Gold has all the potential to go unprecedentedly high. But silver will be gold on
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What's the big deal about the federal debt ceiling? The controversy in Washington suggests that the federal government won't be able to spend as much money if it can't keep borrowing to do so.
The dollar edged higher on Monday after the April survey of business activity in New York state rose for the first time in five months and bolstered expectations the Federal Reserve will raise interest rates in May.
(Bloomberg) -- Christine Lagarde warned that changes in the world economy induced by geopolitics pose a challenge to the European Central Bank and its peers.Most Read from BloombergFirst Republic Worked Hard to Woo Rich Clients. It Was the Bank’s UndoingBud Light Kicked a Hornet’s Nest and Ran AwayIn Morgan Stanley CEO Race, Wealth Boss Emerges as One to WatchSchwab Leaders Say Firm Can Withstand Storm After Deposit DrainA $300,000 Salary Feels Like $100,000 in The Priciest US Cities“We are witn
There is a growing chance Washington “will bumble into the first default in our nation’s history,” the Republican said.
U.S. banking heavyweights set aside billions of dollars in the first quarter to account for potential bad loans, as rising interest rates turn up the heat on borrowers who are just starting to see some relief from inflation.
Call it luck or stellar crisis management. China, one of the world’s most indebted nations, has not experienced a full-blown financial crisis, yet. There were a few close calls. In 2019, the government had to seize a regional bank, for the first time in decades, to prevent a run on deposits. Last year, a wave of real estate developer defaults ended up with homebuyers...
“It’s not just from within. There is a run on the United States from certain nations and business interests around the world. Just like there was a run on banks after the collapse of Silicon Valley Bank, many nations are either thinking about — or actually proceeding with — transferring at least a portion of their allegiance, assets and commitments from the ‘Bank of the U.S.’ to the ‘Bank of China’ or elsewhere.”
Spotting trend changes is the key to economic forecasting. They don’t happen often. Most of the time, this year will be similar to last year. The pace varies but the overall trend continues… until it doesn’t.
Heritage Foundation economist Peter St Onge says China’s efforts to remove the U.S. dollar in trade would lead to ‘erosion in our national power and influence.’ He also discusses the strengthening ties between Brazil and China.
We have gone from just in time manufacturing to just in case hoarding. Or have we? If so, at what cost? And what about China?
Apr 17, 2023 - 08:25:13 PDT
Under a new utility proposal, monthly bills in California will include a fixed charge based on household income. The proposal is Marxist agenda.
What Would Happen if the Fed Caves to 4%-5% Core PCE Inflation, Gives up on 2%, as some Folks are Clamoring For?Apr 17, 2023 - 08:23:18 PDT
The economy would muddle through, but in the markets, all heck would break loose. Here’s why.
Apr 17, 2023 - 08:18:45 PDT
Note the rapid decline in office vacancies just prior to the financial crisis (often mislabeled as the subprime mortgage crisis). Then look at office vacancies after The Fed’s massive monetary experiment of setting rates to near zero and buying a ton of Treasuries, Agency MBS. etc. While San Francisco returned to pre-financial crisis levels of office vacancy, in general the office market never fully recovered.
I wish The Federal Reserve had created only tiny bubbles. But after Bernanke/Yellen’s zero interest rate policies (ZIRP) and Quantitative Sleazing (QE) for too long, we have a monstrous asset bubble in commercial real estate … that is starting to unravel as The Fed raises rates and shrinks their balance sheet.
Apr 17, 2023 - 08:15:31 PDT
Hand to mouth should be Biden’s Presidential re-election theme song. 70% Of Americans Are Financially Stressed, 58% Live Paycheck-To-Paycheck because America is living off their credit cards …
US yields have ongoing upside pressure from the debt-ceiling debate. Even if a one-year extension is achieved this year, as House Speaker Kevin McCarthy is reported to be proposing, that just creates a far greater problem in a presidential-election year.
They pile up in drawers. They’re taken or left on a whim at store counters. Vending machines and parking meters won’t accept them. And last year, they cost the US Treasury $100mn more to produce than they’re worth. Despite all this, the penny — America’s copper-plated one-cent coin — persists.
Economic sanctions imposed on Russia and other countries by the United States put the dollar's dominance at risk as targeted nations seek an alternative, Treasury Secretary Janet Yellen said today. "There is a risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said on CNN.
Some tune out bank and credit-card balances, lose track of their spending and rack up debt. Average credit-card debt rose 29% to $5,800 in March from a year earlier for millennials and increased 40% to $2,800 for Gen Z, Credit Karma said. Younger people were also more likely to have paid late fees or taken advances from their credit cards, a survey from NerdWallet found.
Could the US Face Same Retirement Riots That Are Plaguing France? Social Security’s Trust Funds?Apr 17, 2023 - 08:00:04 PDT
The US could face retirement riots like those plaguing France as Social Security's trust funds could be depleted as soon as 2033, some experts predict.