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"We enter the Age of Decline and find ourselves victims of our own success. History tells us that impoverished societies die by war and famine. Now we are learning that prosperous societies die by attrition." ~ Antony Davies
Janet Yellen: ‘You Don’t Have a Recession’ With Unemployment at 50-Year LowFeb 6, 2023 - 11:56:54 PST
Treasury Secretary Janet Yellen on Monday said she sees a path in which the U.S. economy avoids a recession, citing a slow-but-steady decline in inflation, strong job growth and a historically low unemployment rate.
Economist Who Called 2008 Housing Crash Predicts Another 15% Drop in Home PricesFeb 6, 2023 - 11:55:20 PST
Home prices have a way to go before they hit bottom, economist argues...
Feb 6, 2023 - 11:47:10 PST
Note that interest on the national debt either stabilizes or drops during recession. This happens because the Fed slashes interest rates and holds them too low, too long, creating the next bubble that it eventually must react to.
As predicted, the EU strikes back against Biden's illegal under WTO rules Inflation Reduction Act.
Feb 6, 2023 - 11:44:28 PST
Since the pre-Covid pandemic New York State has lost 267,000 jobs. Illinois, Pennsylvania, Michigan, and Ohio are also job losers. Big gainers, in order, include Texas, Florida, North Carolina, and Georgia.
There are many excuses often used to explain inflation. However, the fact is that there is no such thing as “cost push inflation” or “commodity inflation.” Inflation is not an increase in prices, it is the destruction of the purchasing power of the currency.
2022 was a rough year for investors: Between inflation, falling stock prices, and the crypto crash, it was hard to find a safe haven. All of that economic turmoil had a lot of investors looking at one of the most ancient places to store wealth: gold.
And Now Food Deflation? US Food Giant Tyson Tumbles On Falling Beef, Chicken Prices, Sliding Pork DemandFeb 6, 2023 - 08:52:50 PST
The largest US meat company, Tyson Foods, badly missed Wall Street estimates for quarterly profit on Monday and cut its expectations for operating margins this year in the face of falling - yes falling - beef prices, easing demand for pork, and an ongoing crash in chicken prices as a result of overproduction.
Feb 6, 2023 - 08:10:40 PST
The war in Ukraine is not just about Ukraine and Russia with the U.S. and NATO acting as seemingly benevolent supporters of Ukraine, as the Western media portray.
Feb 6, 2023 - 07:51:53 PST
The U.S. dollar has been the predominant global reserve currency since the design of the Bretton Woods system after the second world war. Even the move from fixed exchange rates in the early 1970s did not challenge the greenback's "exorbitant privilege."
The price of gold stopped just short of hitting $1,960 an ounce on Thursday, its highest level since April 2022, before plunging below $1,900 on Friday following a stronger-than-expected U.S. jobs report, indicating that the current rate hike cycle may be far from over.
Cut the Price by 20% and They Will Come: Homebuilder Meritage Explains New Era after Sales Orders Collapse by 46%Feb 6, 2023 - 07:42:06 PST
Cutting construction costs by “aggressively rebidding” projects, and “walking away” from land deals: executives in their own words.
If you have been net long for this rally, congrats! But think about where things are headed as the Fed Commits to More Rate Hikes.
Feb 6, 2023 - 07:37:06 PST
Last week’s strange jobs report (massive discrepancy between the Establishment and Household data) did push expectations of further Fed rate hikes up. In fact, the US Treasury 10-year yield is up 10 basis points this morning.c
The combination of high prices and the end of pandemic relief programs ate into household savings.
Gold prices rebounded on Monday after tumbling to their lowest level in three weeks following Friday's surprising strong jobs report, which helped send...
Gold Giant Newmont’s $16.9 Billion Bid for Australia’s Newcrest Clouded by Deal DoubtsFeb 6, 2023 - 05:51:24 PST
Top gold producer Newmont (NEM) Corp said it had made a $16.9 billion offer for Australian peer Newcrest (NCMGF) Mining to build a global gold behemoth, although investors and analysts said it undervalued the target amid a leadership change.
Three straight days of gains are giving hope to embattled dollar bulls who are looking to a slew of Federal Reserve speakers and rising US-China tensions to extend a nascent rebound.
Polls Show Record Number Of Americans Worse Off Financially Since Biden Took OfficeFeb 6, 2023 - 05:45:47 PST
n other words, Biden has been trying to take credit for the recovery of jobs he originally helped to destroy. Many Democrat run states are still lagging and a return to financial stability has been difficult. Other concerns surround the manner in which labor data is being calculated. Only last year the Philly Fed had to revise and refute White House labor gains and cut over 1 million jobs from their stats in the process. That kind of discrepancy is not normal.