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Money Supply shrunk last month by $129B, the largest monthly fall ever going back to 1959. April and June also set records at the time from a gross change perspective. From a percentage amount, Feb. 1970 had been the largest contraction ever (-6.5% annualized), but the current month beat that number at -6.9% annualized.
Inflation is squeezing American budgets to the breaking point.According to a LendingClub survey, the number of Americans living paycheck to paycheck is nearing record levels.
Economist Nouriel Roubini says Federal Reserve is going to "wimp out" on the inflation fight and that will lead to a dollar crash.Roubini is the Professor Emeritus at the Stern School of Business, New York University. He recently appeared on Bloomberg Markets and Finance to talk about threats to the global economy.Roubini predicted the housing bubble would pop in an IMF position paper in 2006. When asked if we were there again, he emphatically said, "Yes."
EXPLODING U.S. PUBLIC DEBT & INTEREST EXPENSE: How Much Did The Interest Expense Increase... A BunchOctober 26, 2022
The cost to service the U.S. public debt surged to a new all-time high due to the Federal Reserve raising interest rates. How much did the interest expense go up?? A Bunch... LOL. Also, with the U.S. debt getting ready to reach the Debt Ceiling, we will have another Political War in the coming weeks ahead...
The Great Depression, Great Inflation I, the Financial Crisis, and the unfolding Great Inflation II have all been caused and perpetuated by hyperactive Progressive government. In the past crises, holding gold would have conserved savings and provided added returns. The Great Depression came about when the Progressives’ newly-spawned Fed, having first greatly increased the...
Ronan Manly writes today that silver inventories in the London Bullion Market Association system are at a record low, having fallen for 10 months straight, and that silver inventories at the New York Commodities Exchange are at a five-year low.
The gap between futures prices and prices of real metal has become so extreme, Maguire says, that little real metal is available at the futures price and the New York Commodities Exchange is quickly being drained of real metal.
Oct 25, 2022 - 13:08:33 PDT
The Central of Bank of Egypt is working on a new index consisting of gold and foreign currencies aside from the US dollar. The bank’s acting head, Hassan Abdalla, revealed the plan Sunday at an economic conference in the country, the state-owned Al-Ahram reported.
For sterling investors holding (unhedged) Gold exposure in their portfolios has preserved value relative to a declining fiat currency, as well as providing a source of “true diversification” owing to its uncorrelated relationship with both equities and bonds.
The State of Central Bank Digital Currences
Indebted lower-income countries find their fates and finances caught between two titans.
Americans have as little optimism as they have had at any point in nearly three decades about young people's ability to have a better life than their parents. Republicans are mostly responsible for the decline.
Oct 25, 2022 - 12:18:24 PDT
Biden’s policies are making Halloween and Thanksgiving MUCH more expensive. The latest inflation figures released by the federal government show that the price of candy and chewing gum rose by 13.1% last month — the biggest jump ever recorded. And turkey prices are up a whopping 73%!
The Most Splendid Housing Bubbles in America: Biggest Price Drops since Housing Bust 1. Record Plunge in Seattle (-3.9%), Ne...Oct 25, 2022 - 12:16:45 PDT
Big drops in San Diego, Los Angeles, Dallas, Portland, Phoenix, Boston. Prices going down faster than they’d spiked? No way. Oops.
As the MBA meets in Nashville, many IMBs will be looking for buyers or wondering whether to turn off the lights entirely and go home, writes the Chairman of Whalen Global Advisors.
Oct 25, 2022 - 12:07:45 PDT
Even if Federal Reserve Chairman Jerome Powell and his cohorts stopped hiking policy rates soon, the 30-year fixed mortgage rate still would climb to 10%, according to Christopher Whalen, chairman of Whalen Global Advisors.
With Recession And Mass Layoffs Imminent, Dems Throw Fed's Powell Under-The-Bus For "Risking Millions Of Livelihoods"Oct 25, 2022 - 12:05:06 PDT
Who could have seen this coming? In July, we saw the seeds of the Democrats plan begin to take hold as several politicians took aim at Fed Chair Jerome Powell as poll numbers started to slide and the Midterms looked like being a disaster:...
With yields tumbling all day tracking the collapse in the dollar, investors hoping to get some concession out of today's $42BN 2Y auction could kiss said hope goodbye. It may be why when all was said and done, today's sale of Cusip FQ9 maturing on Halloween 2024 with a cash coupon of 4.375%, was a bust.
Currency printing is not neutral, and it never is. It disproportionately benefits government and massively hurts real salaries and deposit savings. It is a massive transfer of wealth from savers to the indebted.
US Federal Reserve Chair Jerome Powell faces a crucial choice as the central bank battles the worst bout of inflation since the 1970s: What kind of chair will he be? A Paul Volcker, who took interest rates ever higher in an uncompromising effort to get prices under control? Or an Arthur Burns, who acted more timidly, in the ultimately futile hope that a less austere approach might be sufficient to do the job?