTP Holdings
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BofA Calls For “War-Time Measures”, Urges Near-Total Fed Takeover Of Capital Markets March 23, 2020 from ZeroHedge: Last Sunday, when the Fed threw what appeared to be the kitchen sink at crashing markets, cutting rates to 0%, unveiling a $700BN QE (since expanded to include another $100BN in MBS), and enhancing G-5 central bank FX swap lines (since expanded to include numerous non-G5 banks), many wondered why the Fed withheld the one instrument considered critical in restoring market stability, preventing the commercial paper market from seizing up and preventing mutual fund runs, namely a commercial paper backstop facility. Then, just 48 hours later, the Fed did just that as ...
This Is Not A Recession. This Is A Government Imposed Shutdown Of The Private Sector.
Post Date: 2020-03-23 04:20:06 by Bill D Berger
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Economists and Wall Street analysts are using the word recession to describe the looming plunge in output in the US economy. We’ll just make the point early that economists, exhibiting the typical emptiness of their failed science, can’t even agree on the definition of recession.Undeterred by lacking a definition, the geniuses at Goldman Sachs and elsewhere ion Wall Street are unrestrained in predicting the imminent arrival of the condition they can’t describe.As is always the case, people understand the condition that economists can’t even describe in theory. They understand the lost jobs and wages, the reduction in activity at the businesses where they work, fewer ...
Why is the (Gold) price falling?
Post Date: 2020-03-22 10:19:20 by Esso
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Why is the price falling? In response to my update yesterday - Demand Shock: The Forces Behind Rising Premiums - many of you sought to know an answer to the question: why are prices falling if demand is so unprecedented? I will seek to explain below. To clarify, yesterday I wrote about premiums; today I am writing about “spot price.” What Is The Spot Price? The spot price of gold is the price of one ounce of gold as contained within 100 and 400-ounce gold bars traded on the commodities exchange at current market prices. For silver, it is the price of one ounce of silver as contained within a 1,000-ounce silver bar traded on the commodities exchange at current market prices. ...
Trump Just Revealed The New Economy Is Going To Be Incredible - Episode 2127a
Post Date: 2020-03-22 09:21:08 by BTP Holdings
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Get economic collapse news throughout the day visit x22report.com Report date: 03.20.2020 Trump and the patriots are now moving forward with the new economy, removing all the road blocks shifting the entire world from a [CB] system to a people driven economy. He is removing regulations, taxes, etc. to help the everyday person. Trump revealed that the new economic system is going to be incredible.
Trump Just Revealed The New Economy Is Going To Be Incredible - Episode 2127a
Post Date: 2020-03-20 19:28:48 by BTP Holdings
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Get economic collapse news throughout the day visit x22report.com Report date: 03.20.2020 Trump and the patriots are now moving forward with the new economy, removing all the road blocks shifting the entire world from a [CB] system to a people driven economy. He is removing regulations, taxes, etc. to help the everyday person. Trump revealed that the new economic system is going to be incredible.
Trump Just Dropped The Economic Hammer, It Has Begun - Episode 2125a
Post Date: 2020-03-19 14:31:58 by BTP Holdings
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Get economic collapse news throughout the day visit x22report.com Report date:03.18.2020 The economic storm is here, the market continue to make huge swings down and up. China is losing the economic power as the US becomes stronger. The IRS does not want to extend the tax period, [CB] not controlled. Trump now unleashed the economic hammer, the economy is now turning.
Will Trump Defuse the Coming Debt Deflation Bomb?
Post Date: 2020-03-19 08:25:45 by Ada
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Trillions in global debt could default, while the economic cleanup from COVID-19 could take much longer than anticipated. The mounting wreckage in the global economy as a result of the COVID-19 pandemic that began in Wuhan, China, is quickly surpassing the damage seen after the 2008 financial crisis. The good news of sorts is that the banking and payments system is strong and in no immediate danger of the sort of liquidity problems that brought the global economy to its knees more than a decade ago. The bad news is that just about every other major business is suffering from reduced sales volumes and activity levels. Many companies are being forced to lay off people and close ...
The Fed Has Sufficient Tools — To Wreck the Economy
Post Date: 2020-03-18 10:11:46 by Ada
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n its emergency announcement on Sunday evening, the Fed assured us that it “is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.” The Fed put its (fiat) money where its mouth is by announcing a host of programs. It cut its target interest rate by 1% to zero and re-instituted quantitative easing, pledging to purchase $700 billion worth of Treasury securities and agency mortgage-backed securities over the coming months. This is in addition to $1.5 trillion of temporary overnight and term repurchase operations it announced two days ago. Separately, the Fed issued a ...
All Procedures In Place For The Economic Transition, Big Shift Coming - Episode 2124a
Post Date: 2020-03-18 07:46:51 by BTP Holdings
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Get economic collapse news throughout the day visit x22report.com Report date: 03.17.2020 What we are witnessing is the great transition, the entire economic system is shifting, supply chains are changing, the push to remove and expose the [CB] is now in process. Trump and the patriots are helping as many business and people to get thru the transition, a big shift is coming, but in the end the economy is going to be amazing. Poster Comment:The banksters are the main problem. Kill the virus among us.
Limit Down!
Post Date: 2020-03-18 05:27:37 by Esso
4 Comments
Looks like it's gonna be another rough day in the markets. Oil's well below $30. That's good for us peons. That won't be allowed to stand. Oil wants to be ~$55-60/bbl. Enjoy it while you can. Poster Comment:Holy shit, this IS the zombie apocalypse!
