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Inflation Will Cost the Average Household an Astounding Amount in 2021, Ivy League Analysis FindsDec 16, 2021 - 12:51:10 PST
The Wharton School of Business found that “inflation in 2021 will require the average U.S. household to spend around $3,500 more.” You don’t need to be an Ivy League economist to see why that’s such an outrage.
The Port of Los Angeles is struggling to accommodate the demand of American consumers as record imports flow into the country while a 100-ship queue remains at sea waiting to berth.
A day of reckoning is coming for zombie borrowers as the lower-for-longer rate environment that fed them on cheap credit is ending.
TVs give us an easy example to counter the propaganda that falling prices are “actually” bad for us.
Paul Krugman is at it again, this time with a series of a series of tweets that repeatedly miss the reality of price inflation and its causes. Let’s take a closer look:
For the wealthy and affluent, inflation brings the threat of higher interest rates, which increases the cost of borrowing and can put pressure on asset values.
Biden Signs Debt Ceiling Increase to to $31 Trillion, Preventing First-Ever U.S. DefaultDec 16, 2021 - 09:03:52 PST
The debt ceiling increase signed by President Biden is expected to allow the country to pay its bills into 2023.
Sen. Lindsey Graham (R-S.C.) on Wednesday said he thinks Biden’s social spending & climate bill, the Build Back Better Act, is “dead forever” as Senate Democrats struggle to get their caucus unified behind the legislation. Graham pointed specifically to the wariness of Sen. Joe Manchin (D-W.Va.), who has signaled concerns about the roughly $2 trillion cost of the bill & its potential effects on inflation.
Democrats’ $2 Trillion Package Stalls as Minchin Talks Make Little Headway: WSJDec 16, 2021 - 08:36:15 PST
Democrats braced for weeks of delay and uncertainty on their roughly $2 trillion education, healthcare and climate package they had hoped to finish by year end, as efforts faltered to secure the pivotal support of Sen. Joe Manchin (D., W.Va.) for the bill.
Are we smart enough to keep our oh-so-easily conjured riches? If we continue to believe that doing more of what's failed spectacularly will deliver permanently expanding riches, then the answer is no.
So Davos’ Last Stand hit theatres a couple of weeks ago. Starring OmicronVID-9/11 as the latest unseen killer this was supposed to be the horror movie of a generation. Geopolitically, this is the worst opening for a movie since Ishtar.
Lebanon's central bank said on Thursday it would sell U.S. dollars to commercial banks at the rate on its Sayrafa foreign exchange platform, but analysts said offering more hard currency would do little to steady the already crippled Lebanese pound. Lebanon's economy has been in freefall since 2019, when a mountain of debt and political gridlock, drove the nation into its deepest crisis since the 1975-1990 civil war.
What can we expect from gold and silver in 2022? Part of effectively answering that question is to look at the context of what happened this year. Nothing happens in a vacuum, after all. With that in mind, see if this review of 21 things that happened with gold and silver this year helps you prepare for 2022…
Powell: Inflation Now a “Big Threat.” After Downplaying Inflation All Year, Fed Is Getting SeriousDec 16, 2021 - 07:26:44 PST
“There is a real risk now that inflation may be more persistent,” Fed Chair Jerome Powell said today at the press conference, after downplaying it all year. “The risk of higher inflation becoming entrenched has certainly increased,” he said. “Part of the reason behind our move today is to put ourselves into the position to be able to deal with that risk.
Pelosi Rejects The Idea Of Congressional Stock Trading Ban, Claiming “We're A Free Market Economy"Dec 16, 2021 - 07:21:47 PST
House speaker Nancy Pelosi, who is worth $114 million and just 2 months ago was railing about how capitalism has "not served us well" and "needs improving" is all of a sudden a bold advocate for free market economics.
Dec 16, 2021 - 07:16:07 PST
Like John Belushi from The Blues Brothers, Fed Chair Jerome Powell is saying that the markets lackluster response in terms of bond yields to his “hawkish” announcement yesterday “isn’t his fault.”
Turkey will hike its minimum wage by a massive 50% to 4,250 lira ($275.44) per month next yearto address a currency crash and inflation spike,President Tayyip Erdogan said on Thursday.
After falling modestly in November, Markit's preliminary December Manufacturing and Services PMI were both expected to rebound (even as US macro surprise data started to disappoint), but the analysts were wrong.
Having surged back above pre-COVID-lockdown levels in October, analysts expected US Industrial Production to extend its improvement in November and it did but slightly worse than expected (+0.5% MoM vs +0.6% MoM exp) but followed an upward revision from +1.6% to +1.7% MoM in October...
After a mixed picture in October (starts down, permits up), analysts expected both to rise in November - and they were right.