“The aid will be facilitated by the Commodity Credit Corp, an agency set up during the Great Depression, and will not require congressional approval.”
“A Reuters analysis of U.S. household data shows that the bottom 60 percent of income-earners have accounted for most of the rise in spending over the past two years even as the their finances worsened – a break with a decades-old trend where the top 40 percent had primarily fueled consumption growth.”
“There were two big temptations to the American Republic of the 1950s; subsequent generations gave in to both of them.”
Read more: https://bonnerandpartners.com/ike-was-right/
“The collapse of the peso comes despite an endless series of measures to halt it.”
“Beinner highlights the increase of global debt, now upwards of $237 trillion and the way the debt has been dispersed as risks to the economy. Rather than banks holding most of the debt as it happened in the financial crisis, this time it’s hedge funds, private equity and investment managers holding most of it. Also worrisome, he says, ratings agencies are again being overly generous with their appraisals allowing for companies with very high debt levels to gain investment-grade ratings.”
Read more: https://finance.yahoo.com/news/fund-managers-say-see-next-economic-crash-looming-144251620.html
“Some wondered if Mario Draghi wasn’t allowing Italian bonds to tumble without ECB intervention, simply to ‘pressure’ the domestic political process against the formation of a populist, Euroskeptic cabinet.”
“Former Reserve Bank of Zimbabwe governor Gideon Gono says he was forced to print money even when he knew it would cause hyperinflation because the government was desperate to forestall a coup by hungry soldiers.”
Read more: https://bulawayo24.com/index-id-news-sc-national-byo-134280.html
“Indians are concerned that a proposed bill, which gives regulators the option to use public deposits to bail out a bank that goes bust, is pushing individuals to hoard cash. The government has repeatedly issued statements to assure the public that their money would be safe. These concerns are heightened by news that emerged in February of a $2 billion fraud at state-run Punjab National Bank, where a jeweler allegedly colluded with a bank employee to siphon off money before leaving the country.”
“Suddenly the ECB has made it clear that Italy’s gain in a ‘hypothetical’ Euro zone exit would be a tremendous loss for Berlin and Merkel. We are confident that the question of ‘how much’ preventing such a loss would be worth to Merkel, will emerge in very short order. As for what Draghi’s statement means for countries with a far smaller Target2 liability which may also consider exiting the monetary union, the answer is two words: ‘green light.'”
“The Greek Finance Ministry in their infinite wisdom has decided that its nation’s taxpayers will only be granted deductions or tax-allowances if payments are made using a debit or credit card.”
