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Tag Archives: Depression

India’s Bond Rating Gets Cut Just Above Junk!…

A Pfennig For Your Thoughts June 2, 2020 * Currencies again rally VS the dollar on Monday! * Gold & Silver continue to move toward Breakout levels…  Good Day… And a Tom Terrific Tuesday to you… I sure hope you’re safe wherever you may be… I simply can’t stand to watch TV for more than a small amount of time, or peruse through Twitter, or check out the new items on Bloomberg… They all contain somebody’s viewpoint on something that I’ll never understand. And I’ll just leave that there…...

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Will we have a depression?

Tim Duy has a recent post that looks at the risk of an economic depression. I mostly agree with his comments, but would like to slightly reframe a few of his points: This isn’t a Great Depression yet but instead a Great Suppression. There was nothing “broken” in the economy in February in the sense of massive imbalances that threatened to be unwound over the course of years. With nothing broken, the economy wants to get back to work and will as soon as we let it. You...

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Unintended consequences of monetary inflation

Goldmoney Insights “In short, the Fed is committed to rescue businesses from the greatest economic catastrophe since the great depression and probably even greater than that, to fund the US Government’s rocketing budget deficits, fund the maintenance of domestic consumption directly or indirectly through the US Treasury, while pumping up financial markets to achieve these objectives and preserve the illusion of national wealth. “Clearly, we stand on the threshold of an unprecedented monetary...

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Daily Pfennig – April 20, 2020

A Pfennig For Your Thoughts * dollar bugs win back the conn, what gives?  * Gold see another engineered takedown on Friday….  Good day… And a Marvelous Monday to you! Another week in the books on staying at home…. I did venture out to my scans and oncologist visit last week, but I practiced personal distancing, except with my oncologist, who had to examine me…. I’m telling you this now, so maybe you’ll listen to me later, but I still can’t believe Americans are abiding by the stay at home...

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Peter Schiff: What Is the Economy Going to Recover to?

A lot of people still seem to think at some point, Donald Trump will flip a switch and the government will start humming again. As Peter Schiff explained in his podcast Friday that’s not going to happen. The best we can hope for is recovering from a depression to the recession we were going to have anyway.We got the monthly jobs report for March on Friday. It was bad. But not as bad as what we’re going to see in April.The economy lost 701,000 jobs last month. That was the first contraction...

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The “d” word

I don’t know exactly why the stock market has been plunging, but this report provides some context: Boston Mayor Marty Walsh announces libraries closing, construction projects halting Think about the implication of that report, and the fact that it was treated as an afterthought in the Boston Globe newspaper.  In recent days we’ve seen many seemingly extreme announcements being made in one city, and then quickly spread to many others.  If construction were to shut...

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The Gathering Storm: Could Covid-19 Overwhelm Us in the Months Ahead?

The present disconnect between the science of Covid-19 and the status quo’s complacency is truly crazy-making, as we face a binary situation: either the science is correct and all the complacent are wrong, or the science is false and all the complacent are correct that the virus is no big deal and nothing to fret about. Complacency is ubiquitous: readers on Facebook leave comments on my posts “this is silly.” Correspondents report that people don’t even cover their mouths...

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The Pandemic Isn’t Ending, It’s Just the Beginning of Global Disorder and Depression

Unsurprisingly, denying the pandemic is unstoppable and consequential is the order of the day: authorities everywhere are terrified these realities might leak through all their oh-so-obviously desperate firewalls and filters. Why are they terrified? Because they know the entire global economy, including the linchpin Chinese and U.S. economies, was extremely fragile before the pandemic arose: why else the panic-stimulus and panic-repo policies of the Federal Reserve and...

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Burnout Nation

A number of recent surveys reflect a widespread sense of financial stress and symptoms of poor health in America’s workers, particularly the younger generations. There’s no real mystery as to the cause of this economic anxiety: — competition for secure, well-paid jobs that were once considered the birthright of the middle class is increasingly fierce; — the pay and predictability of the jobs that are available are low; — high-paying jobs are extraordinarily demanding,...

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