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Social Security Checks May See a Huge Raise Next Year. Will It Be Enough?Jul 26, 2021 - 10:47:55 PDT
Advocates say benefits haven't kept up with inflation — and that probably won't change.
Fed Now Facing Twin Inflation, Growth Risks As Virus Jumps and Supply Chains FalterJul 26, 2021 - 10:30:04 PDT
A U.S. Federal Reserve divided over how to respond to fast-rising prices meets this week with the fresh complication of increased coronavirus infections and a global supply chain that, far from sorting out its problems, may be headed for more inflation-inducing trouble.
Senate Republicans plan to demand big spending reforms in exchange for their support of legislation to raise the nation’s debt ceiling, seeking leverage to rein in President Biden’s plan to pump trillions of dollars into the economy.
DOJ Reportedly Investigates Crypto Company Tether for Possible Bank FraudJul 26, 2021 - 10:07:08 PDT
The Justice Department is investigating possible bank fraud by executives of Tether Ltd., according to Bloomberg News.
The U.S. economy is expected to post another roaring growth spurt in the second quarter, before a slow and steady dose of reality starts to sink in.
Did Today's Shockingly Bad Home Sales Data Just Derail The Fed's Tapering PlansJul 26, 2021 - 09:47:16 PDT
he answer will be revealed in just over 48 hours...
Great news: The US economy is officially out of recession. We know this because the National Bureau of Economic Research’s official recession-calling committee said so this week. The economy has been in an expansion phase since last April, making this the shortest recession on record at only two months.
Bond Market Has Been Clueless about Inflation for Decades, Now More so Than EverJul 26, 2021 - 09:00:41 PDT
Even before QE, the 10-year yield lagged years behind CPI, up and down. And now, the Fed manipulates the market with QE.
Earnings up, multiples down. Such seems to be a straightforward rationale for why investors should pile into markets as it enters a "new phase."
The recession of 2020 was the shortest in history. Given the recession was cut short by record interventions the next recession is now advanced.
Jul 26, 2021 - 08:57:36 PDT
A simplified tax code is the answer, not giving the IRS more funding.
Daniel Lacalle - In English
“Inflation is not going to be transitory,” the chief economic adviser at Allianz (DE:ALVG) SE said in an interview on Bloomberg TV’s The Open show. “I’ve been pretty certain in my mind about three prior calls. This is the fourth one.”
Americans’ Optimism About Country’s Direction Over Next Year Drops Nearly 20 Points Since May: POLLJul 26, 2021 - 08:21:32 PDT
In May, a little more than a third were pessimistic. Now, it is a majority, a new ABC News/Ipsos poll finds.
Jul 26, 2021 - 07:27:53 PDT
Last week’s stock market performance was something to see, sparking by Covid Delta Variant outbreaks. Perhaps the most frightening event was Anthony Fauci hinting that a return to indoor mask…
This is classic end-of-cycle, fear-of-missing-out, speculative behavior. When the music does stop, “interesting” will be a hell of an understatement. As private equity assets drop in value and the debt burden increases, defaults will rise, and it will be private credit funds that take the hit. A double whammy of deflation.
After existing-home sales printed a very modest rebound from lowered numbers, analysts expect new home sales to rebound from 12-month lows in June (even as homebuilder confidence sinks to an 11-month low), but boy oh boy were they wrong.
Mainstream pundits sometimes accuse Peter Schiff of being a "stopped clock." They admit he's right occasionally, but only by virtue of sticking to the same narrative, talking about the malinvestments and misallocations in the economy and warning about an impending crisis. In this clip from his podcast, Peter said it's the mainstream regulars on financial networks like CNBC who are the real stopped clocks.
Time To Buy Gold As A Hedge Against "Extreme Financial Deleveraging" Credit Suisse SaysJul 26, 2021 - 05:42:36 PDT
It's been a while since Wall Street banks recommended anything to do with either gold or gold stocks, but in a surprising reversal, last week one of Wall Street's biggest bulls Credit Suisse said that the time has come to use gold stocks as a risk off diversifier, while seeing material upside for the precious metal.
Just as the expendable teenagers will always split up and then open the wrong doors, we can count on the US Federal Reserve and Congress to do the stupid thing. In this case, that would be congressional inaction on the artificial debt ceiling limit and the real (as distinct from rhetorical) budget. This nonsense is limiting how many Treasury bills and short-term government securities can be issued.