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The United States will look for every opportunity to move ahead and enact a global minimum corporate tax agreement despite the opposition of a key Democratic senator, Joe Manchin, to raising corporate taxes, U.S. Treasury Secretary Janet Yellen said.
If you're hoping red-hot inflation will cool down significantly in the coming months, you're probably going to be disappointed if producer prices provide any indication.
The dollar has been on a tear in recent months. Just last week, the dollar index moved from 107 to 108 with an inter-week high of 109.3. The greenback also hit parity with the euro last week. The dollar is near a 20-year high compared to the European currency and a 24-year high against the Japanese yen.And yet we have a massive devaluing of the dollar domestically. In his podcast, Peter tries to make sense of this tale of two dollars.
If you enjoyed my LNG White Elephant Basics, you will certainly like my short UPDATE 2.0. This update provides data showing why the global LNG supply & demand figures will become very problematic. I don't know why professional energy analysts can't see big problems ahead with LNG, but we certainly do...
CRITICAL UPDATE: We Have Never Seen This Before, Bone Crusher Chart Destroying Foreign Countries In Its PathJuly 17, 2022
If you think what's happening in Sri Lanka is bad, it will spread throughout the world like wildfire. In this update, I explain a chart which I call the BONE CRUSHER CHART that is destroying foreign countries at a rapid rate. Actually, the dynamics in this chart, we have never seen before, which is oblivious to most financial analysts and economists...
The US dollar index hit a 20-year high of 109 this week. This is creating increasing pain for other countries, especially those with Eurodollar loans, as servicing those is becoming more expensive -- at the same time that import costs are rising.
Jul 15, 2022 - 12:56:45 PDT
Gold coins dug up on a farm could be worth more than £10,000, but what was found alongside them may be a first in northern Europe.
The bills add up to $1,000, which Gilson estimates in 1934 was worth nearly $20,000.
Jim Rogers Thinks Stocks Will Decline for a Long Time — But Suggests Gold and SilverJul 15, 2022 - 12:46:18 PDT
Rogers knows how to survive — and thrive — in turbulent times.
The euro system and its currency are descending into crisis. Comprised of the ECB and the National Central Banks, the system is over its head in balance sheet debt, and it is far from clear how that can be resolved.
Hot inflation is crashing corporate profits, as consumer spending falls and the Fed's rate hikes make the cost of capital more expensive. As a result, stocks remain under pressure and bond default risks grow.
The destruction of 'phantom wealth' via default has always been the only way to clear the financial system of unpayable debt burdens and extremes of rentier / wealth dominance.
"The public often supports price ceilings – support that would surely disappear if the public understood the basic economics of this harmful government intervention."
When Will Inflation Peak? Economists See Light at the End of the Tunnel (It’s a Long Tunnel): MWJul 15, 2022 - 11:56:19 PDT
Analysts remain skeptical. Chris Zaccarelli, chief investment officer of Independent Advisor Alliance in Charlotte, N.C., said, “To the extent that we keep seeing elevated inflation prints — e.g. especially over 8%, but anything at 4% or higher — the Fed is going to have to be more aggressive” with its rate-hike plan.
In 2012, the nation’s affordability problem appeared to be concentrated on the coasts and in the Southwest. However, Up for Growth found a housing deficit in a total of 47 states and the District of Columbia as of 2019.
Large-scale Gasoline Demand Destruction Hits Sky-High Prices in Peak Driving SeasonJul 15, 2022 - 11:44:44 PDT
Some demand destruction is behavioral and may bounce back; some is structural, growing, and long term: The decline of an industry.
Recession, yes, but also recession plus an unnatural probability for an unhealthy dose of deflationary money and finance, more than what’s been experienced already—if you haven’t noticed.
Stock Market Index (DJI) Priced in #Gold Since 1800 (July, 2022) - via http://goldchartsrus.com
US Fed Balance Sheet vs Stock Market Index (SP500) (Jul. 6, 2022) - via http://goldchartsrus.com
The COVID-19 pandemic led governments to spend massively in emergency support, forcing them to run big deficits that have resulted in historically and rising high debt.