It was the first contraction since at least 1992.
Year: 2020
Are Emerging Markets ‘The Next Imminent Disaster’ In Pandemic? Marko Kolanovic Answers
The “next shoe to drop”? Maybe not. And here’s why.
‘Opening Up America Again’: Here Are Trump’s Multi-Phase State Guidelines For Lifting Virus Lockdown
The plan is loosely named after the president’s campaign slogan.
A Decade Of Jobs Just Vanished In America’s ‘Induced Coma’. And Steve Mnuchin Has ‘Bridge Liquidity’
“…if the amount of ‘oxygen’ is insufficient, some parts of the economy will suffer irreparable damage.”
Volatility Saved Wall Street In The First Quarter. Now Comes The Hard Part
“…the same negative impacts [but] without the potential benefit of higher client trading activity.”
22 Million In Four Weeks: America’s Jobless Crisis Spirals
Remember: There are real people behind these numbers.
Philly Fed Gets Rocky
The readily apparent malaise notwithstanding, hope floats.
Don’t Trade The Data. And Don’t Do ‘That Dinner Party For 20’
“…sobering economic realities are increasingly driving the moves in asset prices”.
Depressions Used To Mean Something.
“Black & white memories”.
As Banks Provision For Storm, Shoppers Storm Stores For Provisions
Hunkering down, energy exposure and a future without bacon.
‘Black April’ And ‘The Worst Year In The History Of Global Oil Markets’
“…demand in 2020 will fall by 9.3 million barrels a day, erasing almost a decade of growth.”
The Fundamentals Are Sound: Industrial Collapse Edition
The market is supposed to “look through” all of this.
Goldman’s Traders Ride To Rescue, Offsetting Massive Loss In Investment Arm
“I’m firmly convinced that [Goldman] will emerge well-positioned.”
Coronavirus Makes Its Mark On Bank Of America As Loss Provisions, Revolver Draws Surge
“Despite increasing our loan loss reserves, we earned $4 billion this quarter.”
Howard Marks Has Lots To Say About Bailouts And Moral Hazard. So, I’ll Bite.
“Most of us believe in the free-market system as the best allocator of resources.”
Trump Halts Funding For World Health Organization. Says WHO ‘Caused So Much Death’
“The outbreak could have been contained at its source with very little death.”
Harley Bassman: Fed Now Risks ‘Eroding The Basic Foundation Of Capitalism’
“It is never different this time.”
The Writing Was On The Wall. Pandemic Or No Pandemic, This Recession Was Coming.
“…there have always been shocking triggers behind major economic crises.”
Trump Likens Himself To Captain Bligh, Governors To ‘Mutineers’, In Bounty Blunder
“A good old fashioned mutiny every now and then is an exciting and invigorating.”
‘Since 9/11’: 93% See Global Recession In BofA Survey As Cash Levels Surge To 20-Year High
Respondents see a “U-shaped” recovery, not a “V-shaped” miracle.Â
‘We Now Encounter A Grim Reality’: IMF Sees Worst Downturn Since Depression In ‘The Great Lockdown’
“This crisis is like no other.”
JPMorgan Reports 69% Drop In Net Income As ‘Likely Severe Recession’ Prompts $6.8 Billion Reserve Build
“The first quarter delivered some unprecedented challenges.”
‘There’s No Such Thing As A Free Market.’ Imagine A Future Where Asset Prices Are Administered
Call it a requiem. Or a pseudo-lament. Or maybe just an obituary dressed up as
Against The Gods: ‘Historically A Losing Proposition’
“Unhindered by moral hazard”…
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