"When this thing implodes, we are all screwed. On a global scale, we have never before created such a magnificent bubble. These central bankers are clueless..."
As the world's central banks and economic policymakers convened in Washington over the weekend for the annual meetings of the IMF, IIF and World Bank, there was a distinct lack of conviction in the air...
Ending a nearly six-week long strike, the longest work stoppage at GM since 1970, late on Friday workers at General Motors’ US plants approved a new labor deal following contentious negotiations over pay and production plans.
The full year deficit for fiscal 2019 was shy of $1 trillion, but just barely, printing at $984.4 billion, a whopping 26.4% increase to the $779 billion deficit hit in 2018.
"The negative-rate experiment, if you will, around the world has effectively not worked. So we’re hoping we’re not going to mimic a policy that hasn’t worked."
The global trickle-down mantra is already failing, and will entirely come apart. The impact will be bad for wealthy nations but even worse for poor nations...
...survey point to GDP growth of just under 1.5% at the start of the fourth quarter, and a near-stalling of new order growth to the lowest for a decade suggests that risks are tilted toward growth remaining below trend in coming months.
...the proxy for business investment - bookings for non-military capital goods orders excluding aircraft - fell 0.5% after a downwardly revised 0.6% drop the prior month... and down 1.8% YoY - the weakest since Trump's election...
