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Pandora Papers: Biggest Ever Leak of Offshore Data Exposes Financial Secrets of Rich and PowerfulOct 4, 2021 - 08:11:36 PDT
The secret deals and hidden assets of some of the world’s richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history.
Oct 4, 2021 - 08:06:11 PDT
The weapon was launched from the surface in the White Sea and successfully hit a target in the Barents Sea, said the defense ministry in Moscow. Russia claims the "unstoppable" Mach 9 missile is able to evade all Western defences
Taiwan reported the largest ever incursion by China's air force into its air defence zone on Monday at 52 aircraft, saying the Taiwanese air force had to scramble for the fourth straight day to warn off the intruders, as tensions spiralled.
Fed Prepares to Launch Review of Possible Central Bank Digital Currency: WSJOct 4, 2021 - 07:57:14 PDT
Fed officials are divided on the matter, making it unlikely they will decide any time soon on whether to create a digital dollar. Unlike private cryptocurrencies like bitcoin, a Fed version would be issued by and backed by the U.S. central bank, a government entity, as are U.S. paper dollar bills and coins.
The central bank plans to begin yanking back assistance to the economy as early as next month, and many Fed officials are open to increasing interest rates next year.
Inflation remained high in August, latest data show. The Personal Consumption Expenditures Chain-type Price Index (PCEPI) grew at a rate of 4.3 from August 2020 to August 2021. The PCEPI remains above the level consistent with the Fed’s average inflation target, as projected from January 2020.
Gold prices hit a near two-week peak on Monday, as a weaker dollar offset bets that the U.S. Federal Reserve could begin tapering its pandemic-era asset purchases soon.
We've written extensively about the "war on cash." In a nutshell, governments would love to do away with cash in order to better track and control their citizens. There have been numerous moves closer to a cashless society in recent years, from capping ATM withdrawals to doing away with large-denomination bills. Last year, China launched a digital yuan pilot program and the US has floated moving toward a digital dollar.
‘A Perfect Storm’: A Stagflationary Wind Could Blow World Economy off CourseOct 4, 2021 - 05:27:47 PDT
All the problems are in one way or another tangled up in the surge of post-pandemic consumer demand, but taken together they threaten what one leading economist calls a “stagflationary wind” that could blow the global economy off course.
U.S. Federal Reserve Vice Chair Richard Clarida traded between $1 million and $5 million out of a bond fund into stock funds one day before Chair Jerome Powell issued a statement indicating potential policy action due to the worsening of the COVID-19 pandemic, Bloomberg News reported on Friday.
Mortgage Rates Spike Above 3% and Make Refinancing More Urgent for HomeownersOct 4, 2021 - 05:20:26 PDT
Experts say the end of historically low refinance rates could be near.
The state strives for power, and what grants power is fear and dependence. The state is making people dependent on it, both as means for control and as an outcome of many policies intended to provide relief.
A huge change has come to the federal Supplemental Nutrition Assistance Program, or SNAP.
World stocks were on the back foot on Monday and the dollar stayed close to one-year highs on concerns that higher inflation, supply shortages and China's property sector woes would put global economic recovery at risk. Stock markets slipped to 2-1/2-month lows last week, following a torrid September that saw them shed more than 4% as U.S. Treasury...
As China Evergrande Group edges closer to a massive restructuring, Beijing has stepped up efforts to limit the fallout, signaling it’s willing to prop up healthy developers, homeowners and the real estate market at the expense of global bondholders. In the last week alone, Chinese authorities have dispatched top financial regulators to nudge the country’s massive...
Jay Powell is likely to be renominated for another four years, but he'll have a new board to deal with and they will be partly picked by his chief antagonist, Sen. Elizabeth Warren.
The U.S. government’s interest payments over the next three years will be as low as any time since the 1960s, measured against the size of the economy, according to the Congressional Budget Office. That’s because the long decline in borrowing costs more than outweighs the extra debt taken on by the government to prop up the economy in the 2008 financial crisis and the pandemic.
Fed officials are divided on the matter, making it unlikely they will decide soon on whether to create a digital dollar.
“HOUSE of CARDs coming down. Real estate crashing with stock market,” Kiyosaki tweeted last week. “China’s Evergrande Group cannot pay. Valuation of properties fake. Will real estate crash spread to US? Yes.”
Stock futures pointed to a lower open on Monday, giving back some of Friday's gains as traders awaited new economic and earnings data this week to confirm or assuage concerns over supply chain challenges, inflation and the pace of the labor market's recovery.