Having threatened last week that “COVID reparation” would be paid one way or another – and following Peter Navarro’s comments echoing the same rhetoric this morning – FOX Business reports that President Trump is moving ahead with his plans to block a government retirement fund from investing in Chinese equities considered a national security risk. […]
Yowza!: Deficit Soared to Record-Smashing $738B in April…
The Treasury Department on Tuesday said that the federal government ran a historic $738 billion deficit in April. The shortfall, which reflects the effects of the coronavirus pandemic, is about 3 times as large as the second-largest monthly deficit on record. It is larger than the federal deficit for all of fiscal year 2017, which […]
Wall Street’s Financial Crisis Preceded Wuhan Virus: Chart and Timeline…
If a reputable polling outfit were to ask Americans what caused the current financial crisis on Wall Street, they would say the coronavirus COVID-19 pandemic. If Americans were asked in the same poll when the financial crisis on Wall Street started, they would tie it to outbreaks of the virus in the U.S. this year. […]
The New York Fed Is Exercising Powers Never Bestowed on It by Any Law…
Earlier this month President Trump advanced the view that during a national emergency the President has “total power.” The real power, however, is being exercised by the Federal Reserve Bank of New York (New York Fed) with not so much as one vote by any elected representatives of the citizens of the U.S. The speed […]
Here Are the Contracts Showing How $4.5 Trillion in Stimulus Was Outsourced to Wall Street…
Bloomberg News has an article up today with the headline: “The Fed Loves Main Street as much as Wall Street This Time.” The article is accompanied with a graphic of Fed Chair Jerome Powell shooting equal amounts of money at Main Street and Wall Street. Nothing could be further from the truth. Despite the headline, […]
Treasury Secretary Steven Mnuchin – Warns Big Business Not to Try and Take Funds from Small Business Relief…
Treasury Secretary Steven Mnuchin calls in to Stuart Varney to provide updates on congressional funding for the Paycheck Protection Program (PPP) and the Small Business Administration relief package. Sec. Mnuchin covers a range of topics from Harvard to oil. After discovering that several large companies have applied to the PPP program, Mnuchin warns them about […]
Treasury Secretary Mnuchin Discusses Timing for Coronavirus Support Funds for Workers and Business…
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