怎样看懂彩票走势图


Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Could Gold Price Reach $7,000 by 2030? - 6th Aug 20
Bananas for All! Keep Dancing… FOMC - 6th Aug 20
How to Do Bets During This Time - 6th Aug 20
How to develop your stock trading strategy - 6th Aug 20
Stock Investors What to do if Trump Bans TikTok - 5th Aug 20
Gold Trifecta of Key Signals for Gold Mining Stocks - 5th Aug 20
ARE YOU LOVING YOUR SERVITUDE? - 5th Aug 20
Stock Market Uptrend Continues? - 4th Aug 20
The Dimensions of Covid-19: The Hong Kong Flu Redux - 4th Aug 20
High Yield Junk Bonds Are Hot Again -- Despite Warning Signs - 4th Aug 20
Gold Stocks Autumn Rally - 4th Aug 20
“Government Sachs” Is Worried About the Federal Reserve Note - 4th Aug 20
Gold Miners Still Pushing That Cart of Rocks Up Hill - 4th Aug 20
UK Government to Cancel Christmas - Crazy Covid Eid 2020! - 4th Aug 20
Covid-19 Exposes NHS Institutional Racism Against Black and Asian Staff and Patients - 4th Aug 20
How Sony Is Fueling the Computer Vision Boom - 3rd Aug 20
Computer Gaming System Rig Top Tips For 6 Years Future Proofing Build Spec - 3rd Aug 20
Cornwwall Bude Caravan Park Holidays 2020 - Look Inside Holiday Resort Caravan - 3rd Aug 20
UK Caravan Park Holidays 2020 Review - Hoseasons Cayton Bay North East England - 3rd Aug 20
Best Travel Bags for 2020 Summer Holidays , Back Sling packs, water proof, money belt and tactical - 3rd Aug 20
Precious Metals Warn Of Increased Volatility Ahead - 2nd Aug 20
The Key USDX Sign for Gold and Silver - 2nd Aug 20
Corona Crisis Will Have Lasting Impact on Gold Market - 2nd Aug 20
Gold & Silver: Two Pictures - 1st Aug 20
The Bullish Case for Stocks Isn't Over Yet - 1st Aug 20
Is Gold Price Action Warning Of Imminent Monetary Collapse - Part 2? - 1st Aug 20
Will America Accept the World's Worst Pandemic Response Government - 1st Aug 20
Stock Market Technical Patterns, Future Expectations and More – Part II - 1st Aug 20
Trump White House Accelerating Toward a US Dollar Crisis - 31st Jul 20
Why US Commercial Real Estate is Set to Get Slammed - 31st Jul 20
Gold Price Blows Through Upside Resistance - The Chase Is On - 31st Jul 20
Is Crude Oil Price Setting Up for a Waterfall Decline? - 31st Jul 20
Stock Market Technical Patterns, Future Expectations and More - 30th Jul 20
Why Big Money Is Already Pouring Into Edge Computing Tech Stocks - 30th Jul 20
Economic and Geopolitical Worries Fuel Gold’s Rally - 30th Jul 20
How to Finance an Investment Property - 30th Jul 20
I Hate Banks - Including Goldman Sachs - 29th Jul 20
NASDAQ Stock Market Double Top & Price Channels Suggest Pending Price Correction - 29th Jul 20
Silver Price Surge Leaves Naysayers in the Dust - 29th Jul 20
UK Supermarket Covid-19 Shop - Few Masks, Lack of Social Distancing (Tesco) - 29th Jul 20
Budgie Clipped Wings, How Long Before it Can Fly Again? - 29th Jul 20
How To Take Advantage Of Tesla's 400% Stock Surge - 29th Jul 20
Gold Makes Record High and Targets $6,000 in New Bull Cycle - 28th Jul 20
Gold Strong Signal For A Secular Bull Market - 28th Jul 20
Anatomy of a Gold and Silver Precious Metals Bull Market - 28th Jul 20
Shopify Is Seizing an $80 Billion Pot of Gold - 28th Jul 20
Stock Market Minor Correction Underway - 28th Jul 20
Why College Is Never Coming Back - 27th Jul 20
Stocks Disconnect from Economy, Gold Responds - 27th Jul 20
Silver Begins Big Upside Rally Attempt - 27th Jul 20
The Gold and Silver Markets Have Changed… What About You? - 27th Jul 20
Google, Apple And Amazon Are Leading A $30 Trillion Assault On Wall Street - 27th Jul 20
This Stock Market Indicator Reaches "Lowest Level in Nearly 20 Years" - 26th Jul 20
New Wave of Economic Stimulus Lifts Gold Price - 26th Jul 20
Stock Market Slow Grind Higher Above the Early June Stock Highs - 26th Jul 20
How High Will Silver Go? - 25th Jul 20
If You Own Gold, Look Out Below - 25th Jul 20
Crude Oil and Energy Sets Up Near Major Resistance – Breakdown Pending - 25th Jul 20
FREE Access to Premium Market Forecasts by Elliott Wave International - 25th Jul 20
The Promise of Silver as August Approaches: Accumulation and Conversation - 25th Jul 20
The Silver Bull Gateway is at Hand - 24th Jul 20
The Prospects of S&P 500 Above the Early June Highs - 24th Jul 20
How Silver Could Surpass Its All-Time High - 24th Jul 20

