Bank of America

David Rosenberg Calls For A Multi-Trillion, "Helicopter Money" Stimulus Package

David Rosenberg has a modest proposal in mind for the US economy: he says only a massive, multi-trillion stimulus package which includes helicopter money attached to a $2 trillion perpetual bond, massive infrastructure spending and measures to tackle the $1 trillion student debt load, has any hope of kickstarting the US economy.

Global Stocks Rebound As Fed Fears Ease, Dollar Falls From 7 Month High

If yesterday's session was marked by concerns about Fed tightening and rising long-end rates, today concerns about a hawkish Fed have subsided, with European, Asian stocks and S&P futures all rising amid speculation Federal Reserve policy will remain accommodative after yesterday's dovish comments by Fed vice-Chair Stan Fischer, as well as weak economic data helped push the US Dollar off its 7 month highs.

Bank of America Beats: Earnings Rise 7.3% On Rebound In Capital Markets, Expense Cuts

The last big US bank to report Q3 earnings in a 48 hour flurry of bank reports was Bank of America, which moments ago announced that it had earned $0.41 in the third quarter, above the $0.34 expected, driven by $21.6 bilion in revenue, which also beat estimates of $20.8 billion, higher by $600 million compared to a year ago period, as a result of a strong rebound in global market earnings which jumped by 34% from $800 million to $1.1 billion as well as a 22% increase in Global Banking from $1.3 billion to $1.55 billion.

Inflation Is About To Spike Due To The "Base Effect"

In June, oil was still down 20% relative to a year prior. Last month, that year-over-year change had already risen to 0%. And if prices hold at current levels, oil will be up 45% at year-end. To repeat for emphasis, that’s -20% YoY to +45% YoY in the space of six months."

The End Of Growth's "Fake Elixir"

The global elites’ false promise that neoliberal economics would cure all ills through the elixir of endless growth helps explain the angry nationalist movements ripping apart the West’s politics...

Restaurant Industry In Gloom As Number Of Americans Eating Out Tumbles

When it comes to one of America's favorite pastimes, eating out, the "recovery" fiction peddlers have finally won: according to the latest Restaurant sales data, not only has the number of Americans eating in restaurants tumbled, but restaurant operators are the gloomiest they have been about the state of their industry since the financial crisis.

5 Urgent Warnings From Big Banks That The "Economy Has Gone Suicidal"

The economy has gone suicidal. It is working against the very people who need its energy to survive. It is collapsing on its own weight, and the weight of literally incalculable levels of toxic debt. And it is going to create the greatest disaster of our time, if the warnings from the world’s most powerful bankers are any indication.

BofA Says It Has Found Evidence Of An "Imminent Recession"

"In examining some of some of our favorite indicators’ recent trends, we did find evidence for an imminent recession. While the range of signals is wide, in aggregate they do suggest that, if data were to continue to weaken in line with the recent pace, history would point to a recession in the second half of 2017"