Ohio unemployment rose 600%

Ohio unemployment rose 600%

The Mother of All Depressions

Let nobody tell you the current financial meltdown is about 'the Corona virus'.

The Collapse began September 27th last year, when the repo market's interest-rate spiked to 10%. Banks have to balance their books every night, and they borrow from each other to do this. This interest-rate spike meant they stopped lending to each other. Like they did in 2008, when the Libor rates went to similar territory. They haven't lent to each other since. The Fed has been bailing them out every night. The virus is cover for another bank bailout. Click the headline for the full article.