"...the CARES Act ... requires all financial institutions to allow borrowers with government-backed mortgages to defer payments for an extended period of time. ... industry insiders are warning that we are literally on the verge of a “collapse” of the mortgage market."
"Typically, the VIX rallies when stocks breakdown… which is why it’s odd that the VIX FELL on Friday despite stocks dropping."
"Not so long ago, I had to get a taxi from the centre of Guangzhou, a large city in southern China, to its local airport. The cost in Chinese money was £10. When I got back to Heathrow, I had to get a taxi to central London – about the same distance as the taxi ride in Guangzhou. The cost was £70."
"Bear markets have a way of “suckering” investors back into the market to inflict the most pain possible."
"Similar questionable “fundamentals” that those dot-com companies used to inflate their share prices have us potentially headed right into an even worse recession than originally thought."
"Case in point, every institution's favorite stock of the past decade: Apple. Interestingly, Apple's operating earnings have been flat for years--never mind what the global lockdown will do to aspirational longings for $1,000 smartphones."
"The return to “infinite” QE could potentially inflate the dollar, burst asset bubbles, and threaten the long-term safety of the economy."
"Doing “what works” in the short term often times conflicts with doing what is best for the most people over the long term."
"The Fed managed to stop this massacre by announcing it would backstop everything."
"Bear markets END when things simply can’t “get any worse.”"
"Hyperinflation also remains a possibility. Rapidly rising inflation and a falling dollar may trigger the Fed to raise rates, just like they did in the 1980s."
"With oil at or below $30 per barrel there is now a much bigger hole in Russia’s budget as tariffs from domestic oil and gas producers will likely drop to near zero."
"Welcome to United States of Japan."
"...the Fed officially crossed the Rubicon over the weekend."
"Fade rallies, and reduce risk accordingly."