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Over the weekend, the United States and China engaged in competing uncoordinated naval and air exercises in the South China Sea. While the Chinese undertake these routinely in these waters, for the United States it was...
This week the news emerged that the Federal Reserve's hand has been forced for the first time since the Great Recession. The Feds felt compelled to place new restrictions on...
Legendary former Morgan Stanley Asia Chairman Stephen Roach, currently a respected and widely followed Yale University economist and senior fellow has just shaken up the global FX currency markets with his latest sobering prediction. He warned...
This past week, the IMF cleverly coined a new phrase for the present economic collapse going on around the world in the current "Great Lockdown" economic crisis. Back when the European economic heavyweights were...
This past week China passed a restrictive new law taking away Hong Kong's freedoms under the 20 year lasting One China, Two Systems policy. Protests broke out furiously as the people of Hong Kong...
This past week the news emerged from the highly respected University of Chicago economics research department that massive permanent losses of jobs will be the base case for any future U.S. economic recovery. They...
Stocks plunged most of the week after Federal Reserve Chair Jerome Powell became one of the most famous outspoken voices on the danger the U.S. economy finds itself in these days thanks to the lockdown imposed from...
Over the past several weeks, the news has emerged that state and local governments are so hard up financially that they have even sought help from the big state pension funds. Unfortunately for everyone,...
This past week, the credit ratings agency Fitch struck again, this time at Italy and its troubled sovereign credit rating. Fitch lowered the credit rating on Italian debt from its prior rating of BBB to BBB-....
The economic hits just kept on coming this past week. Goldman Sachs, the much-admired and widely followed Wall Street analyst, announced their belief that the worldwide economic toll from the current crisis will prove to be four times more severe than was the Global Financial...
This past week, devastating predictions on the depth of the economic collapse in the United States emerged. JPMorgan economists had previously predicted that the economic carnage would result in a 25 percent decline in GDP for the second quarter of 2020. That was last week....
This past week saw the U.S. economy continue to crater as lockdowns and shutdowns around the nation continued to boost unemployment claims yet again to another scary all-time high. Another 6.6 million Americans joined the unenviable ranks of the newly jobless this past week, bringing...
Americans who are out of work because of the coronavirus filed for unemployment claims in all-time record numbers this past week. The Labor Department announced a shocking escalation up to 3.28 million filed claims last Thursday. These...
Data this week revealed that business activity for March in the euro zone economy experienced an "unprecedented collapse" with the intensification of the coronavirus. The abysmal PMI provisional Purchasing Manager's Index survey data was released by IHS...
Monday of this past week saw both stock market indices and oil benchmark prices deteriorate into a free fall. This worst stock market plunge since the Black Monday crash of 1987 happened even as global central...
Wall Street has suffered its worst session since 1987’s infamous “Black Monday”, and the World Health Organization has officially classified the novel coronavirus—Covid-19—as a global pandemic. It looks as though major US employers are set to announce widespread layoffs to stay afloat. Fortunately, instead of...
This past week saw two of the worst stock market declines in U.S. financial markets history. The first trading day of the week was labeled a "Black Monday" as the Dow Jones Industrial Average plunged over 2,000...
On Monday, market watchers woke up to find that, while the sky hadn’t fallen, virtually every asset in their portfolio had plunged into the red. Or, perhaps, maybe the sky had. The Dow fell 2,000 points and the S&P 500 sank 7%, causing the New York...
These past two weeks have seen historic drops in the stock markets both in the U.S. and around the world. Goldman Sachs slashed its earnings estimates for 2020 on U.S. companies to only $165 per share....
This past week you saw discouraging news emerge from the subprime borrowing markets. The most recent data release from the Federal Reserve showed that credit card delinquencies (over 30 days late payments) from the 4,500 banks under...
