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The actual total is probably higher according to the Government Accountability Office's new report.
House Democrats finally obtained former president Donald Trump’s tax returns and promptly released them to the public. No one should have his tax returns released: not presidents, not politicians, not celebrities, not sports figures, not cab drivers. Released was nearly 6,000 pages of six years of individual and business income…
Jan 18, 2023 - 10:48:32 PST
Economists are still struggling to understand inflation. What is it about that chart they fail to understand?
Jan 18, 2023 - 10:47:29 PST
Soft landing for the US economy? It is looking less and less likely. The bond market (10-year Treasury yield) just shed -14.1 basis points. As I always told my investments students, any 10 basis po…
Jan 18, 2023 - 10:45:57 PST
Steve Hanke and John Greenwood are professors at Johns Hopkins University. The highly prestigious school is based in Baltimore, and its location is mentioned simply because it’s relevant to this opinion piece. More on that in a bit.
Earlier this month, former NY Fed repo guru Zoltan Pozsar wrote one of his most important reports of 2022, in which he described how Putin could unleash hell on the Western financial system by demanding that instead of dollars, Russian oil exporters are paid in gold, effectively pegging oil to gold and launching Petrogold.
Prices Will Keep Rising Despite 'Peak Inflation' Chatter, Warns Unilever CEOJan 18, 2023 - 10:42:35 PST
Unilever CEO Alan Jope has warned of the possibility of persistently high prices in the near future even if inflation levels out, adding that soaring costs have not yet reached their peak.
Microsoft CEO Satya Nadella wrote in a blog post that he plans to cut 10,000 jobs, or about 5% of its workforce, through the end of the year.
Speculation is mounting that the Bank of Japan is losing control of the bond market. Jim Grant, editor of «Grant’s Interest Rate Observer», believes this could trigger a shock to the global financial system. He also explains why he expects further surges in inflation and why gold should be part of your portfolio.
The world is in debt. A record amount of debt. Three hundred trillion dollars, to be exact.
That’s the total amount that governments, households and corporations around the world owed in June 2022, as estimated by the Institute of International Finance.
If you thought the 2008 financial crisis was bad, wait until Washington has to stop borrowing.
The Most Splendid Housing Bubbles in Canada, January Update: Prices Plunged, Housing Bust Gets RealJan 18, 2023 - 07:43:05 PST
He who panicked first, panicked best? Some charts are just kind of funny.
Hangover Time for Used-Vehicle Dealers. For Buyers, Patience Will Pay OffJan 18, 2023 - 07:42:01 PST
Cutting prices on dropping unit sales causes revenues to plunge.
Lights! Action! Reset! The World Economic Forum (WEF)’s Davos Freak Show is back in business on Monday. The mainstream media of the collective West, in unison, will be spinning non-stop, for a week, all the “news” that are fit to print to extol new declinations of The Great Reset, re-baptized The Great Narrative, but actually framed as a benign offer by “stakeholder capitalism”. These are the main planks of the shady platform of a shady NGO registered in Cologny, a tony Geneva suburb.
This is an absolutely brilliant speech by British satirist, Konstantine Kisin.
Jan 18, 2023 - 07:32:59 PST
This week, 2,658 of the “world’s decision-makers” will gather in Davos, Switzerland for the annual meeting of the World Economic Forum. Protected by thousands of police officers and soldiers, the elite of the world will feast and party throughout the week as they shape the global agenda for the coming year. Needless to say, our input is not desired or welcomed. In order to get into this...
"The four most recent decades of evidence support the claim that Thomas Jefferson made twenty-two decades ago: societies achieve the best outcomes when their governments prevent people from harming each other, but otherwise leave them alone." ~ Antony Davies
Jan 18, 2023 - 07:17:15 PST
Mortgage applications increased 27.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2023. But mortgage applications are 60% lower than the same week last year.
Michael Hsu, acting Comptroller of the Currency, said that the size and complexity, not weak management, of some banks can make them too big to manage.
State lawmakers are set to introduce bills this week that would test an unprecedented form of taxing the rich in several states where billionaires live.