I am ramping up the blogs as stuff is starting to happen!
Update, as of October 2, 2019.
The US Manufacturing sector contracted – it’s main index is at the same level it was at in June 2009, which is considered to be the end of the Great Recession. German manufacturing is ALSO at its lowest level since 2009 – also the end of the Great Recession there. These are two of the four largest economies in the world.
The US Fed added $55 Billion to the REPO market Tuesday. They added $63.5 Billion Monday. The overnight lending market is still not functioning normally.
It is hard to believe the “taxes are due, and we had a cash shortage” argument two weeks into the REPO mess. What is the excuse for this now?
Fact – banks are not lending enough into the overnight market. Are they reluctant to lend to one another because they know that a major bank has failed and it is being kept on life-support, and they are reluctant to lend because they do not know who will fail next?
GDP Now in the USA lowered its growth projections for Q3 to 1.8% in the USA. Year over year GDP growth in the USA has not topped 3% since Dubya was the president.
Zuckerberg sold another $90 Million worth of Facebook yesterday.
What’s next?
The US jobs reports will follow this week. Will this be the canary in the coalmine?
Hi appreciate the blog! Where can I find a day by day chart of how many Billions the fed is pumping into the banks? I can’t seem to find it anywhere. Also you mentioned since one bank failed and is on life support. Which bank were you talking about? Thank you!!!
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