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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...
This past week the news emerge in a report showing that the total issuance of corporate debt has reached a record high of $13.5 trillion at the conclusion of 2019. The OECD report also revealed alarming statistics...
This past week the news emerged from the Fed's Quarterly Report on Household Debt and Credit that U.S. total household debt has set another staggering record. The debt level hit $14.15 trillion after rising another $193...
The Coronavirus has caused a scare around the world as an unfolding global health pandemic, but not as much attention has been paid to the effects it is having on the Chinese and now global...
This past week the Congressional Budget Office released its latest projections on the U.S. Budget and Economic Outlook. News from the report was discouraging. The CBO projected that the federal government will amass huge...
Discussions of climate action failure, economic downturn in emerging markets, and an uncertain global trade environment took center stage at the 50th World Economic Forum (WEF) in Davos, Switzerland last week. Wedged into virtually every discussion was the US-China Phase One trade agreement, which experts...
This past week saw the world financial, business, and technological elites and global powerbrokers meet in Davos, Switzerland for the 50th annual World Economic Forum week. The mood at the annual gathering was less than optimistic...
There’s no denying that the stock market has an overvaluation problem. Look no further than the average price-earnings ratio of the S&P 500, a whopping 23.32—a 55% increase over its historical average of about 15. In other words, we can assume that the stock market...
The Federal Reserve Bank of New York voted unanimously to add US$40.9 billion in weekend liquidity to financial markets on January 10th, leaving some investors questioning why. It’s never a good sign when the Feds are forced to pump cash into money markets. It implies that...
As tensions flared in the Middle East last week, the price of gold vaulted to US$1,611 on Wednesday (January 8) before stabilizing at US$1,540 per ounce early the next day. US gold futures peaked at $1,549, a jump of 1.4 percent. The episode saw the...
This past week the news emerged that despite what has been called the greatest economy in history a huge percentage of Americans are actually living from one paycheck to the next. Respected business news site MarketWatch cited a few surveys that show how desperate the...
This past week saw the longstanding shadow war in the Middle East between the U.S. and Iran become an escalating conflict. After attacks on the U.S. Embassy in Iraq, America responded by killing the most...
In the past few weeks, the extent of the unfolding banking crises in both Italy and China has become more apparent. In mid-December, the Italian government found itself forced to save the struggling southern lender Banca Popolare...
