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In the first four months of fiscal year 2023, the budget deficit has more than doubled taking into account shifted expenses.
Biden slush fund money is now looking for a home. A battle is on over who gets to waste it.
Black Knight’s December Mortgage Report is out and the house price graphs show the west is a mess. While much of the US is down from 2022 peaks in home price. but it is The West where home prices are down the most (just like 2008 where the Inland Empire of California, Phoenix and Las Vegas crashed in term of home prices).
Feb 13, 2023 - 08:04:00 PST
The most recent tightening by the Federal Reserve has pushed the federal funds target rate above mortgage-backed securities yields for the first time in history. Though this poses clear challenges …
Feb 13, 2023 - 08:00:58 PST
M2 Money Increased By 200% Since 2007 While M2 Money Velocity Collapsed...
Investors are bracing for key inflation data next week that could worsen the bond-market rout.
U.S. households are burning through the savings buffer that they built up during the COVID-19 pandemic at an alarming pace as high inflation rages.
The U.S. government posted a $39 billion budget deficit for January after a $119 billion monthly surplus a year earlier, as revenues dipped and one-time costs, including the bailout of a union pension fund, pushed outlays sharply higher, the Treasury Department said on Friday.
"Welcome To The Endgame" - Rubino Warns "Everyone's About To Realize There's No Fix For This"Feb 13, 2023 - 07:36:55 PST
Rubino explains, “The debt spiral part of this means things from here continue to get worse and worse for the big currencies of the world until they die..."
Remember National Lampoon’s Vacation? It was a 1983 comedy film in which suburban dad Clark Griswold (Chevy Chase) takes his family on a cross-country road trip to the fabled Walley World amusement park.
There was further evidence this week that loose financial conditions are working their magic. University of Michigan Consumer Sentiment added a stronger-than-expected 1.5 points to January’s strong gain to reach 66.4, the highest reading since January 2022. Current Conditions popped four points higher to a 14-month high 72.6.
Gold prices inched lower as the dollar firmed, although traders held off on big bets as they positioned themselves for key U.S. inflation data this week.
There’s a New Inflation Warning for Consumers Coming From the Supply ChainFeb 13, 2023 - 06:00:35 PST
Inflation has dropped rapidly helping the Fed and economy, but there’s a sticky source in the supply chain related to inventory gluts and weak consumer demand.
Debt Talks Can Include Everything but Cuts to Social Security and Medicare, Republicans SayFeb 13, 2023 - 05:58:36 PST
Republicans say they would not cut Social Security and Medicare programs but "everything else is on the table" in talks over raising U.S. government borrowing limits, House Oversight Committee Chair James Comer said on Sunday.
Inflation is slowing the world over, but some of the biggest money managers say it’s no time to ditch protection against rising consumer prices.
Regulatory threats will be key for cryptos. So too will this week's release of data on U.S. consumer-price inflation.
IRS Warns Taxpayers to Hold Off Filing Returns in 20 States as Checks if It Can Tax Special RefundFeb 13, 2023 - 05:50:19 PST
Taxpayers in more than 20 states were to hold off filing their tax returns for now until the IRS irons out how the taxpayers in those specific states should report, if at all, money received from their states through special tax refunds or payments in 2022.
Credit Suisse Craters After "Staggering" Bank Run And Warning Of Continued LossesFeb 13, 2023 - 05:47:15 PST
Back in late 2022, when Credit Suisse stock cratered to never before seen levels after a series of dismal earnings reports and regulatory "missteps" sparked a staggering bank run, amounting to some $88 billion forcing the bank to seek emergency liquidity from the Fed via SNB swap lines, and which also led to a historic corporate restructuring which included the de facto closure of the bank's investment bank coupled with mass layoffs and bonus cuts, many thought that would be as bad as it gets as the (rapidly changing) management had finally thrown out the kitchen sink.
India's annual retail inflation in January rose above the central bank's upper threshold for the first time in three months, on higher food prices, vindicating last week's hawkish monetary policy stance. India's annual retail inflation rate rose to 6.52% in January from 5.72% in December, government data showed on Monday. January's retail inflation was above the Reserve Bank...
China’s central bank will probably increase the amount of cash it pumps into the money market this week to rein in funding costs.