May 12, 2020
Just Another Bricks in the Wall - John Rubino 5-11-20
China's Silk Road and Belt initiative goes bust, dollar looking pretty good by comparison. Will the Chinese exercise gunboat diplomacy?
Battle between ECB and German CB, who can’t agree on how much QE is enough. German Supreme Court has ruled that ECB has gone too far with its version of QE. Europe is only halfway through its integration process and is falling rapidly behind on its goal.
Second quarter US GDP will be down a whopping 34.9% in the US. CA Deficit $100B for the current fiscal year. Grossly underfunded pension funds. Big bailouts will be demanded by states and the Feds will resist until they can't any longer.
Swiss National Bank is now officially a hedge fund. It lost money on the decline but made back most of their losses on the recovery. Others are watching and wanting to emulate.
Germany tries to reopen and appears to be failing. Georgia reopens and appears to succeed.