The infamous “Nothing Goes to Heck in a Straight Line” mugs. Just pour in some liquidity, such as a “Repo IPA” or “QE Lite,” and you’re ready to relax.
US-China trade war, falling business confidence, slowdown in China, German exports, and new: the temporary shutdown of Hong Kong’s airport, the largest cargo hub in the world.
You give a tech company your personal information to activate a security feature and later find out they were using it “unintentionally” for targeted advertising.
They undermine banks. To dodge the fallout, banks chase yield, buying stuff like CLOs, instead of lending. When loans go bad, banks may “evergreen” them.
If the US dollar loses its hegemony as a global reserve currency, it would be a sea change globally, and specifically for the US economy. Today, we got the next installment in that saga.
Strongest argument in favor of an air-walking economy is WeWork, Uber, Lyft, and other unicorns destined to never make a dime. Throwing billions of dollars at these losers is a recessionary harbinger.
