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Social Security’s Cost-Of-Living Increase Will Be Far Smaller Next Year, Estimates ShowMay 12, 2023 - 05:53:02 PDT
The Senior Citizens League predicts Social Security benefits will increase 3.1% for 2024, while Moody’s Analytics puts the increase at 3.2%.
Standard & Poor's cut the US credit rating for the first time in 2011. The nation's debt is a lot worse now.
U.S. Treasury yields will rise significantly over the coming month, according to analysts polled by Reuters who were split over whether the risk of a U.S. default was higher or the same as prior stand-offs over the debt ceiling. President Joe Biden and top lawmakers in Congress have about three weeks to strike a deal over raising the $31.4 trillion U.S. debt limit, which has sharply...
Beneath the relative calm in American equity markets amid the standoff over the US debt limit, signs are emerging that investors are moving away from companies with outsize reliance on federal government contracts.
As the bank rate reaches 4.5%, the door is open for more hikes although the pound seems vulnerable.
The Bank of England’s forecasts for the UK economy have evolved so radically over the past six months that they have sown confusion and forced it to answer questions about its credibility.
Jamie Dimon said it’s time for regulators to help put an end to turmoil in the banking industry, but he’s already predicting policymakers will take away the wrong lessons from this year’s upheaval.
No matter how dire the situation when a bank fails, private investment firms can’t seem to get a nod for their salvage offers during US-run auctions — leaving them to wonder if they’ll ever be allowed to win.
Lenders’ borrowing costs are trailing the European Central Bank’s benchmark by the most on record, highlighting the challenge officials face to tighten monetary conditions after years of loose policy left markets awash with trillions of euros of liquidity.
Fed’s Bowman: More Rate Hikes Needed if Inflation, Job Market Remain StrongMay 12, 2023 - 05:28:15 PDT
Federal Reserve Governor Michelle Bowman said that latest readings on consumer prices and employment haven't convinced that inflation is dropping.
BofA Michael Hartnett Expects a Recession “To Crack Credit and Tech” Just as It Did in 2008May 12, 2023 - 05:24:42 PDT
A prolonged period of economic decline in the US will roil technology stocks at a time when they are attracting a weight of investor money, according to Bank of America Corp. strategists.
The delay comes after two days of talks that have featured goodwill but apparently little in the way of concrete progress.
Global Markets Tepid China Data, U.S. Debt Ceiling Stalemate Cap MarketsMay 12, 2023 - 05:20:27 PDT
Tepid Chinese economic data, haggling over U.S. government finances and uncertainty over interest rates left investors on edge and stocks stuck in a range on Friday.
The CPI data for April came out this week. The mainstream spin was that it was more good news for the Fed's inflation fight. But the actual data tells a different story. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the CPI report and the disconnect between the mainstream narrative and reality. He also highlights some interesting Q1 gold demand numbers.
LOL... YOU GOT TO SEE THIS: The Situation In The U.S. Shale Oil Industry Is Much Worse Than Market RealizesMay 12, 2023
How to bring down rising energy costs? Well, according to Trump during his CNN Town Hall, it's "DRILL BABY, DRILL." Unfortunately, this won't help Americans because the situation in the U.S. Shale Industry is much worse than the market realizes...
May 11, 2023 - 13:08:12 PDT
Silver prices are on a high as inventories come under pressure the world over. Silver Institute's Michael Dirienzo explains how much more silver can gain and why.
Investors Go For Gold As Prices Surge—But This Asset Is Still The Best Investment, Poll Finds: ForbeMay 11, 2023 - 13:04:23 PDT
Americans favor gold as the strongest long-term investment at the largest proportion in over a decade, a new survey found, as equities lose favor while the precious metal hovers at a near record high.
Dollar Unable to Recover More at the Moment Due to Uncertainty Surrounding the Debt Issue: CommerzMay 11, 2023 - 12:59:08 PDT
On the inflation front, progress is slow. Antje Praefcke, FX Analyst at Commerzbank, believes that the debt ceiling issue is dampening the Dollar at the moment.
It's easy to tune out warnings about our debt levels. It's also unwise.
The hype, misinformation and disinformation from housing market propagandists and home salesman (aka “realtors”) has become unbearable. Here’s a prime example: Now, I don’t …