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Thursday, August 18, 2022

Household Net Worth Hits Record $137 Trillion, Up $25.6 Trillion Since COVID

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 wiped…

The $3 Trillion Hidden Exposure Behind The Archegos Blowup

Authored by Nick Dunbar of Risky FinanceWhen the family office Archegos Capital abruptly imploded in late March, prompting $50 billion in block trades and $10 billion in losses at Credit Suisse, Nomura, UBS and Morgan Stanley, many bank analysts were taken by surprise. Last week, many of these analysts sounded frustrated listening to Credit Suisse’s…

Feds Admit $2.3 Trillion In Improper Payments

Submitted by Adam Andrzejewski, Since 2004, twenty large federal agencies have admitted to disbursing an astonishing $2.25 trillion in improper payments. Last year, these improper payments totaled $175 billion – that’s about $15 billion per month, $500 million per day, and $1 million a minute. But what exactly is an improper payment? Federal law defines…

The $88 Trillion World Economy In One Chart

The global economy can seem like an abstract concept, yet, as Visual Capitalist's Iman Ghosh notes, it influences our everyday lives in both obvious and subtle ways. Nowhere is this clearer than in the current economic state amid the throes of the pandemic. This voronoi-style visualization from HowMuch relies on gross domestic product (GDP) data from the World…

BofA Puts Cost Of Re-Shoring At $1 Trillion

Submitted by Market Crumbs, Manufacturing has been moving to China from the U.S. and Europe for decades. As a result of the coronavirus pandemic, many companies are now looking for ways to bring manufacturing back home... Research from Bank of America estimates that it could cost U.S. and European companies $1 trillion over five years…

A Look Inside The $52 Trillion Bubble That Has “Hijacked China’s Economy”

More than three years ago, we explained why "the fate of the world economy is in the hands of China's housing bubble." As we said at the time, "China has always been a serial bubble inflator courtesy of a closed (capital account) economy, and nearly $30 trillion in bank deposits [$40 trillion as of July…

$6.66 Trillion

Well at least our satanic overlords have a sense of humor. According to the latest Fed balance sheet, as of April 29, the Fed's balance sheet increased by 82.8 billion dollars over the past week, rising to a record  6,655,929,000,000 which, of course rounds up to $6.66 trillion (also, who can possibly forget that 666…

UN Calls For Trillion Dollar Debt Jubilee For Poorest Countries 

For weeks, the United Nations, International Monetary Fund, and World Bank have stated the only solution for emerging market economies severely damaged by the coronavirus outbreak is a "debt jubilee." The United Nations Conference on Trade and Development (UNCTAD) published a note on Thursday morning that said about $1 trillion in debt owed by developing countries should be canceled…

This Curve Will Never Flatten Again: Fed Balance Sheet Hits $6.1 Trillion, Up $2...

Here is an example of a curve that everyone wants to flatten. And here is an example of a curve that while some  - namely the bears - also wants to see collapse, it will never do so  as that would mean the end of western civilization - which is now entirely contingent on the…

“If Getting Us Into $6 Trillion More Debt Doesn’t Matter, Then Why Not $350...

Shortly after 4pm, president Trump signed into law the $2 trillion fiscal stimulus also known as the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which gives the Fed the ammunition to issue up to $4.5 trillion in additional debt, a "Multitrillion Dollar Helicopter Credit Drop" as Bloomberg called it, and officially launches not…
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