Finance
After last week’s financial turmoil, but before the CS/UBS deal, real rates and inflation breakevens were down, while risk and uncertainty indicators were up. Figure 1: Two year Treasury yield (teal, left scale), and 5 year Treasury-TIPS breakeven (pink, right scale),…
By Eric Peters, CIO of One River Asset Management“They went big last weekend, which was the right thing to do,” said the Chairman, a veteran of financial crises, the two of us discussing the ongoing bank run, how policy can end…
The market is not yet convinced by this weekend's actions, but it's getting there as Michael Hartnett notes:"The market stops panicking when central banks start panicking"Equity futures are higher, but are fading back...Treasury futures opened down in price but have ripped…
Authored by Jonathan Turley,While lost in the explosive news about Donald Trump’s expected arrest, journalist Matt Taibbi released new details on previously undisclosed censorship efforts on social media. The latest Twitter Files revealed a breathtaking effort from Stanford’s Virality Project to…
"The market stops panicking when central banks start panicking"In January 2022, just around the time the Fed announced it was launching its most aggressive tightening campaign since Volcker, we warned "remember, every Fed tightening cycle ends in disaster and then, much…
Senator Elizabeth Warren (D-MA) says Federal Reserve Chair Jerome Powell has racked up "an astonishing list of failures," which contributed to the implosion of Silicon Valley Bank and Signature Bank, Bloomberg reports."SVB and Signature accumulated risk and made dangerous decisions about…
Authored by Lance Roberts via The Epoch Times,“QE” or Quantitative Easing has been the bull’s siren song for the last decade, but will “Not QE” be the same?Last week, amid a rash of bank insolvencies, government agencies took action to stem…
It really is a brilliant strategy on the part of conservative states. As the political left goes further into ideological extremism they become more and more intolerant of restrictions on their behavior, which they view as righteous and sacrosanct. Zealotry breeds…
Authored by MN Gordon via EconomicPrism.com,“The bank is something more than men, I tell you. It’s the monster. Men made it, but they can’t control it.”– John Steinbeck, The Grapes of WrathNegative CarryBorrowing short and lending long works mostly well most…
Today may be the most important/culminating of my professional life. Together with dozens of colleagues and collaborators, I’m releasing/launching a series of papers, initiatives and other work. Thanks especially to one of my favorite journalists, @RanaForoohar, — (((E. Glen Weyl))) stands…
As former President Jimmy Carter nears death, an aging Texas politician has come forward to get something big off his chest -- claiming that, in 1980, he accompanied former Texas governor John Connally on a whirlwind Middle East tour aimed at keeping Americans…
Via SchiffGold.com,Given the potential impacts of the ongoing banking crisis, I will start this article with the conclusion.The current banking crisis could not have come at a worse time for the Comex system. Inventories have seen massive depletion over the last…
The maiden flight of the US Air Force's B-21 Raider has been delayed until the end of the year, USAF Secretary Frank Kendall told reporters in Washington on Wednesday. "It's slipped from the original schedule — that we were using as a…
Authored by Jonathan Turley,I recently wrote how public educators and unions were methodically killing public education. The best example this week comes from New York where a school board committee has solved the dismal math and reading scores for children in the system…
Antologia De Música Atípica Portuguesa Vol 2: Regiões (2019) - Marginal REVOLUTION Thank-you! You've been successfully added to the Marginal Revolution email subscription list.
