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Jun 27, 2022 - 08:35:16 PDT
No problemo, says James “Bully” Bullard, President of the St Louis Federal Reserve. Bullard said that US recession fears are overblown with consumers “healthy.” Really Jim? Inflation is so bad they REAL average hourly earnings growth keeps falling and is now -3.34% YoY.
Jun 27, 2022 - 08:23:06 PDT
How blue can you get? US pending home sales declined -12% YoY in May as The Fed cranked up mortgage rates. That was 11 out of the last 12 months had declining pending home sales. How about somethin…
Jun 27, 2022 - 08:21:21 PDT
The US economy is out of time. As a recession approaches, we are seeing the WIRP implied Fed o/n rate (green line) declining. And with The Fed chickening-out, we saw a surge in equities (NASDAQ com…
Still, according to data from the World Gold Council, Russia was one of the world’s leading gold producers last year, producing a total of 330 tons — the second-highest tally in the world behind China.
Gold steadied after the Group of Seven nations planned to announce a ban on new imports of the metal from Russia, which analysts saw as a “largely symbolic” move.
Robert Kiyosaki Says That Hot Inflation Will ‘Wipe Out 50% of the US Population’Jun 27, 2022 - 06:20:16 PDT
With price levels continuing to spike, the Fed is no longer using the word ‘transitory’ to describe inflation. 'Rich Dad Poor Dad' is more bearish than ever.
The global economy has reached a “tipping point” where it may be impossible to stop runaway inflation, the world’s top central banker warned, as the war in Ukraine and a US slowdown leaves Britain on the brink of recession.
“The risk of stagflation looms over the global economy as the threat of a new inflation era coincides with a weaker outlook for growth and elevated financial vulnerabilities,” the BIS, which is commonly known as the “central bank for central banks,” said in its annual report on Sunday.
“The monetary policy will continue to be accommodative to support economic recovery in aggregate sense,” Governor Yi Gang said in an interview with state broadcaster China Global Television Network, according to a transcript released by the central bank Monday.
U.S. President Joe Biden met on Thursday with governors, labor leaders, and business leaders to discuss the implementation of more offshore wind capacity, snubbing oil company executives who were meeting with U.S. Energy Secretary Jennifer Granholm
“Problems with power grids across the U.S., and other countries are a potential catalyst for chaos in energy markets that are underappreciated,” energy trader Kelly writes in a new analysis.
Two years after Argentina emerged from its latest default, a debt crisis in brewing once again.
The share of Japanese government bonds held by the Bank of Japan has topped 50%, hitting a record high as the central bank has accelerated its government debt purchases to hold down long-term interest rates.
European Central Bank policy makers gather on a Portuguese hillside on Monday with the sinking feeling that their rush to tackle the inflation shock they failed to forecast risks both a recession and echoes of the euro area’s sovereign debt crisis.
Zimbabwe’s central bank raised interest rates to a record and the government officially reintroduced the US dollar as legal currency to rein in surging inflation and stabilize the nation’s tumbling exchange rate.
Economists may be debating recession, but there's increasing consensus that stagflation has already arrived.
Dangerously high inflation has left Americans deeply dissatisfied with the economy and likely to punish the Democrats in this year’s midterm elections. US President Joe Biden would be wise to follow the example of his predecessor Bill Clinton, lest he end up sharing a political fate similar to Jimmy Carter's.
In a call with reporters, Kremlin spokesperson Dmitry Peskov said Russia made bond payments due in May but the fact they had been blocked by Euroclear because of Western sanctions on Russia was "not our problem". Russia has struggled to keep up payments on $40 billion of outstanding bonds since its invasion of Ukraine on Feb. 24, as sweeping sanctions have...
Jun 27, 2022 - 05:35:59 PDT
The default is a logical consequence of freezing Russia out of the global banking system.
(Bloomberg) -- Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. Most Read from BloombergRussia Defaults on Foreign Debt for First Time Since 1918Hyundai Quietly Climbs the EV Sales Charts and Elon Musk NoticesRep. Mary Miller Calls Roe Decision ‘Victory for White Life’Russia Is Hours Away From Its First Foreign Default in a CenturyA $2 Trillion Free-Fall