Submitted by Taps Coogan on the 12th of May 2020 to The Sounding Line.
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Bleakley Advisory Group CIO, Peter Boockvar, recently spoke with Wall Street for Main Street in a wide-ranging interview about his concerns that the US economy will struggle to recover from the Coronavirus crisis and that a wave of bankruptcies is looming. He also warns that while the Fed can provide liquidity through monetary accommodation, we are facing a solvency crisis not a liquidity crisis as businesses struggle to repay mounting debts, consumers rebuild their savings, and businesses struggle to recover.
Enjoy the full interview above.
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First and foremost, we have a moral crisis. We have turned into the greediest bastards this world has ever seen. God help us.
Agree with Realtiy. As George Carlin once said, “We ain’t worth saving.” He also said, “It’s a big club and you ain’t in it.” Capitalism is dead. The Fed has seen to it. Everything is now TBTF.