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In December 2018, a man in his early 30s was intercepted on arrival at Fort Lauderdale airport and taken to a room where two FBI agents sat waiting.Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet Near War’s OnsetHow the US Toppled the World’s Most Powerful Gold TraderUkraine Latest...
A gauge of New York state manufacturing activity plunged by the second-most in data back to 2001, with sharp declines in orders and shipments that indicate an abrupt downturn in demand.
Aug 15, 2022 - 06:12:31 PDT
A gauge of New York state manufacturing activity plunged by the second-most in data back to 2001, with sharp declines in orders and shipments that indicate an abrupt downturn in demand.
Chinese developers may report a 30% year-on-year decline in first-half earnings due this month, which will likely weigh on sentiment, according to JPMorgan Chase & Co. analysts.
Part of the higher cost of groceries is due to more expensive fertilizers, with some up by 300% since September 2020, according to the American Farm Bureau.
House Passes Massive Climate, Tax, and Health Bill, Sending Biden a Core Piece of His Agenda To SignAug 15, 2022 - 06:03:43 PDT
Its provisions are estimated to raise $737 billion over 10 years. Democrats say the bill would reduce the deficit by more than $300 billion, citing analyses from nonpartisan congressional tax and budget offices.
Aug 15, 2022 - 06:01:01 PDT
The destiny of the US financial system will depend on the vibrancy of the American client — and therein lies a thriller. Nobody is absolutely certain when the tens of tens of millions of individuals with federal scholar loans must begin paying again their obligations.
Jeremy Grantham Still Expects the S&P 500 To Plunge by 50% From Its PeakAug 15, 2022 - 05:55:50 PDT
“In terms of the entire bear market, it would be unusual for it to bottom out anywhere near this high,” he says. "I would expect that by the low, the S&P would have declined by 50% from the peak in real terms."
With high natural gas prices showing no signs of abating and supplies becoming harder to obtain, cheaper and dirtier alternatives to the fuel are looking increasingly tempting for energy-hungry buyers.
Aug 15, 2022 - 05:51:02 PDT
Only in today’s Kafkaesque (having a nightmarishly complex, bizarre, or illogical quality) Federal government would Biden, Schumer and Pelosi cheer about passing a bill hilariously called “The Inflation Reduction Act” that not only will NOT reduce inflation, but also raises taxes on most Americans.
Aug 15, 2022 - 05:46:54 PDT
Well, Michael Burry is correct. In June, the US Personal Savings Rate YoY clocked-in at -44.9%. But the personal savings rate YoY has been negative since April 2021. Add to that the miserable REAL Average Weekly Earnings YoY on Americans and we have a serious problem.
Aug 15, 2022 - 05:43:15 PDT
Instead of trying to remove Fed stimulus even more, Biden and Congress passed the “Inflation Reduction Act” which will barely scratch inflation and raises taxes across the board (despite Biden’s promise that no one making under $400,000 will see a cent of increase taxes). And Biden’s preposterous promise ignores the inflation tax which has been severe and still growing at 8.5% YoY. Not 0% as Biden and Harris claimed.
Because any moderation in inflationary pressures is unlikely to be driven by the sort of benign economic factors that would support equity prices. On the contrary, the risk of the current slowdown in the economy, which has enabled inflationary pressures to abate even to a small degree, evolving into a full-blown recession ahead appears significant.rt?
Michael Burry, who bet on the collapse of subprime mortgages ahead of the 2008 financial crisis, is worried about the economy.
Retail sales data and earnings from companies including Walmart and Target will be closely watched this week as investors look to build on the renewed optimism that has hit Wall Street.
Rallies such as this month’s notwithstanding, I believe stocks are only partway through a massive bear market, the inevitable hangover from the biggest asset bubble in U.S. history, and thus today, July 29th, I took advantage of this rally to reinstate our SPY short position.
Stock Market News Live Updates: Stock Futures Slump As China’s Economy LagsAug 15, 2022 - 05:28:10 PDT
U.S. stock futures dipped to start the trading week after equity markets rallied towards their longest winning streak in 10 months on Friday.
The US government is addicted to spending money. And the Federal Reserve is Washington DC's pusher.When we talk about inflation, we usually focus on money creation by the Fed. After all, that is the definition of inflation. But the Fed has to keep creating money in order to monetize the massive federal deficit. And until Uncle Sam gets his spending problem under control, inflation will never truly abate.There is no sign the US government is going to get its spending problem under control. Last month, the feds ran the second-largest July budget deficit in history.
The CPI cooled in July. The White House and others in the mainstream continue to insist there is no recession. Is everything looking up?Peter Schiff was on Fox Business with Liz Claman, Kenny Polcari (Slatestone Wealth Peak Market Strategist), and Teddy Weisberg (Seaport Securities) to discuss the Fed's attempt to fight the inflation it caused. Peter said we haven't seen peak inflation, and on top of that, the recession will get worse.
ENERGY & MARKET UPDATE AUG 14th: Dumb Money Rally In Broader Markets & Metals While U.S. Power Situation Goes From...August 14, 2022
Don't be fooled by this Bear Market Rally, as investors will get crushed over the next several quarters. While many believe this is a new Bull Market in stocks and commodities, Smart Money isn't one of them. As the Dumb Money Sentiment moves to new highs, Smart Money Sentiment has fallen considerably. WATCH OUT... LOL...