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Dec 3, 2021 - 05:45:47 PST
“I realize that no one is clairvoyant but I think it’s fair to say that the experts who have been advising you about the future rate of inflation have pretty much the same credibility as those late-night psychic hotlines that you see on TV. Is the Fed considering increasing the pace of its tapering? We’ve got to get control of inflation. It’s ravaging our people.”
Oil Futures Climb Sharply to End Tumultuous Week After OPEC+’s Latest Move: MWDec 3, 2021 - 05:40:47 PST
Oil futures on Friday were trading sharply higher for a second session, but set for lackluster weekly move, capping a turbulent stretch of trade in energy trading, amid the emergence of omicron, a concerning strain of the coronavirus that causes COVID-19.
Treasury Secretary Janet Yellen said that it’s the Federal Reserve’s job to avert any wage-price spiral and that she understands the “reasoning” behind plans at the central bank to scale back its asset purchases.
November Payrolls Huge Miss: Just 210K Jobs Added, Fewest Since December 2020Dec 3, 2021 - 05:33:15 PST
With the median Wall Street economist expectation of a 550K print, just slightly above last month;s 531K, and whisper numbers of 564K, any number that came at or above (and wasn't a huge miss) would be seen by the market as validating the Fed's accelerated taper which could be announced as soon as Dec 15. Alas it was not meant to be, because moments ago the BLS...
Regardless, we cannot afford to play chicken with the full faith and credit of the U.S. government — we must raise the debt ceiling immediately, and it is reckless that we have not already done so,” she added.
Those writing off the International Monetary Fund as an institution that has long outlived its usefulness have not been paying attention to the alarming deterioration in emerging-market economic fundamentals in the wake of the Covid-19 pandemic. Nor have they been paying attention to inflation’s return in the advanced economies...
How the Federal Reserve responds to faster inflation is the biggest risk for corporate credit over the next year, according to one of the world’s largest bond investors.
Manchin Tells Senators He's Skeptical Build Back Better Can Pass This YearDec 3, 2021 - 05:17:50 PST
Manchin still has a number of concerns, namely that budget gimmicks hide the true cost of the bill, and he's pushing to ensure it costs no more than $1.75 trillion.
Retailers Confront 'Perfect Storm' as Thefts Skyrocket, Public Safety Breaks DownDec 3, 2021 - 05:10:45 PST
Some retailers have stepped up their security measures in response to the spree of smash and grab robberies. Along Rodeo Drive in Beverly Hills, California, patrolled the ritzy shopping district in response to at Louis Vuitton and Saks Fifth Avenue stores last weekend.
Global food inflation continues to rise for the fourth consecutive month in November, reaching levels not seen in a decade, led mainly by robust demand for wheat and dairy products, according to a new report via the Food and Agriculture Organization of the United Nations (FAO).
It's been about a year since I was interviewed by Geopolitics & Empire, so we decided to do an update on the current energy crisis and what troubles lie ahead for the Global High-Tech Economy. It seems that most people believe this current energy crisis is "TRANSITORY." It's not...
FORTUNA SILVER UPDATE DEC 3rd: Favorable News May Soon Have Positive Impact On Share PriceDecember 3, 2021
With favorable news coming out of Mexico, it could positively impact the share price of Fortuna Silver that experienced a significant selloff last month due to a permit issue at one of the company's mines. I wanted to share this news release and provide a short update on Fortuna Silver, with my estimate...
old still has considerable upside left in the early part of 2022, in the view of strategists at TD Securities. Jerome Powell is no hawk and will keep rates low for longer to achieve full employment, with economic data driving decisions.
Irish Central Bank Makes First Reserve Gold Purchases Since 2009: BloombergDec 2, 2021 - 13:11:28 PST
The Irish central bank has been adding to its gold reserves as inflation in the euro area runs far ahead of the European Central Bank target. The Dublin-based institution’s purchase of 2 tons of gold in recent months has ended a more than decade-long period of unchanged holdings of the precious metal.
Dec 2, 2021 - 13:04:30 PST
Turkey shows the danger of inflation and giving officials free rein to mess with money.
Looking at markets from the macro view helps us estimate what "should" happen next. But to improve our overall understanding, we also need to take into account what "is" happening right now.
Dec 2, 2021 - 12:55:43 PST
The Dream Team (Fed Chair Jay Powell and Treasury Secretary Janet Yellen) just can’t believe that inflation struck even after M1 Money Stock increased by 369% from March 2020 to today while interest rates remained near zero.
In discussions surrounding of the world’s monetary systems today there is usually one thing almost everyone can agree on: that money should be controlled by the organizations we call “states” or “sovereign states.” Nowadays when we say “the US dollar” we mean the currency issued by the US government. When we say “the British pound” we mean the money issued by the regime of the United Kingdom.
"The Fed’s recent asset purchases appear to have significantly expanded the money supply. But given the small changes in bank lending, it is not clear what their overall effects will be on inflation and the economy." ~ Thomas L. Hogan
The emergence and acceptance of Modern Monetary Theory has turned our economic system upside down. Skeptics of its substance and sustainability have been brushed aside temporarily but expect the MMT experiment to collapse and end in ruin.