Are you ready for a record debt auction at the Treasury Department this week? In order to fund the federal government’s multi-trillion-dollar spending schemes, Treasury Secretary Steven Mnuchin is set to issue an enormous level of bonds to cover the bill. Will there be enough of a demand? From Bloomberg: Treasury’s announcement Wednesday on its […]
Archives for May 2020
Will emerging markets suffer a coronavirus-induced economic collapse?
By: Andrew Moran Argentina, Brazil, Greece, India, El Salvador – many of the emerging markets (EMs) had cracks in their foundations even before the Coronavirus-induced depression, proving to be fragile states that would implode at the first sign of an economic downturn. As history has shown, anytime there is a recession, emerging markets fall like […]
Starbucks credit rating slashed to two notches above jun territory amid ‘significant business interruption’
Starbucks is one of the more attractive plays in the U.S. stock market. By March 23, the stock fell to just above $50 per share. It has since recovered to above $70, and many analyst ratings label it as a buy. But is something brewing in Seattle? Fitch Ratings recently downgraded the company’s credit rating […]
LOL: How desperate mayors have reacted to COVID-19
Everything from a shrug to outright panic, mayors across America have exhibited varying emotions. You can’t really expect anything different from these politicians. So, it is not really a surprise. The wonderful Andrew Heaton and the excellent Austin Bragg have a new video poking fun at the nation’s mayors. Let’s be honest: They all acted […]
Money printer go brrr will not prevent the economic collapse
By: Frank Shostak To counter the likely severe side effects of the lockdowns on the economy—introduced to prevent the spread of the coronavirus—the Federal Reserve has embarked on massive expansion of its balance sheet. The size of the Fed’s assets jumped to $6.2 trillion in April this year from $3.9 trillion in April last year—an […]