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All of the above reasons reduced the marginal propensity to work. And it's very inflationary.
"Recession Is On Its Way" - Dallas Fed Shows Factory Activity Slumps For 9th Straight MonthJan 30, 2023 - 11:10:59 PST
While the headline Dallas Fed Manufacturing Activity Index printed better than expected (-8.4 vs -15.0), it remains in contraction (less than zero) for the 9th straight month (the longest streak since 2016)...
2023 started with a buying-panic in bonds (approaching their best start to a year in over 30 years at one point) as confidence grew about The Fed's terminal rate (not as high as some feared) and a soft landing (growth cooling and inflation slowing)...
More Americans name the government as the nation’s top problem in Gallup’s latest poll, which encompassed the rocky start of the 118th Congress’ term. With high prices persisting, inflation remains the second most-cited problem (15%), and amid elevated tensions about the southern U.S. border, illegal immigration edged up three percentage points to 11%. Mentions of the economy in general fell six points, to 10%, the lowest reading in a year.
Even on $100,000-Plus, More Americans Are Living Paycheck to Paycheck: BloombergJan 30, 2023 - 08:58:52 PST
Number reporting budget squeeze climbs 9.3 million, poll shows Most of the increase comes among relatively high earners.
Jan 30, 2023 - 08:57:08 PST
NASA has revealed the schedule for a rocket launch that will visit an asteroid that is valued at 70,000 times the global economy. The US space agency will launch a SpaceX Falcon Heavy rocket holding sensitive scientific equipment in October 2023 from Kennedy Space Centre in Florida.
For the first time since 2007, the World Health Organisation (WHO) updated its list of recommended medications on Friday to treat exposure to radiological and nuclear catastrophes, advising governments on how to stockpile for nuclear and radiological accidents and crises.
Russia told the United States on Monday that the last remaining pillar of bilateral nuclear arms control could expire in 2026 without a replacement due to what it said were U.S. efforts to inflict "strategic defeat" on Moscow in Ukraine. Both Russia and the United States still have vast arsenals of nuclear weapons which are currently partially limited by the 2011 New START Treaty,...
Jerome Powell and Wall Street are headed for another face-off this week as the Federal Reserve seeks to slow its inflation-fighting campaign without signaling a readiness to stop.
Stop projecting; and start projecting This week is obviously dominated by the upcoming Fed meeting. On which note, please - stop projecting, at least in one regard.
The vampiric orgy of weapons going to Ukraine could provoke a terrifying world war and global catastrophe. No sooner had the United States, Germany and other NATO powers announced the major release of main battlefield tanks for Ukraine, the Kiev regime immediately started demanding the supply of American-made F-16 warplanes. The attitude is incorrigible...
If the conflict in Ukraine does not end in nuclear madness, Taiwan just might. That very well may be the unintended result if Gen. Mike Minihan, the head of the USG Air Force's Air Mobility Command, has his way.
Delinquencies are rising, in some cases surpassing prepandemic levels, prompting banks to add to their rainy-day funds.
A similar number have eaten smaller portions owing to rising prices, with more struggling to stay warm.
U.S. central bankers have unambiguously telegraphed this week's policy decision: a quarter-of-a-percentage-point increase in their benchmark interest rate, the smallest since they kicked off their tightening cycle 10 months ago with one the same size.
Back-to-Back Market Smackdowns Coming from the Fed and ECB. Could Be a HootJan 30, 2023 - 07:38:37 PST
Surly frustrated central bankers telling euphoric markets that the inflation fight is far from over.
Jan 30, 2023 - 07:37:31 PST
Persons 16 years of age and older residing in the 50 states and the District of Columbia, who are not inmates of institutions (e.g., penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces.
The Wall Street Journal discusses The Decline of the Nice-to-Have Economy...
Jan 30, 2023 - 07:32:35 PST
The Federal Reserve’s Open Market Committee (FOMC) is meeting on Wednesday. What will they do? First, The Fed Funds Target (upper bound) is above the Core US inflation rate YoY. Second, M2 Money growth YoY has slowed to -1.3%.
Jan 30, 2023 - 07:31:11 PST
Welcome to the wonderful world of Bidenomics, giving the US 40 year highs in inflation leading The Federal Reserve to remove its enormous monetary stimulus (known as “The Punch Bowl.”