Market Oracle FREE Newsletter

The Fed Now Owns All Markets

Politics / Market Manipulation May 13, 2020 - 06:53 PM GMT

By: Michael_Pento

Politics

Since the Great Recession hit in 2008, central banks have been in the business of keeping insolvent governments from defaulting through the process of pegging borrowing costs near zero. These money printers are now in the practice of propping up corporations--even those of the junk and zombie variety--by ensuring their cost of funds bears absolutely zero relationship to the credit quality of the issuer. To be clear, central banks have been falsifying public and now private bond prices to historic and monumental degrees just as the intensity of issuances and insolvency deepens.

And now, the Fed is bailing out bankrupt consumers with helicopter money in the form of enhanced and extended unemployment, grants through the Payroll Protection Plan and direct UBI to consumers through the CARES Act Recovery Rebates clause. All together there has been about $2.8 trillion worth of deficit spending so far.


But the bailouts won't end there. Nancy Pelosi is now seeking an additional $1 trillion for states and cities in the next round of government "stimulus." The Wuhan virus is now causing a Pension fund crisis. States' revenues are plunging from an income and sales tax vacuum at the same time spending is surging. This is from Moody's:

Moody's investors service estimated that state and local pension funds had lost $1 trillion in the market sell-off that began in February. The exact damage is hard to determine, though, because pension funds do not issue quarterly reports. "You're not going to see real data on the market crash until Christmas," said Girard Miller, a former chief investment officer of the Orange County, Calif., pension fund and a former member of the Governmental Accounting Standards Board.

According to the NY Times, as of 2018 state pension funds had on average invested 74 percent of their money in risky assets; including stocks, private equities, hedge funds and commodities. That was up from 69 percent in 2010, after the 2008 crash, and from 61 percent in 2001. Of course, going out on the risk curve to overweight stocks in a portfolio--which are in a bubble--simply because bonds are in an even bigger bubble, carries huge consequences.

怎样看懂彩票走势图This is what Yahoo Finance has to say on the subject of bankrupt pension funds:  Declines in the financial markets may have cost the funds as much as $1 trillion in assets, or about 25% of their total, according to Moody's Investors Service. That would bring the aggregate funding ratio—the value of assets divided by actuarial value of liabilities—from 52% based on the last report by the Census Bureau down to perhaps 37%. But it's not aggregate numbers or official reports that will trigger a crisis. It's the big {state} funds in the worst shape. Connecticut could be looking at a 28% funded percentage, Kentucky 25%, New Jersey 24% and Illinois 20%.

This is what my friend John Rubino of Dollar Collapse.com has to say about the Pension crisis:

"Letting Illinois go bankrupt would send the muni bond market into a "who’s next?” seizure, which would quickly spread to corporate bonds, equities, and real estate, cratering the U.S. and then the global economy. At least that’s the worst-case scenario economists will present to policymakers.”

“With no stomach for presiding over the end of the world during an election year, Washington will cave, agreeing to whatever governors demand. And so the grossest mismanagement in the history of U.S. state and city government will be swept under the rug – or more accurately will be swept onto taxpayer balance sheets along with that of all the other sectors that are – surprise! – too big to fail.”

怎样看懂彩票走势图Meanwhile, the resulting multi-trillion-dollar addition to the national debt will hasten the fiery end of the fiat currency/fractional reserve banking/unlimited-government-debt world. One can only hope that future historians will get the story right while the perps are still alive to answer for their sins.

怎样看懂彩票走势图The Fed is trying to once again re-inflate asset bubbles by offering free money and buying all kinds of debt. Hence, new borrowings are surging as Mr. Powell provides a toxic dump site for banks to unload their waste, just as he is providing a lifeline for consumers and businesses to take on more liabilities. Commercial bank lending in the U.S. increased by 17.0% year-over-year as of April 15th, according to the Federal Reserve. And, Household debt rose to $14.3 trillion through the first three months of 2020, which is $1.6 trillion greater than its peak at the height of the Great Recession.

