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Ukraine's allies say they will not accept referendums in Russian-held areas; Biden to push for more aidSep 20, 2022 - 12:39:07 PDT
Ukraine's counteroffensive is continuing with efforts to liberate parts of Luhansk in the eastern Donbas region.
Sep 20, 2022 - 12:25:39 PDT
The biggest bank in the United States – by assets, by deposits, by derivatives, or by felony counts – is JPMorgan Chase. Year-to-date, through yesterday’s close, it has lost 26 percent of its market value and has been put on a leash by the Fed, unable to prop up its stock price with share buybacks, the magic alchemy that its Chairman and CEO, Jamie Dimon, has been using for years to keep his job despite an unprecedented crime spree at the bank.
The Biden administration is working on plans to herd the public into digital currency controlled by the Federal Reserve.
Most pundits and thinkers are wrong about the relationship between interest rate hikes and bond prices. We explore how the powerlessness of the Bond Vigilante shows why the bond market is different than any other market.
Sep 20, 2022 - 09:02:20 PDT
So, as the Fed and feds keep singing their siren song about how “there is no recession yet,” bear in mind that over and over again they base that almost entirely on the “strong labor market,” and it looks like they are seriously wrong in their understanding about that.
Sep 20, 2022 - 08:59:57 PDT
A release issued by the city said that the $2 million to fund the program was sourced from the American Rescue Plan Act, which was backed by President Joe Biden and Democrats. The plan, which totals nearly $2 trillion, was signed into law in March 2021.
Sep 20, 2022 - 08:57:35 PDT
If the pandemic is over, then how is the supposed emergency move justified?
New Vehicle Inventory Still Near Record Lows, with Twist: Fuel-Efficient Cars VanishSep 20, 2022 - 08:55:18 PDT
But Kia, Toyota, Honda: nearly nothing on the lot. Where the shortages are, and where ample supply is, by brand and segment.
The war in Ukraine is still going on and Russia is punishing Germany in terms of energy supply.It is almost as if the Ukraine war is the NEW Russian front for Germany. The German Producer Price Index YoY surged to 45.8% YoY.
Sep 20, 2022 - 08:50:06 PDT
The US is short on housing stock and remains short in August. While housing starts in August seems fantastic (12.8% MoM), the YoY growth in housing supply is down -0.1% as mortgage rates soar and The Fed removes monetary stimulus.
Sep 20, 2022 - 08:48:12 PDT
Having said that, US mortgage rates are now the highest since 2008 and continue to rise with the expectation of more Fed rate hikes this year. Even core inflation is on the rise motivating The Fed to do more tightening since they aren’t receiving any help from Biden on energy or Congress in terms of massive spending of our money.
The Atlanta Fed's GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is just 0.3 percent now, down from 0.5 percent on September 15, down from 1.4 percent on September 7, and down from 2.6 percent on September 1.
The Buffett Indicator is a valuation measure that compares the stock market’s capitalization to the Gross Domestic Product. A favorite of Warren Buffett, the indicator sits shy of 2.44 times market-cap to GDP. That number doesn’t mean much on its own, but it’s striking when placed in a historical context. Even after the recent fall in markets, the ratio is still one of the highest on record, north of the 2.11 level recorded during the dot-com bubble of 2000, and considerably elevated compared to the average since 1950.
What Do Fund Managers Think About Gold & Silver Right Now? They Told Me at the Beaver Creek SummitSep 20, 2022 - 07:04:41 PDT
I attended the Precious Metals Summit in Beaver Creek, Colorado last week. This is where the big boys and girls go—fund managers, institutional investors, bank analysts, top geologists, and CEOs of hundreds of mining companies (not just their investor relations people).It’s not your normal investment conference. There are presentations from companies and industry leaders, but it’s mostly one-on-one meetings with companies. I actually had to apply and be interviewed before I was accepted to attend. This is not really designed for the retail investor.
No matter how noble its stated intentions, the "Great Reset" is at its heart a program for driving political power away from individual citizens and toward the controlling interests of a small international class of financial elites.... For citizens to reclaim power, they must not only embrace the basics of free markets once again but also rekindle a fondness for questioning the motivations of political authorities.
Warning that the world is in “great peril,” the head of the United Nations says leaders meeting in person for the first time in three years must tackle conflicts and climate catastrophes, increasing poverty and inequality — and address divisions among major powers that have gotten worse since Russia invaded Ukraine.
Food Supply Stays Tight as Disappointing U.S. Harvest Adds to Global Challenges: WSJSep 20, 2022 - 06:00:50 PDT
Mexican chili peppers used in sriracha. Italian risotto rice. U.S. corn that is used widely. Extreme droughts worldwide are hitting crop yields, and that could mean higher prices for staples this winter.
(Bloomberg) -- Federal Reserve officials are about to put numbers on the “pain” they’ve been warning of in recent weeks when they publish new projections for the economy, which could show a substantial rise in interest rates and unemployment ahead as the estimated price tag for reducing inflation.
Sep 20, 2022 - 05:55:51 PDT
"Home builder confidence declined for the ninth straight month in September, according to the NAHB/@WellsFargo Housing Market Index (HMI). This month's reading of 46 is the lowest since 2014 (excepting the COVID crash)."
Home Builders Cut Prices, Pile on Incentives, amid Plunging Traffic of Buyers, Spiking CancellationsSep 20, 2022 - 05:52:35 PDT
To prop up sales, 24% of home builders cut prices, others tried mortgage-rate buydowns or other incentives.