Business

For those who may have missed it, GM's former Vice Chairman Bob Lutz dropped a whole lot of reality on some unsuspecting Tesla cheerleaders on CNBC this morning.  A rather blunt Lutz shared his views, as have we on several occasions, that Tesla's constant cash burn combined with a barrage of competitive models that are about to hit the market likely indicate that the company is "doomed."  As for Tesla's gravity-defying stock price, Lutz attributed the company's soaring market cap solely to Musk being the "greatest salesman in the world" along with his being

On the heels of chaos in the FX markets created by a non-currency-manipulating President Trump's comments that the dollar is too strong, Chinese authorities have folded - after 13 days - and resumed liquidity injections through open market operations (70 billion Yuan).

In addition, PBOC strengthened the Yuan Fix by 0.45% - the biggest mover since mid-January.

And offshore Yuan is surging...

One wonders if the sudden liquidty injection is a response to the currency moves or the commodity carnage?

Authored by C. Jay Engel via The Mises Institute,

After eight years of extremely loose monetary policy, the economy is great again and we are to enter into a post-stimulative era of monetary policy. So said Yellen at a recent discussion at the University of Michigan. In her words, the Fed had given the economy all the "oomph [they] possibly could" and it was time to "allow" the economy to coast along.

Bondholders confirmed that Venezuela's state-owned oil company PDVSA made principal and interest payments of $2.2 billion today, avoiding default yet again despite what Vice President Tareck El Aissami called a "ruthless economic war" being waged against the Maduro government.

That's the good news, the bad news is that PDVSA has $62 billion more in principal and interest due over the next few years...

Authored by Ben Masters via RealInvestmentAdvice.com,