Tom Iceland's Blog - Posts Tagged "powell"
Economic Update April 2020
The global central banks controlled by the socialist alliance have intensified the financial markets’ collapse: The volatile economic trends started in March 2020 when the unsustainable market peaks succumbed to the distress from the coronavirus pandemic and OPEC-Russia oil price war in the first quarter. As the financial markets collapsed the Federal Reserve (Fed) was impotent to do much about it, yet took panicked actions ( i.e. ZIRP, $700 billion QE) that at first intensified the sell-off for most of March, then turned into a mini-rally in April when the Fed announced that, in addition to overnight money markets, it will bail out the major debt markets (i.e. high-yield “junk”, municipal and investment grade bonds).
The erroneous actions taken by the Fed, in concert with other major global central banks, are only compounding the unsustainability of the financial markets that will correct sharply when the first quarter earnings season brings its expected dismal outlook for the remainder of 2020.
The erroneous actions taken by the Fed, in concert with other major global central banks, are only compounding the unsustainability of the financial markets that will correct sharply when the first quarter earnings season brings its expected dismal outlook for the remainder of 2020.
Economic Calm Before the 2020 Election Storm
For six weeks there has been a calm before the storm in the economy. As the United States’ reported second quarter (2Q2020) GDP contracted over 30%, the financial markets have melted up with big technology companies (i.e. Amazon, Facebook) earning’s report showing stellar growth though the banking sector has forecast a rash of defaults for the foreseeable future.
The Global Central Bankers Club (GCBC) had their bi-monthly Bank of International Settlements (BIS) meeting on July 29 as the financial markets’ upward momentum continued. The central bankers’ annual Jackson Hole symposium hosted by the Federal Reserve Bank of Kansas City will only be virtual this year due to the coronavirus pandemic. It was at this Jackson Hole meeting preceding the 2008 presidential election when the consensus strengthened that there was a financial crisis beyond central bankers’ control, leading up to the 2008 financial crisis. To briefly recap what happened, Lehman Brothers declared bankruptcy on September 15, 2008 and then Fed Chairman Bernanke incompetently warned that America and the world were on the verge of a second Great Depression, causing the financial markets’ free-fall collapse into 2009 when they finally troughed on March 9th.
To put this in further perspective, an excerpt from page 215 (paragraph two) of the conclusion to Communism Returns is provided: “…if the socialist elite of the Global Central Bankers Club (GCBC) could engineer a financial panic even half the magnitude of the 2008 market crash, then it would be a matter of months until the unemployment, poverty and dependence leads to a despairing surrender of the Western middle class to the socialists’ fear campaigns.”
Let’s hope that the current Fed Chairman, Jerome Powell, is more prudent than his predecessors this year, because the global socialists would gleefully cheer another financial crisis like 2008’s this presidential election year, no matter the disastrous consequences.
The 2020 election season will be kicking into full gear this month of August starting with the Democratic and Republican presidential conventions that will be mostly virtual due, once again, to the coronavirus hype. The democrats’ contender, Joe Biden, will face President Donald Trump. Looking ahead to after Labor Day (September 7th), if there is any uncertainty surrounding Trump’s prospect for a second term or there is a prolonged dispute over the November 3rd results, expect volatility to hit the financial markets with a vengeance. Be forewarned that global socialists’ radical Antifa thugs terrorizing America’s cities this summer fully intend to undermine the presidential election no matter the victor, so please be vigilant and protect yourselves this coming fall.
The Global Central Bankers Club (GCBC) had their bi-monthly Bank of International Settlements (BIS) meeting on July 29 as the financial markets’ upward momentum continued. The central bankers’ annual Jackson Hole symposium hosted by the Federal Reserve Bank of Kansas City will only be virtual this year due to the coronavirus pandemic. It was at this Jackson Hole meeting preceding the 2008 presidential election when the consensus strengthened that there was a financial crisis beyond central bankers’ control, leading up to the 2008 financial crisis. To briefly recap what happened, Lehman Brothers declared bankruptcy on September 15, 2008 and then Fed Chairman Bernanke incompetently warned that America and the world were on the verge of a second Great Depression, causing the financial markets’ free-fall collapse into 2009 when they finally troughed on March 9th.
To put this in further perspective, an excerpt from page 215 (paragraph two) of the conclusion to Communism Returns is provided: “…if the socialist elite of the Global Central Bankers Club (GCBC) could engineer a financial panic even half the magnitude of the 2008 market crash, then it would be a matter of months until the unemployment, poverty and dependence leads to a despairing surrender of the Western middle class to the socialists’ fear campaigns.”
Let’s hope that the current Fed Chairman, Jerome Powell, is more prudent than his predecessors this year, because the global socialists would gleefully cheer another financial crisis like 2008’s this presidential election year, no matter the disastrous consequences.
The 2020 election season will be kicking into full gear this month of August starting with the Democratic and Republican presidential conventions that will be mostly virtual due, once again, to the coronavirus hype. The democrats’ contender, Joe Biden, will face President Donald Trump. Looking ahead to after Labor Day (September 7th), if there is any uncertainty surrounding Trump’s prospect for a second term or there is a prolonged dispute over the November 3rd results, expect volatility to hit the financial markets with a vengeance. Be forewarned that global socialists’ radical Antifa thugs terrorizing America’s cities this summer fully intend to undermine the presidential election no matter the victor, so please be vigilant and protect yourselves this coming fall.
