“The package is coming in at about 10% of GDP. It’s very large”.
Category: economy
New York, London On Lockdown. Deaths In Italy Surge. More Banks See ‘Severe’ Global Recession
“If this doesn’t work, we’re going to keep doing it until we get this going”.
Goldman Sees Near Total Collapse: US Economy To Contract 24% In Q2, Jobless Claims To Hit 2.25 Million This Week
“A decline of this magnitude would be nearly two-and-a-half times the size of the largest quarterly decline in the history of modern GDP statistics”.
Restaurant Industry Flatlines, Jobless Claims Set For Exponential Spike As COVID Crisis Hits Home In America
“…do nothing more than ‘provide information using generalities”.
Don’t Call It A Reprieve.
The underlying economic reality is stark.
Ray Dalio: ‘We Have A Crisis. US Corporate Losses May Be $4 Trillion’
“What’s happening has not happened in our lifetime before”.
Mar-A-Lago Accord, Untradeable FX And The Dangers Of Shutting Markets
“FX remains untradeable”.
Bernanke, Yellen, Ackman Sound Alarm. Some Now See Virus As Existential Threat
We are, to put it bluntly, at a tipping point.
Steve Mnuchin Didn’t ‘Predict’ 20% Unemployment. It Was Just A ‘Mathematical Example’, Ok?!
I’m guessing “Great Depression II” wouldn’t poll well.
It’s Not Enough. It’s Just Not Enough.
The situation is fluid.
Empire Manufacturing Survey Plummets. March Drop Is Largest In History
And so, it begins.
‘This Is War’: Analysts Pile On As Virus Lockdowns Presage ‘Domino-Style Economic Collapse’
Not to put too fine a point on it, but it’s over.
Steve Mnuchin: The US Is Not In A Recession
“I expect we’ll have a big rebound later in the year.”
‘Economies Are In Lockdown’: Trump Tests Negative For Virus, Europe Shuts Down As Infections Soar
“We have not reached our peak”.
Limit-Up/Limit-Down Rolls On, As Germany Teases ‘Unlimited’ Economic Support
“We won’t do things by half-measures”.
ISM And The COVID Conundrum
The results were… well, not particularly inspiring.
The Most Irrelevant CPI Report In History?
Things have changed.
Christine Lagarde Has 2008 Déjà Vu (Mrs. Lancaster)
Good luck, Christine – you’re gonna need it.
‘Do We Need To Wait For Lehman?’: One Bank Calls For Urgent Action To Avert ‘Snowball-Earth’ Scenario
Suffice to say some folks are concerned – palpably.
Trump, Staring At Recession, Tips Payroll Tax Cut, ‘Dramatic’ Measures. Kelton Says ‘Run MUCH Bigger Deficits’
“I will be here tomorrow afternoon to let you know.”
Governments Can’t Minimize Both Virus Deaths And Economic Damage: The Lancet
“Governments will not be able to minimize both deaths from COVID-19 and the economic impact of viral spread.”
For One Bank, A Global Recession And A Bear Market Just Became The Baseline Forecast
“…it is much too early to declare this episode as being done.”
Virus News Worsens, Analysts Ponder ‘Severe’ Scenarios For US Economy
Of course, none of this means we should take Rick Santelli’s advice.
China Exports Sank 17% Amid Virus Lockdown, Delayed Data Shows
Ambiguity remains.
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