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Apr 11, 2022 - 05:56:33 PDT
Global foods costs are up more than 50% from mid 2020 to a record and households worldwide are trying to cope with the strains on their budgets. In North Africa, the challenge is more acute because of a legacy of economic mismanagement, drought and social unrest that’s forcing governments to walk a political tightrope at a precarious time.
The smartest guys in the room were the last to know as usual. Starting with Goldman which is still fighting it: With elevated inflation, the Fed tightening cycle accelerating and the US yield curve inverting, investors are increasingly worried about the risk of a recession. While rising inflation and rates have pushed investors to higher...
Russia Urges BRICS Nations To Create Own 'SWIFT' System, Warns 'Sanctions Are Destroying InternationApr 11, 2022 - 05:49:22 PDT
As The Statesman reports, central banks of the BRICS countries have already agreed to conduct the fifth test of a banking mechanism that will allow them to jointly pool “alternative currency” reserves to shield their economies from outside shocks, the ministry said.
The credit ratings agency Standard & Poor's has downgraded its assessment of Russia’s ability to repay foreign debt, signaling rising prospects that Moscow will soon default on external loans for the first time in more than a century.
The United States officials said that NATO membership for both Nordic countries was "a topic of conversation and multiple sessions" during talks between the alliance's foreign ministers last week attended by Sweden and Finland, report added.
China Port Congestion Leaves Everything From Grains to Metals Stranded: BloombergApr 11, 2022 - 05:42:25 PDT
Queues of vessels carrying raw materials have jumped after Shanghai initiated a city-wide lockdown at the end of last month to combat Covid-19. More than two weeks on, the congestion has expanded to nearby Ningbo-Zhoushan as ship-owners desperately divert ships to other ports in the country to avoid the trucker shortage and warehouse closures in Shanghai.
Russian ally Serbia took the delivery of a sophisticated Chinese anti-aircraft system in a veiled operation this weekend, amid Western concerns that an arms build-up in the Balkans at the time of the war in Ukraine could threaten the fragile peace in the region.
China Is Accelerating Its Nuclear Buildup Over Rising Fears of U.S. Conflict: WSJApr 11, 2022 - 05:31:28 PDT
China has accelerated an expansion of its nuclear arsenal because of a change in its assessment of the threat posed by the U.S., people with knowledge of the Chinese leadership’s thinking say, shedding new light on a buildup that is raising tension between the two countries.
The Chinese government has greatly "accelerated" its nuclear weapons program due to a revised threat assessment of risk posed by the United States, according to a new in-depth Wall Street Journal report that cites both Chinese and US officials. It follows a Pentagon assessment from last year which laid out Beijing's drive to "modernize, diversify and expand" its nuclear arsenal.
The annualized interest payment on the $30-plus trillion US national debt increased by over $16 billion in just six months. With the COVID crisis seemingly in the rear-view mirror, the economy allegedly strong, and the Fed raising interest rates to supposedly fight inflation, you'd think this might be a good time for the government to address its spending problem.Nope.
Prices keep rising faster than wages. The stimulus checks are long gone. Savings are being depleted. How is the average American supposed to make ends meet?The only option is to charge it.And that's exactly what Americans are doing.
With the Fed's expectation of 6.6% CPI inflation for March, the highest since 1981, Bitcoin did what it does best... SOLD OFF. You would think that with all the rising inflation, investors would be moving into Bitcoin, not selling it. However, this was the case today as Bitcoin fell 5.6%, trading below $40K...
Yields on credit are rising fast. How high will they go? Or, more importantly: At what % will the economy and markets start buckling?And even more importantly: How high is Federal Reserve Chair Jerome Powell able to stomach raising interest rates before being forced to pivot? This really is the THE key question today.
METALS & MARKET UPDATE APR 10th: Exploding Inflation Causing Chaos In Countries To SpreadApril 10, 2022
Rapidly rising inflation is causing skyrocketing food and energy costs leading to chaos and riots in several countries. Unfortunately, this is just the beginning. Many central banks are raising key interest rates in an attempt to curb demand and inflation. Even if they are successful...
Gold futures ended modestly higher Friday, logging a weekly gain as traders brushed off typically negative factors like rising Treasury yields and a stronger U.S. dollar.
"Despite the clamor of incorrect headlines, Russia’s embrace of gold amid awful circumstances remains a positive step. Gold is tangentially being utilized to make an existing money more sound." ~ Peter C. Earle
Whether we admit it or not, collapse is the default "solution." That destiny has already written by demographics.
Apr 8, 2022 - 12:45:28 PDT
Going after oligarchs breathes new life into sketchy asset forfeiture powers.
The war in Ukraine has triggered an alarming global surge in government controls on the export of food. It’s critical for policymakers to halt the trend, which is making a global food crisis more likely.
Cooking oils, cereals and meats hit all-time highs and meant food commodities cost a third more than the same time last year, according to the Food and Agriculture Organization’s monthly food price index published on Friday.