Why The Stock Market Is Rallying
Trump repeated that pre-Coronavirus the U.S. had the strongest economy in world history, and the stock market rally proves it's still strong and that he's doing a great job. The economy was weak before the virus and the market is rising because the Federal Reserve is doing a horrible job.
The Misery Of A Socialist Decade
When Nixon took the U.S. off the gold standard in 1971, he reluctantly proclaimed "I am now a Keynesian in economics," ushering in a decade of rising inflation, unemployment, and interest rates. We have now moved beyond Keynes. The misery of a socialist decade will be far worse.
Federal Reserve: 3.5 months of QE3 in 1 week
It took the Federal Reserve a bit longer to finish the calculations, but its balance sheet rose by $284.7 billion last week. That's another 3.5 months of QE3 in 1 week. The Fed's balance sheet now stands at $6.368 trillion. But it won't stand there for long as it marches toward $10 trillion!
Some Perspective On Initial Claims
A total of 22.034 million initial jobless claims have been filed over the past 4 weeks. That's 59.36% of the Great Recession's entire 18-month total of 37.118 million.
