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Feb 23, 2023 - 12:20:50 PST
If yesterday had been National Creepy Crooks Day, JPMorgan Chase would have taken top honors. Bloomberg News reported on the creepy emails that former JPMorgan Chase executive Jes Staley was sending back and forth from his email account at the bank to child sex trafficker Jeffrey Epstein, as the bank was only too happy to handle 55 accounts worth hundreds of millions of dollars for Epstein.
I have known Alan Collinge of Student Loan Justice for multiple years now. He has been prompting some type of relief for those who will never be able to payback these loans or are in default.
The national debt has risen at a blistering pace over recent decades and is now higher than any era of the nation’s history—even when adjusted for inflation, population growth, and economic growth (GDP).
The West never won over as much of the world as it initially seemed. Here’s how Russia is taking advantage of a fragmented world.
Yellen Warns China of ‘Serious Consequences’ in Helping Russia Skirt US SanctionsFeb 23, 2023 - 12:07:23 PST
Speaking at a news conference ahead of a G20 financial leaders meeting in Bengaluru, India, Yellen made it clear the U.S. would crack down on any efforts to skirt the financial sanctions levied against Russia to cripple its war effort in Ukraine.
The Stock Market’s Rally Was a Head Fake and the Smart Money Now Is With the Bears: MWFeb 23, 2023 - 12:05:18 PST
S&P 500's support is at 3900, then 3760 -- the December 2022 low, writes Lawrence McMillan.
While Americans are preoccupied with balloons and other stories that are mostly for show, more serious thinkers are applying themselves to oil, natural gas, gold, the dollar, technology and other geoeconomic benchmarks.
Mortgage rates continued their steep climb this week, surging closer to 7%, and forcing more would-be buyers back to the sidelines.
Jamie Dimon Says the Federal Reserve Has ‘Lost a Little Bit of Control of Inflation'Feb 23, 2023 - 11:49:08 PST
Dimon himself said he expects that interest rates could "possibly" remain higher for longer, as it may take the central bank "a while" to get to its goal of 2% inflation.
Feb 23, 2023 - 11:42:43 PST
Bull steepenings in the yield curve are generally seen as a precursor to a recession, but they are often preceded by bear steepenings. The 3m30y curve is currently bear steepening, indicating a recession could begin as early as the summer. In fact, the 3m30y curve is now inverted at -94.628 basis points pointing to a recession in summer 2023.
Feb 23, 2023 - 11:40:21 PST
Yesterday, we saw The Federal Reserve release the minutes of the last meeting. In a nutshell, The Fed is going to keep raising rates. The terminal Fed Funds target rates is now 5.363% for the July FOMC (Fed Open Market Committee) meeting in 2023.…
It's a massive crisis created by the government, perpetuated by the government. Michael Boldin explains in this video.
Feb 23, 2023 - 07:48:58 PST
First, there are all of the issues that remain after the pandemic devastated the economy. Farmers cut back on food production to keep afloat, and now the laws of supply and demand mean that the same butter costs 31% more than it did a year ago.
Feb 23, 2023 - 07:45:40 PST
This informative video about central bank digital currency (CBDC) reveals that Nigerians are rioting over CBDC being forced on them by the central bank that declared that old banknotes are no longer legal tender as the bank puts the squeeze on cash. While only .5% of Nigerians use CBDC, over 50% use cryptocurrency.
Republican Senators Push Back Against Accord Giving WHO Power Over US Pandemic ResponseFeb 23, 2023 - 07:41:48 PST
The draft accord, which would be “legally binding” on all 194 member nations, gives the WHO the authority to declare pandemics and submits member countries to “the central role of the WHO as the directing and coordinating authority on international health work,” in areas like lockdowns, treatments, medical supply chains, surveillance, and “disinformation and false news,” once a pandemic is declared.
The extreme “tail” risk ahead may be disorienting. While nothing in our discipline relies on valuations to retreat anywhere near their historical norms, we view a market loss on the order of -60% as likely. The February comment examines profit margins, interest rates, monetary policy, growth, and the composition of the S&P 500. All of these have been used as ways to “justify”...
The Federal Reserve has been raising benchmark borrowing rates at the fastest pace in decades, but the interest rate paid out to millions of people with bank accounts is still stuck at almost zero. According to data from Bankrate, the average interest rate on savings accounts is just 0.23%. So what's going on?
Everyone — not just the highest earners — will need to ante up more if we want to pay for all the new government Democrats envision.
Automakers are slashing prices to help clear out inventory as high interest rates continue to weigh on the industry.
A recent survey pointed out what we’ve been saying all along – groceries prices are hard to handle, and quality food has become a luxury that few can afford. The survey was sponsored by Lean and Fresh, a food delivery service, which sought a case study on how inflation was affecting American diets. The survey respondents weren’t the people you might expect to be...