In 2014, shale drillers were pushed to the brink of oblivion by low oil prices, and today with prices nearing similar levels it seems the sector has not learned its lesson. It feels like 2014 for the oil industry all over again, except this time, things could get even worse. Most US shale wells have a breakeven well above today’s current oil prices. The result will be that the shale industry in [...]
An emergency response from the US Federal Reserve failed to calm investors amid the coronavirus panic and led to another market bloodbath. However, it didn’t have any other options, a former Fed insider believes. If the Fed had been silent then we might have even seen more disruption,” Danielle DiMartino Booth said in an interview with RT’s Boom Bust. “Sadly, they’ve backed themselves in [...]
US Treasury Secretary Steve Mnuchin has promised immediate financial relief “within the next two weeks” to Americans hit hard by the coronavirus recession - plus a massive financial aid package for the airline industry. The Trump administration will be sending a check to Americans within the next two weeks for an undetermined amount, Mnuchin announced at a press conference on Tuesday. [...]
The global markets’ current implosion was 100 percent guaranteed, former Wall Street stockbroker Max Keiser told RT. According to him, the financial markets are best described as a “quadrillion-dollar Ponzi scheme.” “Central banks’ policy of allowing governments and corporations to borrow, at virtually no cost, against decades of future consumption to consume now, hollowed out the global [...]
After suffering the worst stock market crash since 1987, the US Federal Reserve has announced a $1.5 trillion injection to ease strained capital markets. It is the biggest action by the Fed since the 2008 financial crisis. RT’s Boom Bust is joined by the CEO of Euro Pacific Capital Peter Schiff to find out if the Fed’s actions are enough to stop the stock market bloodbath. [...]
US stocks fell sharply on Monday as the Dow Jones Industrial Average index tumbled nearly 3,000 points despite the Federal Reserve’s latest attempt to ward off concerns of a possible COVID-19-induced economic downturn. The Dow slid by 2,997.10 points, while the S&P 500 dropped by 324.89 points, declines which placed the indices more than 20% below record highs set in February. The Nasdaq Com [...]
Last week, the IMF issued a stark warning about the global economy. While most large Western states are vulnerable to a new crisis, Russia has prepared its defenses. Kristalina Georgieva isn’t any sort of conspiracy theorist; she’s the head of the International Monetary Fund. And when she warns that the global economy risks another “Great Depression,” you would think everyone would listen. [...]
The international financial watchdog earlier estimated the recent trade rows had already cost the world economy about $700 billion or an 0.8 percent slump in global GDP, outlining the data in a soon-to-be-published annual report by the IMF. [...]
Central banks around the world will continue printing money as long as it’s necessary, says legendary investor Jim Rogers, calling it “madness.” He talks to RT’s Boom Bust about the state of the global economy and what could be over the horizon. Never before in world history have interest rates been so low, Rogers says. The US’ central bank, the Fed, increased its balance sheet by over 5 [...]
Argentine President Alberto Fernandez said last month that he may not seek an $11 billion loan from the IMF, promising instead to “try to revive the economy.” RT’s Keiser Report talks to Nick Giambruno of CaseyResearch.com about the relative calm in Buenos Aires among the populace, despite the ongoing currency and debt crises. [...]
The national carrier of Pakistan may purchase Sukhoi Superjet 100 (SSJ-100) planes, according to Russian Industry and Trade Minister Denis Manturov, who is currently in Islamabad on an official visit.
“We interact directly with Pakistan Air. We have agreed that in January we will continue working on it, taking into account the fact that we must work out the destination network together with o [...]
Russia’s Roscongress Foundation and the Qatar Investment Promotion Agency have inked a document during the Doha Forum that sets up a joint working group for coordination of investment activities and business projects. The agreement was signed on Sunday, when a Russian delegation held a panel session titled ‘Developing the High-Tech Sector in Russia: Prospects for Venture Investment’ on the s [...]
The growing rivalry between the world’s two largest economies, the US and China, is at risk of becoming a ‘financial war,’ a former Chinese finance minister says. RT’s Keiser Report discusses the possibility of a trade war turning into financial one, with Stacy Herbert saying that America is an empire of debt, ran by derivatives. Max Keiser agrees, saying that: “The only way to keep this [...]
US House Democrats have repeatedly accused Donald Trump of trying to obstruct their impeachment probe by ordering officials not to cooperate. Trump, in turn, slammed the investigation as a biased "witch hunt" and as an illegal blow against him ahead of the election. Democrats running the impeachment probe into US President Donald Trump have revealed two articles of impeachment accusing him of abus [...]
The Russian stock market has delivered the biggest returns to investors around the world this year. Global rate cuts and increased dividend payouts have been driving investor interest in Russia.
The MSCI Russia Index which tracks the 23 largest Russian publicly-listed companies has surged 44 percent since the start of the year, according to Sberbank analyst Cole Akeson. [...]
President Trump has applauded the latest jobs report and its positive effect on stock markets as critics unleashed on him for his failed promise to tame the US government spending spree that pushed the national debt over $23tn. [...]
What Is The Federal Reserve?
The Federal Reserve, or Fed, is a privately owned central bank that controls the money supply of the United States. All the dollars we have in existence today were created by the Federal Reserve. In fact, if you look at any piece of currency you will see that it says Federal Reserve Note on it:
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The US dollar’s status as the world’s major reserve currency, which it held for decades, could come under threat, according to Anne Korin from the Institute for the Analysis of Global Security.
“Major movers” such as Russia, China, and the European Union have a strong “motivation to de-dollarize,” Korin, the co-director at the energy and security think tank, told CNBC. [...]
A new survey from consultancy McKinsey & Co has found that a majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs.
The study looked at 1,000 banks in developed and emerging countries and found that just over a third had made a return on capital of just 1.6 percent over the past three years. This compares to returns of j [...]