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"'Taxation by citation' is a license for bureaucratic tyranny. How much longer will local politicians be permitted to plunder drivers and subvert safety with impunity?"
Bitcoin, ethereum, dogecoin and other crypto investors would be subject to the wash-sale rules that apply to stocks if House Democrats' proposal becomes law.
Why is the Fed seemingly on a mission to obfuscate the most useful economic data available? Are they trying to cover their tracks? What are they trying to hide? Join Mike Maloney in today’s video where he shows that this alarming trend is accelerating.
Sep 14, 2021 - 11:12:46 PDT
A new analysis projects that private capital, wages, and America's GDP will fall over the next three decades if Congress passes the $3.5 trillion reconciliation package. But at least government debt will grow!
41% of Americans Say It’s ‘Going To Take a Miracle’ To Be Ready for Retirement: ReportSep 14, 2021 - 11:09:22 PDT
Covid hurt Americans' retirement security. A new ranking looks at which countries fared better, based on finances, health and quality of life.
Stimulus Checks and Unemployment Benefits Lowered Poverty in 2020, Census SaysSep 14, 2021 - 11:04:53 PDT
Still, the fall in the supplemental rate means that government aid put in place during the coronavirus pandemic and ensuing economic recession – the worst since the Great Depression – lifted millions of Americans out of poverty last year.
U.S. household income fell in 2020 while the national poverty rate rose from a 60-year low as the Covid-19 pandemic upended the U.S. economy and threw millions out of work. Median, inflation-adjusted household income decreased 2.9% last year to $67,521 according to annual data released Tuesday by the U.S. Census Bureau. The poverty rate rose one....
Sep 14, 2021 - 10:50:49 PDT
As it leaves Afghanistan in chaos, America’s decline mirrors Britain’s a century ago. It may also invite wider conflict, warns a historian | By Invitation
President Joe Biden’s push to ramp up taxes on the wealthy is getting diluted by his Democratic allies in Congress, undermining his chances of fully delivering on his 2020 campaign pledge to curb America’s widening inequality.A blueprint that the House Ways and Means Committee will begin voting on Tuesday, prepared by Democratic members and staff...
Gold futures turn higher Tuesday as a report on the cost of living in the U.S. rose in August at the slowest pace in seven months.
Global Debt Is Fast Approaching Record $300 Trillion: Institute of International FinanceSep 14, 2021 - 08:15:40 PDT
Global debt rose to a new record high of nearly $300 trillion in the second quarter, but the debt-to-GDP ratio declined for the first time since the start of the pandemic as economic growth rebounded, the Institute of International Finance (IIF) said on Tuesday.
Sep 14, 2021 - 08:05:33 PDT
(Too Bad Hourly Wages Are Growing At 4.3%!). US inflation is run, runaway. Americans are expecting a record surge in inflation over the next few years, according to a new report from the Federal Reserve Bank of New York. In its August Survey …
Cash-strapped property group China Evergrande Group said on Tuesday it has engaged advisers to examine its financial options and warned of default risks amid plunging property sales, sending its stock and bond prices sharply lower.
Americans Expect Their Pay Whacked by Red-Hot Inflation, Blow Off Fed’s Sermons About “Temporary”Sep 14, 2021 - 07:42:50 PDT
And those who experienced the 1970s & 1980s inflation as adults expect 6.0% inflation a year from now.
Warren wants the Fed to break up Wells Fargo's banking unit from its other businesses, citing risks to consumers.
Watch SEC Chair Gensler Discuss the Agency’s Oversight, Including Crypto, Before the SenateSep 14, 2021 - 07:31:06 PDT
Senate lawmakers will grill Securities and Exchange Commission Chairman Gary Gensler over the regulator's plans to regulate cryptocurrency markets on Tuesday.
The Federal Budget Deficit for August 2021 was $171B which was down from the $302B in July. The chart below shows the Federal Budget for the previous 18 months.
There is plenty of risk and uncertainty that might give rise to our next financial crisis.
As anxiety over the timing of the taper (not the if but the when) rise, all eyes are anchored on this morning's CPI (which was expected to rise MoM again but drop marginally on a YoY basis). Both headline (+0.3% MoM vs +0.4% MoM exp) and core (+0.1% MoM vs +0.3% MoM exp) CPI printed below expectations but on a YoY basis headline CPI rose 5.3% - as expected.
Global housing prices are rising at the fastest pace since 2005, as low interest rates, housing shortages and abundant household savings continue to boost the housing market. According to real estate consultant Knight Frank, average annual price …