Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Home Depot, Costco, Walmart, Target, and Dollar Tree have turned to private ship charters in an effort to stock shelves for the holiday season.
Since the last FOMC meeting (September 22nd) - when Chair Powell began to detail the taper and rate-hike traajectory to come - bonds are down (yields higher) but stocks, gold, and the dollar are all up around 1%...
Part 1 - October 7, 2021
Oct 13, 2021 - 08:59:48 PDT
The Federal Reserve’s new motto: making housing unaffordable! With help from the US Treasury.
Oct 13, 2021 - 08:55:38 PDT
Regulation U is a 1936 Federal Reserve rule, that is still in force today, that allows federally-insured, taxpayer backstopped commercial banks to make margin loans for speculating in stocks. Unlike 1936, however, Wall Street trading houses are today allowed to own their own federally-insured, taxpayer backstopped commercial banks. That has allowed a lot of...
"There are many good economists who work for the IMF and they often produce high-quality research. Sadly, their sensible analysis doesn’t seem to have any impact on the decisions of the organization’s top bureaucrats."
Oct 13, 2021 - 08:52:33 PDT
The Federal Reserve Bank of New York has quietly posted the names of the banks that grabbed billions of dollars under the Fed’s emergency repo loan operations that commenced on September 17, 2019 – months before there was a COVID-19 crisis anywhere in the world.
Oct 13, 2021 - 08:51:00 PDT
The House of Representatives voted Tuesday evening to lift the debt ceiling by $480 billion, temporarily postponing a possible default until early December. The bill, which had passed the Senate last week, heads to President Joe Biden's desk a few days before the October 18 deadline that Treasury Department officials had set for a possible default.
Oct 13, 2021 - 08:47:12 PDT
Let's look at 11 sectors in search of job winners and losers.
Serious Financial Problems Afflict 40% of US Households in Recent MonthsOct 13, 2021 - 08:44:18 PDT
Households struggle to afford medical care and food, with figure rising to 59% for those with income under $50,000 a year
Not Enough: Seniors’ Calls for Congress To Send $1,400 Stimulus Checks to Social Security RecipientsOct 13, 2021 - 07:08:19 PDT
The Social Security cost-of-living adjustment for 2022 could give beneficiaries the biggest increase they've seen in years. One group says that's not enough.
Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic .
Oct 13, 2021 - 07:01:23 PDT
Republicans are calling the IRS monitoring the 600 dollar transactions as overreach, amounting to a “surveillance state.”
The image above may be considered by some as unfair, as it suggests that taxation is a form of robbery. Well, let’s check the dictionary for a definition: “Robbery is defined as taking away of goods or property by force or intimidation.” Well, that certainly fits the bill. Of course, Inland Revenue (or the IRS, CRA, etc., depending upon where you’re from) would...
In short, no one can authoritatively list the single reason why workforce growth is so slow, or where all the "missing" workers are. But we should watch closely as more data become available. After all, the future arrives one day at a time, and no faster.
There was a recent scandal at the Federal Reserve when information came out revealing that several central bank officials made multiple multimillion-dollar stock trades in 2020 even as the Fed was putting its big fat thumb on the economic scales. But as Ron Paul points out, there's an even bigger scandal over at the Federal Reserve and it's a matter of policy. The Fed's manipulation of monetary policy and the broader economy impoverishes ordinary Americans, even as it enriches the elites, and facilitates government debt and deficits.
Government policies - from shutdowns, to stimulus, to vaccine mandates - in response to the coronavirus pandemic have thrown the US economy completely out of whack. Looking at employment reveals just how messed up the economy has become.The number of Americans quitting their jobs surged to a record high in August. According to the Labor Department Job Openings and Labor Turnover Survey (JOLTS) report, job quits increased by 242,000 in August, pushing the total to a record 4.3 million. The quits rate surged to an all-time high of 2.9% in August from 2.7% in July.
Headline Consumer Price Inflation Jumps Back To Highest In 13 Years: Housing Costs SoarOct 13, 2021 - 05:40:34 PDT
Having slowed for two straight months, whisper numbers predicted a slightly hotter than expected September CPI (edging up to 5.4% YoY, slightly above the consensus of 5.3%) on the back of a re-intensification of supply-chain bottlenecks due to a combination of natural disasters and COVID disruptions in the US and Asia kept pressure on manufactured goods in September.
Oct 13, 2021 - 05:35:37 PDT
Former U.S. Treasury Secretary Larry Summers has sounded alarm bells over risks of runaway inflation in the U.S., saying the Federal Reserve is moving glacially in its efforts to counter the threat.
The Federal Reserve announced Tuesday that Randal Quarles will no longer be in charge of regulating the country's financial system after his vice chairmanship expires Wednesday, a move that could mark the beginning of major leadership changes at the Fed.