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Apr 26, 2022 - 12:53:26 PDT
Real Final Sales is the true bottom line estimate for the economy. The rest is inventory adjustments which net to zero over time. Estimates Take a Dive. The GDPNow Model Forecast for real final sales dove a full percentage point on April 25 and here is the explanation from the Atlanta Fed.
"Today, the Federal Reserve and federal government serve as America’s Rhode Island, the money pump that keeps the money supply rising faster than money demand."
“War is a racket, wrote US Maj. General Smedley Butler in 1935. He explained: “A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small ‘inside’ group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.” Gen. Butler’s observation describes the US/NATO response to the Ukraine war perfectly.
Fortunately, President Biden thus far has rejected the most risky policies that hawks are pushing in response to Russia’s invasion of Ukraine. Despite being under intense pressure, he continues to rule out proclaiming a no-fly zone, and he flatly rejects suggestions (including from one close political ally) that he consider sending US troops to Ukraine.
Retired Gen. Philip Breedlove is the latest high profile official to catch the war fever.
Pentagon Chief Admits The Real Strategic Goal In Ukraine: Quagmire For RussiaApr 26, 2022 - 11:34:50 PDT
Secretary of Defense Lloyd Austin provided a revealing and disturbing glimpse into a darker element of US policy at a press conference held April 25 at the Poland/Ukraine border. The press event followed a trip to Kiev by Secretary of State Antony Blinken and Austin.
Apr 26, 2022 - 11:29:56 PDT
Russia’s top diplomat warned Ukraine against provoking World War III and said the threat of a nuclear conflict “should not be underestimated” as his country unleashed attacks against rail and fuel installations far from the front lines of Moscow’s new eastern offensive.
Apr 26, 2022 - 11:18:37 PDT
The Kremlin’s top diplomat warned that the threat of nuclear war “should not be underestimated” and said that Western weapons shipments were legitimate targets.
In Major Reversal After Warning Of Nuclear War, Germany Approves Tanks For UkraineApr 26, 2022 - 11:16:44 PDT
In a major reversal following Chancellor Olaf Scholz only days ago voicing strong resistance, it appears Berlin has bowed to the mounting pressure among allies and approved new tank deliveries to Ukraine from Germany's own stock, which Scholz had previously said was depleted.
Join Mike Maloney for Part 3 of his ‘Bubble Update’ series. This time, you’ll learn about the Bond Bubble…and why Mike is able to pinpoint an exact date on which he believes the bull-market in bonds ended.
China could soon become part of the world's economic growth problem rather than the solution, Desmond Lachman writes in a commentary essay.
“These developments have started to raise the specter of stagflation,” Gill warned in a statement on the World Bank’s Commodity Markets Outlook report.
Social media is awash with fears that “the government” will be able to track your spending, and that is true, assuming a nefarious government. But that’s not terribly different from “the government” looking at your bank account, your credit card statements, or your tax return, assuming the authorities are nefarious; otherwise, the government would have to have probable cause to do so.
These economic blows are just one element in a cascading set of problems all hitting at the same time. It combines the nuclear anxieties of the 1950s and ’60s with the inflation threat of the ’70s, the crime wave of the ’80s and ’90s and the tensions over illegal immigration in the 2000s and beyond.
“The World Has Weaponized Food’ Global Food Brand Goya CEO Warns World on the Brink of a Food CrisisApr 26, 2022 - 08:41:19 PDT
"We are on the precipice of a global food crisis,” ...
Wall Street: Inflation and Supply Issues May Dent GM and Ford Earnings More Than Previously ExpectedApr 26, 2022 - 08:38:10 PDT
DETROIT — There's growing concern among Wall Street analysts that higher costs and supply chain disruptions will put pressure on 2022 earnings for General Motors and Ford Motor — even more than initially expected.
Apr 26, 2022 - 08:33:51 PDT
Real estate adviser Kirsten Jordan discusses how raising rates with low vacancies are impacting the housing market.
Apr 26, 2022 - 08:28:10 PDT
Could it be that US Dollar hegemony is nearly over and commodity-backed currencies are the way of the future?
After 'hope' crashed in March, analysts expected a modest further rebound in the headline Conference Board Consumer Confidence print in April - they were wrong. The headline confidence print dropped very modestly from a revised down 107.6 to 107.3 in April as Expectations limped higher (from 76.7 to 77.2) and Present Situation worsened slightly (from 153.8 to 152.6)...
Apr 26, 2022 - 08:21:39 PDT
Making homes affordable is NOT one of the mottos for The Federal Reserve. But making homes outrageously unaffordable for the masses should be their motto.