Independent thinking for complex markets and current events
Elon Musk claimed he can eliminate at least $2 trillion from the federal budget, laying out his vision for substantial government spending cuts if Donald Trump wins the presidency. “Your money is being wasted,” Musk said Sunday at a rally for Trump in New York’s Madison Square Garden. “We’re going to get the government off …
The International Monetary Fund warned Wednesday that the public debt situation worldwide could be more dire than most think, highlighting skyrocketing fiscal deficits in the U.S. and China. Global public debt will rise above $100 trillion by the end of 2024, the agency projected in its annual Fiscal Monitor report. By the end of the …
by James Hickman The corpse of King Louis XV was still warm when his son and successor, 19-year old Louis XVI, started cleaning the royal house. French finances were an absolute mess. The country was almost hopelessly bankrupt after decades and decades of costly warfare… and even more costly royal luxury. The young king’s predecessors, …
US budget deficit tops $1.8 trillion in fiscal 2024, third-largest on record WASHINGTON, Oct 18 (Reuters) – The U.S. budget deficit grew to $1.833 trillion for fiscal 2024, the highest outside of the COVID era, as interest on the federal debt exceeded $1 trillion for the first time and spending grew for the Social Security …
by confoundedinterest17 Tennessee Ernie Ford sang it best. $36 tons of debt. Another day older and deeper in debt. Notice virually no political candidate will acknowledge or discuss. The federal government spent $1.8 trillion more than it collected in tax revenue in fiscal year 2024, according to figures released Friday by U.S. Treasury Department. Congress has run …
U.S. consumers collectively owe a record $1.14 trillion in credit card debt, figures released Tuesday by the Federal Reserve Bank of New York show. That’s $27 billion more than the $1.13 trillion in credit card debt they carried during the second quarter of 2024. The high tally comes amid concerns of an economic downturn triggered …
https://www.usdebtclock.org/index.html?taxpayer Such a large amount of debt makes the future look bleak. Is it even possible to pay this debt off? h/t Gullible_Guard_8247
BlackRock’s assets hit record $11.5 trillion amid private market push Oct 11 (Reuters) – BlackRock’s (BLK.N), opens new tab assets under management hit a record high for the third straight quarter as a U.S. stock market rally boosted inflows, while the world’s largest asset manager continued a push to expand its footprint in private markets. …
Nvidia shares closed at a record on Monday as Wall Street gears up for earnings season and updates from all of the chipmaker’s top customers on their planned spending on artificial intelligence infrastructure. The stock climbed 2.4% to close at $138.07, topping its prior high of $135.58 on June 18. The shares are now up …
Global money supply has hit an all-time high of $107 trillion!@dailychartbook pic.twitter.com/6cOITl9Gt0 — Longview Economics (@Lvieweconomics) October 10, 2024
The recent data from SEC Form PF reveals a staggering reality: prime brokerage borrowing has eclipsed $2 trillion, raising alarm bells within the financial industry. While leveraging investments through borrowing is a common practice, it is crucial to recognize the myriad risks that accompany such strategies. Leverage risk looms large, as borrowing to invest can …
This year’s spending to elect a president and members of Congress will hit at least $15.9 billion – putting 2024 on track to become the nation’s most expensive federal election, according to a new analysis from OpenSecrets, a nonpartisan organization that tracks money in politics. Helping to drive up the price tag: blistering spending by …
With savings rates at near-record lows, you have the perfect storm. ⛈️ https://t.co/3h3h5vXzaP pic.twitter.com/ng2y457iqa — The Great Martis (@great_martis) October 8, 2024 They’ve maxed out their balances. There’s no more pretend money to spend. Credit Card Spending Tanked in August; The American Consumer Tapped Out? How close are Americans to hitting their credit card limits? …
by confoundedinterest17 The Presidential and Vice Presidential debates thus far feature weak moderators asking lame questions. For example, there are still 97 hostages stll held by Hamas and what would the candidates do to get them released? (Hint: Trump/Vance would have sensible responses. Harris would just laugh and say she was raised in a middle class family …
Re-filling the FEMA coffers to the tune of 12-14,000,000,000 was rejected 3 times in the last 2 years. US public debt has jumped $345 billion over the last 3 days hitting another record of $35.7 trillion. BREAKING: US public debt has jumped $345 billion over the last 3 days hitting another record of $35.7 trillion. …
