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Kissinger Says U.S. Is Heading Aimlessly Toward Brink of War Against Russia and ChinaAug 16, 2022 - 06:02:00 PDT
Henry Kissinger, the 99-year-old former secretary of state and national-security adviser, is speaking critically of U.S. foreign policy.
Putin Slams U.S., Claims It Wants To Drag Out War in Ukraine and Provoke ChinaAug 16, 2022 - 06:01:09 PDT
Russian President Vladimir Putin slammed the U.S. and wider West, claiming Tuesday that America wants to drag out the war in Ukraine.
U.S. Navy Is Seeing More ‘Unsafe’ Aerial Intercepts by China, Says Seventh Fleet CommanderAug 16, 2022 - 05:59:37 PDT
Karl Thomas said on Tuesday that he's seen a increase in "unsafe" aerial intercepts by Chinese military in the South China Sea region.
Aug 16, 2022 - 05:57:50 PDT
The US and its two top Asian allies announced they had conducted a joint missile defense exercise off Hawaii, raising the profile of exercises that show their willingness to work together in the face of threats posed by North Korea and China.
Analysis-Loosening Financial Conditions Threaten Central Bank Inflation FightAug 16, 2022 - 05:55:13 PDT
The U.S. Federal Reserve is hiking interest rates at the most aggressive pace in a generation, but the financial conditions it needs to tighten to tame soaring inflation are heading in the wrong direction. A rally in equities and falling government bond yields since the Fed's June hike means financial conditions are actually loosening, despite the U.S. economy having been hit with a...
China’s surprise interest-rate cut has done little to allay concern over the property and Covid Zero-led slowdown, with economists and state media calling for additional stimulus.
‘Ticking Time Bomb’—China’s Real Estate Bust Deepens As Housing Prices Fall for 11th Straight MonthAug 16, 2022 - 05:48:50 PDT
Industry analysts see an urgent need to stimulate a recovery in China’s overheated residential real estate sector as potentially 50 million vacant apartments could soon flood the market.
Amid surging layoffs in the real estate market, a collapse in homebuilder sentiment, soaring mortgage rates and plunging mortgage applications, it is hardly a surprise that analysts expected a drop in Housing Starts and Permits in May (-2.1% MoM and -1.3% MoM respectively), but those numbers were again destroyed as Housing Starts crashed 9.6% MoM and Permits plunged 3.3 MoM.
Aug 16, 2022 - 05:36:07 PDT
The number of US home-purchase deals that fell through jumped in July as buyers continued to back away from the market amid rising mortgage rates.
The Fed Signaled They’re Leaning ‘Towards Fighting Inflation’ Than Keeping JobsAug 16, 2022 - 05:27:53 PDT
So instead of that dual mandate that they started out with, I think that they're really looking to capitalize on this inflation story because they know that they're behind on it. First quarter here, we were not raising until March. And so we're late to the party on some of this. We've got more to go between now and July next year, as they're projecting.
But people I know and you may know as well sometimes carry much higher balances. And if you run the numbers using an online calculator on bankrate.com, for example, you'll see that carrying this debt becomes really, really expensive. And the amount of interest you're going to be paying over a certain time period doesn't look-- that should actually entice you to pay more...
Walmart Inc nudged up its annual profit forecast on Tuesday, partly reversing a hefty cut less than a month ago, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales. Shares of rivals Target Corp, Costco and Best Buy also climbed on the news, while futures for the blue-chip Dow index cut losses.
"And in a troubling sign that consumers are now sitting on the sidelines due to higher housing costs," Konter added, "the August buyer traffic number in our builder survey was 32, the lowest level since April 2014 with the exception of the spring of 2020 when the pandemic first hit."
The CPI fell modestly in July, but prices remained near 40-year highs at 8.5%. Meanwhile, President Biden did a victory lap, and Congress passed an "Inflation Reduction Act" that will only make inflation worse.It's easy to look at inflation talk as political banter and wonky economic theorizing, but in fact, it hurts real people. As Brazilian economist Andre Marques explains, it makes us all poorer.
Gold and silver deliveries on the Comex have surged since March 2020. While delivery volume in 2021 and 2022 are below the massive amount seen in 2020, overall volume is very elevated compared to pre-Covid levels.
Peter Schiff appeared on the Newsmax Saturday Report along with former Rep. Peter King (R-NY) to talk about President Joe Biden's unwarranted inflation victory lap.The CPI for July came in slightly cooler than June's sizzling 9.1%. But even at 8.5%, CPI remains near 40-year highs. But Biden focused on the unchanged month-on-month CPI to declare victory over inflation and claimed he's building "an economy that works for everyone."
U.S. LNG BOOM & BUST MARKET: Why U.S. LNG Exports Will Not Be Guaranteed Supply In The Years AheadAugust 16, 2022
The U.S. LNG Export Industry is heading for real trouble when domestic shale gas production peaks and declines. This is terrible news for the tens of billions of dollars invested in the U.S. LNG Export Industry. I've labeled the LNG Industry as a White Elephant & Massive Boondoggle, and the posterchild is Cheniere LNG... LOL...
In the last 10 years, Central banks significantly increased their gold purchases. In 2021, they purchased 362.6 gold tons (16.8 US$ billions) altogether, which is an increase of 37.5% from 2020.
Economist Nouriel Roubini said there are two options for the US economy, given the Federal Reserve’s most-aggressive tightening campaign in decades: an economic hard landing or inflation at a persistently elevated level.“The fed funds rate should be going well above 4% -- 4.5%-5% in my view -- to really push inflation towards 2%,” the chairman and chief executive...
Continued Inversion of Yield Curve an Indication Bond Market ‘Sees Troubled Times’: Wells FargoAug 15, 2022 - 12:48:27 PDT
Yield curve inversions, which are rare, are viewed as a good recession predictor because they suggest that investors believe – what with the interest rate on long-term bonds being lower than the rate on short-term bonds – that economic growth is slowing.