Independent thinking for complex markets and current events
Perhaps the single biggest legislative fight this year has been over federal spending. There’s a good reason for that: The national debt is now an eye-popping $32.5 trillion (roughly $250,000 per household), and out-of-control deficit spending is one of the main reasons why families are struggling with inflation . In May, Congress passed a bipartisan …
by confoundedinterest17 Thanks to The Federal Reserve, office property values have gone crazy despite rising vacancy rates. US office space vacancies (white line) have soared since 2008 as The Fed’s massive monetary expansion (blue and green line) has not helped. But Fed monetary expansion DID help drive office prices! At least until 2022, when office space …
Indian authorities to Pfizer… “You can either lose 1.38 billion customers or allow an *independent investigation* to determine whether your product is safe and effective”… Pfizer… “We would rather give up 1.8 billion customers”… pic.twitter.com/oNW4dVBFFW — Pelham (@Resist_05) July 21, 2023
SCAM ALERT!! What a TOTAL friggin Scam! Never playing THAT again! Last Billion Dollar winner ALSO from California? And there was an “issue” with naming the winner that time? Hmmm. I smell BS https://www.cnbc.com/2022/11/08/powerball-results-record-1point9-billion-jackpot-drawing-delay.html Guess what Shithole State collects all that State Income Tax? No coincidence these winners came from a State with Income Tax! …
“A winning ticket has been sold in California for the Powerball jackpot worth an estimated $1.08 billion,… The winning numbers for Wednesday night’s drawing were: white balls 7, 10, 11, 13, 24 and red Powerball 24. The California Lottery said on Twitter that the winning ticket was sold in Los Angeles at Las Palmitas Mini …
(The National Pulse) The European Union (EU) is preparing to dedicate up to €20 billion ($22.4 billion) over the next four years to ensure Ukraine’s military remains stocked amid growing concerns from Western nations, including the United States and the United Kingdom, over their increasingly depleting munitions reserves. The military fund will become “part of …
via YAHOO: A partner at Cleary Gottlieb, a top law firm for corporate bankruptcies, he’s advised businesses worldwide for decades on what to do when they’re drowning in debt. He did it through the global financial crisis, the oil bust in 2016 and Covid-19. And he’s doing it again now, in a year when big …
Here's the US deficit by month for both FY 2022 and FY 2023 YTD. In March, when the regional banking crisis began, the US added a whopping $378 billion to the deficit. September 2022 added $430 billion. Follow us @KobeissiLetter for more as we unpack the latest deficit report. pic.twitter.com/PVAUAFp3D2 — The Kobeissi Letter (@KobeissiLetter) …
The U.S. Congressional Budget Office released a report earlier this year projecting the national debt will be nearly twice as large as the U.S. economy in 30 years. Budget groups continue to release dire forecasts for the explosive growth of the U.S. national debt. The U.S. Treasury reported a $1.4 trillion deficit so far nine …
Billionaires and corporate execs have dumped $9 billion worth of stock this year amid the market’s latest rally So looks like we are back here again. Repeat of end of 2021. When CEOs dump massively, we should be asking why. There’s a lot of negativity in thr economy, from debt, to interest rates, production, manufacturing …
https://twitter.com/JoleneBlahahaha/status/1680677891023990785 https://twitter.com/BernieSpofforth/status/1680892369300865025
by Michael Global food supplies just keep getting even tighter, and global hunger has risen to extremely alarming levels. People on the other side of the world are literally starving to death as I write this article, but most of us in the western world simply do not care about the millions that are deeply …
JPMorgan Chase reported second-quarter earnings Friday that topped analysts’ expectations as the company benefited from higher interest rates and growing interest income. Earnings: $4.37 per share adjusted vs. $4 per share Refinitiv estimate Revenue: $42.4 billion vs. $38.96 billion estimate Net income surged 67% to $14.5 billion, or $4.75 per share. When excluding the impact …
Ht @RealEJAntoni And the longer that rates stay at this level, more and more debt matures and gets refinanced at these higher rates. So the debt interest expense is going to keep going higher. 🔥 pic.twitter.com/WDEUlt9EFd — Wall Street Mav (@WallStreetMav) July 13, 2023 Every time US tax receipts have tumbled this much, the US …
It is indeed a matter of great concern that the top 4 banks are currently facing monumental losses, amounting to a staggering $205 billion, on their bond assets. Moreover, the entire banking system has witnessed an alarming figure of approximately $2 trillion in bond asset losses. This unfortunate situation emphasizes the vulnerability of banks and …
