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Yes, Krugman should return the prize. He no longer believes in the free trade ideas that earned him the prize.
Are 55 and older workers propping up the U.S. economy? The data is rather persuasive that the answer is yes. The chart of U.S. employment ages 25 to 54 years of age and 55 and older reveals a startling change.
Economic War is Inflationary. We are at Economic War.
The ugliest year ever for US corporate-bond investors is expected to get uglier -- and they only have the Federal Reserve to blame.
The Wolf Street Report: Housing Bubble Getting Ready to Pop – The Big Boys Leave, Waiting for ResetAug 8, 2022 - 11:35:07 PDT
Biggest investors in single-family houses: “We need to be patient and allow the market to reset.”
NY Fed Inflation Expectations Plunge Most On Record, But There Is A Catch...Aug 8, 2022 - 11:33:41 PDT
Readers will recall that according to Jerome Powell's own presser, the Fed's first 75bps rate hike in more than two decades was erroneously prompted by an abnormally higher preliminary UMich 5-10 year inflation print (which was subsequently revised lower in the final number).
Aug 8, 2022 - 11:30:06 PDT
The US housing market is simply unaffordable for millions of Americans. To illustrate the problem, here is a chart of the Case-Shiller National home price index less CPI YoY graphed against Average…
The current US Treasury 10Y-2Y yield curve just slipped further into reversion at -40.299 basis points, screaming impending recession. Oddly, The Federal Reserve has been leaving its balance sheet of Agency Mortgage-backed Securities (MBS) in tact (green line).
The BLS will release its next CPI report on Wednesday, August 10. Here's an advance look at two key components.
The laughably-named "Inflation Reduction Act" will double the size of the IRS - making it larger than the Pentagon, State Department, FBI, and Border Patrol...combined! And that will save money?
As Democrats pat themselves on the back after the Senate finally passed their massive tax, climate, and healthcare bill - the "Inflation Reduction Act" which Senate Majority Leader Chuck Schumer called "one of the most significant pieces of legislation passed in a decade," Bloomberg has compiled a list of winners and losers.
Farage Warns, If America Falls To Marxists, Western Civilization Will FollowAug 8, 2022 - 09:13:44 PDT
Marxism is threatening democracies across the globe—not just America—warned Britain’s Nigel Farage during a Saturday speech to conservatives in Dallas, Texas.
“A new analysis from researchers at the Wharton School of Business concludes that the ‘Inflation Reduction Act’ wouldn’t reduce inflation at all.
Perhaps not coincidentally, the makeup of the Democratic Party has recently been trending toward high-earning professionals.
Tucked away in the hilariously-named “Inflation Reduction Act” that Joe Manchin has been working on with Chuck Schumer is one significant bit of spending that has been mostly flying under the radar. The measure would fund a massive expansion of the Internal Revenue Service to the tune of eighty billion dollars.
The passage of the so-called "Inflation Reduction Act" over the weekend brings the total amount of spending in the pipeline by Congressional Democrats to around $3.5 trillion since President Joe Biden took office, with the imposing tally coming as Americans struggle with an inflationary cost-of-living crisis.
Since the creation of the US Federal Reserve over a century ago, every major financial market collapse has been deliberately triggered for political motives by the central bank. The situation is no different today, as clearly the US Fed is acting with its interest rate weapon to crash what is the greatest speculative financial bubble in human history, a bubble it created. Global crash...
Bank of England Warns of ‘Apocalyptic’ Global Food Shortage, ‘Helpless’ in Face of Surging InflationAug 8, 2022 - 07:22:05 PDT
Governor Andrew Bailey says he is 'helpless' in face of surging inflation.
Former PM has warned of a financial timebomb awaiting families as Labour plans a major intervention to address crisis.
Cash Withdrawals in the UK Soar As Brits Grapple With the Rising Cost of LivingAug 8, 2022 - 07:09:20 PDT
Brits are using cash as a way to manage their budgets as inflation in the country is expected to peak at over 13% in October.