In other words, government is once again bailing out an overleveraged economy by encouraging it to take on even more debt. Only this go around lending standards have totally evaporated, and there is no pretense of vetting the loans. Lenders are completely cognizant that most of the borrowers are either currently unemployed or have no revenue. Most of them can't and won't pay back the money, and the bill will end up on the taxpayers’ balance sheets. But since the tax base has been destroyed, it will all need to be monetized by the Fed. The amount of new money printing has to also cover the run rate of a 25% increase in corporate debt. Then there is the $3 trillion of new Treasury borrowings in the second quarter alone, which will accreditive at a record pace to the $25 trillion National Debt! Indeed, that Q2 borrowing will be more than 2x greater than entire deficit for all of 2009.

This is the only explanation behind the existence of one Narayana Kocherlakota. Here is what the former President of the Minneapolis Fed said while he was pontificating about negative interest rates in a recent interview on the MSFM: the presence of physical cash in society is restraining the Fed’s hands from seeking higher inflation much like a gold standard tied its hands prior to 1971. In other words, the Fed couldn’t easily expand the money supply when dollars were linked to gold; and neither can it now easily impose negative interest rates on consumers while physical money is in existence. 

怎样看懂彩票走势图Adding to this stagflation crisis will soon be the Fed’s ability to purchase stocks. This is what Former Fed Chair Janet Yellen has to say on the subject: “It would be a substantial change to give the Federal Reserve the ability to buy stocks,” Yellen told CNBC. “I frankly don’t think it’s necessary at this point…but longer term it wouldn’t be a bad thing for Congress to reconsider the powers that the Fed has with respect to assets it can own.”

For now, the primary concern is disinflation and depression. But that should morph into stagflation later this year as debt levels surge alongside massive and unprecedented global central bank monetization. As far as the stock market is concerned, in the immediate term there is a lot of hope about a V-shaped recovery with the global economy opening up the virus dissipating. However, come June and July, the risks to the economy and markets increase significantly concomitant with a failed reopening:

  • Businesses experience only 25%-50% of the revenue received prior to closing the economy and cannot rehire their furloughed workers
  • The Wuhan virus partially rebounds as consumers let down their guard and become more socially interactive
  • The 2-month requirement to keep employees under the PPP expires resulting in a second round of mass layoffs  
  • Enhanced Unemployment keeps potential re-hires safely on the sidelines and making more money doing so until the program expires in August

怎样看懂彩票走势图We will continue to monitor the 20-components of the Inflation/Deflation and Economic Cycle Model S.M. to understand if the above scenario is becoming manifest and take the necessary steps in our portfolio to protect from any such mid-summer decline.

Michael Pento produces the weekly podcast , is the President and Founder of and Author of the book

Respectfully,

Michael Pento

President

Pento Portfolio Strategies


mpento@pentoport.com

Twitter@ michaelpento1
(O) 732-203-1333
(M) 732- 213-1295

Michael Pento is the President and Founder of Pento Portfolio Strategies (PPS). PPS is a Registered Investment Advisory Firm that provides money management services and research for individual and institutional clients.

Michael is a well-established specialist in markets and economics and a regular guest on CNBC, CNN, Bloomberg, FOX Business News and other international media outlets. His market analysis can also be read in most major financial publications, including the Wall Street Journal. He also acts as a Financial Columnist for Forbes, Contributor to thestreet.com and is a blogger at the Huffington Post.               

Prior to starting PPS, Michael served as a senior economist and vice president of the managed products division of Euro Pacific Capital. There, he also led an external sales division that marketed their managed products to outside broker-dealers and registered investment advisors. 

Additionally, Michael has worked at an investment advisory firm where he helped create ETFs and UITs that were sold throughout Wall Street.  Earlier in his career he spent two years on the floor of the New York Stock Exchange.  He has carried series 7, 63, 65, 55 and Life and Health Insurance Licenses. Michael Pento graduated from Rowan University in 1991.

© 2019 Copyright Michael Pento - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Michael Pento Archive

© 2005-2019 http://ijr65qh.cn - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

手机棋牌输了几百万 怎么样进入赌单双软件 怎么购买手机赌博软件 我爱彩票邀请码是多少 手机新澳门棋牌官网 快钱彩票官网 快乐棋牌游戏 手机版彩票过滤工具 怎么下载波克棋牌 我想查查彩票开奖结果