“Two steps forward, two steps back”: Fed’s new song and dance, no?
Easy money is a curse for capitalism (transcript of my podcast).
Crazy charts to document our crazy times.
Over 30 million people lost their jobs while the wealth of America’s 600-plus billionaires ballooned by $434 billion, to $3.4 trillion.
Someone had to buy the Incredibly Spiking US National Debt. Here’s who.
Over 30 million people lost their jobs between mid-March and mid-May. But the wealth of America’s 600+ billionaires ballooned by $434 billion. How did this happen?
Repos at $0. SPVs fell for sixth week. Dollar liquidity swaps fell for 9th week. MBS unchanged for 3rd week. Treasuries rose.
“We’re not even thinking about thinking about” slowing the decline of the dollar’s purchasing power — and thereby labor’s purchasing power.
Here are the details on its purchases and holdings in July.
Repos are gone. Dollar liquidity swaps dropped further. SPVs fell to lowest since June 17. MBS dropped by $37 billion. Treasuries rose.