More than 100 companies are competing to be first in the race to get a COVID-19 vaccine to market. It’s a race against time, not because the death rate is climbing but because it is falling – to the point where there could soon be too few subjects to prove the effectiveness of the drug. […]
By Ramin Mazaheri for the Saker Blog High-finance-dissident site ZeroHedge retweeted this: “Everything that is wrong with America, in one image.” Indeed, but it’s old news: not adding strings to
In what is being called the worst financial crisis since 1929, the US stock market has lost a third of its value in the space of a month, wiping out all of its gains of the last three years. When the Federal Reserve tried to ride to the rescue, it only succeeded in making matters worse. […]
With financial markets in a state of near panic over an incoming COVID-19 pandemic, the Federal Reserve Bank of New York took the extraordinary step of injecting over $1.5 trillion into the stock market yesterday in a bid to calm investors’ fears about a collapse.
When the World Health Organization announced on February 24th that it was time to prepare for a global pandemic, the stock market plummeted. Over the following week, the Dow Jones Industrial Average dropped by more than 3,500 points or over 10%. In an attempt to contain the damage, on March 3rd the Federal Reserve slashed […]
As coronavirus panic hits the U.S., a financial lobbying group is attempting to use the crisis to push through the deregulation of its industry.
Nomi Prins tracks the acute worsening of inequality since the 2008 financial crisis. By Nomi Prins TomDispatch.com Like a gilded coating that makes the dullest things glitter, today’s thin veneer of political populism covers a grotesque underbelly of growing inequality…Read more →
Long time listener and friend Nick aka @ArtisanLoaf joins me this week. We discussed Elon Musk, his various companies, and his strange and often bad business practices. We started off by talking briefly about Musk’s privileged upbringing in South Africa. We talked about Musk’s first big start with PayPal and his business relationship with Peter Thiel. We then moved onto Tesla and the way the company has been run. We discussed the poor business model that the company has employed under the leadership of Musk.
NEW YORK — The revelation that the Dow Jones industrial average and the Standard and Poor’s stock index closed at historic highs this past Thursday afternoon reminded me of an early autumn afternoon a dozen years ago in a glorious San Francisco apartment high in the sky.
Maybe it makes me unsophisticated, but I don’t think about the stock market that much. I know that many say it’s the central nervous system of our economy. I know its estimated worth is around $30 trillion. And I know that when it tanks, the lives of millions of Americans are wrecked, ruined and upended. I know that when that happens, the powerful millionaires (and billionaires) who caused said destruction generally grab their money and their well-coiffed dogs and run for it.