Inside the negative equity timebomb: US homeowners lost $108.4 BILLION in equity this year – leaving more than 200,000 at risk of going ‘underwater’ if property prices fall another 5% Homeowners are sitting on a negative equity timebomb after losing $108.4 billion on their property values this year, experts say. The average borrower saw their …
by confoundedinterest17 The US has passed the 32 trillion mark in national debt, and is going much, much higher. More like 32 tons on the back of taxpayers. When we add unfunded liabilities like Social Security, Medicare and Medicaid, the tab soars to $224.5 TRILLION. New data show that a growing number of U.S. firms are collapsing …
by Dismal-Jellyfish Liabilities and Capital Liabilities: Earnings Remittances Due to the U.S. Treasury -76.292 billion as of 7/5/2023. Let’s talk about the Fed’s cumulative losses, in fewer than 9 months, are GREATER (-76.292 billion, so far vs $76 billion) than what was remitted to the U.S. Treasury for ALL of 2022… https://fred.stlouisfed.org/series/RESPPLLOPNWW Remember, the Fed …
via naturalnews: The investment is a response to new and old issues faced by the company as well as other big box retailers, including the rise in online shopping, the recent boycott causing profits to plummet and the ongoing threat from shoplifting and other organized retail crime incidents. (Related: Target on pace to lose $1.2 billion in profits …
Large Banks Experience Record $921B Deposit Drain in 40 Years, Outpacing Small Banks’ Decline Data from the Federal Reserve reveals that large banks in the U.S. are experiencing the fastest decline in deposits in four decades. Since April 2022, deposits at the 25 largest commercial banks have plummeted by $921 billion, a decline of 7.88 …
Unilever stock loses $2.5B amid calls to boycott Ben & Jerry’s over tweet Ben & Jerry’s parent company has lost roughly $2.5 billion in market cap amid calls to boycott the Vermont-based ice cream maker over a July 4 tweet condemning the US for existing on “stolen Indigenous land.” Shares of Unilever, the Anglo-Dutch multinational firm, slid …
🚨#WATCH: as Las Vegas Unveils the $2.3 Billion MSG Sphere Lighting Up the Sky for the first time ever ⁰📌#LasVegas | #Nevada Las Vegas, the city that never sleeps, has unveiled the MSG Sphere a remarkable arena with a price tag of $2.3 billion. Last night, they turned on the… pic.twitter.com/uD1zJxiSg3 — R A W …
Banks would lose $541 billion in ‘hard landing’ contingency: Fed The Federal Reserve said Thursday that banks are well capitalized enough to endure a severe recession but stand to lose $541 billion if the economy heads south. The findings came from the Fed’s annual stress test of the banking sector, which is based on major …
by BoatSurfer600 The U.S. national debt spiked by $851 billion since the debt ceiling was suspended a month ago on June 3, and now hit $32.32 trillion. This is just an amazing freak show. Source: wolfstreet Stocks would do well too as liquidity would explode. This is probably the easiest scenario for governments but it …
We are digging into all of the data behind this new report. The unrealized losses seem to go well beyond just bond markets. Let us know if you'd like to see a Twitter thread explaining this situation in full detail. Follow us @KobeissiLetter for more as this develops. — The Kobeissi Letter (@KobeissiLetter) June 30, …
The FDIC “mistakenly” releases complete version of a document showing U.S. government spent $12,700,000,000 to bail out 10 wealthy depositors amid banking crisis in March. “10 depositors had $13.3B in SVB, that’s why the FDIC bailed them out. (Spoiler alert: They were Chinese accounts) This wasn’t about systemic risk, it was about bailing out the billionaires …
Hacker Kim Dotcom has offered his take on the “Wagner Coup” in Russia, intimating that Wagner boss Yevgeny Prigozhin may have collected billions from the CIA to stage a coup, and then aborted the coup. My view on the actions by Prigozhin and the Wagner Group in Russia: This started as a power struggle between …
by Dismal-Jellyfish Liabilities and Capital: Liabilities: Earnings Remittances Due to the U.S. Treasury -71.875 billion as of 6/21/2023. Let’s talk about the Fed’s cumulative losses in 9 months that equal almost as much (-71.875 billion vs $76 billion) that they remitted to the U.S. Treasury for ALL of 2022… https://fred.stlouisfed.org/series/RESPPLLOPNWW Remember, the Fed is …
Bank Term Funding Program (BTFP): https://fred.stlouisfed.org/series/H41RESPPALDKNWW Tool Bank Term Funding Program (BTFP) Up from 3/15, 1st week of program ($ billion) 3/15 $11.943 billion $0 billion 3/22 $53.669 billion $41.723 billion 3/29 $64.403 billion $52.460 billion 3/31 $64.595 billion $52.652 billion 4/5 $79.021 billion $67.258 billion 4/12 $71.837 billion $59.894 billion 4/19 $73.982 billion $62.039 …
