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Jul 8, 2021 - 11:49:46 PDT
Freddie Mac’s 30-year mortgage rate index fell to 2.90% as The Fed keeps buying agency mortgage-backed securities. As The Fed helps to lower mortgage rates, the supply of low-end housing keep…
"Swiss voters overwhelmingly rejected a referendum for basic income back in 2016. Further, Joe Biden expressed skepticism about the idea back in 2017, but he obviously has had a change of heart, given his current support for big, per-child handouts." ~ Daniel J. Mitchell
The chief problem facing most of the worlds developed economies today is the level of outstanding debt, both private and public. Whilst the creation of debt can represent an expansion in the broad money supply, the destruction of debt conversely equates to a contraction in the money supply. As all debts must eventually be repaid, debt by nature is deflationary over time.
While Federal Reserve Chairman Jerome Powell has insisted that the recent surge in inflation is "transitory," pointing to the more than 50% decline in the cost of lumber as evidence that prices will cool as supply chain issues caused by COVID-19 are resolved, he has not yet hinted that deflation could be emerging.
Jul 8, 2021 - 10:20:19 PDT
Jul.07 -- Paul Gambles, co-founder and managing partner at MBMG Group, sees deflation, recession and depression as his top three market risks. He speaks with Haslinda Amin and Rishaad Salamat on "Bloomberg Markets: Asia."
Jul 8, 2021 - 09:55:33 PDT
Let's discuss the meaning of "free" through the eyes of president Biden.
Jul 8, 2021 - 09:53:52 PDT
Inquiring minds are digging into the Minutes of the June Federal Open Market Committee Minutes for clues on inflation (emphasis mine).
Jul 8, 2021 - 09:09:47 PDT
Many are expressing unease at the effects of their policies. Amid all the misery and mortality, the number of millionaires rose last year by 5.2m to over 56m, according to the Global Wealth Report published by Credit Suisse, a bank. The one percent increased their share of wealth to 45%, a percentage point higher than in 2019.
Jul 8, 2021 - 09:03:39 PDT
Central banks around the world, led by the Federal Reserve, appear to wish to stick to the ‘static approach’ of monetary policy, maintaining their present unconventional stance for as long as possible. This policy is inadequate to solve the world’s real challenges and is fraught with danger. High leverage poses great dangers unless Fed modifies ‘static approach’
Wells Unexpectedly Shuts All Existing Personal Lines Of Credit, Hinting US Economy On The EdgeJul 8, 2021 - 08:45:31 PDT
Which is why the timing of this latest decision is so curious. As Treasury yields drop, signaling unease about the trajectory of the global post-pandemic recovery, amid nervousness about a potential Fed rate hike before the end of next year, is the bank simply engaging in some prudent risk-management while using the Fed's balance-sheet order as an excuse?
U.S. Heading for ‘Dangerous Fall’ With Surge in Delta COVID Cases and Return of Indoor Mask MandatesJul 8, 2021 - 08:44:13 PDT
The U.S., which just celebrated the Fourth of July, is headed toward a "dangerous" fall when the delta variant is expected to cause another surge in new cases.
Market's 4th Worst Open Ever As Stench Of Bad Breadth Is Worst Since Dot Com BubbleJul 8, 2021 - 08:39:49 PDT
Stocks are trading just 1% below their all time high, yet judging by today's open there was sheer capitulation panic.
The World Bank Lebanon Economic Monitor for Spring 2021 is subtitled “Lebanon Sinking (To the Top Three).” The reason for that somewhat cryptic title is described in the opening lines of the report:..
In this special issue of our Q-Review series, we analyze the changes the monetary system is likely to face in coming years.
Borrowing Is Back as Sign-Ups for Auto Loans, Credit Cards Hit Records; WSJJul 8, 2021 - 07:37:01 PDT
Lenders extended a record number of auto loans and leases in March and issued more general-purpose credit cards than any other March on record.
Jul 8, 2021 - 07:29:37 PDT
he European Central Bank has discovered that a bit more inflation need not come with a health warning. While significant in the context of ECB history, the shift brings doctrine into line with real-world forces that officials have wrestled with since the euro's inception.
The European Central Bank raised its goal for inflation and may let it overshoot the target for a while, giving officials more discretion in how to bolster the economy after years of lackluster performance.In the culmination of an 18-month review published Thursday, policy makers agreed to seek consumer-price growth of 2% over the medium-term...
The cost to ship a boxload of goods to the U.S. from China edged close to $10,000 as the world’s biggest economy keeps vacuuming up imports amid slower recoveries from the pandemic from Europe to Asia.The spot rate for a 40-foot container from Shanghai to Los Angeles increased to $9,631, up 5% from the previous week and 229% higher than a year...
A furious plunge in Treasury yields is reverberating through global financial markets, propelling shares of fast-growing tech companies to new records and driving down corporate borrowing costs, but raising fresh concern about the outlook for financial returns.
Prices are getting unaffordable from New York to New Zealand.