Dismal's Smacks

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From 1st quarter 2022 to 1st quarter 2023, total household debt has increased $1,205 billion to $17.05 trillion (+7.57%)

Mortgage balances ($864 billion), HELOC ($22 billion), Student loans ($14 billion), Auto loans ($93 billion), Credit Card debt ($145 billion), Other ($67 billion). Reddit Post

3 times now in the last 5 days hedge funds have been called out for receiving the vast majority of their repo financing in the non-centrally cleared market, where haircuts or initial margin requirements are not necessarily applied

3 times now in the last 5 days hedge funds have been called out for receiving the vast majority of their repo financing in the non-centrally cleared market, where haircuts or initial margin requirements are not necessarily applied and that this might create greater risk in times of stress. Why?

SEC Chair Gary Gensler: "Finance, time and again, also has seen regulatory gaps lead to fires. Such gaps can occur when financial regulations don’t treat like activities alike. Market participants may then arbitrage such differences here in the United.."

"Finance, time and again, also has seen regulatory gaps lead to fires. Such gaps can occur when financial regulations don’t treat like activities alike. Market participants may then arbitrage such differences here in the United States and between countries." “Lessons from Mrs. O’Leary’s Cow:” Remarks

Total household debt rose by $148 billion, or 0.9 percent, to $17.05 trillion in the first quarter of 2023. Mortgage balances climbed by $121 billion and stood at $12.04 trillion at the end of March.

Auto loan and student loan balances also increased to $1.56 trillion and $1.60 trillion. HOUSEHOLD DEBT AND CREDIT REPORT (Q1 2023) https://www.newyorkfed.org/microeconomics/hhdc.html Total household debt rose by $148 billion, or 0.9 percent, to $17.05 trillion in the first quarter of

CFTC Commissioner Pham Announces Proposed Work Program for CFTC Global Markets Advisory Committee and Seeks PUBLIC Input by May 30.

Topics include: derivatives market reform, recommendations on regulation of NFTs, recommendations to improve trade reporting for swaps market oversight. Source: https://www.cftc.gov/PressRoom/PressReleases/8703-23 Commissioner Caroline D. Pham announced today the 2023-2025 proposed work program for the Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC)

Inflation Alert! The purchasing power of the dollar continues to VANISH! In April, the purchasing power of $100 in January 2000 is $55.70 (down $.20 from March).

Remember, CPI tracks the loss of the purchasing power of your dollars, and thereby the purchasing power of your hard earned labor. Source: https://fred.stlouisfed.org/series/CUUR0000SA0R Let's zoom in on this since 2020: YOWSERS!!! CPI tracks the loss of the purchasing power of your dollars,

Inflation Alert! Fed Governor Philip N. Jefferson: "if you are willing to widen your lens to include a more commonplace definition, then it is possible to conclude that current monetary policy is, in fact, "on track.""

"The bad news is that there has been little progress on core inflation." https://www.federalreserve.gov/newsevents/speech/jefferson20230512a.htm On the Assessment of Current Monetary Policy Governor Philip N. Jefferson At the "How to Get Back on Track: A Policy Conference," Hoover Institution, Stanford,