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America’s $7 Trillion Retirement Crisis Is Only Getting Worse: BloombergAug 31, 2022 - 05:53:27 PDT
Economic turmoil took a toll on savings in the first half of 2022 and that’s just the tip of the iceberg as many in the US lack employer-sponsored plans.
Disappointing ADP Jobs Report Suggests Labor Market At "Inflection Point"Aug 31, 2022 - 05:44:10 PDT
Having abandoned its model in May - after months of optically systemically underpredicting the BLS payrolls print...
Aug 31, 2022 - 05:35:50 PDT
For the first time ever, the median rent in the U.S. topped $2,000 a month in June — and the increases show no sign of stopping. Those rising rents mean that households representing a total of 8.5 million people were behind on their rent at the end of August, according to Census Bureau figures.
Bed Bath & Beyond Announces Store Closures, Layoffs, Financing in Push To Fix Struggling BusinessAug 31, 2022 - 05:33:09 PDT
The struggling retailer announced announced the new financing ahead of an investor update early Wednesday.
The Housing Recession Will Continue and Eventually Flatten House Prices, Goldman Sachs: MWAug 31, 2022 - 05:26:26 PDT
Goldman Sachs economist Ronnie Walker said housing starts have dropped 20% from their peak and existing home sales have skidded by 30%.
Mortgage Demand Falls Even Further, As Rates Shoot Back Up to July HighsAug 31, 2022 - 05:23:52 PDT
After falling earlier this month, mortgage rates began rising again to the highest level since mid-July. That caused mortgage demand to pull back even further.
As we round out August in the COMEX, gold delivery was strong and silver was dominated by the odd mechanizations of Bank of America.
Fed Paper Admits the Central Bank Can't Control Inflation; Finger-Points at Federal GovernmentAugust 31, 2022
It appears somebody at the Federal Reserve has figured out that the central bank can't tame inflation, so it's setting up a scapegoat - Uncle Sam.A paper co-authored by Leonardo Melosi of the Federal Reserve Bank of Chicago and John Hopkins University economist Francesco Bianchi and published by the Kansas City Federal Reserve argues that central bank monetary policy alone can't control inflation.
The economy is fine, so we're told. There is no recession, so we're told. The Federal Reserve has everything under control, so we're told. Meanwhile, 3.8 million Americans say they could face eviction in the next two months.It doesn't sound like everything is fine.
You can tell how BROKEN the markets are today when Institutions and retail investors are liquidating precious metals at the very time they should be acquiring more gold and silver... LOL. Why? Certain indicators show something is getting pretty serious in the Silver Market...
Join Mike Maloney and Adam Taggart in today’s extended video update, focusing on what could be coming next for the global economy. Will we see more price controls? What will the result be? Will the dollar continue to rise against other fiat currencies? What about about gold and silver?
Sabine Schels, the senior commodities strategist at Goldman Sachs, sees the positive risk reward for commodities at current levels.
Professor Steve Hanke Says We’re Going To Have One ‘Whopper’ of a Recession in 2023Aug 30, 2022 - 13:04:02 PDT
"The problem we have is that the [Fed Chair Jerome Powell] does not understand ... what the causes of inflation are and were," said the Johns Hopkins professor.
China’s house prices are falling as Beijing reins in sector, raising fears for economic growth at home and globally.
Aug 30, 2022 - 12:34:44 PDT
Today, the nonpartisan Congressional Budget Office (CBO) released its Long-Term Budget Outlook, which offers a look at the nation’s fiscal health through 2052. The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
The 2022 housing crash certainly has the potential to be worse than 2008 if we're talking about the housing market itself. There's much less of a chance that this housing downturn morphs into a global banking crisis. The nonfinancial shadow banking sector? That's a story for another day…
Aug 30, 2022 - 12:17:01 PDT
US home price growth is decelerating as The Federal Reserve let’s some of the air out of the monetary tires.
Aug 30, 2022 - 12:12:26 PDT
Our national index rose by 0.5 percent over the course of August, half the rate of growth compared to last month. This marks a deceleration of the rental market that follows a typical, pre-pandemic trend.
The List Grows: China, Russia, India, Syria & Others To Link Up Next Month for Major War Games: MWAug 30, 2022 - 11:13:49 PDT
The Russian Defense Ministry said that the Vostok 2022 (East 2022) exercise will be held Sept. 1-7 in various locations in Russia’s Far East and the Sea of Japan and involve more than 50,000 troops, over 5,000 weapons units, including 140 aircraft and 60 warships.
Aug 30, 2022 - 11:06:33 PDT
As Congressional delegations line up to be more provocative toward China while visiting Taiwan, President Biden has announced that he would like to sell $1.1 billion in new weapons to Taiwan. China is not amused. What could go wrong?