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Real Wage Growth Falls for the Twentieth Month as Biden Celebrates Seven-Percent InflationDec 14, 2022 - 12:27:31 PST
The federal government’s Bureau of Labor Statistics released new price inflation data today, and according to the report, price inflation during the month decelerated slightly, coming in at the lowest year-over-year increase in 12 months.
The narrative to attack any tax cut and defend any increase in government size is reaching feverish levels.
Dec 14, 2022 - 12:18:34 PST
Prosecutors announced a $2 billion forfeiture as part of a plea deal Danske Bank for illegally letting foreign actors funnel money through their Estonian branch, allowing unlawful access to the US financial system.
Over the last few months, we have written several articles outlining our views of banks in general. We explained the relationship that you, as a depositor, have with your bank is in line with a debtor/creditor relationship. This places you in a precarious position should the bank encounter financial or liquidity issues. Moreover, we also outlined why reliance on the FDIC may not be wholly advisable. And, finally, we explained that the next time there's a financial meltdown, your deposits may be turned into equity to assist the bank in reorganizing.
It’s no secret that phone calls, text messages, emails and websites are a minefield of frauds and scams — yet millions of Americans are victimized every year, and the numbers keep rising. In 2021 alone, nearly 2.8 million people filed fraud complaints with the Federal Trade Commission, CNBC reported. That was up 70% from the previous year and a new annual record.
Dec 14, 2022 - 12:08:16 PST
A U.S. Senate committee report uncovered thousands of cases of peer-to-peer platform Zelle's customers being deceived into making fraudulent payments. As Zelle’s consortium of bank owners refuses to share financial data with Congress or compensate victims, questions about the efficacy of laws regulating electronic fund transfers persist.
Dec 14, 2022 - 12:06:06 PST
“AIER’s Leading Indicators Index came in at 29 in November, the sixth consecutive month below the neutral 50 threshold. The low readings are consistent with economic weakness and significantly elevated risks for the outlook.” ~ Robert Hughes
Dec 14, 2022 - 11:59:27 PST
Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures.
The Fed Projects Raising Rates as High as 5.1% Before Ending Inflation BattleDec 14, 2022 - 11:38:07 PST
The Federal Reserve will hike interest rates as high as 5.1% in 2023 before the central bank ends its fight against runaway inflation.
FOMC Hikes By 50bps, Hawkishly Signals Rates Will Go Higher-For-Longer: ZHDec 14, 2022 - 11:06:54 PST
Since the November 2nd (dovish) FOMC statement and (hawkish) press conference chaos, gold and bonds have dramatically outperformed, stock have rallied as the dollar and crypto tumbled...
This is breaking news. Please check back here for updates.
Real-Time Updates of the Federal Reserve’s Big Rate Decision and Powell’s Press Conference: VideoDec 14, 2022 - 11:00:18 PST
Fed raises rates by 50 basis points, as expected. In its final meeting of 2022, the Federal Reserve hiked rates by 50 basis points, or half a percentage point. The move was widely expected by economists and investors. The move brings the fed funds rate to a range of 4.25%-4.5%.
Here's a quick look at the multiple variables that will come into play when this week's Fed meeting concludes Wednesday.
Dec 14, 2022 - 08:49:42 PST
Apparently, despite the denials from the Biden Administration, someone at Bureau of Labor Statistics or someone in Congress or the Federal Reserve or the Biden Admininstration itself likely tipped the wink on the soft CPI report on Tuesday.
It's not just Academy strategist Peter Tchir who bucks the prevailing consensus of at least two more rate hikes in 2023, and expects that today's 50bps rate hike will be last one by the Fed: Bloomberg strategist Simon White is also in this contrarian camp, and here's why - looking at historical data back to 1972, White finds that the last Fed hike takes place, in average terms, about 22 weeks after the peak in CPI. With the peak CPI in this cycle hitting in June, about 22/23 weeks ago, that would put the last Fed hike of the cycle at today’s meeting.
“Mass surveillance is the Deep State’s version of a “gift” that keeps on giving…back to the Deep State. Geofencing dragnets. Fusion centers. Smart devices. Behavioral threat assessments. Terror watch lists. Facial recognition. Snitch tip lines. Biometric scanners. Pre-crime. DNA databases. Data mining. Precognitive technology. Contact tracing apps.
The Federal Reserve is sowing the seeds for its central bank digital currency (CBDC). It may seem that the purpose of a CBDC is to facilitate transactions and enhance economic activity, but CBDCs are mainly about more government control over individuals. If a CBDC were implemented, the central bank would have access to all transactions in addition...
Dec 14, 2022 - 07:51:20 PST
VLADIMIR Putin has renewed his nuke threat against the West by appearing to ready a nuclear missile for launch. Footage shows a huge Russian Yars rocket able to hit the UK and the US being loaded into a silo at a base near Moscow.
China accused Washington on Wednesday of using subsidies to prop up national industries and refusing to abide by the rules of the World Trade Organization.
Visualizing The Amount Of US Taxpayer Dollars Flowing To Ukraine In 2022Dec 14, 2022 - 07:46:49 PST
In the visual which over the last several days has been shared widely - each dot represents $100,000 in US taxpayer dollars, and is broken up according to type of support, with military aid (in red) being the largest expenditure by far...