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Taiwan Officials Say Pelosi "Definitely Coming" As China Begins Closing Waters For New PLA DrillsAug 1, 2022 - 09:09:39 PDT
The vast majority of breathless Western media reports about Nancy Pelosi's now "imminent" Taiwan visit are being sourced to Taiwanese media and officials; and among Taiwanese outlets it seems to race is on to produce more and more specific detailed predictions. For example, this is the latest out of Taiwan tabloid ETtoday - picked up by international news wires: US House Speaker Nancy Pelosi will arrive at Songshan Airport Tuesday evening at 10:30pm local time.
A pamphlet ironically entitled The Fasts of Louis XV, for instance, described how the king’s agents regularly scoured Paris for girls to add to the royal “harem.” The Age of Utopia: Christendom from the Renaissance to the Russian Revolution, by John Strickland Two major revolutions followed the ideas of the Enlightenment. One, the American, seemingly a mostly successful one for human...
Members of the US House of Representatives will now receive up to $10,000 to upgrade security at their homes in the face of rising threats against lawmakers, the House sergeant at arms announced last week, in yet another sign that American politics has entered a dangerous, violent new phase.
Walmart Inc. WMT 0.62%▲ earlier this year pulled the plug on ads that were set to promote items such as fresh food and clothing after it concluded that inflation was first and foremost on shoppers’ minds. It quickly crafted new ads—relying on footage from older campaigns to save time—with a simple message: Consumers are getting squeezed, but Walmart is keeping prices low.
Aug 1, 2022 - 08:48:16 PDT
On the recession front, the 10Y-2Y US Treasury yield curve just flattened another -6.015 basis points to an inverted -30.195 basis points.
Professional economists, perhaps tired of being asked, years ago formed a committee to officially mark the beginning and end of recessions, the NBER (Nation Bureau of Economic Research) committee considers a variety of data, but its final decision is subjective.
The average 21st century American politician doesn’t care about you and your family, or even the district he or she represents. As COVID Mania made crystal clear, their main concern is making sure they have the power to rule over you. Rarely do they wield this power to the benefit of constituents who elected them through the traditional democratic process (of course, there are...
London’s High Court Rules Against Venezuela’s Maduro in $1 Billion Gold BattleAug 1, 2022 - 07:34:27 PDT
London's High Court has rejected President Nicolas Maduro's latest efforts to gain control of more than $1 billion of Venezuela's gold reserves stored in the Bank of England's underground vaults in London.
The trial of JPMorgan Chase & Co.’s former head of precious metals has offered unprecedented insights into the trading desk that dominates the global gold market.
One of the most important dictums in finance is this: “Don’t fight the Fed.” And this could get ugly.
Senior Economist 'Fact Checked' By Facebook For Saying US Is In RecessionAug 1, 2022 - 07:24:24 PDT
An experienced economist has been ‘fact checked’ and corrected by Facebook after he stated that the U.S. is now in a recession.
"Fed officials must prioritize monetary stability over political objectives such as inequality and climate policy. To simplify its operations, the Fed should consider returning to the pre-2008 corridor system of monetary policy." ~ Thomas L. Hogan
"An ugly picture is coming into focus: rising inflation, slowing growth, and a job market that looks poised to deteriorate. Bearing in mind the lag associated with employment, it is no longer unthinkable that stagflation may be ahead." ~ Peter C. Earle
As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure.
The Affordable Care Act, No Child Left Behind, and the USA PATRIOT Act received new competition for the title of Most Inappropriately Named Bill when Senate Democrats unveiled the Inflation Reduction Act. This bill will not only increase inflation, it will also increase government spending and taxes.
I really don’t know how to describe the disturbing trend over the last few months of the Biden administration, along with Treasury Secretary Janet Yellen, simply lying to the American people about the economy.
Weak Manufacturing Surveys Signal 'Peak Inflation'; Plunge in Orders, Production, & JobsAug 1, 2022 - 07:11:00 PDT
With broad weakness in 'hard' economic data and 'soft' survey data coming fast and furious, it was no surprise that S&P Global's US Manufacturing PMI fell further intramonth to 52.2 in July from 52.7 in June - the lowest since July 2020.
Gold and silver prices continued to climb on Monday after cementing their best weekly performance since March.
The bill may indeed not do much of anything. But the best hope is that the Senate Parliamentarian kills the bill.
I likely made an error in my last Quantitative Tightening (QT) post. Let's correct that, then investigate proposed limits on QT and a proposed optimum level.