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Thirty-Six Million French Handed 100 Euros Each Because of Inflation With Soaring Gas PricesOct 29, 2021 - 05:10:13 PDT
The one-off payment will help about 36 million people who earn less than 2,000 euros (£1,680) a month, including employees, self-employed workers, job seekers and retired people, Mr Castex said.
Euro-area inflation accelerated more than expected to breach 4% for only the second time ever, adding to the European Central Bank’s challenge in battling increasingly aggressive market bets for interest-rate hikes.
Investors eyed a couple of disappointing earnings results from Apple and Amazon amid an otherwise solid quarterly reporting season from many major companies
Gold futures climb on Thursday to settle above a psychologically significant level at $1,800 that the precious metal has struggled to hold above in recent weeks, after data showing growth in the U.S. economy significantly slowed in the third quarter.
Gold may hit a fresh record high in the next 12 months as investors seek haven from a buildup of inflationary pressures. That’s the view of Agnico-Eagle Mines Ltd. Chief Executive Officer Sean Boyd, who expects bullion to surpass the current record of $2,075.47 an ounce reached in August last year.
Oct 28, 2021 - 12:57:17 PDT
This month, the Vanderbilt Law Review published a 69-page paper by Saule Omarova, President Biden’s nominee to head the Office of the Comptroller of the Currency (OCC), the Federal regulator of the largest banks in the country that operate across state lines. The paper is titled “The People’s Ledger: How to Democratize Money and Finance the Economy.”
If China’s Keeps Stumbling, It Won’t Just Take Down Beijing – The Whole World Will Collapse With ItOct 28, 2021 - 12:41:56 PDT
Crushed by decades of debt, China is undergoing a radical transition under President Xi Jinping. The result could be global economic and political chaos.
Chicago Council Approves $16.7 Billion Budget With Guaranteed Basic IncomeOct 28, 2021 - 12:16:33 PDT
The Chicago City Council on Wednesday approved a $16.7 billion budget for 2022 designed to help the city recover from losses sustained during the pandemic, through measures including one of the biggest guaranteed basic income programs in the country.
The current energy crunch is set to worsen over winter and will lead to a spike in heating bills, food costs, and fuel prices
Oct 28, 2021 - 11:25:23 PDT
Venezuela printed money and won praise from progressives by spending some on programs they said would help the poor. But the poor and the middle class were crushed by the inflation that followed: 20 percent…then 100 percent…3,000 percent…40,000 percent! This destroyed Venezuela.
After a blissful week immersed in the world of housing finance at the Mortgage Bankers Association annual meeting in San Diego, we thought to return to ground zero of monetary policy. Below are three questions we’d ask Federal Reserve Board Chairman Jerome Powell if the opportunity arose. Suffice to say, we’d like some guidance on the size of the System...
Inflation is ROARING. Five year breakevens, which is a key inflation measure, just hit a new all-time high of 3.0% (started in 2002). Inflation expectations running out to five years are now higher than at any point in the last ~20 years.
Even at currently elevated US home-price levels, buying still makes sense for those who are set on ownership. But buyers need to be sure that they can accept what could be a rather bumpy and disappointing long-term path for home values.
Skimpflation, Shrinkflation and the Rising Rebellion of Workers and ConsumersOct 28, 2021 - 08:43:24 PDT
While Corporate America is focusing on preserving its precious profits, its customers and workforce are rebelling by walking away.
The dramatic rally in oil and gas prices is weighing on global food supply chains, with transport and farming costs set to rise even higher
The global semiconductor shortage is worsening, with wait times lengthening, buyers hoarding products and the potential end looking less likely to materialize by next year.
The nominee to lead the U.S.’s top swaps regulator has a warning for lawmakers: Crypto misconduct the agency has already exposed is “the tip of the iceberg” and it likely needs more authority to police the white-hot market.
Global markets may be failing to properly grasp the risks stemming from China, evidenced by stocks trading at near-record levels. A major challenge is China’s Covid-zero strategy, which heralds rolling mobility curbs, supply-chain snarls and trade disruption, according to Frances Donald, global head of macro-strategy at Manulife Asset Management.
Congress' approval rating has fallen to its lowest level of the year, mainly because rank-and-file Democrats have turned negative.
New Report Shows Growth of the Welfare State Has Fueled Long-Term Declines in the Labor ForceOct 28, 2021 - 07:07:12 PDT
Massive labor shortage continues to grip the nation and hold back our economic recovery. With countless pandemic & policy factors influencing the shortage, there’s a heated debate over what’s keeping so many workers out of the labor force. But a new study confirms that the growth of the welfare state is playing a massive role—& that this trend began long before the pandemic.