We’re running depressionary, not GFC, Fed policy

AIG Bailout $85B

QE Infinity GFC $85B/month

Today
1) $625B/week QE
2) De facto Yield Curve Control via QE price discretion
3) Commercial Paper
4) Municipals
5) CORPORATE BONDS
6) $4.5T lending facility
7) Small business lending

We’re running depressionary, not GFC, Fed policy

US estimated GDP drop ranging from 14% to 30%

  • Satellite imagery combined with alternative data gives a stark look at the U.S. situation during the coronavirus pandemic.
  • These sources are pretty much all that is available at the moment to track the scope of the economic damage since most official statistics tracking the slowdown have not yet been released.
  • Airplanes are parked on unused runways, the busiest highways are empty during rush hour times, resorts have become ghost towns, ports are seeing sharp drops in shipping activity and more.
  • The drop in U.S. consumer and business activity is apparent in satellite imagery collected by companies like Maxar Technologies, Planet Labs, ICEYE and Orbital Insight.