News Story of the Day: Who is a currency manipulator? You may have to wait to find out who the U.S. government considers is a currency manipulator until after the 2020 election. Treasury Secretary Steven Mnuchin is reportedly going to wait to release the semi-annual report. Two countries have been floating around as of late: […]
Money
Larry Summers says $30 trillion national debt will NOT collapse the U.S. dollar
It’s official: The U.S. federal deficit was $3.1 trillion in the last fiscal year. This means the national debt is on track to top $30 trillion in a couple of years. With the U.S. government likely to approve another spending bill, and a possible Joe Biden administration to ramp up spending, it is inevitable that […]
Tesla slashes prices in China AGAIN as GM captures market share
Can Tesla dominate China? Despite the federal government pouring billions into Elon Musk’s company, the brand has failed to capture additional market share in the world’s second-largest economy. And don’t think there isn’t a demand for new energy vehicles. Last month, sales for electric vehicles and battery-powered surged 67.7 percent. As a result, Tesla slashed […]
THANKS FED: Record $170 billion flowed into bond ETFs so far in 2020
How does the Federal Reserve influence financial markets? Exhibit No. 3223: Buying bonds. Thanks to the Fed’s aggressive bond-buying campaign – government and corporate – a record $170 billion flooded into bond exchange-traded funds (ETFs) year-to-date. This is up from $154 billion in all of 2019. Following the steep coronavirus-induced selloff that spawned a liquidity […]
How bad is the U.S. economy without stimulus?
Fiscal stimulus talks fail, market tanks. Fiscal stimulus talks back on, market rallies. Rinse and repeat. The financial markets had a roller coaster ride this week because of President Donald Trump canceling and then restarting fiscal stimulus negotiations. But how bad is the U.S. economy and the overall stock market if they rely so much […]