Bankers
HSBC Resuscitates 35,000 Job Cut Plan As Banking Troubles Persist
Back in February, HSBC, Europe’s largest bank and troubled lender, announced a plan that would slash upwards of 35,000 jobs. Shortly after, the lender put restructuring plans on hold for three months due to the COVID-19 outbreak. Now, Bloomberg reports, HSBC is resuming plans to cut tens of thousands of jobs as a way to boost profitability in today’s challenging environment. “Since February, we have pressed…
Noted Investor Warns Trump If He Doesn’t “Shut Down” Entire Country for 30 Days
Due to coronavirus, we will lose “America as we know it”… While a number of experts have already warned that the impact of the Wuhan coronavirus (COVID-19) on the United States is expected to be tremendously negative, a respected hedge fund manager sounded an even louder alarm on Wednesday. In an interview with CNBC, Bill Ackman,…
What Happened To Gold’s Safe-Haven Bid?
The US stock market continued its freefall last Friday. The Dow lost another 357 points to finish off the worst week since 2008. One would expect a save-haven like gold to thrive in the midst of the massive stock selloff, but it had a bad day on Friday as well crashing through the $1,600 mark and plummeting…
STAGGERING GLOBAL DEBT OF $253 TRILLION IS A DISASTER WAITING TO HAPPEN
Global debt has reached a staggering $253 trillion. This is a disaster waiting to happen, as the world’s total debt surged by some $9 trillion in the first three quarters of 2019, according to data from the Institute of International Finance. That’s a terrifying 322% of its GDP; and a record high. As Axios points out, in times…
Bernanke Hints At Negative Rates, “Purchases Of Private Securities” To Fight Next Recession
…We can’t rule out the possibility that, at some point in the next few years, our economy will slow, perhaps significantly. How would the Federal Reserve respond? What tools remain in the monetary toolbox? By Ben Bernanke First steps for easing policy …Given where we are today, how would the Fed respond to a hypothetical economic…
Wall Street Analyst Jobs Vanish As Banks Take An Axe To Research With Market At Record Highs
Is the death of Wall Street equity research finally at hand? Because who needs an expensive team of analysts when clients can easily reap double-digit returns by dumping their money into passive funds? The fact that sell-side research departments have been shedding analysts this year is hardly a surprise. MiFID II regulations made it clear from…
Will Modern Monetary Theory Blow Up The Dollar?
“As long as the government can print money, we’ll never be broke.” That’s the idea behind modern monetary theory (MMT) in a nutshell. Naturally, many of the nuts in Washington are starting to get behind this unhinged notion. That includes members of Congress such as Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Democratic presidential candidate Sen. Elizabeth Warren (D-Mass.). An Economic Absurdity…
It’s D-Day For The Repo Market: On Monday $100 Billion In Liquidity Will Be Drained – What Happens Next?
Last week’s apocalyptic report by repo market guru Zoltan Pozsar, which for those who missed it predicted that an imminent market crash and loss of control of overnight rates by the Fed would spark nothing short of QE4, sparked an unprecedented panic at the Federal Reserve, which just two days later unveiled a historic liquidity injection, in which the…
Is Zoltan’s Market Doomsday Imminent? Here Are The Two Things To Watch
In the movie The Outlaw Josey Wales, one of the more famous quotes is, “Don’t piss down my back and tell me it’s raining.” We do not accept the rationale the Fed is using to justify the reintroduction of QE and the latest surge in their balance sheet. Although we do not know why the Fed has…
Dalio & Tudor Jones Warn: “We Will Kill Each Other” If Our Broken Economic System Isn’t Fixed
Two hedge fund icons – Bridgewater founder Ray Dalio and Paul Tudor Jones – joined Yahoo Finance for the 2nd annual Greenwich Investment Forum earlier this month. Speaking directly after Connecticut Gov. New Lamont, with whom Dalio is working to bolster Connecticut’s schools via a $100 million gift – the largest charitable gift the state has ever…