It appears that Robinhooders have finally googled what "bankruptcy" means, and in the past two days there has finally been the first sustained, if modest decline in Hertz holders on Robinhood.
Powell will find it difficult to shift policy in the foreseeable futures simply to prick an asset bubble when so many are still without gainful employment.
“Investors are ‘looking across the valley’ to the good times that await us there. They seem to believe that we will just levitate across the valley. But we can’t levitate..."
Markets have become so distorted they are evolving into something parasitical – feasting on central bank and government largesse as they suck the lifeblood from economies while fuelling rising inequality across the globe.
Not everything that is market friendly, even in bad times, is a good idea. The only thing harder for any government program than implementing it, is stopping it...
The response in London and Paris is strikingly different but, in this tale of two cities, it is London that seems to be surrendering to the hysteria of the moment...
But don’t expect Democrats to ever extend their reasons for hating police unions over to teachers, for the simple reason that teachers’ unions dump far more money on Democrats than police unions...
Assets fell by $25 billion to $138 billion at the end of April from $163 billion at the end of February, according to a May 29 filing first noticed by Bloomberg.
Rumors are making rounds the Chinese central bank stores gold at the Federal Reserve Bank of New York. If true, this would be crucial in the trade war between the U.S. and China.
A measure of retail sales ex-autos – using credit card spending data - is roughly flat on a yoy basis, surging 8.9% mom SA in May, and bringing the 3-month average into positive territory at 0.2%.
