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It's no secret that a massive exodus is underway in the US, as Americans flee places like New York, California, and Illinois in vast numbers.
But it's important to understand who is fleeing these states.
The Argentine peso has lost half its value in one year. Both the official and parallel exchange rates with the US dollar and the Mexican peso have doubled in one year. Consumer prices have doubled in one year. The quantity of Argentine pesos has doubled in one year.
Behind closed doors, the report is already making the rounds in expert circles: if you follow the rules of sound commercial accounting, the United States Federal Reserve (Fed) has lost its equity and is, as common language would have it, bankrupt. What happened?
Why I’m Skeptical of Powell’s Claim Red-Hot Rent CPI Will Just Vanish: Landlords Report the Opposite, even for AprilMay 8, 2023 - 11:30:45 PDT
High demand by renters of choice trying to outwait the housing turmoil pushes up actual rents in a range of 6% to 8%.
May 8, 2023 - 11:28:56 PDT
The Wall Street Journal notes the Ballooning Size of Wind and Solar Projects Draws Local Ire...
Here's the Congressional Budget Office take on McCarthy's Limit, Save, Grow Act
NY Fed Finds Inflation Expectations Mixed, As Spending Growth Outlook Tumbles To Two Year LowMay 8, 2023 - 10:44:20 PDT
While we wait for today's 2pm SLOOS release, where the latest C&I credit standards are expected to measure at a level tighter than the dot-com crisis (if still less extreme than during the financial crisis or the height of the pandemic... at least until a few more banks collapse), earlier today the NY Fed published the results of its April Survey of Consumer Expectations...
Yellen Warns Against Debt Ceiling Talks With ‘Gun to the Head of the American People'May 8, 2023 - 08:04:09 PDT
U.S. Treasury Secretary Janet Yellen on Sunday issued a stark warning that a failure by Congress to act on the debt ceiling could trigger a "constitutional crisis" that also would call into question the federal government's creditworthiness.
U.S. Exchanges List More Than a Dozen Cryptos the SEC Says Are Illegal to Sell: WSJMay 8, 2023 - 08:02:06 PDT
The number of tokens the regulator has labeled as securities almost tripled in 2022.
German industrial production sank by the most in a year — raising the risk that Europe’s largest economy slipped into a winter recession.
Utter Chaos at the Short End of the Treasury Market and at the 28-Day Treasury Bill Auction: A Deep DiveMay 8, 2023 - 07:54:13 PDT
Investors exacting their pound of flesh for the risk of a default “as early as” June 1.
Retailers abandon downtown San Francisco in droves. Nordstrom is the latest, signaling the death of the area.
California just did what Slow Joe Biden and Senate Majority Leader Chuckles Schumer are threatening to do. Biden and Schumer still refuse to negotiate (allegedly) sending the US Federal government …
May 8, 2023 - 07:46:07 PDT
The Federal government in Washington DC is broken beyond repair. Politicians get elected by promising free or cheap things, so they keep delivering the bacon. Or pork to political donors. The top 1…
Yes, the banking system under green zealots and spendiholics Biden, Pelosi and Schumer have helped drive inflation to 40 years highs leading The Fed to counterattack and raise interest rates and slow M2 Money supply.
On May 1, government bank officials sold Republic Bank to JP Morgan Chase, the largest bank in the country. Even the New York Times report about the sale recognized that the normal rules had been suspended when the interests of the big government-big bank cabal were at stake: “Lawmakers and regulators have spent years erecting laws and rules meant to limit the power...
May 8, 2023 - 07:35:19 PDT
A growing number of countries are opting to diversify settlement currencies, stepping away from only using the "US-weaponized" dollar, or ditching it altogether in favor of the yuan, the increasingly internationalized currency of China – a top trading partner of more than 140 countries.
May 8, 2023 - 07:34:12 PDT
Hedge fund manager and macro economic expert Hugh Hendry just issued a major warning on the US banking system and the American economy as a whole.
May 8, 2023 - 07:31:04 PDT
The average price of a new car in the U.S. soared to $48,008 in March, up 30 percent from March 2020, according to Kelley Blue Book.
May 8, 2023 - 07:27:51 PDT
Deposits at U.S. commercial banks have fallen to lowest figure in nearly two years, according to the Federal Reserve. This figure has fallen by $500 billion since the Silicon Valley Bank collapse. However, total banking credit has risen to a new record high of $17 trillion, according to the U.S. central bank. Fewer deposits, but more credit. What could go wrong?