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U.S. stock futures reversed earlier gains on Wednesday after a new report from the Wall Street Journal suggested another 0.75% interest rate increase from the Federal Reserve is likely later this month.
Americans have been laboring under the burden of inflation for well over a year. We feel the pain everywhere, from the gas pump to the grocery store. Once it became impossible to sell the "inflation is transitory" narrative any longer, the Federal Reserve began raising interest rates to fight inflation. As a result, the bubble economy is getting shaky. But even some people at the Fed seem to realize this is a fight they can't win.In a talk at the Ron Paul Institute, Mises Institute president Jeff Deist called inflation "state-sponsored terrorism."
Inflation Alert! The US Government Is Still Handing Out COVID Money and It Wants MoreSeptember 7, 2022
Did you know the Biden administration is still handing out COVID-19 stimulus money?In fact, there are still billions of dollars in pandemic aid sitting in various federal and state government accounts waiting to be handed out.
CRITICAL SILVER MARKET FACTORS: Tremendous Amount Of Silver, Not Gold, Leaving London & Why Market Is Setting Up For Hi...September 7, 2022
The dynamics in the Silver Market continue to get more interesting each passing day. One fascinating development is the tremendous amount of silver metal leaving London while gold inventories haven't declined all that much. Where is the metal going? I provide the details in this Strategic Report...
Eurasian Alliance Plans A Moscow World Standard To Destroy LBMA's Monopoly In Precious Metals PricingSep 6, 2022 - 13:08:00 PDT
Towards the end of July, news emerged in the Russian media that Moscow and a number of its Eurasian allies are now reviewing a proposal to create an entirely new trading and pricing infrastructure for the international precious metals in order to both destroy London and New York’s monopoly over global precious metals pricing, and to stabilize the Russian gold market.
The U.S. housing market has likely tumbled into its first recession in more than a decade, and Goldman Sachs economists warned that investors should brace for the downturn to get worse.
Janet Yellen To Make Climate Change a Cornerstone of Economic Speech in DetroitSep 6, 2022 - 13:01:36 PDT
The legislation, signed by President Biden Aug. 16, raises an estimated $739 billion over the next decade, with about half of the money going toward programs to fight climate change and reduce health care costs and the remaining half going toward paying down the $30 trillion national debt.
Sep 6, 2022 - 12:57:31 PDT
The divergence between ISM and S&P strengthens. It's even more confusing because both use the term PMI. Let's also discuss "Recession Denial".
Per Bylund’s new book How to Think about the Economy: A Primer is now available online, in the Mises Store, and at Amazon.
By How Much Can the Fed Reduce its Assets with QT? Fed’s Liabilities set a FloorSep 6, 2022 - 12:02:01 PDT
The Fed’s big liabilities: reserves, US paper dollars, RRPs, and the US government checking account. Reserves already plunged by $1.03 trillion.
Sep 6, 2022 - 11:58:52 PDT
There are usually slight differences between GDP and GDI but the fluctuations are normally random.
The outcome of the midterm election puts in play a huge stagflation risk if Democrats hold the House.
When the Fed counterfeits dollars, creating an artificial economic boom, a recession is inevitable and unavoidable. Recessions are a return to economic reality; the antidote for The Fed's poison. While recessions are unavoidable, depressions can be avoided. Depressions occur when the government interferes and tries to prevent a return to economic reality. Government implements "policies" that are meant to "help," but only end up extending the economic misery into a depression.
China is beset by three distressing Ds: debt, disease and drought. They belie a slowdown that is not raising sufficient alarm bells among investors and policymakers. China remains heavily integrated into the global supply chain and is a potential driver of global demand as one of the biggest markets for foreign goods and services.
Sep 6, 2022 - 10:59:29 PDT
The US Composite PMI was released this morning and it printed at 44.6. Not surprising given that M2 Money growth has slowed as The Fed removes its monetary punch bowl.
The US Economy Is Still Being Artificially Supported By Trillions In COVID Stimulus Sep 6, 2022 - 10:56:36 PDT
Last week Joe Biden announced that $1 billion in federal grants would be generated for manufacturing, clean energy, farming, biotech and other industries in 21 regional partnerships across the US. The money is part of a $1.9 trillion covid relief package that was instituted way back in March of 2021. That's right, if you thought the covid funds were gone for good, you were mistaken. While certain elements of the original covid stimulus packages have dried up, there are still vast sums of fiat dollars being held in the coffers of various federal and state programs.
Central Bank Digital Currencies and Biden’s Most Enduring Legacy?: RickardsSep 6, 2022 - 09:08:26 PDT
Central bank digital currencies (CBDCs) are coming fast, and you need to be prepared for them because they’ll mark a major victory in the war against cash — and against your personal privacy.
If the Elliott wave model has any justification, which we of course think it does, this chart strongly suggests that U.S. home prices are starting a period of disinflation at the very least. Given the outlook for asset prices in general, we would not be surprised at all if U.S. property prices exhibits deflation in the future.
The Biden administration is risking the economic stability of China, the West, emerging Asia, and the futures of the Global South.
The Federal Reserve was no doubt troubled by July’s decline in the US unemployment rate to 4.5 percent and increase in job openings to 11.2 million. This is because the Fed’s strategy for reducing the historic price inflation now plaguing the economy — caused by the Fed’s unprecedented low or zero interest rate policies — is to increase unemployment in order to decrease consumer spending.