If you ever wanted smoking gun proof of the folly and corruption of the Fed’s massive intervention in financial markets, today’s lead in the Wall Street Journal couldn’t have been more dispositive.
The irony rarely gets thicker than that embodied in the incendiary George Floyd saga.
Surely William Mark, pictured below, is the poster boy for the looting of America that is now in full swing. In a few short days of madness the man lost his entire life savings—-nearly $800,000. But he was not a victim of the small time arsonists and roving bands of open air thieves that struck …
Since robo-traders function by the millisecond, the Wall Street mindset—if you want to call it that—has gone strictly short-term incrementalist.
A hundred years ago in response to the horror of WWI, the great Randolph Bourne famously pronounced the truth that “War is the Health of the State.” Said Bourne,
With 97% of companies reporting, it appears that aggregate S&P 500 net income posted at a paltry $661 billion annualized rate in Q1. That’s down 50% from the Q4 2019 level of $1.289 trillion, and marks the lowest posting since since Q4 2009 when the US economy was deep in the Great Recession swamp.
Lockdown Nation has devastated the American economy, the livelihoods of tens of millions of workers, the sweat, blood and financial survival of millions of small business people, and the very fiscal, monetary and political viability of the country.
It’s Memorial Day weekend, which is ordinarily a time of massive travel mobilization by the American public. But the TSA reported that airport screenings yesterday (May 21) were just 318,449, representing a whopping 88% plunge from last year’s 2,673,635.
It turns out the number is 43.0 million. That’s the total number of new unemployment claims filed during the past 9 weeks when you add the 38.6 million claims under the regular state programs to the 4.4 million workers who have become newly eligible under the Federal bailout.
It started in sheer madness on March 13 when the Donald was persuaded to declare a national emergency by his camarilla of dopey doctors.