Category: Finance

Authored by Mike Shedlock via MishTalk.com, Banks are so overloaded with cash they are losing money on deposits… No More Cash Please  Some banks, awash in deposits, are encouraging corporate clients to spend the cash on their businesses or move it elsewhere. It’s a strange case of “No More Cash Please“. U.S. companies are holding… Continue reading Banks Are So Stuffed With Cash They Tell Companies: No More Deposits

Another quarter, another record high in (mostly 0.01%er) household net worth. The Fed’s latest Flow of Funds report released at noon today showed the latest snapshot of the US “household” sector as of March 31 2021, which confirmed that one year after the biggest drop in household net worth on record when $8 trillion was… Continue reading Household Net Worth Hits Record $137 Trillion, Up $25.6 Trillion Since COVID

Update (1900ET): The bipartisan group has agreed to pitch a $1.2 trillion eight-year infrastructure spending package to the Biden administration, according to Bloomberg, citing an anonymous source familiar with the deliberations. The proposal is notably backed by Sen. Joe Manchin (D-WV), and calls for $579 billion in net new spending “beyond outlays that Congress was… Continue reading $1.2 Trillion Manchin-Backed Infrastructure Plan Reached By Bipartisan Group Of Senators

“Fool me once, shame on… shame on you. Fool me… you can’t get fooled again,” were the infamous words of former President Bush and we suspect that Steve Cohen protégé Gabe Plotkin is reflecting on those stoic words as he looks back at his fund’s performance in May. Plotkin’s Melvin Capital – infamously blown-up by… Continue reading Melvin Capital Among Hedge Funds Losing $6 Billion On Latest Meme Squeeze

Today’s big upside inflation surprise piles on the stagflationary evidence as production expectations remain too optimistic… Source: Bloomberg The flip-flopping continues with Small Caps down today and Big-Tech up. The Dow ended unch and S&P modestly higher to a new record close… The ratio remains rangebound… The original so-called “Meme Stocks” were monkeyhammered today, biggest… Continue reading Bonds & Bullion Bid As Meme-Stocks Are Monkey-Hammer’d

Journalist Jeffrey Toobin, who was suspended by CNN and fired from The New Yorker after he was caught masturbating on a zoom call last October in full view of colleagues, has been allowed back into the fold at the failing cable news network following a six-month period of ‘reflection and growth.’ Hilariously, he had to… Continue reading From Spank Bank To Food Bank: Toobin Post-Masturbation Redemption Tour Kicks Off

Authored by Tom Ozimek via The Epoch Times, Guatemalan President Alejandro Giammattei criticized the Biden administration for unclear messaging on immigration that he said contributed to the border surge. Then President-elect Alejandro Giammattei speaks during a interview with AFP in Guatemala City, Guatemala, on Aug. 12, 2019. (Johan Ordonez/AFP via Getty Images) Giammattei told Fox News that, “You can… Continue reading Guatemala’s President Says Biden Admin’s Unclear Messaging On Illegal Immigration Fueled Border Surge

Less than a week ago, we reported that the US COVID-19 vaccination scheme had fallen dramatically in recent weeks, likely a factor of a drop in new cases combined with an easing of facemask requirements. And as President Biden scrambles to hit his July 4 target to vaccinate more than 70% of adults, a goal… Continue reading Public Health Officials Stumped As Southern States’ Vaccination Rate Continues To Drag

Authored by Jack Phillips via The Epoch Times, Sen. Lindsey Graham (R-S.C.) said former President Donald Trump would have won the 2020 election if investigations into the origin of COVID-19 and whether it escaped from a laboratory in Wuhan, China, were not politicized. “If COVID-19 had come about due to a Chinese lab leak, the top question… Continue reading Sen. Lindsey Graham: Trump Would Have Won 2020 Election If Wuhan Lab Leak Theory Was Proven