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Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By: NYTDec 23, 2021 - 05:59:55 PST
He and his wife are already heavily in debt and with inflation spiraling higher over the past two months, they cannot make ends meet even after those sacrifices. So Bilal had to turn to his mother for financial help this month, cashing in two gold coins she had set aside for her grandchildren.
With seasonal adjustments having major effects on the headline data, the reported number of Americans filing for jobless benefits for the first time was 205k (exactly as expected and exactly the same the prior week's revised number)...
Fed's Favorite Inflation Indicator Spikes To Almost 40-Year-Highs, Real Spending FlatDec 23, 2021 - 05:57:23 PST
The growth is Americans' personal spending was expected to decelerate in November, as income growth also slowed. Analysts narrated October's surprise spending gain as being driven by pull-forward on supply-chain availability fears. Analysts nailed it for once with both income and spending coming in as expected (+0.4% MoM and +0.6% MoM respectively)
US financial conditions are nearing their most accommodative ever, even as the Federal Reserve begins ramping up its exit from stimulus measures in the era of the coronavirus crisis in an effort to combat high inflation.
French President Emmanuel Macron and Italian Prime Minister Mario Draghi called on the EU on Thursday to reform its fiscal rules in order to allow greater investment spending while acknowledging the necessity to reduce debts.
The Chinese yuan is having a greater impact on its emerging-market counterparts than ever before and may play a crucial role in determining their performance in the coming year.
The world has changed, Treasury Secretary Janet Yellen told Congress early this year. She wasn’t talking about Covid, though. She was arguing that an era of persistently low interest rates meant that the United States could afford to carry more debt — and to spend as needed to address the pandemic and make long-term investments to grow the economy. “In a very low interest-rate...
Like Diogenes with his lantern, I am, again in 2022, a cynic looking for truth - as I engage in my annual assault on the consensus and 'Group Stink.'
Former Treasury Secretary Lawrence Summers Sees Risk of Recession Soon, ‘Secular Stagnation’ LaterDec 23, 2021 - 05:20:41 PST
Former Treasury Secretary Lawrence Summers warned of a testing period for the U.S. economy in coming years, with the risk of recession followed by stagnation. In an interview with the Bloomberg Economics “Stephanomics” podcast, Summers said that the Federal Reserve had been late to spot the dangers of inflation and that delayed action to cool prices could potentially tip the economy into a slump.
The Market's Message: "The Fed Will Go Too Far [To Slow Inflation] & Break Something"Dec 23, 2021 - 05:16:09 PST
"We are in a strange time in the bond market," warns veteran market strategist Jim Bianco, as he prepared to unleash a tweet-thread-torrent of education for many market-watchers who just don't seem to get the message the market is screaming (or perhaps would rather not).
US RACING TOWARDS ENERGY CLIFF: Stunning Number Of Coal Power Plants Shutdown In 2022December 23, 2021
The United States is heading towards its own Energy Cliff as it ramps up even more GREEN ENERGY. Unfortunately, Americans will experience the same Energy Crisis that is currently taking place in Europe as we are making the same mistakes...
Dec 22, 2021 - 13:02:21 PST
With just three days until Christmas, we are seeing gold (gold line) rise, the US Dollar (green line) fall and the major Crytos Bitcoin and Ethereum remain quiet.
Dec 22, 2021 - 12:54:34 PST
The ring was found among a trove of third-century Roman coins, as well as a bronze eagle figurine, bells to ward off evil spirits, pottery, and a Roman pantomimus figurine in a comic mask, the Israel Antiquities Authority said in a statement.
Dec 22, 2021 - 12:52:41 PST
Wrapped in textiles and caked in dirt from where it was found southwest Scotland, the object didn’t look like much at first. Years of careful cleaning, however, have finally revealed a stunning rock crystal jar wrapped in gold, reports Dayla Alberge of the Guardian. In addition, researchers have discovered a Latin inscription on it that refers to a previously unknown bishop.
Let’s start today’s discussion by taking a look at the history of inflation in the US. The most commonly watched indicator of US inflation is the Consumer Price Index which is prepared and published by the US Bureau of Labor Statistics (Labor Department).
Here are all eight world indexes in 2021 and the associated table sorted by YTD.
Here is what the Dow Industrials was doing in 1929, leading up to its peak.
According to Morning Consult, economic matters — including inflation — are the top concern for the public. The economy is the main concern...
Inflation has skyrocketed and aggressive monetary policy is the key factor in understanding it. I already explained it in my article “The Myth of Cost-Push Inflation.” The Federal Reserve has finally recognized this and has made a U-turn in its policy of maintaining stimulus despite inflationary pressures.
Dec 22, 2021 - 11:38:50 PST
Stew Leonard's CEO Stew Leonard Jr. notes supermarket chains have been 'trying to hold back as much as we can' by not passing along higher input costs to customers.