Today’s Fed QE, straight from the bowels of the NY Fed.
The belief that central banks printing currency can “buy/fix” everything that’s broken, lost or scarce is the ultimate in denial, fantasy and magical thinking.
Last week I was surprised when the US Government’s retail sales data hit a new high. No way, I said.
Well, Way!
Yes, some retailers are seeing booming sales, particularly online, and … wait for it…
Grocery stores. Even after pulling back from the lockdown spike, they’re still up more than 7% year to year.
Now there’s a basis for a thriving, growing US economy.
Not.
Despite the headline ‘historically fast’ recovery, actual employment remains in dire state
broader indicators of the jobs markets trends are still pointing to a horrific aftermath of the first of this pandemic, with the second wave now in full swing
One of thee major casualties of the COVID19 pandemic has been the U.S. labor market.
Federal Reserve QE resolve has yet to be tested by either dollar or Treasury market instability.
Sweden entered the second wave of the pandemic with a delay, compared to other European states, so its numbers are still lagging those in other Nordic states.
Around two weeks ago, Russia new cases went exponential. Now, there are signs of a similar dynamic in the already rising daily death counts.
Things are running out of control in the EU27 and remain out of control in the U.S. of A.