Global net liquidity is exploding. This means unprecedented monetary destruction, economic secular stagnation, and risky assets' expansion. via Bloomberg pic.twitter.com/sA1jRMjWSC — Daniel Lacalle (@dlacalle_IA) September 29, 2024 #recession … Global $USD #Liquidity Squeeze edition From $238 billion to $465 billion in just two weeks during the run up to September quarter-end. 👀 pic.twitter.com/JNDe0J0r7n — Invariant …
I think that is more than Harvey https://t.co/xIGfE9UrtZ — Mudduck (@mudduck_james) September 30, 2024
Additionally, consumer credit card debt was roughly $200 billion in 2000, and it now stands above $1 trillion: https://t.co/LxYv2QYpkr — Reef Insights (@ReefInsights) September 28, 2024
It wasn’t that long ago that candidates vying for the White House tried to win voters over with their plans to reduce the budget deficit, or, better yet, leave the country with no deficit at all. But now, as the dangers of a widening deficit and mounting debt grow, former President Donald Trump and Vice …
For all the cries to "get out of cash," investors are doing the opposite, still piling into money-market funds. Cash-like funds reported $121 billion of flows in the past week, the biggest flow since March 2023, bringing total assets to $6.42 trillion. https://t.co/crqbzAvkay pic.twitter.com/UN3bJjuwdW — Lisa Abramowicz (@lisaabramowicz1) September 27, 2024
The Federal Reserve’s actions during the COVID-19 crisis were extensive and went beyond just purchasing government securities. The Federal Reserve took unprecedented measures to support the economy. By the end of 2020, the Fed had purchased approximately $3.5 trillion in government securities. This was part of a broader effort that included various lending programs and other financial …
This is absolutely mind-boggling! The U.S. government has normalized running a $2 trillion deficit. They better hope there's never an economic downturn, or things could get catastrophic… Oh wait… pic.twitter.com/xZjW4JZkKm — The Cytadel (@thecytadel) September 12, 2024 Gold rising with rising US real rates conveys a simple message that has surprised many US investors but …
Calls to Embrace Reform But many economists and financial experts say that public policymakers need to embrace reform. “What we need is not just a smart Social Security fix, but we need to have a radical reform of our fiscal system,” Kotlikoff said. “It’s not doodling around the current system.” Indeed, he has proposed several …
We are just getting started… h/t IAmNotAnEconomist
https://www.fdic.gov/system/files/2024-09/qbp.pdf Finra, a Wall Street regulator is understating Margin Debt by more than $4 TRILLION dollars, by not counting gigantic Meme Banks who make Margin Loans to Hedge Funds Most market watchers rely on the monthly margin debt figures published by Wall Street’s self-regulator, FINRA, as the reliable gauge in determining how much of securities …
(Bloomberg) — The wealth of ultra-rich families will likely swell to $9.5 trillion by 2030, according to estimates from consultancy Deloitte, as family offices grow and morph to rival hedge funds. The figure would mark a 73% jump from the current $5.5 trillion controlled by people represented by family offices, according to the report. The …
By Pam Martens and Russ Martens: September 3, 2024 ~ The Office of Financial Research (OFR), the federal agency created after the 2008 financial collapse on Wall Street to defog the lenses of federal regulators to prevent a replay of that disaster, has posted frightening graphs on its website as part of its “Hedge Fund …
by confoundedinterest17 Hey Big Spender! (Federal Government). The US government now pays out on average $3bn in interest expenses per day…If the Fed cuts interest rates by 1%-point and the entire yield curve declines by 1%-point, then daily interest expenses will decline from $3bn per day to $2.5bn per day. Even worse, unfunded Federal liabilities total …
Landlords in the commercial real estate sector are indeed facing a significant challenge with $1.5 trillion of debt maturing by the end of next year. Approximately a quarter of this debt could be difficult to refinance due to higher interest rates and lower property valuations. Regarding multifamily assets, around $95 billion of these properties in …
Consumer Credit Card Debt Continues to Grow Consumer credit card debt in the US continues its upward trajectory, reaching a staggering $1.07 trillion as of August 14, 2024. This marks another milestone in the ongoing trend of rising consumer debt, though there are signs that… pic.twitter.com/Il5SBi52Zl — Reef Insights (@ReefInsights) August 27, 2024