by Calculated Risk on 3/19/2023 11:48:00 AM There is uncertainty regarding FOMC policy this month due to the banking issues. Just two weeks ago, the debate appeared to be between a 25bp hike and a 50 bp hike at the March…
The Swiss government is close to announcing a deal for UBS to buy Credit Suisse, its smaller rival, for about $1 billion.The Swiss government is close to announcing a deal that would involve UBS buying Credit Suisse, its smaller, beleaguered rival,…
Authored by Michael Clements via The Epoch Times (emphasis ours),Sen. Lindsey Graham (R-S.C.) said Senate Republicans are set to introduce on a bill on Thursday that would codify the right to bear arms for self-defense outside the home.Sen. Lindsey Graham (R-S.C.)…
Update (1128ET): Bank news is moving quickly on Sunday morning. According to Bloomberg, the Federal Deposit Insurance Corp (FDIC) is preparing to break up Silicon Valley Bank. Sources who wished to remain anonymous stated that the FDIC plans to sell SVB in at least…
Authored by Alex Pollock abd Paul Kupiec via The Mises Institute,How should Congress assess the Federal Reserve’s track record as an investor in residential mortgage-backed securities (MBS)? Regardless of Fed spin, it merits a failing grade.The Fed’s COVID-era intervention in the…
Some of Florida's top beaches are at risk of a dual catastrophe as poisonous algae bloom, commonly referred to as 'red tide,' is causing the death of wildlife and poses a health threat to people. Now, a massive 5,000-mile-wide blob of…
Update (10:30am ET): So much for Credit Suisse thinking it has leverage by balking at the proposed CHF0.25 offer from UBS. Just hours after it was floated that UBS could buy Credit Suisse for $1BN, a proposal which the bank's shareholders…
Authored by A.B. Stoddard via RealClear Wire,In the prospective 2024 nominating contest, some GOP wannabes are serving up straight talk about the need to fix Medicare and Social Security, even though Donald Trump banished entitlement reform from Republican doctrine in 2016.…
NATO Secretary-General Jens Stoltenberg was quick to hail and celebrate the Friday announcement by Turkish President Tayyip Erdogan that his country will ratify Finland's application to join NATO. The NATO chief told Reuters that it is a "a good day for everyone…
Authored by Paul Joseph Watson via Summit News,Oxfam has released an “inclusive language” guide which apologizes for using the English language before going on to deem a number of words ‘offensive’, such as “headquarters,” “local,” “people,” “mother” and “feminine hygiene.”Yes, really.The…
Protests and strikes that have disrupted France for weeks have grown more intense after the government yesterday decided to force through a controversial reform raising the minimum standard retirement age from 62 to 64. The change has been in the making…
PricewaterhouseCoopers (PWC), the global business services firm, has signed a deal with OpenAI for access to “Harvey”, OpenAI’s Chatbot for legal services. Reuters: PricewaterhouseCoopers said Wednesday that it will give 4,000 of its legal professionals access to an artificial intelligence platform,…
Authored by Marie Hawthorne via The Organic Prepper blog,Fighting between Russia and Ukraine has been going on for a little over a year now, ending the lives of hundreds of thousands of young men and displacing millions. Ukraine’s Defense Minister, Oleksii…
At Long Last, a Donkey Family Tree New York Times Climate/Environment Cradle-to-grave emissions from food loss and waste represent half of total greenhouse gas emissions from food systems Nature Albania designates Europe’s last ‘wild river’ as a national park Ekathimerini Pentagon…
By Irana Slav, a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. Originally published at Oilprice.com. “We know that the transition will not be a straight line. Different countries and industries will move at different…
In their February paper, “US Dollar Primacy in an Age of Economic Warfare,” presented at the West Point Symposium on “Order, Counter-Order, Disorder” Michael Kao and Michael St. Pierre argue for using a stronger US dollar as geopolitical leverage: Not only…
Here is an old reader email query from 2015: I started by asking, why are there so few Indonesians in the US? The email subject is just a juicy comparison. Indonesians are outnumbered in the U.S. by 14 other Asian-American sub-groups. Most…
Authored by Savannah Hulsey Pointer via The Epoch Times (emphasis ours),The Foundation for Government Accountability (FGA) is launching an investigation into a recent executive order the group called an “unprecedented scheme” they believe violates the democratic process.US President Joe Biden discusses…
