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What in the World Is the Federal Reserve Thinking???…

You don’t use up all of your ammunition before the battle even begins. The U.S. economy has not even officially entered recession territory yet, although many experts are definitely anticipating one in 2020. When that recession arrives, the Federal Reserve is going to want as much ammunition to fight it as possible. So I was […]

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New York Fed’s Repo Loans Are Foaming the Hedge Fund Runways…

There is growing evidence that the New York Fed, the Wall Street feeding tube team of the Federal Reserve Board of Governors, is using its massive new repo loan operations to securities firms (primary dealers) to foam the Wall Street runways to try to avoid a crash landing as money gushes out of hedge funds […]

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China’s IP Theft Remains a Thorny Issue in Trade Talks…

Whether the United States and China will sign the first part of a trade deal at the APEC meetings in Chile isn’t yet certain, and one obstacle in the ongoing talks is China’s stance on intellectual property. This is one of the most problematic issues in the trade talks, as Beijing wouldn’t “move the needle” […]

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‘A Government of the Millionaires, by the Millionaires, for the Millionaires…

Way back in 1863 Abraham Lincoln gave his famed ‘Gettysburg Address’. In it he described ‘a government of the people, by the people, for the people’. Great words. But words are all they were. Fast forward 250 years or so and those famous words have now mutated into ‘government of the millionaires, by the millionaires, […]

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Krugman Admits He and Mainstream Economists Got Globalization Wrong…Ya Think?…

Paul Krugman, Nobel-prize winning economist and avowed champion of free trade, admits he and his colleagues got a few things seriously wrong about globalization, in particular around its downside impact on local labor markets. “We missed a crucial part of the story,” Krugman wrote in a Bloomberg article in October, referring to members of the […]

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The Fed Fears an Explosion on Wall Street: Here’s How JPMorgan Lit the Fuse…

JPMorgan Chase is the largest bank in the United States with $1.6 trillion in deposits from more than 5,000 retail bank branches spread across the country. When it withdraws liquidity from the U.S. financial system, that has a reverberating impact. According to the filings that JPMorgan Chase makes annually with the Securities and Exchange Commission […]

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UAW-GM Strike Ends, Union Turns to Ford…

The longest nationwide strike against General Motors Co. in nearly 50 years ended Friday, when a majority of members ratified a new four-year deal with General Motors Co. and the union turned its attention to Ford Motor Co. The week-long vote ends a 40-day strike that cost members thousands of dollars each, GM as much […]

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Nancy Pelosi ‘fiddles while the USMCA is in the deep freeze’…

The U.S-Mexico-Canada Agreement is ready to go, but the Trump administration blames one person for holding it back: House Speaker Nancy Pelosi. “She fiddles while the USMCA is in the deep freeze,” White House trade adviser Peter Navarro told FOX Business’ “Mornings with Maria” on Thursday. “The false narrative here is this whole issue about […]

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Peter Navarro Discusses Structure of USMCA to Create North American Manufacturing Base…

White House Trade and Manufacturing Advisor Peter Navarro appears on Fox Business to discuss the purpose and intent of the USMCA and the ongoing China trade discussions. What Navarro skims upon is the heart of the economic purpose behind the USMCA as requested by President Trump and constructed by USTR Lighthizer. The USMCA establishes an […]

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WeWork’s Unraveling Is Another Indictment of Wall Street’s Universal Bank Model…

WeWork is just one more in a long series of Wall Street scandals that prove that the universal banking model is little more than a thinly-disguised wealth transfer system from the pockets of average Americans to the 1 percent. Just two months ago WeWork’s two lead Wall Street underwriters, JPMorgan Chase and Goldman Sachs, were […]

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The Brexit Deal, The EU, and the North American Trade Aspect…

Trying to find the details within the U.K-EU Brexit deal is more difficult than finding evidence of a Yeti. The negotiating team secrecy is inherent to the way the elites within the European systems work. Essentially the “betters” rule the proles by hiding the details and relying upon the electorate to “trust” the outlined framework […]

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Mexico’s President Obrador Gives Democrats the Pledges They Were Looking for on USMCA Trade Deal…

Mexican President Andrés Manuel López Obrador vowed in writing Thursday to pursue the labor reforms that House Democrats say are crucial if they are to support President Trump’s U.S.-Mexico-Canada agreement on trade. Democrats welcomed Mexico’s pledge on the trade deal, which would replace the 1993 North American Free Trade Agreement. “Our government is committed to […]

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Nancy Pelosi’s USMCA Strategy for 2020 is Contingent Upon the Canadian Election…

Earlier today Nancy Pelosi was questioned about why the House was not voting to pass the USMCA trade agreement. Speaker Pelosi immediately fell back upon her talking point: “we are working toward yes.” This is complete hogwash. There are no discussions. Pelosi is doing what Pelosi does best, politicizing anything positive for the U.S. economy […]

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UAW Sending GM Deal to Members; Strike Continues…

The United Auto Workers is sending a tentative agreement with General Motors Co. to its members, the union said Thursday, that promises permanent jobs for temporary employees, record ratification bonuses and the elimination of a cap on profit sharing. Workers would stay on strike until ratification. The proposed contract would give 3% base-wage increases in […]

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Libra Is Dead: eBay, Stripe, Visa and MasterCard All Abandon Facebook’s Cryptocurrency…

One week after we reported that Facebook’s Libra stablecoin project, Libra, was imploding, as online payment giant PayPal quite the Libra network, we can now set the time of death to today – that’s when first eBay, then Stripe and finally Mastercard all abandoned Mark Zuckerberg’s pet “cryptocurrency” (which was anything but) project. As the […]

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After Unveiling ‘NotQE’, Fed Eases Liquidity Rules for Foreign Banks (Rescues Deutsche)…

Having cracked down on Deutsche Bank in the past, The Fed appears to be playing good-regulator/bad-regulator as The FT reports that Deutsche is expected to benefit most from an imminent change in The Fed’s liquidity rules. Specifically, US banking regulators have dropped an idea to subject local branches of foreign banks to tough new liquidity […]

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