“I want to take actions that will provide a concentrated, short-term boost in demand”.
Category: economy
Where’s The Floor?
“The scale of the policy panic is astonishing.”
Profits At China’s Industrial Firms Plunge A Laughable 38.3% Thanks To Annoying Virus
More smoldering wreckage.
Record Surge In Jobless Claims Suggests Unemployment Rate Rose More This Week Than Any Monthly Gain In US History
“[That] would raise the unemployment rate by more than half, by 2 percentage points from 3.5% to 5.5%, moving back to 2015 levels in just one weekâ€.
Mario Draghi: This Is A ‘Biblical’ Crisis. It’s ‘War’. Scrap The Rules, Cancel The Debt, Lend To Everyone Right Now.
“Much higher public debt levels will become a permanent feature and will be accompanied by private debt cancellation.”
Meanwhile, In Singapore, A Rough Week Gets Worse
Coal mine canary.
Stephanie Kelton: This Is The Lesson Of The $2 Trillion Virus Stimulus Bill….
“The reality is that there is almost always enough slack in the economy to allow for an expansion of federal spending (or tax cuts) without offsets”.
Ben Bernanke: Virus Recession More Like Big ‘Snowstorm’ Than Great Depression
“This is a very different animal”.
Coming Unemployment Crisis Plunges America’s Newly Jobless Into ‘Kafkaesque’ Nightmare
“We’ve never seen anything like it”.
‘Back-Of-The-Envelope’ Math From St. Louis Fed Shows US Unemployment Rate Surging To 32%
“These are very large numbers by historical standards”.
PMIs Show US Economy ‘Decimated’ In March. Kudlow Says Trump May Reopen America Within Weeks
“…that doesn’t mean we’re going to walk away from advice of health experts”.
The Not-So-Great Coronavirus Debate Rages On: Kill The Global Economy To Save Lives?
“…but the faster the virus stops, the quicker and stronger the recovery will be.”
European Economy Suffers Catastrophic Hit From Virus Measures, March Data Shows
“…far exceeding that seen even at the height of the global financial crisis.”
Fed’s Bullard Calls For ‘Organized Shutdown’ Of US Economy Until July 1
“The first goal during the NPAP is to intentionally reduce (reduce!) economic activity in order to meet public health objectives.”
Fed Does ‘Exactly What Market Needed’. Trump Considers Flouting ‘Advice Of Health Professionals’ To Save Economy
“I mean, seriously Jon, let’s get real, what do you want me to do?”
‘Lockdown, Shutdown And Limit Down’: Traders Come Into New Week Pondering Depression Redux
“Yet, without fresh capital, businesses will fold”.
Morgan Stanley Sees 30% GDP Contraction. Bullard Warns Of 30% Unemployment. Lawmakers Dither.
“Economic activity has come to a near standstill.”
More QE! RBNZ To Fire 30 Billion Bazooka At Virus
“The negative economic implications of the coronavirus outbreak have continued to intensify.”
Global Crisis Rolls On: Nearly 1 In 4 Americans Locked Down, Italy Shuts Production, Bezos Says Amazon ‘Critical’
“This is the most difficult crisis in our post-war period”.
As Virus Deaths Climb, Equity Positioning Drops To All-Time Low. Cue Helicopter Money
“The package is coming in at about 10% of GDP. It’s very large”.
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.
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