For much of human history, most people did not live in cities.As Visual Capitalist's Pallavi Rao details below, cities - settlements that are densely populated and self-administered - require many specific prerequisites to come into existence. The most crucial, especially for much…
Authored by Zachary Stieber via The Epoch Times (emphasis ours),Dr. Anthony Fauci responded on March 15 to a newly released email that said he was among those who “prompted” work on analyzing how COVID-19 came about, which resulted in a paper…
One major question posed by recent events is whether the issues SVB faced would’ve been caught had EGRRCPA not been passed (which raised the threshold for what qualifies as a SIFI). Bill Nelson at the Bank Policy Institute has an illuminating…
Air pollution is the greatest environmental health hazard to humankind, leading to over six million deaths a year and an economic cost that equates to over $8 trillion dollars.That’s according to the World Air Quality Report 2022 released Tuesday by Swiss air quality…
Authored by Samantha Flom and Steve Lance via The Epoch Times (emphasis ours),There’s a growing divide between the rank-and-file officers of the FBI and upper management, according to FBI agent-turned-whistleblower Steve Friend, and it’s those at the top who are pushing a…
What do you call it when an 80-year-old seeks the advice of a 92-year-old?Answer: the worst financial crisis since Lehman.TMRealizing that Berkshire Hathaway had a near-record $128 billion in cash at the start of the year, more than most countries...... Joe…
Submitted by Gun Owners of America,Remember the Cornyn-Murphy Compromise that Gun Owners of America and our members warned Congress about? We were loud and clear about how this legislation did nothing to end mass public murders and only infringed on gun owners' rights.We…
Via The Canary,Arab leaders are offering Syrian President Bashar al-Assad a deal that includes billions of dollars for reconstruction efforts and a pledge to lobby the west to lift sanctions in exchange for "[asking] Iran to stop expanding its footprint in…
Authored by David Stockman via InternationalMan.com,Why would you throw-in the towel now? We are referring to the Fed’s belated battle against inflation, which evidences few signs of having been successful.Yet that’s what the entitled herd on Wall Street is loudly demanding.…
Americans have been battered by two years of negative real wage growth as personal savings are depleted while credit card debts jump to record highs. Shelter inflation continues to soar while housing affordability is at its lowest in decades. Homeownership has become unattainable for…
Deceleration was still in place, according to the WEI. Figure 4: Lewis-Mertens-Stock Weekly Economic Index (blue), OECD Weekly Tracker (tan), Baumeister-Leiva-Leon-Sims Weekly Economic Conditions Index for US plus 2% trend (green). Source: NY Fed via FRED, OECD, WECI, and author’s calculations. Still, nowcasts and tracking…
Authored by Jonathan Turley,There is an interesting development in the controversy at Stanford Law School where U.S. Circuit Court Judge Kyle Duncan was shouted down by law students and condemned by a law school dean for discussing his conservative judicial views.Student protesters reportedly published the names…
A CNN reporter fell victim to a 'smash-and-grab' robbery while reporting on San Francisco's "rampant street crime." In a series of tweets on Friday, CNN correspondent Kyung Lah described how her rental car's rear window was smashed within seconds by thieves who then made…
Authored by Kenneth Rogoff, op-ed via The Financial Times,The Fed’s expansive actions to prevent the Silicon Valley Bank collapse from becoming systemic, followed by the Swiss National Bank’s massive lifeline to troubled Credit Suisse, left little doubt this week that financial…
Authored by Alex Berenson via Unreported Truths,Last night, The Atlantic - of course it was The Atlantic - had BREAKING NEWS!And by BREAKING NEWS I mean yet another migraine-inducing story purporting to show that Sars-Cov-2 emerged naturally, rather than leaking from…
By Dhaval Joshi, chief strategist at BCA ResearchExactly one year ago today, the US Federal Reserve embarked on the most aggressive tightening cycle in modern history. It comes as no surprise then that the US has just passed two of the…
Bankers at the London branch of Silicon Valley Bank reportedly received tens of millions of dollars in bonuses just days after the Bank of England orchestrated a rescue package that led to Europe's largest lender, HSBC, buying the failed bank's subsidary…