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U.S. Banking System Has a $168 Trillion Nightmare Looming. It Was Ignored in Written Testimony for Today’s Senate Banking Hearing

U.S. Banking System Has a $168 Trillion Nightmare Looming. It Was Ignored in Written Testimony for Today’s Senate Banking Hearing

By Pam Martens: August 3, 2021 ~ Risky derivative bets made by the mega banks on Wall Street, offloaded onto inadequately capitalized counterparties, were at the core of the collapse of the U.S. financial system…

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Black Knight’s June 2021 Mortgage Monitor

As of July 20, of the 7.3 million homeowners who have been in COVID-19-related forbearance at some point since the onset of the pandemic, approximately 1.86 million remain in active plans Recently, FHFA, FHA, VA and USDA have provided clarifying …

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New Home Sales Crash In June To Lowest Since April 2020

New Home Sales Crash In June To Lowest Since April 2020

After existing-home sales printed a very modest rebound from lowered numbers, analysts expect new home sales to rebound from 12-month lows in June (even as homebuilder confidence sinks to an 11-month low), but boy oh boy were they wrong.

Against expectations of a 3.7% MoM jump,…

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JPMorgan: Powell Is At Risk Of Losing His Job

JPMorgan: Powell Is At Risk Of Losing His Job

With Fed Chair Powell’s term expiring in February, debate is starting to swirl about his fate: will Biden keep him, grateful for monetizing all the trillions in stimmies the president has unleashed to purchase votes kickstart hyperinflation, or will more progressive elements in the Democratic party hold…

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Schiff: US Government Spending Sure Isn’t Transitory

Schiff: US Government Spending Sure Isn’t Transitory

Via SchiffGold.com,

The mainstream narrative is that the Fed will soon admit that inflation isn’t transitory. At that point, it will raise interest rates and taper its bond-buying program to fight rising prices. But this narrative ignores the elephant in the room – the ever-increasing national debt.

<a data-image-external-href="" href="https://cms.zerohedge.com/s3/files/inline-images/capitol-176159_1280-1024x577_1.jpg?itok=-3E5WUne"…

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The Federal Reserve Has Radically Changed from a Central Bank to a Bailout Kingpin. Americans Just Haven’t Paid Attention – Until Tonight

The Federal Reserve Has Radically Changed from a Central Bank to a Bailout Kingpin. Americans Just Haven’t Paid Attention – Until Tonight

By Pam Martens and Russ Martens: July 13, 2021 ~ This evening, the PBS program, Frontline, will do something that corporate broadcast media has failed to do since the financial crash of 2008….

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BONDS

JunkieStreet
Economics


Our own articles focused around the Federal Reserve, Congress, Financial Markets, and Wealth Inequality. Also a mix of the best or most important material we come across.

Macro OD



A lethal dose of Macro related content.





FED:
Financialization of the Economy by Design

1. Federal unReserved Facts
2. Charting Wealth Inequality
3. Financialization Research

A review of the Fed’s structure, processes(supervision of banks), and their transparency or lack thereof – Audits/Reports from the GAO, Levy Institute, OIG & more.
Since 1971, the structure of our U.S. Economy has been built on a foundation laid by Wall Street. The problem is so palpable that it is hard to believe Fed members(and a few in Congress) aren’t intentionally deceiving people. Wages, savings, debt, trade deficits, stock buybacks, and much more tell the same story that begins shortly after leaving the gold standard.