Banking system will implode if this happens…

 

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Former Fed Vice Chair Alan Blinder Puts Recession Odds at 90 Percent

CNBC’s “Squawk Alley” team discusses market volatility and the outlook for the U.S. economy with Alan Blinder, former Federal Reserve vice chair.

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Treasuries Yielding Next to Nothing Aren’t Hedge They Used to Be

Cratering U.S. Treasury yields may be eroding the haven quality of some of the world’s safest assets, according to a growing chorus on Wall Street.Goldman Sachs Group Inc. says the coronavirus panic-driven plunge in yields makes the sovereign debt vulnerable to a correction…

Virus Is at Bear Sterns Moment and May Get Worse, Summers: Bloomberg

The coronavirus threatens both public health and the global economy and may prove to be the most serious crisis of the century so far, former U.S. Treasury Secretary Larry Summers said, adding that policy makers haven’t yet been able to grasp its gravity.

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