China Reports Stronger Than Expected GDP, Is Only Major Economy To Grow In 2020
China, which a little over a year ago unleashed a global pandemic on the world which reshaped economies, global supply chains, capital markets, and societies and was directly responsible for the downfall of a US president, was hell bent on demonstrating that it was the biggest winner from said plague, and early on Monday local…
Goldman Expects Dems To Pass New $750BN Stimulus Next Month, Sending Economy Into Overdrive
Now that a “blue sweep” of Congress is reality, Wall Street has thrown out their existing market and economic forecasts and gone back to the drawing board to account for billions more in imminent stimulus. Not surprisingly, the first to publish a new and improved projection deck was Goldman which overnight said it had revised…
Blain: Will The 'Green' Economy Trigger The Next Meltdown?
Authored by Bill Blain via MorningPorridge.com, Back in the last century, I spent a large part of my investment career packaging up financial assets, like mortgages, into bonds – securitisation. I was heavily involved with the acquisition financing of a US home lender… which went spectacularly wrong a few years later when we discovered to…
2021 Could Be The Opposite Of 2020: Economy Up, Equities Down
Authored by Joe Carson, former chief economist and director of research at Alliance Bernstein, 2020 has proved to be a wild ride for the economy and finance. The economy posted its sharpest one-quarter decline to be followed by the largest quarterly gain. Meanwhile, the Dow Jones Index recorded the 10 largest daily percentage point declines…
Beijing “Unexpectedly” Injects $30 Billion Into Financial System, Sparking Doubts About True State Of China’s Economy
Back in late 2019, we were frequently greeted by headlines such as this, indicating that PBOC was periodically making “unexpected” liquidity injections, which made sense in light of China’s ongoing economic slowdown: … and: Fast forward one year, when China’s economy is supposedly growing at a blistering pace thanks the massive credit injections following the…
British Economy Shrinks By Most In 300 Years Thanks To COVID, Chancellor Warns
By Tyler Durden Just days after UK Prime Minister Boris Johnson confirmed that the 2nd English COVID-19 lockdown would soon come to an end (as England is expected to revert back to the tiered system of restrictions that preceded it), Chancellor Rishi Sunak on Wednesday shared some grim numbers about the state of the British…
British Economy Shrinks By Most In 300 Years Thanks To COVID, Chancellor Warns
Just days after UK Prime MInister Boris Johnson confirmed that the 2nd English COVID-19 lockdown would soon come to an end (as England is expected to revert back to the tiered system of restrictions that preceded it), Chancellor Rishi Sunak on Wednesday shared some grim numbers about the state of the British economy with Parliament….
America’s Economy Cannot Survive Another Lockdown, And The Cult Of The Reset Knows It
By Brandon Smith The U.S. economy has been on the verge of collapse for at least a decade, ever since the crash of 2008 and the subsequent explosion in fiat stimulus from the Federal Reserve. While the mainstream media has always claimed that central bankers “saved” us from another Great Depression, what they actually did…
Investing When Markets Detach From The Economy
Authored by Lance Roberts via RealInvestmentAdvice.com, “The stock market is not the economy.” Such remains the “Siren’s Song” of investors as valuation expansion is the sole driver of the market’s performance. Given that corporations derive their revenue from economic activity, how do you invest when the economy is detached from the economy? I explored this issue in my…
A Bad Winter For The Global Economy (LIVE)
A Bad Winter For The Global Economy (LIVE) Tyler Durden Fri, 11/20/2020 – 20:55 Tune in for this special edition of the Daily Briefing to hear from Ed and Raoul live at 4:30 PM ET. Raoul will provide an update on his macro thesis, trades he’s bullish on, and answer questions from the audience.
Lockdowns Have Pushed South Africa’s Economy to the Brink
By Chris Hattingh The lockdowns enacted around the world in 2020 serve as a visceral reminder of what happens when economic freedom is undermined. If a threat is perceived to be high enough, governments consider it their duty to act as they see fit—no matter the possible negative future consequences. According to the World Bank,…
Germany Wants To Avoid “Yo-Yo Shutdown” Of Economy With 4-5 Months Of “Severe” Lockdown
By Tyler Durden Germany is among the latest large European countries to reimpose COVID-19 restrictions nationwide, alongside France, Germany and the UK as cases rise across the continent. While this has included shutting down pubs, restaurants, cafes and potentially crowded night venues, the latest restrictions stopped short of school closures or retail outlets. German officials…
Germany Wants To Avoid “Yo-Yo Shutdown” Of Economy With 4-5 Months Of ‘Severe’ Lockdown
Germany is among the latest large European countries to reimpose COVID-19 restrictions nationwide, alongside France, Germany and the UK as cases rise across the continent. While this has included shutting down pubs, restaurants, cafes and potentially crowded night venues, the latest restrictions stopped short of school closures or retail outlets. German officials are now signaling to the public…
Federal Reserve Chair Jerome Powell Admits The Truth: “We’re Not Going Back To The Same Economy”
By Michael Snyder Even Jerome Powell is admitting that the boom years are over. For months, I have been trying to explain to my readers that the debt-fueled “prosperity” that we were enjoying prior to the COVID pandemic won’t be coming back, and initially I received quite a bit of criticism for saying that. But…
Elon Musk Eyes Space Mining Of Asteroid Worth More Than Global Economy
Not too long ago, NASA asked Tesla’s Elon Musk, who runs the rocket company SpaceX, to assist in a future space exploration mission of a giant metallic asteroid called “16 Psyche” that contains trillions of dollars in rare metals. 16 Psyche is one of the most massive objects in the asteroid belt orbiting between Mars and…
Deep Recession and Contraction of Global Economy: “Second Wave” Covid Economic Impact?
The reopening of the US economy in June—and some states as early as May—has produced a modest economic ‘rebound’. But rebound is not to be confused with economic recovery. The current rebound is the natural result of the US economy collapsing 40% between March and June 2020. In the first quarter, January-March 2020, the…
UK economy shrinks record 20.4% in April due to lockdown
The UK’s economy shrank by 20.4% in April – the largest monthly contraction on record – as the full impact of lockdown was felt. The monthly decline was outlined in figures reported by the Office for National Statistics (ONS). The fall is three times greater than the decline seen during the whole of the 2008 to…