All kinds of weird records are being broken. But it’s scheduled to expire, and then what?
The Fed is funding consumption circuitously via Treasuries and government stimulus spending, shifting impact from asset prices to consumer prices.
Some people returned to work, but 1.64 million newly-out-of-work people filed for state or federal unemployment insurance. Labor market at essentially the same level of terribleness for months.
The SNB Top 40. As long as the SNB can bamboozle global speculators into chasing after the incredibly watered-down tiny Swiss franc…
Precisely what’s needed to end the price collapse. But last time, it wasn’t long before Wall Street liquidity surged back into shale, starting the cycle all over again.
But who are the suckers?
Low income earners got crushed. Many high-income earners could work-from-home.
Large-scale shifts triggered by work-from-home, staggering unemployment crisis, and oil-and-gas bust. Rents respond in real time.
For automakers, this was a tough market before the Pandemic: decades of stagnation in unit sales, carved up by more competitors, with industry revenue growth by jacking up prices. Then came the Pandemic.
“Extend and Pretend” forevermore. Transcript of my podcast.