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Like a supertanker, US debt-service costs only change course very slowly. But it’s happening now -- and from Washington’s point of view, the new direction is the wrong one: they’re heading up.
READ MOREWith a gallon of milk up about 25% since before the pandemic, and retail bacon 35% higher, it’s hard to imagine how US food inflation could get any worse.
READ MOREThe Biden tweet that Bezos slammed isn’t as much of an incoherent word salad as it might seem. But it does represent a wrong-headed policy.
READ MOREAs long as the credit markets remain complacent the Fed has ample room to hike. And the Fed will continue to hike until there is a recession, a credit event, or inflation comes down.
READ MOREThe Refinance Index decreased 10 percent from the previous week and was 76 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 12 percent from one week earlier. The unadjusted Purchase Index decreased 12 percent compared with the previous week and was 15 percent lower than the same week one year ago.
READ MOREAnd the winner of "never let a crisis go to waste" is Turkey's Erdogan, who vows to block NATO membership for Finland and Sweden unless his shopping list of concessions is fulfilled by the US, EU, and NATO. Who will blink? Also today: Greece gets in on the "give us something" game.
READ MOREMajor retailer Target warned of rising cost pressures in its business right after Walmart.
READ MORE...the Fed’s ridiculous track record of easy money over the last 15 years, but also due to the new burgeoning bifurcation of the global economy that looks to be taking place with Russia – and potentially China - looking to back their respective currencies with gold.
READ MOREJeremy Grantham warns about the biggest stock market bubble and its future burst. The billionaire investor elaborates on the similarities between today’s market and the environment of 1929 and 2000. Mr. Grantham also shares his thoughts on the best investment strategies during this period.
READ MORE[The Fed] clearly, they printed too much money during their COVID response… we're seeing about a 40% move in the price level of just about everything in our lives.
READ MORELet's dive into the New Residential Construction report for April for a look at the US housing market.
READ MORE“I mean, the obvious reason for inflation is that the government printed a zillion amount of more money than it had, obviously,” Musk said
READ MOREThe CEO of Wells Fargo warned Tuesday that there is “no question” that the U.S. economy is going to get worse before it gets better.
READ MORE“Expectations for future conditions were also bleak,” added Peterson, “with 60 percent of executives anticipating the economy will worsen over the next six months—a marked rise from the 23 percent who held that view last quarter.”
READ MOREThe US economy won’t be able to avoid a bout of stagflation and markets have yet to tune into the risk of a significant slowdown in growth, said Mohamed El-Erian, the chair of Gramercy Fund Management and former chief executive officer of Pimco.
READ MORE“Eighty-seven percent of Americans said that inflation and the rising costs of everyday goods is what’s driving their stress,” said Vaile Wright, senior director of health care innovation at the American Psychological Association.
READ MOREThis year's Social Security cost of living adjustment (COLA) isn't nearly enough to help boost seniors' purchasing power. In fact, according to data from The Senior Citizens League (TSCL), high...
READ MORELate last week Senate Democrats, led by Senator Elizabeth Warren, introduced a new piece of legislation that aims to limit the ability of companies to increase prices on consumer goods and services during crises.
READ MOREU.S. shares could go nowhere for a while based on long-term valuations, or they could get it over with and crash
READ MOREFollowing March's modest rise in Housing Starts and Permits, analysts expected reality to catch up with the homebuilder market in April (just as we saw in the NAHB sentiment survey slumping to 2 year lows). Housing Starts and Building Permits both dropped in April but the picture was mixed...
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