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"The Biden Administration granted itself three more months to prolong and extend the ratchet effect to secure more power and less freedom. Tragically, the longer government extends the crisis, the less likely they are to relinquish control."
There was a time when a large portion of Americans belonged to the “middle class.” It meant you could afford a decent living standard, such as owning a house and a car and had savings in the bank. When “baby boomers” reminisce about the “good ole days,” they are referring to when being middle-class was normal.
A year ago, a bag of potato chips at the grocery store cost an average of $5.05. These days, that bag costs $6.05. A dozen eggs that could have been picked up for $1.83 now average $2.90. A two-liter bottle of soda that cost $1.78 will now set you back $2.17. Something else is also much higher: corporate profits.
In the spring of 1980, Paul Volcker did engineer a mini-recession but it didn’t put a dent in the inflation momentum. As shown below by the purple line, real GDP peaked in Q1 1980 and then declined thru Q3 1980 during Volcker’s mini-recession. Real GDP versus Core PPI, Q4 1979 to Q4 1980. During that two-quarter interval of “shallow and short,” real GDP contracted by just 2.2%.
Nov 1, 2022 - 07:42:55 PDT
A simulation of a theory based catastrophe of global bankers collapsing the financial system was conducted fairly recently. There was a striking similarity between this event and the infamous “Event 201” that was held in late 2019. Last month, high-ranking international banking representatives and organizations convened in Israel for a worldwide “war game” simulation...
Desperate Democratic Lawmakers Lambast "Aggressive" Fed's "Apparent Disregard For Livelihoods Of Millions Of Americans"Nov 1, 2022 - 07:25:14 PDT
In early September, we warned that The Fed's actions mean millions of Americans are about to lose their jobs... and Democratic lawmakers will not just quietly sit by:..
The 3-Month T-Bill yield hit 4.22% early this morning. At that time the 3-Month to 30-Year inversion was about 9 basis points.
Although Apartment List uses repeat rents of the same or similar unit and prices are are actual prices, not asking prices, it only shows new leases, not repeat leases.
Nov 1, 2022 - 07:16:21 PDT
US 30-year mortgage rates are above 7% as The Federal Reserve slowly withdraws its Covid-related monetary stimulus and attempt to combat near 40-year highs in inflation under Biden (aka, Bidenflati…
Manufacturing Surveys Signal Slowdown Continues; New Orders, Prices PlungeNov 1, 2022 - 07:10:56 PDT
Despite better-than-expected US macro data in the last few weeks, the 'soft' survey data on the Manufacturing side of the economy has been rapidly losing momentum.
Central banks bought a record amount of gold last quarter as they diversified foreign-currency reserves, with a large chunk of the purchases coming from as-yet unknown buyers.
Gold futures rose Tuesday, kicking off November with a bounce after posting a seventh straight monthly loss in November. Gold for December delivery (GC00) (GCZ22) rose $16, or 1%, to $1,656.70 an ounce on Comex. Gold has been pressured this year as the Federal Reserve has aggressively raised interest rates in its bid to squelch inflation, driving up Treasury yields and...
Federal Reserve officials worry that rising wages will lock the economy into a high-inflation regime. But how great is the risk of that happening?
The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased, ECB President Christine Lagarde said in an interview published on Tuesday.
Japan's currency interventions have been stealth operations in order to maximise the effects of its forays into the market, Finance Minister Shunichi Suzuki said on Tuesday, after the government spent a record $43 billion supporting the yen last month.
More Than a Third of US Small Businesses Couldn’t Pay All Their Rent in OctoberNov 1, 2022 - 05:44:38 PDT
Rent delinquency rates among US small businesses increased significantly this month, a new report shows
Homebuilders Say They’re on the Edge of a Steeper Downturn As Buyers Pull BackNov 1, 2022 - 05:42:56 PDT
Homebuilders say 2023 is going to bring an even sharper downturn in the market, as high interest rates scare away buyers.
Biden Threatens Higher Taxes on Oil Companies if They Do Not Work To Lower Gas PricesNov 1, 2022 - 05:41:42 PDT
Biden has criticized oil companies that have made record-high profits as consumers struggle to keep up with high gas prices. The price of a gallon of gas was $3.76 on Monday, according to AAA, down from a record of over $5 in June but still higher than a year ago.
U.K.'s brittle financial markets face another test Tuesday when the Bank of England starts selling bonds. The BOE begins the first of eight auctions, with the last scheduled sale in that rotation set for Dec. 8. The sales comes weeks after the bank was forced to delay the program and instead buy long-dated U.K. government bonds to stop a fire sale among pension funds.
The Bank of England on Tuesday is set to become the first major central bank to sell off assets accumulated during a 13-year-old stimulus program, providing a test case for how quickly markets can shift away from easy-money policies.