Treasury snubs the Fed

Degenerate Business School

English - November 20, 2020 22:00 - 25 minutes - 17.6 MB - ★★★★★ - 16 ratings
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Previous Episode: Old Man Stocks Win and DoorDash Made Money

Next Episode: Ranking 2020 in the History of Recessions

Stevie Mnuchin drops the hammer on Jerry Powell. The Treasury has vowed to let its emergency lending measures expire at year's end, most of which allowed the Fed to prop up Corporate debt and lend to medium-sized businesses. The Fed reacts angrily. And so with COVID cases mounting to fresh heights, the DOW's moment in the sun ends. Sorry Old Man stocks.

So risk-off falls in favor of Tech once more. What do we think is afoot in Stevie's calculations?

Apple lowers tribute in half for "small" developers, dropping commissions to 15% of revenue for developers trafficking less than $1M in revenue. Fortnite calls BS. What is Tim Apple really after?

And Scooter darling Lime says it will actually make money. Not cool. What do we make of the scootering business?