Archive for March 2023
Manufacturing Down But Not Out
Payrolls in the manufacturing sector finally contract, as the Fed continues to raise interest rates. What do we have left for an economy? It’s bad, but strangely resilient. New Orders Down The Census Bureau just released the Advance Report on Durable Goods. New orders for manufactured durable goods is down, again. It’s been negative for…
Read MoreYou Can Take It To The Bank
Markets have lurched around, reacting to the Fed’s bizarre policy reversals. Treasury Secretary Janet Yellen has been very clear about Fed policy. Here’s a distillation of her recent statements… We will not bail out the banks. OK, we’ll cover 100% of all depositors, but that’s not a bail out. Naturally, we’ll guarantee 100% of all…
Read MoreMeltdown Update
Carnage continues to spread throughout the financial world. Credit Suisse was six times the size of Silicon Valley. It’s done. First Republic got $30 billion, but that’s not enough. Credit Suisse Last week, I mentioned that Credit Suisse was under attack. That may have seemed out of place, considering I was talking about How To…
Read MoreHow To Control All US Banks
Here’s a great way to seize the entire banking system. (Don’t try this at home.) You’ll know soon if this is in operation. You’ll see more banks collapse. As of this writing, Credit Suisse is now under attack. NOTE: May 14 – Moody’s cut its ranking for the entire U.S. banking system from stable to…
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