Medical company threatens to sue volunteers that 3D-printed valves for life-saving coronavirus treatments
Post Date: 2020-03-17 23:06:01 by Anthem
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A medical device manufacturer has threatened to sue a group of volunteers in Italy that 3D printed a valve used for life-saving coronavirus treatments. The valve typically costs about $11,000 from the medical device manufacturer, but the volunteers were able to print replicas for about $1 (via Techdirt). A hospital in Italy was in need of the valves after running out while treating patients for COVID-19. The hospital’s usual supplier said they could not make the valves in time to treat the patients, according to Metro. That launched a search for a way to 3D print a replica part, and Cristian Fracassi and Alessandro Ramaioli, who work at Italian startup Isinnova, offered their ...
Silver hits low of $11.30
Post Date: 2020-03-16 13:57:46 by Pinguinite
15 Comments
... as of today. Amazing. I thought going down to $14 oz would be a strong pullback. Of course I strongly doubt any physical silver could go that low. Is a decoupling event of paper to physical silver prices neigh?
Economic Effect of Coronavirus Could Be Revolutionary
Post Date: 2020-03-15 20:02:23 by Ada
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Coronavirus and globalism will teach us vital lessons. The question is whether we can learn vital lessons that do not serve the ruling interest groups and ideologies. Coronavirus will teach us that a country without free national health care is severely handicapped. Millions of Americans live paycheck to paycheck. They cannot afford health care premiums, deductions, and copays. Millions have no insurance. This means millions of people infected with coronavirus who cannot get medical help. The morbidity from this is intolerable in any society. Shutdowns associated with efforts to contain the spread of coronavirus will deny income to millions of Americans who live paycheck to paycheck. ...
'Grotesque Level of Greed': Owned by World's Richest Man Jeff Bezos, Whole Foods Wants Workers to Pay for Colleagues' Sick Leave During Coronavirus Pandemic
Post Date: 2020-03-15 08:47:11 by Anthem
2 Comments
A general view of people shopping in the egg and dairy case on March 13, 2020 at Whole Foods Market in Vauxhall, New Jersey. (Photo: Rich Graessle/Icon Sportswire via Getty Images)When progressives like Sen. Bernie Sanders say "now is the time for solidarity" amid the coronavirus outbreak, they likely do not mean that employees of Whole Foods—owned by the world's richest man, Jeff Bezos—should be asked to give their own accrued paid sick days to their co-workers who have either contracted the deadly virus or been forced to take time out of work because of what is now a global pandemic. But that is exactly what executives with the grocery chain are asking its ...
Our Neo-Feudal System Is on the Verge of Collapse
Post Date: 2020-03-15 08:44:44 by Ada
2 Comments
Public Banking Institute Podcast Michael Hudson: [00:00:00] There’s recognition that commercial banking has become dysfunctional and that most loans by commercial banks are either against assets – in which case the lending inflates the prices of real estate, stocks and bonds – or for corporate takeover loans. The economy’s low-income brackets have not been helped by today’s financial system. Here in New York City, red lining and a visceral class hatred by high finance toward the poor characterized the major banks. From the very top to the bottom, they were very clear they were not going to lend to places with racial minorities like the Lower East Side. The Chase ...
Mnuchin floats suspending student loan payments as part of pandemic economic response
Post Date: 2020-03-14 20:29:44 by BTP Holdings
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Mnuchin floats suspending student loan payments as part of pandemic economic response by Jay Heflin | March 13, 2020 09:32 AM Treasury Secretary Steven Mnuchin said Friday that the administration is considering a three-month suspension for student loan payments to help shore up the economy as it is hit by the fallout from the coronavirus pandemic. "I can tell you that's on our list of 50 different items we're bringing to the president for a decision. So that will be something we're looking at," Mnuchin told CNBC. The proposal would only suspend payments on what students owe. It would not reduce the amount owed. Aggregate student debt exceeds $1.6 trillion, ...
Your 12-Point ‘Great Depression II’ Survival Guide
Post Date: 2020-03-14 15:15:34 by BTP Holdings
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Your 12-Point ‘Great Depression II’ Survival Guide March 14, 2020 151 Authored by MN Gordon via EconomicPrism.com, Bull Market RIP And just like that – after a magnificent 11 year run – the bull market in U.S. stocks is dead. From its peak close of 29,551 on February 12 through yesterday’s [Thursday] close of 21,200, the Dow Jones Industrial Average (DJIA) has dropped over 28 percent – in just 30 days! RIP. Death may mark the end. The completion of the circle of life. But it also marks the beginning of something new. The death of the bull market, for example, marks the birth of a new bear market. By our estimation, the DJIA must fall an additional 30 ...
Economic Positioning Almost Complete, The Countdown Begins - Episode 2121a
Post Date: 2020-03-14 13:58:07 by BTP Holdings
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Get economic collapse news throughout the day visit x22report.com Report date:03.13.2020 What we have been witnessing is the greatest transfer of wealth of the [Elite], Think Soros and others, watch the market, tick tock. The [CB] is now completely exposed. Trump and the patriots are now moving very quickly on transitioning the economy, the new economic system is almost complete. Right on schedule Trump points the finger at the Fed, lower rates and more stimulus.
Capitalism Is the Disease
Post Date: 2020-03-14 10:00:41 by Ada
1 Comments
The federal reserve recently announced a $1.5 trillion dollar coronavirus “stimulus” package, $500 billion of which will go to incentivize banks to keep lending. Another maneuver, cutting Federal Reserve interest rates from an already low amount to effectively 0%, means big banks will be handed the equivalent of interest-free cash under the assumption that they will keep America’s heavily in-debted corporations afloat. But where is the evidence that bank bailouts do that? It took a decade for the 2008 bank bailouts to finally “work” – as in put sufficient numbers of people back to work. A more pressing question is why do ordinary people need to pay interest ...
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