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Taiwan's defense ministry has issued new details of the live fire incident with a Chinese drone which happened near Taiwan-controlled islands reportedly in the Dadan, Erdan and Shiyu areas.
$2,000 'Inflation'-Stimulus Payments Should Be Sent Out: Pennsylvania GovernorAug 30, 2022 - 11:01:48 PDT
The governor of Pennsylvania on Monday called on the state legislature to provide $2,000 in stimulus payments for some families to “survive inflation,” although such programs have been flagged by critics as contributing to price pressures.
Student Loan Forgiveness May Result In A State Tax Bill In Over A Dozen StatesAug 30, 2022 - 11:00:09 PDT
Those excited about the forthcoming student loan forgiveness are now finding out that they may wind up getting hit with a state tax bill on forgiven loans.
World stocks tumbled again on Tuesday amid concerns about the chance of more interest rate hikes in Europe and the United States, after data showed economic growth and inflation have stayed resilient in both regions despite the policy tightening so far. Two-year U.S. Treasuries scaled a new high not seen since 2007 after data showed on Tuesday that U.S. job openings...
With the USD losing influence, it would be the understatement of the year to say that we live in interesting times, for we certainly do. But despite the inevitable attacks of appearing sensational, un-American or just plain cynical, I feel a more appropriate phrase boils down to this: “We live in dishonest times.” Below, I bluntly address the “Fed pivot debate,” the “inflation debate” and...
Rising inflation is driving an increase in credit card debt. Plus, new research finds consumers may underestimate the change in their credit habits.
Jay “the inflation we caused is transitory” Powell finally did it. On Friday, the Fed Chair finally mustered the courage to say that he is going to do the job he has been hired to do: the Fed will not “pivot” to cut interest rates until inflation slows meaningfully and persistently — even if the stock, bond and housing bear markets become much worse and the economy goes into...
Deep-Subprime & Subprime Auto Loans Miraculously Cleaned up by Credit-Score InflationAug 30, 2022 - 08:09:19 PDT
Credit-score inflation throws a monkey wrench into the calculus of credit risk.
Job Openings Unexpectedly Surge To Two For Every Unemployed Worker, Crashing Fed's PlansAug 30, 2022 - 07:50:47 PDT
Bottom line: after three months of much needed drops in job openings, July saw a bizarre, unexplained reversal, one which pushed the ratio of job openings to unemployed workers near the highest on record. Meanwhile, even as job openings increased, both Hires and Quits continued to deteriorate, extending the ongoing weakness in the labor market. Long story short...
Aug 30, 2022 - 07:32:39 PDT
Ukraine is consistently ranked as one of the most corrupt governments in all of Europe. Given that reality, it might not come as much of a surprise that Kiev has no functioning mechanism to track the massive amount of inflows of American weapons and aid into the country.
Aug 30, 2022 - 07:23:34 PDT
Cash is the king. So the old adage goes anyway, and for the prepper – the one who’s keeping abreast of current events – cash is one of the last man-made means of protection that he or she has again…
The ethos in stock market trading on Monday was all too familiar: it reminded me of every trading day over the last 10 years. The market had a legitimate reason to plunge - a continuation of Friday’s selloff which, in my opinion, was for a very good reason - but instead the market rallied on the open and pared its losses by the close.
Conference Board Claims Americans' Confidence Surged In August, Inflation Expectations TumbledAug 30, 2022 - 07:15:35 PDT
According to The Conference Board, US Consumers saw a resurgence in confidence in August with the headline printing 103.2 vs 98.0 expectations and 95.3 in July. This is the highest print since April. Both the present situation confidence (up to 145.4 vs. 139.7 last month), and consumer confidence expectations (up to 75.1 vs. 65.6 last month) rebounded notably.
Worst Is Yet To Come: Economist Stephen Roach Says U.S. Needs ‘Miracle’ To Avoid RecessionAug 30, 2022 - 05:53:20 PDT
Negative economic growth in the year's first half may be a foreshock to a much deeper downturn that could last into 2024. Stephen Roach, who served as chair of Morgan Stanley Asia, warns the U.S. needs a "miracle" to avoid a recession.
As companies grapple with high costs and supply chain issues, many are shrinking their products. Here's how consumers can spot those changes.
Euro zone economic sentiment fell more than expected in August, data showed on Tuesday, dragged lower by a drop in optimism in industry and in services despite a better mood among consumers, in retail and in construction.
German inflation rose to its highest level in almost 50 years in August, beating a previous high set only three months earlier, as energy prices drove up inflation, data showed on Tuesday.
Aug 30, 2022 - 05:42:46 PDT
Eurozone inflation will hit a double-digit fee within the autumn and stay larger for longer on account of the surge in fuel costs, economists have warned.
"I think realistically we do need to use oil and gas in the short term because otherwise civilization would crumble," Musk told reporters.
Kremlin-controlled Gazprom has informed French utility Engie that it is reducing gas deliveries from today due to a disagreement on the application of some contracts.