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West Asia is a region that is currently experiencing a great deal of geopolitical activity. Recent diplomatic efforts, initiated by Russia and overseen by China, secured a long-elusive Iranian and Saudi Arabian rapprochement, while Syria’s return to the Arab League has been welcomed with great fanfare.
CBO projects the budget deficit will total $1.5 trillion this year and rise to $2.9 trillion by 2033. It also projects the national debt will reach a record 107 percent of the economy by 2028 and grow to 119 percent by 2033. In total, debt will rise by $22 trillion between now and the end of the decade.
May 12, 2023 - 11:33:33 PDT
In the first seven months of fiscal year 2023, the United States borrowed $925 billion, according to the latest Monthly Treasury Statement from the Treasury Department. Less-than-expected tax revenues contributed to a $176 billion surplus in April, a bit more than half the surplus the government saw this time last year.
May 12, 2023 - 11:29:17 PDT
Layoffs during the first three months of this year was 396 percent higher than the number of layoffs during the same period in 2022.
Want to day trade Tesla, Apple, and Microsoft at 2:00AM? You soon can.
In the past month we have discussed on multiple occasions the unprecedented collapse in market breadth, driven by a record outperformance of a handful of tech names...
Janet Yellen delivered some great news today: in an interview with Bloomberg TV, the Treasury Secretary and former Fed chair, who has been desperately fearmongering to present the most terrifying "fire and brimstone" scenario imaginable should Congress Republicans refuse to yield to Biden on debt ceiling negotiations, said that the federal government will have to renege on some...
Gold turned positive on Friday, reversing course from earlier in the session as buyers took advantage of a price dip, while economic risks including looming worries about U.S. debt default kept bullion's safe haven demand intact. The bullish sentiment in the gold market still stands strong over expectations of the Fed cutting rates later this year,...
U.S. Faces ‘Significant Risk’ of Running Out of Cash in June, C.B.O. WarnsMay 12, 2023 - 08:21:24 PDT
A default would cause financial distress, economic disruptions and rapid increases in borrowing rates, the nonpartisan Congressional Budget Office said.
"We are RAPIDLY Losing Freedom In This Country" George Gammon & Mike MaloneyMay 12, 2023 - 08:11:42 PDT
Mike Maloney has just arrived in Florida for his first live event in 4 years - Rebel Capitalist 2023, a conference organized by Mike's good friend George Gammon
Druckenmiller Says Jerome Powell Is Making the Biggest Mistake In the History of the FedMay 12, 2023 - 07:31:22 PDT
"I'm sitting here staring in the face of the biggest and probably the broadest asset bubble, forget that I've ever seen, but that I've ever studied," Druckenmiller said.
A recent Wall Street Journal article exposed how retail traders that made millions during the pandemic trading the market are now wiped out.
UMich Inflation Expectations Haven't Been Higher Since 2008; Headline Sentiment Slumped In MayMay 12, 2023 - 07:28:58 PDT
After last month's massive jump in 12-month inflation expectations, analysts are hoping the this morning's preliminary May data from UMich's consumer sentiment survey shows some pullback in that fear. While inflation expectations for the next year dipped very modestly, expectations for the next 5-10 years jumped to +3.2% - it hasn't been higher since 2008 (tied for its highest since 2011)...
May 12, 2023 - 07:27:06 PDT
Treasury Secretary Janet “The Evil Hobbit” Yellen is a Statist. She can only think of an all powerful central government calling the shots since the private sector and individual liberties are something to be eliminated.
What she clearly does not get is that complying with the debt ceiling does not question the payment of the government’s existing debt. It simply prohibits the government from incurring new debt. In other words, it requires U.S. officials to balance tax revenues with expenditures.
This article examines the currency imbalances between US dollars and the other currencies and concludes that should foreign holders decide to reduce their dollar exposure, the consequences for its value would be dramatic.
De-dollarization Means Gold Is Underrated and Has a ‘Long Way to Run,’ Says Bridgewater’s Co-CIOMay 12, 2023 - 06:07:41 PDT
"This geopolitical turmoil is not going away. This is a slow-moving secular support for gold," Bridgewater's Co-CIO said.
Mounting fears over the US debt-ceiling crisis will benefit gold as investors brace for potential chaos in financial markets, according to RBC Capital Markets.
“The Debt-To-GDP Ratios for the Advanced Economies Are Higher Than Ever Before,”: World BankMay 12, 2023 - 06:04:39 PDT
World Bank President David Malpass said global debt levels need to be addressed in an interview with CNBC at the G7 Finance Ministers and Central Bank Governors' meeting in Japan.
It is usually safe to ignore ritual brinkmanship over the US debt ceiling. The administration of the day invariably warns of “catastrophe” if the US Treasury is forced to default.