Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Inflation at 18.6% would push millions of people into dire straits. And because these horrible price hikes are being driven by the essentials people need to stay alive.
California’s Unemployment Fund is Underwater, Far Exceeding All Other StatesAug 22, 2022 - 10:42:22 PDT
recently dug into our government’s convoluted unemployment insurance system. As is typically true with most government policy, any stone one decides to unturn is ripe with waste and mismanagement.
According to a new NBC News survey, the vast majority of Americans are deeply dissatisfied with the direction of the country, holding the belief that America's best days are behind her. Why the massive negativity? Will politics solve it? Also today, neocons trash Biden's attempt to return to Iran deal.
U.S. Dollar Is Now Slicing Through Key Technical Levels ‘Like a Hot Knife in Butter’: MWAug 22, 2022 - 09:54:22 PDT
The ICE U.S. Dollar Index DXY, 0.71% soared 0.6% to 108.12 on Friday on its way toward the 2022 high recorded on July 14. Overnight, the greenback sliced through key technical levels against three of its major counterparts — the euro, British sterling and Japanese yen — “like a hot knife in butter,” suggesting the dollar has enough momentum to keep going even higher, said Marc Chandler, managing director and chief market strategist at Bannockburn Global Forex in New York.
"The best the federal government can do right now is to announce that no major policy changes will be implemented until the Federal Reserve gets inflation under control." ~ Robert E. Wright
The gathering consensus that inflation has peaked is spurring a FOMO moment for bonds, with investors eager to buy and chatter that 10-year Treasury yields could drop all the way back to 2%. That sort of Treasuries rally is unlikely unless China’s slowdown worsens.
Larry Summers Urges Fed To Admit Unemployment Will Rise, End ‘Confusion’Aug 22, 2022 - 09:41:07 PDT
Summers said his “worst fear” is the Fed “suggesting that it can have it all.”
Citi Issues Apocalyptic Warning About UK Inflation; German Central Bank Fears Further Surge In PricesAug 22, 2022 - 07:48:19 PDT
A startling new report forecasts the inflation rate in the UK could spike to 18% for the first time in nearly half a century due to surging energy costs in the upcoming winter season.
“V-Shaped” Recovery Not Now: It Gets Worse, 30.55 Million on Unemployment. Week 14 of U.S. Labor Market CollapseAug 22, 2022 - 07:45:35 PDT
Had a setback. Over 11 million gig workers on unemployment insurance. But four states, including Florida, still can’t process federal PUA claims.
Unusually dry weather across the Northern Hemisphere is further snarling supply chains and driving up the prices of food and energy, adding pressure to a global trade system already under stress.
California Housing Market Pukes: As Sales Collapse (San Diego County -41%), Prices Begin to SwoonAug 22, 2022 - 07:43:48 PDT
San Francisco & Silicon Valley lead. Southern California catching up. In Los Angeles, prices fell in July from June for the first since Adam and Eve.
Aug 22, 2022 - 07:41:18 PDT
The bezzle, a word coined in the 1950s by a Canadian-American economist, is the temporary gap between the perceived value of a portfolio of assets and its long-term economic value. Economies at times systematically create bezzle, unleashing substantial economic consequences that economists have rarely understood or discussed.
Aug 22, 2022 - 07:38:20 PDT
The price of natural gas has increased even more than crude oil, but many consumers may not have noticed. They will soon enough — in higher electric bills.
Aug 22, 2022 - 07:33:27 PDT
American companies are on pace to reshore, or return to the U.S., nearly 350,000 jobs this year, according to a report expected Friday from the Reshoring Initiative. That would be the highest number on record since the group began tracking the data in 2010. The Reshoring Initiative lobbies for bringing manufacturing jobs back to the U.S.
There is much confusion, even accusations, over whether QT is really happening. Let's settle the issue.
Aug 22, 2022 - 07:27:11 PDT
Lost in the debate over whether recession has started, is the observation that it doesn't matter much either way.
Aug 22, 2022 - 07:23:01 PDT
The Federal Reserve is facing an interesting problem. On the one hand, they vow to fight inflation by raising their target rate. At the same time, the probability of a recession in one year has grown to 50%.
“We’re committed to returning inflation to our 2% target and we’ll do what it takes to get there,” Barkin said Friday during an event in Ocean City, Maryland. He said that this could be achieved without a “tremendous decline in activity” but acknowledged that there were risks.
Several states are mailing out stimulus checks or tax rebates in September despite near-historic inflation. Recent data released ...
As signs mount of an economic slowdown in America, half of U.S. companies are planning to cut jobs even as business leaders fret about difficulties hiring and retaining talent, according to PricewaterhouseCoopers (PwC).