Economics And Finance
Stimulus Bill Allows Federal Reserve To Conduct Meetings In Secret (#GotBitcoin?)
Gives Fed $454 Billion Slush Fund for Wall Street Bailouts. Stimulus Bill Allows Federal Reserve To Conduct Meetings In Secret (#GotBitcoin?) The U.S. Senate voted 96-0 late yesterday on a massive bailout of Wall Street banks versus a short-term survival plan for American workers thrown out of their jobs –…
Dramatic Stock Rise Over-shadows Record 55 Million Rise In Jobless Claims (#GotBitcoin)
More than 3 million workers file for jobless benefits as coronavirus hits the economy. Dramatic Stock Rise Over-shadows Record 55 Million Rise In Jobless Claims (#GotBitcoin) [embed]https://www.youtube.com/watch?v=X195Hhca0xI&list=PLU1KxUVqGmaNyACrltXcWcA3yXK7JFVrU[/embed] A record 3.28 million workers applied for unemployment benefits last week as the new coronavirus hit the U.S. economy, marking an abrupt end…
Digital Payments Soar Amid Coronavirus Restrictions (#GotBitcoin?)
In Italy, e-commerce transactions have risen 81% since the end of February, McKinsey says. Digital Payments Soar Amid Coronavirus Restrictions (#GotBitcoin?) [caption id="attachment_16828" align="aligncenter" width="600"] An Instacart Shopper Scans Bar Codes While Picking Up Groceries For A Delivery Customer In North Hollywood, Calif.[/caption] Digital-payment services are facing a surge in…
Canada’s Largest Bank Is Amongst First Victims Of Mortgage Debt Crisis (#GotBitcoin?)
Canada’s largest bank by assets is moving to protect itself as pain spreads through the mortgage market. Canada’s Largest Bank Is Amongst First Victims Of Mortgage Debt Crisis (#GotBitcoin?) The Royal Bank of Canada RY 5.89% moved Wednesday to unload hundreds of millions of dollars worth of commercial real-estate debt…
Federal Reserve Taps BlackRock To Purchase Bonds For The Government (#GotBitcoin)
World’s largest money manager by assets to purchase agency CMBS on behalf of New York Federal Reserve. Federal Reserve Taps BlackRock To Purchase Bonds For The Government (#GotBitcoin) The Federal Reserve on Tuesday asked BlackRock Inc. to steer tens of billions of dollars in bond purchases, a reflection of the…
Economic Downturn Could Cost Five Million U.S. Jobs (#GotBitcoin?)
Economic output seen shrinking by as much as $1.5 trillion with recession all but certain. Economic Downturn Could Cost Five Million U.S. Jobs (#GotBitcoin?) The fallout from the coronavirus outbreak is expected to have a significant negative impact on U.S. economic prospects, with predictions emerging for losses of up to…
Consumers Face A Massive Credit Crunch. Lenders Are Still Figuring Out What To Do (#GotBitcoin?)
Out-of-work customers could miss loan payments and suffer plunging credit scores; lenders and credit-reporting firms are being asked to help. Consumers Face A Massive Credit Crunch. Lenders Are Still Figuring Out What To Do (#GotBitcoin?) U.S. consumers are facing what could become the biggest credit crunch since the Great Depression.…
Investors Create Cash Shortage As They Sell Everything From Treasurys To Gold (#GotBitcoin?)
A rush for cash shook the financial system Wednesday, as companies and investors hunkered down for a prolonged economic stall, taking the recent market turmoil into a new, more troubling liquidation phase. Investors Create Cash Shortage As They Sell Everything From Treasurys To Gold (#GotBitcoin?) Investors sold nearly everything they…
Bitcoin, Not Governments Will Save the World After Crisis, Tim Draper Says
Amid some notable recovery of Bitcoin (BTC) after a number of subsequent market crashes last week, billionaire investor Tim Draper delivered another optimistic forecast about Bitcoin. Bitcoin, Not Governments Will Save the World After Crisis, Tim Draper Says In a March 16 interview with 415 Stories podcast, Draper outlined decentralization…
JPMorgan Sees Negative GDP Growth In Addition To Negative Interest Rates (#GotBitcoin?)
An economic slowdown is inevitable in the face of the fast-spreading coronavirus, but the U.S. will eventually avoid a technical recession, JPMorgan economists said. JPMorgan Sees Negative GDP Growth In Addition To Negative Interest Rates (#GotBitcoin?) As the outbreak situation continued to worsen, JPMorgan slashed its forecast for U.S. and…
All $11.5 Trillion Of Stock Market Gains Wiped Out Since Trump 2016 Election Victory (#GotBitcoin?)
Thursday's massive sell-off has erased any remaining stock market gains made since President Trump's 2016 election win. All $11.5 Trillion Of Stock Market Gains Wiped Out Since Trump 2016 Election Victory (#GotBitcoin?) * Thursday's Steep Sell-Off Erased All Remaining Gains Made In The Stock Market Since President Trump's 2016 Election…
QE4 Begins: Fed Cuts Rates, Buys $700B In Bonds; Bitcoin Rallies 7.7%
The Federal Reserve decided it had to act quickly and severely to cut rates on Sunday, slashing the target fed fund rates — the interest depository institutions charge one another overnight for reserves — to between 0.0 and 0.25 percent. QE4 Begins: Fed Cuts Rates, Buys $700B In Bonds; Bitcoin…