This brutal increase in indebtedness is not going to prevent economies from falling rapidly. The main problem of this global stimulus chain is that it is entirely oriented to support bloated government spending, and artificially low bond yields.
The next two decades of U.S. growth would look like the last two decades in Japan. Not a collapse, just a slow, prolonged stagnation. This is the economic reality we are facing... And neither monetary policy nor fiscal policy will change that.
Nordstrom has notified landlords of its full-line and off-price Rack stores that it will pay only half the occupancy costs for the remainder of the year...
...even though you didn’t create the fraud in the financial system, and were forced to close down your business, you will now be used as tax cattle to pay for this giant fustercluck.
There will be no tax cuts or measures that allow for more private saving. Deregulations are not included. Instead, the package contains industrial policy, central economic planning, subsidies, and redistribution measures.
The current volume of freight flowing in the U.S. cannot be overstated — besides the March demand spike, there has not been freight demand like this in recent history...
