Economics And Finance
US Lawmakers Ask Federal Reserve About National Digital Currency
Members of the United States House of Representatives Financial Services Committee asked the Federal Reserve whether there are any plans of launching a U.S. dollar digital currency. US Lawmakers Ask Federal Reserve About National Digital Currency Fed Has The Mandate To Develop A National Digital Currency In a Sept. 30…
Service Sector And Manufacturing Jobs Drop To 3 And 10 Year Lows (#GotBitcoin)
U.S., Eurozone Services Stumble Threatens Sharper Global Slowdown. Service Sector And Manufacturing Jobs Drop To 3 And 10 Year Lows (#GotBitcoin) Economic indicators suggest a manufacturing downturn is spreading. U.S. and eurozone services-sector activity softened in September, according to surveys of purchasing managers, suggesting a manufacturing downturn is spreading to…
The Real Story Of The Repo Market Meltdown, And What It Means For Bitcoin
Last week the financial system ran out of cash. It was a modern version of a bank run, and it’s not over yet. The Real Story Of The Repo Market Meltdown, And What It Means For Bitcoin Stepping back, it reveals two big things about financial markets: first, US Treasuries…
U.K. Experience Suggests An Inverted Yield Curve Isn’t All Gloom
In the U.S., a drop in long-term yields below short-term rates typically portends a recession, but that relationship may be breaking down. U.K. Experience Suggests An Inverted Yield Curve Isn’t All Gloom And Doom A widely watched U.S. recession signal has been blinking red for months now. Yet the performance…
$381 Billion Annual Gap Between Taxes Owed And Taxes Collected (#GotRecession?)
The government’s first report on the “tax gap” since 2016 shows tax compliance holding steady as the IRS shrinks. However, the study covers tax years 2011 through 2013, and the IRS has reduced audits and staffing considerably since then. $381 Billion Annual Gap Between Taxes Owed And Taxes Collected (#GotRecession?)…
The Coming Currency War: Digital Money vs. The Dollar (#GotBitcoin?)
Central banks are getting closer to issuing their own digital currency. If they do, the dollar might finally face real competition as the world’s dominant currency. The Coming Currency War: Digital Money vs. The Dollar (#GotBitcoin?) The future of money might be a digital version of the cash that’s already…
Freddie Mac Pushes For Loans To Sub-Prime Borrowers (WTF?)
Regulator recently met with housing-finance giant and the fintech firm behind the software. Freddie Mac Pushes For Loans To Sub-Prime Borrowers (WTF?) An effort under way at housing-finance giant Freddie Mac could increase mortgage approvals for borrowers who might otherwise be shut out of home buying. Freddie has been testing…
Trumponomics Delivers First Manufacturing Contraction In Nearly A Decade
• The U.S. manufacturing PMI (purchasing managers index) was 49.9 in August, below the neutral 50.0 threshold for the first time since September 2009, according to IHS Markit. Trumponomics Delivers First Manufacturing Contraction In Nearly A Decade • New orders received by manufacturers dropped the most in 10 years, while…
When Sales At Struggling Chains Fall Faster Then Commercial Rents (#GotRecession?)
Barneys’ fight with landlord is an extreme example of an issue bedeviling many retailers: high rents. When Sales At Struggling Chains Fall Faster Then Commercial Rents (#GotRecession?) Don’t blame all the vacant stores on e-commerce. Sky-high rents are squeezing retailers, too. Although commercial retail rents are down from recent peaks,…
Kiva Is Saving The World One Micro-Loan At A Time!
We envision a financially inclusive world where all people hold the power to improve their lives. Kiva Is Saving The World One Micro-Loan At A Time! More than 1.7 billion people around the world are unbanked and can’t access the financial services they need. Kiva is an international nonprofit, founded…
Bitcoin Is The Fraud? JPMorgan Metals Desk Fixed Gold Prices For Years (#GotBitcoin)
Trump Administration Unable And Unwilling To Prosecute Banksters. Bitcoin Is The Fraud? JPMorgan Metals Desk Fixed Gold Prices For Years (#GotBitcoin) The United States’ largest bank faced fresh ridicule from Bitcoin (BTC) circles this week after prosecutors said traders had conducted more market fraud. As Bloomberg reported on Sept. 16,…
Fed Injects Tens Of Trillions Into Markets As Liquidity Dries-Up (#GotBitcoin?)
The Fed said Thursday that its balance sheet stood at $4.18 trillion as of Wednesday, versus $3.8 trillion in September. Peak Fed holdings were $4.5 trillion. About $229.5 billion in repo interventions were also outstanding on Wednesday, versus $210.6 billion on Jan. 9. Fed Injects Tens Of Trillions Into Markets…