US Treasury Posts Gigantic $1.16 Trillion Shortfall in Fiscal 2017, Hilariously Points out “Where We Are Headed”

Wolf Richter, Just add tax cuts and ballooning expenditures. The media chose to silence the report to death.   “If a tree fell in a forest and nobody heard it, did it really make a sound?” asks our … Read more

$500 Trillion in Derivatives “Remain an Important Asset Class”: Hilariously, the New York Fed

Wolf Richter, Oh, and the unintended consequences of trying to regulate a monster. Economists at the New York Fed included this gem in their report on a two-day conference on “Derivatives and Regulatory Changes” since the Financial Crisis: … Read more