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Aug 9, 2022 - 11:39:54 PDT
Central banks may find themselves in a "debt-trap" as they try to normalize monetary policies, the "Dr. Doom" economist said.
Commentary An additional $700 billion in government spending tied to the Inflation Reduction Act will make inflation worse, ...
Having seen the mainstream media rush to defend a clearly weakening economy, closing the 'Overton Window' on any mention of the 'r-word' - to the extent that one senior economist was fact-checked by Facebook for daring to utter the 'r-word' - pocaster Joe Rogan blasted the Biden administration for "gaslighting" the American people about the meaning of a recession after two consecutive quarters of economic contraction were reported last week.
The market is in danger, warns macro analyst Jesse Felder.
Aug 9, 2022 - 11:01:03 PDT
White House Chief of Staff Ron Klain took a victory lap on behalf of President Joe Biden for what Klain described as a "historic decline" in gasoline prices to $3.99 per gallon, crediting the president's get-tough attitude towards U.S. oil producers for the multi-week pump price falling streak.
Aug 9, 2022 - 10:56:28 PDT
Jeffrey Snider, chief strategist at Atlas Financial, noted on Twitter that “some people are going to say inflation expectations are falling because [of] Fed’s aggressive rate hikes,” but that this was “bull.”
Aug 9, 2022 - 10:55:25 PDT
Consumers are responding to surging prices by saving less, using credit more, and modifying their lifestyle choices, new data show.
US Housing Inventory Grows At Record Pace As Buyers Slow Down; Shiller Warns Of 'Heightened Risks'Aug 9, 2022 - 10:53:19 PDT
The number of houses sitting on the market grew at a blistering pace last month, with the number of active listings jumping 31% vs. the same period last year - a record-high increase for a third straight month, Bloomberg reports, citing a Tuesday report from Realtor.com.
That’s 437,000 out of the total 528,000 jobs reported for the month of July. Put another way, 82% of the jobs everyone was cheering about were created with accounting gimmicks!
With inflation climbing higher, many investors are turning to hard assets like gold to help protect their nest egg… And while gold has held its value more than most other assets this year, it still hasn’t moved higher like many expected… leaving many gold investors asking one question? “Where is the price of gold headed?”
Credit-card spending is slowing down as US consumers feel the impact of rising rents and other increased costs, according to Bank of America Corp.
The AIER Leading Indicators Index is well below neutral, signaling broadening weakness in the economy and sharply elevated levels of risk for the outlook. Caution is warranted.
Aug 9, 2022 - 08:32:52 PDT
Sen. Joe Manchin (D-WV), Sen. Chuck Schumer (D-NY), and President Joe Biden must think voters are fools.
Don't go popping those champagne corks just yet, deficit hawks.
The Senate Democrats’ climate bill could set aside more than $2o billion to incentivize farmers to not grow crops in the interests of environmental conservation and preventing climate change, according to the bill’s text.
The Fed is doing something it’s never been allowed to do in its 109 years of operation. And, it’s doing it without any pushback from Congress.
For decades, relative global stability, sound economic-policy management, and the steady expansion of trade to and from emerging markets combined to keep costs down. But now all these conditions have been overturned, and the world is settling into a dangerous and destabilizing new regime.
However, there is sufficient evidence that “monetary policy” leads to other problems, most notably a surge in wealth inequality without a corresponding increase in economic growth.
Aug 9, 2022 - 07:53:29 PDT
US labor productivity declined in Q2, down -4.6% since Q1. At the same time, unit labor costs continue to soar at a rate of 10.8%.
Investors should modestly trim stock holdings and shift the money to commodities after equities outpaced other assets amid receding recession fears, according to JPMorgan Chase & Co. strategists led by Marko Kolanovic, one of Wall Street’s staunchest bulls.