By John Mauldin The Federal Reserve is buying mortgage-backed securities with the best of intentions. But there are unintended consequences. Last week, I had a truly horrifying phone call with good friend and real estate expert, Barry Habib. He knows the mortgage business inside and out and he’s very concerned right now. Briefly, the Federal … Read more
By Tom Kool Oil prices exploded on Thursday morning after US President Trump tweeted that he spoke with Saudi Crown Prince Mohammed bin Salman about a potentially ‘huge’ output cut. According to Trump, the production cut from Saudi Arabia and Russia could be as high as 15 million bpd. For anyone wondering why oil prices just spiked … Read more
By John Mauldin In my decade forecast, I projected that in the next recession that the deficit would climb to over $2 trillion. Clearly, that demonstrates I am an optimist. Here’s a chart I shared back in January. Between reduced tax revenues and increased spending, I now expect this year’s deficit will be at least $4 … Read more
By Jared Dillian I am writing from my home library since I’m no longer working in my office in downtown Myrtle Beach. I’ve always resisted working from home because I don’t want to stress out in my own house. But it hasn’t been bad. I have a hot tub, a pool, cigars, and the cats. … Read more
by The Phoenix The single most important chart in the world right now is investment grade credit spreads. The Fed has announced it will buy investment grade corporate debt for the first time in history. The Fed also announced that it will be directly buying investment grade corporate debt ETFs like $LQD. With that in mind, credit spreads … Read more
The 8 member states of the Shanghai Cooperation Organization (SCO), including China, Russia & Pakistan, have decided to conduct bilateral trade & investment and issue bonds in local and national currencies instead of US dollars. BREAKING 🚨🚨 The 8 member states of the Shanghai Cooperation Organization (SCO), including China, Russia & Pakistan, have decided to … Read more
My best guess is that 1) He saw everyone in the world cracking down on dissent. 2) He realized the drug dealers would still need to move product when everyone else is not moving. 3) He is worried more and more jobless people will turn to drugs. so, he’s cracking down when he has a … Read more
Trump appointed judge in Texas. Ruled that such a ban constitutes police powers and that the federal government does not have police powers as part of the Enumerated Powers given to it in the Constitution. From the judge: “Brian Lane lawfully purchased three bump stocks before the rule took effect and raises a Fifth Amendment … Read more
Here’s who doesn’t qualify for a coronavirus stimulus checkwww.businessinsider.com › who-wont-get-coronavirus-stimulus-chec… 1 day ago – Bear in mind that the stimulus payment is technically a tax credit to apply to your 2020 tax bill that the government is providing ahead of time. Question Are the banks that caused this mess and are getting “bailed out” with … Read more
Donald J. Trump Verified account @realDonaldTrump Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas … Read more