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Art Laffer Criticizes Biden’s Economic Policy: This Is a ‘Recipe for Future InflationAug 25, 2022 - 12:29:44 PDT
Former Reagan economic adviser Art Laffer discusses the GDP’s reaction to President Biden’s fiscal policies and weighs in on the consequences of the student loan handout.
Craziness in used cars is far from over. Cheapest used EV models see biggest price gains. Only the Porsche Taycan, most expensive used EV, sees dip.
Housing: BofA Downgrades Three Homebuilders As Housing Downturn AcceleratesAug 25, 2022 - 12:21:33 PDT
A softening housing market prompted analysts at Bank of America to downgrade their rating on three prominent homebuilders on Thursday.
"Does It Even Matter If The Fed Hikes 50 Or 75bps? It Won't Prevent The Multiple Trainwrecks Coming Our Way"Aug 25, 2022 - 11:02:18 PDT
"The awful truth is that it’s real and potentially (very) bad, not matter how you twist or turn things.”
Mohamed El-Erian, University of Cambridge Queens’ College president and Bloomberg Opinion columnist, says Federal Reserve President Jerome Powell must address past, present and future issues in his speech at Jackson Hole. He speaks on “Bloomberg Surveillance.” His opinions are his own.
In a blatantly unconstitutional move, President Biden yesterday announced that his Administration would be obligating upwards of half a trillion dollars - or more - to "forgive" student loans in households making $125K per year or less. Good thing the Inflation Reduction Act was passed or we might be in real trouble!
Aug 25, 2022 - 10:49:43 PDT
The Wall Street Journal comments on Biden’s Half-Trillion-Dollar Student-Loan Forgiveness Coup
Well, he did it. Waving his baronial wand, President Biden on Wednesday canceled student debt for some 40 million borrowers on no authority but his own. This is easily the worst domestic decision of his Presidency and makes chumps of Congress and every American who repaid loans or didn’t go to college.
The majority of Americans remain immune to the industry’s sales pitches, Pew survey finds.
Aug 25, 2022 - 08:56:59 PDT
A rare trend is being observed in China, which has so far evaded the world’s media attention. According to Reuters, China has been surreptitiously importing Gold from Switzerland at a record rate. The Swiss gold export to China in July rose to its highest since December 2016, Swiss customs data showed. The report indicates that Switzerland […]
As economist Ivan Tchakarov at Citigroup reports, yuan trading at the Moscow Exchange, Russia’s largest, has surged more than 40-fold this year. What’s more, Tchakarov notes, yuan dealing “has now started to dominate trading in more traditional currencies. This is happening against the backdrop of fast-declining trading in the US dollar.”
Aug 25, 2022 - 08:42:36 PDT
Bilateral trade between China and Russia is maintaining growth momentum, and the two sides will continue to promote normal economic and trade exchanges and maintain the stability of industrial and supply chains, a spokesperson of China's Ministry of Commerce (MOFCOM) said on Thursday.
Aug 25, 2022 - 08:15:13 PDT
Russian President Vladimir Putin signed a decree Thursday increasing the size of his country’s armed forces by 137,000, as the Kremlin’s war in Ukraine passed the six-month mark. Putin’s decree will increase the number of combat personnel in the Russian armed forces by about 10%, up from 1.01 million to 1.15 million. That will take the total head count of the military to 2.04 million.
Far from bogging down in a stalemate, Russia's invasion of Ukraine presents new perils after six months, including the threat of a nuclear disaster.
More Americans Than Ever Can’t Afford to Pay Their Electric Bill: bloombergAug 25, 2022 - 08:10:54 PDT
With more people owing more money, utility companies are getting more aggressive about shutoffs.
"End Of Abundance": Macron Warns Of "Major Tipping Point "Great Upheaval"Aug 25, 2022 - 08:01:27 PDT
With much of Europe facing a cold winter thanks to the war in Ukraine, various leaders have been sounding the alarm over the 'sacrifices' people are going to have to make in order to maintain opposition to Vladimir Putin - who's betting on fracturing the EU due to Russia's immense leverage over energy.
Aug 25, 2022 - 07:54:58 PDT
Beware the wrath of the U.S. Federal Reserve at this week's conclave of central bankers in Jackson Hole, Wyoming. The Fed is determined to break Wall Street's torrid and unwelcome rally, a bear-trap variant if ever there was one.
The Feds “magic money” game is about over! They try to fool the public into thinking they are sitting in a giant control center, making decisions, punching their keyboards, and controlling the economy.
The tragedy is that all of this could have been prevented had the U.S. and NATO guaranteed Russia that Ukraine would never be invited into the alliance. That’s not a defense of Putin’s invasion, by the way, which I condemn. It’s just reality. Now the world is living with the results.
Aug 25, 2022 - 07:17:19 PDT
Yet Boris Johnson insists support for Ukraine should be prolonged.
Aug 25, 2022 - 07:03:08 PDT
President Biden just cancelled $20,000 in student debt for individuals making as much as $125,000 per year, and couples as much as $250,000.