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The White House is set to unveil a new minimum income tax for billionaires on Monday as part of President Joe Biden’s budget proposal for the next fiscal year. The measure would mark the first time the 700 richest Americans will be targeted by a specific tax, reports the Washington Post, which was first to report the news.
The British public's expectations for inflation over the next five to 10 years hit a record high this month, according to a survey that is likely to be noted with concern by the Bank of England.
Brazil’s central bank chief, Roberto Campos Neto, reiterated that a Selic benchmark rate of 12.75% should be enough to bring inflation expectations to target within a relevant horizon, according to a TV interview broadcast on Sunday.
One of the market’s most closely watched harbingers of a US recession has flashed red for the first time in 16 years in a further blow for Joe Biden as his struggling presidency faces a stalling economy.
While Talking About Fighting Inflation, the Fed Continued to Expand Its Balance SheetMarch 28, 2022
Earlier this month, the Federal Reserve launched its first salvo against inflation, raising interest rates by a quarter-percent. It was a pretty weak shot given 7.9% CPI, but Jerome Powell and other Fed presidents ratcheted up the tough rhetoric last week. Powell raised the possibility of 50 basis-point rate hikes at future meetings and San Francisco Fed President Mary Daly, “With the labor market so strong, inflation, inflation, inflation is top of everyone’s mind.”
A warning sign for the world’s biggest economy is flashing on the dashboard of bond markets.
A Recession Warning: Treasuries-U.S. Five to 30-Year Yield Curve Inverts for First Time Since 2006Mar 28, 2022 - 05:27:48 PDT
The U.S. yield curve measured by the gap between five and 30-year government bond yields inverted on Monday for the first time since early 2006 as a sell-off in the market resumed, with short-dated bond yields jumping to their highest since 2019. While parts of the yield curve, namely five to 10 and three to 10 years, inverted last week, the slide of the gap between five- and...
The days of producing "CHEAP" silver are over. Due to falling ore grades and rising energy prices, the cost to produce silver is now the highest in history, and will only trend higher as energy prices skyrocket in the future. This is good news for silver investors who purchased metal at much lower prices...
The Global Economy is closer to the brink of collapse with a further escalation of the Ukraine War. And... it seems that is the likely outcome as U.S. President Biden announced this weekend, "A Putin Regime change in Russia." Biden even went on to label Putin as a "Butcher...
In this week's episode, Lance maintains that we're still in a bear market rally - so in light of recent gains, he recommends taking profits in stocks and to start building a position in long-dated US Treasury bonds.
The big action in silver occurred early in the month, making March a pretty large outlier. First, it continues the recent trend of increasing deliveries. Second, deliveries were 8.7% of the max open interest for the month. This is the highest percentage since July 2020 when prices took off. There are still 24 open interest contracts remaining.
The stars are aligning for gold. A combination of geopolitical tumult, supply chain problems and inflation all point to much higher gold prices. Today, I’ll break it all down.
Last year, we wrote a report on the risk of stagflation. At the time of writing, we didn’t envision a return to 1970s stagflation – low growth, rampant inflation and high unemployment – but a milder version, absent high unemployment but where household and corporate ‘margins’ are still squeezed by soaring costs and lower income. That view seems now optimistic.
The solutions will come not from those profiting from inequality and scarcity but from relocalizing "money" and production to create degrowth community economies.
There is no particular mortgage rate at which recessions tend to start. Curiously, there is a spread between mortgage rates and treasury notes that seems to matter.
Mar 25, 2022 - 12:07:25 PDT
According to Fed Funds Futures data, The Federal Reserve is now forecasting 9 rate increases over the next year.
Macro researcher Jim Bianco returns for Part 2 of our interview with him on the Federal Reserve's conundrum: it can either save households by raising interest rates to fight inflation, or it can defend the markets. But it can't do both.
The US government’s Consumer Price Index indicates prices have increased 7.9 percent in the last year. While this statistic shows the highest rate of increase in forty years, it still understates the amount prices have increased, in part because the statistic is manipulated to minimize reported price increases.
The West's Russia Sanctions Show Why States Want to Weaponize the Financial SystemMar 25, 2022 - 11:47:01 PDT
The near-complete isolation of Russia from the broader West has demonstrated the continued strength of Western influence in global affairs. Western nations will attempt to similarly isolate those accused of being “Russian agents” within their own borders.
Following the first interest rate increase in several years, Federal Reserve Chair Jerome Powell provided some interesting predictions for the year ahead. Starting with his thoughts on the likelihood of a recession: