[Note to readers: I will be away from my desk until Sunday, so there will be no new news for the next six days. Have a lovely week] Europe may be about to find out. 128 days with my Mother-in-Law. By Nick Corbishley and cross-posted from WOLF STREET As market players cling to the hope that a… Read More What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time?
The Depression is deep, and the pain is wide. Yet the NADAQ is a rocket, attempting to break out of earth’s atmosphere… Read More Drumbeats of the Epocalypse: The Economic Death March Has Come to Town!
UK citizens appear to have come to accept that we live in a country with a Banana Republic system of capitalism… Read More Banana Republic Corruption
According to a database created by The International Consortium of Investigative Journalists containing files leaked from the law firm Appleby, Jeffrey Epstein, who is under indictment as a sex trafficker and assaulter of underage girls, was the Chairman of Liquid Funding Ltd. from November 9, 2001 to at least March 19, 2007. The offshore business had been incorporated in Bermuda on October 19, 2000 and according to the Fitch ratings firm, it had $6.7 billion in outstanding liabilities in 2006.… Read More Jeffrey Epstein Chaired a $6.7 Billion Company that Documents Suggest May Have Received a Secret Federal Reserve Bailout
“While the economic shutdowns and increased use of online retailing are currently diminishing cash’s traditional function as a medium of exchange, it seems that this is being more than offset by panic driven hoarding of banknotes.”… Read More Covid-19 Isn’t Killing Cash. People Are Hoarding More of It
On America’s birthday, celebrating the corporate-sponsored revolution… Read More Year Zero
Private Jets vs. Pension Funds… Read More Is the End Coming for Private Equity?
Despite its grand promises to be a beacon of light during the pandemic, customers are spilling their guts to the Consumer Financial Protection Bureau’s complaint database with horror stories of what Citi has put them through during this crisis… Read More Nice Little Earner: Citi Borrows From Fed at 0.35%, Then Charges Struggling Consumers 27.5% on Credit Card Debt
Central-Bank Forked-Tongue Syndrome… Read More Negative-Interest Rate Champion Bank of France Now Frets About Ballooning Corporate Debt
The Dutch Parliament has landed in an untenable legislative cul-de-sac with its version of the Copyright Directive.… Read More Dutch Law Proposes a Wholesale Jettisoning of Human Rights Considerations in Copyright Enforcement
At the same time that we see the largest fiscal and monetary support plan since World War II, we are witnessing two dangerous collateral effects: the rise of zombie companies and the collapse of small businesses and start-ups… Read More The Risk of the Bailout of Everything
It appears that the Fed has been doing the exact same thing it did during the financial crisis of 2007 to 2010 – hiding the truth from the American people while it makes trillions of dollars in secret loans to the largest Wall Street financial institutions… Read More Bloomberg Drops a Bombshell on the Fed’s Big Bank Stress Tests Set for Release Today