Category In the news

This past week it became more clear that the effects of the global pandemic are going to be with us for a long, long time to come. Two highly regarded and respected voices spoke out on the continuing financial and…

In just the last two weeks, the International Monetary Fund has warned the financial world that stocks may suffer from another devastating meltdown if the unfolding global resurgence of coronavirus infections causes lockdown measures to be reintroduced or tensions in…

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 an impressive display of…

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 the largest banks and the ways in which they spend…

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 dollar bulls last week…

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 entering their first few weeks of…

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 resisted the end of their quasi-independent…

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 now estimate that an incredible 42…

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 the coronavirus. Powell…

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, the pension funds are mostly hopelessly…

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-. This represented a single…

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…

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…

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…

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 numbers may be…

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 Markit on Tuesday.…

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 banks around the world…

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 points. Thursday saw…