The Fed Backfires: Shock and Awe Rate Drop to 0%, Emergency Bond Buying Program Leads to Limit Down Drops in US Equity Futures as Real World Coronavirus Damage Worsens
The Fed just told everyone to assume the brace position.
Read more...Author Archives: Yves Smith
Links 3/14/2020
‘Grotesque Level of Greed’: Owned by World’s Richest Man Jeff Bezos, Whole Foods Wants Workers to Pay for Colleagues’ Sick Leave During Coronavirus Pandemic
Jeff Bezos continues to abuse his workers, this time (or more accurately, again) at Whole Foods.
Read more...Coronavirus Testing Shortages Force Extreme Shift In Strategy By Local Health Officials
Yves here. The admission that the US, even if it had coronavirus test results, lacked the institutional capacity to do contact tracing, is a stunner. Gee, we supposedly live in a world of AI and big data, but our Silicon Valley gearheads can’t come close to what China has done? But we can find the […]
Read more...How the COVID-19 Shock Is Different
Looking at COIVD-19 impacts.
Read more...Links 3/13/2020
COVID-19 Math Explained, With Data
Looking at COVID-19 R0s.
Read more...CalPERS Legacy Assets: How Much in Overvaluation Has CalPERS Been Hiding?
CalPERS apparently needs to take a bath on its legacy assets.
Read more...Why You Should Stop Using or Cancel Your Citi Mastercard: Systematic Violation of Cardmember Chargeback Rights, Insistence on Using Fraud-Friendly Voiceprints
Citi is doing a number on its own and the Mastercard brand name with cringe-makingly inept and dishonest credit card operations.
Read more...When Safety Measures Lead to Riskier Behavior by More People
How safety measures can backfire.
Read more...After Bloody Day, Coronavirus Meltdown Continues. Big Danger: Italian and Eurobanks Are Set To Blow
So many coronavirus panics that a looming risk is getting little notice: implosion of Italy’s banks, a potential Credit Anstalt event.
Read more...Boeing Crashes: $43 Billion in Share Buybacks Turn into Existential Threat
Yves here. When we made grim prognostications about Boeing’s future, we were treated as nuts. By Wolf Richter, editor at Wolf Street. Originally published at Wolf Street Boeing’s shares [BA] came unglued, plunging 18.1% today, after having already plunged over the past four weeks. Since February 12, shares have crashed 46%, and since the peak […]
Read more...Harvard’s “Let Them Eat Veritas”: Richest University’s Poor Students Shafted as School Provides Spotty, Inadequate Help as It Throws Them Out of Dorms and Jobs
Harvard’s appalling response to coronavirus has thrown many low income student under the bus.
Read more...Who’s Responsible? How the “Independent Contractor” Dodge Guts Employment Protections
On establishing legal responsibility for employment in the fissured workplace.
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