Loading ...US National Debt Spiked by $1 trillion in 5 weeks to $26 trillion. Fed monetized 65%. Business debts spike to high heaven.
The Bell Rings for San Francisco
by Brendan Connellan • Jun 12, 2020 • 239 Comments
The kids are jumping ship and they’re not coming back.
America Convulses in Pain, Fed Bails Out the Wealthy
by Wolf Richter • Jun 11, 2020 • 186 Comments
What’s so insidious about the Fed’s bailouts of investors in hedge funds, mortgage-REITS, stocks, bonds, leveraged loans, and other often risky assets? The destruction of capitalism (transcript of my podcast).
A Word About the Chaos in the Unemployment Data: Week 12 of the U.S. Labor Market Collapse
by Wolf Richter • Jun 11, 2020 • 78 Comments
No one was prepared for a collapse like this. The data are all over the place. Two government agencies differ by 9 million unemployed. The jobs crisis bottomed in May. But “over 30 million” people remain without work. Making sense of the chaos.
The Chilling Things Delta Said about the Airline Business, the 90% Collapse in Q2 Revenues, and Why Some Demand Destruction May Be “Permanent”
by Wolf Richter • Jun 10, 2020 • 128 Comments
Shares go to heck after the mother of all revenue-warnings, plunge 20% in two days, including 7% after hours. Its disclosure confirms Buffett’s decision to dump his airlines in mid-crash.
Tsunami of “Unsustainable” Business Loans to Hit Banks, City of London Grandees Warn
by Nick Corbishley • Jun 10, 2020 • 87 Comments
“Consideration may need to be given” to free money from taxpayers “to meet solvency or liquidity requirements,” but only “at the extreme end,” whatever that means.