CPI Inflation at 5%. This is not good news. Remember with $31T of Federal debt and $182T of unfunded liabilities the Treasury needs constant inflation to pay off the debt.
Interest expense is at 111% of tax receipts.
This won't go how most think.
I just got off the phone with what was once a great American brand. Lots of problems, no accountability for high paid execs and little interest in my help (at no cost). This could get interesting.
I think the Fed just gave the banks a way to launder all depositor money into the Treasury. Follow me for a sec:
-Fed opens up credit facility that lends at OIS rate plus 10bps
-This facility values all bonds at par, mark to market losses are irrelevant
-Banks can now dump excess cash into Treasuries, regardless of how poorly they do, and then use them as collateral to get low-interest loans
-They can use these funds to buy even more Treasuries, all with high yields= $$$
-rinse and repeat
How is this not pushing the $19.3T of bank deposits into the Treasury? Seems like a roundabout way to get the working class to bail out the government...and the banks keep the profits.
Let me get this straight:
SVB's Chief Administrative Officer was the CFO of Lehman Brothers' Investment Bank when it collapsed.
SVB's Chief Risk Officer was the Managing Director at Deutsche Bank during 2008 AND led credit ratings in 2007.
The CEO was a director at the San Francisco Fed from 2019 to the present.
You can't make this shit up ....
Cost of a single dose of Humira for arthritis:
US: $3,216
Italy: $526
Germany: $420
France: $248
No. Abbvie should not have been able to jack up the price of Humira in the US by over 470% since 2003 - allowing it to make $114 billion in 6 years. We must end this corporate greed.
Would you invest in this business?
Total debt: $31 trillion
Assets: $4.8 trillion
Annual revenue: $4.9 trillion
Annual Income: $1.4 trillion Loss
This is the US Government.
I believe that our markets aren't as fair and competitive as possible. To modernize our rules for the modern markets and make our markets work better for everyone, we put forward four proposals on key parts of our equity market system.
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