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Biden Urges G7 To Stay Together as Leaders Target Russian Gold, Oil PriceJun 27, 2022 - 12:09:52 PDT
Four members of the Group of Seven rich nations moved to ban imports of Russian gold as part of efforts to cut off its means of financing the invasion of Ukraine.
Just last week, Federal Reserve Chairman Jerome Powell was warned by Democratic lawmakers not to risk a recession, a message European Central Bank President Christine Lagarde received in Brussels as well. The Bank of England, led by Governor Andrew Bailey, was recently accused of having been “flat footed” on inflation.
And despite the surge in interest rates for auto loans.
“Why the current tightening cycle is unlike anything we’ve observed in the past.”
Jun 27, 2022 - 11:46:16 PDT
Jerome Powell and the St. Louis Fed are both concerned over inflation expectations. Let's investigate.
In another case of who is leaking and why, the New York Times has revealed that the CIA is heavily involved in training and advising Ukraine in its war with Russia. As former CIA official Larry Johnson writes, this is a very selective leak from the US government. So we need to read between the lines to answer why. Also today...one day before NATO's Madrid summit the talk is all about escalation.
Michael Burry Agrees: "Bullwhip Effect" Will Force Powell To Pivot On Rate Hikes And QTJun 27, 2022 - 11:40:57 PDT
It's not the first time in recent months that Burry has raised concerns about the economy. In May, he tweeted that the current market conditions are "like watching a plane crash."
Biden Drains US Strategic Oil Reserve, Lowest Since 1986; UAE Warns Not To Expect Any Help From OPECJun 27, 2022 - 11:37:27 PDT
Continuing to do the same action and expecting different results is the Einsteinian definition of insanity... but that hasn't stopped the Biden administration in the case of its attack of his oil/gas prices.
Dr. El-Erian discusses our current economic path, underpinned by central bank
policy experimentation. He points to ominous signposts all around us: rising
inequality, sluggish growth, political tensions, and volatile financial markets. He
dissects continued pressures that warrant radically different monetary policies...
Jun 27, 2022 - 09:55:16 PDT
I sat down last weekend for a long chat with Alexander Mercouris of The Duran and Crypto Rich to discuss the rapidly evolving situation in Europe. Long time readers know that I’ve been handicapping the collapse of the European Union for years. That idea isn’t based on my personal antipathy for Eurotrash commies...
Jun 27, 2022 - 09:31:35 PDT
The future world order, already in progress, will be formed by strong sovereign states. The ship has sailed. There’s no turning back. Let’s cut to the chase and roll in the Putin Top Ten of the New Era, announced by the Russian President live at the St. Petersburg forum for both the Global North and South.
Every day, the Biden administration talks about how it wants to help the middle class - but this must not include the 7.5 million people that make their living from the energy industry.
We are nearing the death of the old geopolitical system and of the world order that has kept repeating itself from the medieval ages.
Jun 27, 2022 - 09:08:29 PDT
Over the past couple of years, advanced nations have found reason to be very concerned about the health of American democracy.
An estimated 14,000 protesters are taking part in the nationwide show of discontent against rising hardship, particularly increased fuel prices, in an economy dealt a serious blow by the coronavirus pandemic.
* The strongest currency in the world: The rouble, which for decades even Russians shunned because it was so weak and volatile, is by far the world's top performing currency against the U.S. dollar year-to-date.
As Gas Prices Surge, Stations Now Hold Up to $175 of Your Money When You Swipe: WSJJun 27, 2022 - 08:57:16 PDT
Higher gasoline prices have led stations to raise the holds they put on cards by as much as 40%, a change that means overdraft risks for some.
For a generation of alienated techies, crypto's all-for-one ethos was its biggest draw. Now panic is spreading across this universe — and that same ethos is posing what may be the biggest threat yet to its survival.
Dallas Fed Plunges As Respondents Unleash Unprecedented Slamdown Of "Disastrous" Biden AdministrationJun 27, 2022 - 08:52:26 PDT
After an unexpected rise in US durable goods orders (in May) and pending home sales (in May), the Dallas Fed's Manufacturing Survey (in June) plunged to its lowest since May 2020.
Jun 27, 2022 - 08:43:52 PDT
St. Louis Fed President Bullard made a remark the other day that consumers are healthy so a recession is unlikely. Consumers are healthy? It is true that the US U-3 uemployment rate is low (3.6% ve…