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Global food prices jumped toward a record last month, further adding to the surging cost of living for consumers.
US Services Sector Slumps To 18-Month Lows, Firms Passing Higher Costs On To CustomersFeb 3, 2022 - 07:07:22 PST
Following yesterday' dismal data from Markit/ISM on the manufacturing side of the US economy, analysts expected this morning's services sector surveys to show further deterioration after last month's tumble.
The Federal is supposedly on the path to tighter monetary policy, although it is currently still pouring gas on the inflation fire. The central bank says it is tapering its asset purchases even now, and will eventually begin shrinking its balance sheet. It also plans to raise interest rates.Peter Schiff has been saying the Fed can't do what it claims it's going to do. Economist Andre Marques agrees. He says the Fed is trapped. It doesn't really have room to raise rates or taper.
A Video Presentation of Debt in Physical Fiat Paper.
Initial Jobless Claims slipped lower last week as it appears the 'omicron wave' may be wearing off in America's labor markets.
The national debt quietly pushed past $30 trillion on Jan. 31. But that is only the tip of the debt iceberg. The American taxpayer is on the hook for a lot more than that. In his podcast, Peter Schiff said US government borrowing and spending has turned the dollar into monopoly money propped up by a massive Ponzi Scheme.
Bridgewater Executive Says Commodities Are The Most Underused Inflation HedgeFeb 3, 2022 - 05:37:46 PST
Karniol-Tambour said she likes metals and carbon credits because they’re exposed to both cyclical strength and new measures aimed at combating climate change.
Gold and copper edged lower as poor risk sentiment driven by weak corporate earnings pushed the dollar up.
U.S. lawmakers traded a whopping $355 million in stock last year, says MarketWatch, citing data from Capitol Trades. And more than 100 lawmakers conducted trading in shares, many publicly traded, in the U.S. and abroad.
A real rate of minus 35% and little prospect of a rate hike by the Turkish central bank can only mean more losses for the beleaguered lira.
The Bank of England lifted its key interest rate as part of a package of measures to contain inflation, warning that prices could top more than triple the government’s target.
The European Central Bank kept its key interest rates on hold and said it would continue buying eurozone debt on a large scale through much of the year, diverging from other major central banks like the Federal Reserve that are moving quickly to phase out easy money amid a surge in inflation.
Facebook Owner Meta Set for $195 Billion Wipeout, Biggest in Market HistoryFeb 3, 2022 - 05:12:24 PST
Meta Platforms Inc.’s one-day crash may rank as the worst in stock-market history.
The debt held by the public is some $24 trillion, which is bad enough. That’s more than 100% of GDP, a level the U.S. has previously reached only during wartime. Much of this debt is held by Japanese or Chinese, who won’t take kindly to not being repaid. But they’ll keep lending that money as long as they assume they will be repaid.
Congress is getting better at heading off devastating recessions. Yet the gusher of stimulus money Congress provided to offset the COVID recession during the last two years included hundreds of billions of dollars for wealthy Americans, with little benefit to the ordinary workers the money was supposed to help.
Futures tied to Wall Street’s key benchmarks edged lower in pre-market trading on Thursday after stocks closed higher for the fourth straight day in the previous session on the heels of Big Tech earnings.
Investors pushed up the price of Amazon nearly 500 points after hours when the company released a very "Bullish" earnings report due to much higher revenues in the fourth quarter. However, if you dug a bit deeper in the financial news release, Amazon actually saw its....
There is only a matter of whether we’re going to make it worse by returning to monetary stimulus that cannot fix the problem — Wiemar-Republic style — or stay the course Paul-Volcker style.
We are in effect so busy arranging the beach umbrellas per our instructions that we don't notice the approaching tsunami.
Spot gold is again bobbing along near $1,800 an ounce, as it has been since mid-2020. The stickiness of that level, particularly as fundamentals turned more bearish, suggests there’s a big buyer somewhere in these waters.