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Shortages in Charts: Supply at Clothing Stores Gets Tight, Food Stores Near NormalAug 19, 2021 - 07:30:40 PDT
Over-stimulated demand, tangled supply chains: shortages for some, plenty of supply for others.
9 Republican Senators voted with the Democrats to pass a bipartisan $1 trillion infrastructure bill that even Bernie Sanders likes.
"Many costly tax and other economic policy mistakes were made in the seventies, but the worst problems of the 1973-82 stagflationary era by far were the legacy of terrible monetary and regulatory blunders made in 1971."
Aug 19, 2021 - 07:19:57 PDT
The final price tag could eventually exceed $6 trillion, and American taxpayers will be paying the tab when the 50th anniversary of 9/11 arrives.
According to the Federal Reserve, it exists to "stabilize" the economy. Does it though?Despite inflation coming in hotter than expected month after month this year, Federal Reserve Chairman Jerome Powell assures us we need not worry. This surge of inflation is "transitory." But even if it isn't we still don't need to worry. He assures us that if inflation does prove to be significant and “materially” above its 2% goal, the Fed will use its tools to guide inflation back down.
Palantir Technologies Inc. bought $50.7 million in gold bars this month as a hedge against another "black swan event." The company is also inviting customers to pay for data analysis software in gold.
Total Number Of Americans On The Dole Drops Below 12 Million For First Time Since COVID CrisisAug 19, 2021 - 05:39:59 PDT
Initial jobless claims dropped below their recent range last week, falling to their lowest level since the COVID-lockdowns crushed the economy. 348k Americans filed for jobless benefits for the first time last wek (down from 377k last week and below the 364k expectation)...
Initial claims for unemployment insurance were expected to total 365,000 for the week ended Aug. 14, according to economists surveyed by Dow Jones.
Bitcoin Volatility Will Drive Investors Back to Gold, Says Mining Firm ChairmanAug 19, 2021 - 05:30:25 PDT
The executive chairman of Evolution Mining said bitcoin still has a "long way to go" before it demonstrates the "longevity and security" that gold has proven to offer investors.
More Than $90 Million in Cryptocurrency Stolen After a Top Japanese Exchange Was HackedAug 19, 2021 - 05:27:37 PDT
Japanese cryptocurrency exchange Liquid has said some of its digital currency wallets have been "compromised."
Cryptocurrency Traders Seek Damages From Binance After a Major Outage Cost Them MillionsAug 19, 2021 - 05:26:36 PDT
Hundreds of investors are expected to take part in proceedings against crypto exchange Binance, seeking damages for money they lost during a major outage.
Rental concessions are ending and prices are spiking as Covid-19 restrictions end and housing demand increases.
China’s Communist Party Goes Back to Basics: Less for the Rich, More for the Poor: WSJAug 19, 2021 - 05:20:55 PDT
The president is signaling plans to more assertively promote social equality, as he tries to solidify popular support for continued Communist Party rule.
61% of Americans Paid No Federal Income Taxes in 2020, Tax Policy Center SaysAug 19, 2021 - 05:19:18 PDT
The Tax Policy Center said 107 million households, or 61% of taxpayers, owed no income taxes in 2020. That's up from 76 million, or 44% of taxpayers, in 2019.
Get Vaxxed or Else. I’d like to stop writing about COVID, but I can’t because it has such strong economic implications, which can’t be separated. And I’m afraid policies will be enacted that will only make things worse.
Here Comes Stagflation: Goldman Slashes GDP Estimate For Second Time In 3 Weeks, Sees "Bigger Inflation Surge"Aug 19, 2021 - 05:12:06 PDT
It was good while it lasted, but the party is well and truly ending.
World's Largest Sovereign Wealth Fund Warns High Inflation 'Could Spark Losses Like Never Before'Aug 19, 2021 - 05:10:11 PDT
The fund noted that its strong performance came from "sectors exposed more to inflation, such as energy, financials, materials, real estate and industrials," earning it 990 billion crowns ($111 billion) in the January-June period.
China Portrays the U.S. As ‘Weak and Unreliable’ To Draw Taiwan Closer, Analyst SaysAug 19, 2021 - 05:06:16 PDT
Rodger Baker of Stratfor said China has sought to portray the U.S. as a "weak and unreliable power" following the Taliban's swift takeover of Afghanistan.
U.S. Treasury yields fell on Thursday morning, despite talk from the Federal Reserve of tapering bond purchases before the end of the year.
Dow Futures Drop More Than 300 Points, Commodities Retreat on Concern About the Fed Removing StimuluAug 19, 2021 - 04:59:53 PDT
Wall Street suffered a sell-off after the Fed's meeting minutes showed officials made plans to pull back the pace of their bond-buying before end of 2021.