Behind Rosy Economic Data, Americans Struggle To Make Ends Meet
Behind Rosy Economic Data, Americans Struggle To Make Ends Meet Authored by Emel Akan via The Epoch Times (emphasis ours), Monica Lomax, a 59-year-old resident of Elkridge, Maryland, has been feeling the pinch of rising costs. She’s had to tighten her budget, especially for groceries and clothing. Now, her shopping trips are primarily for essentials, […]
Biden Administration Blames GOP for Blocking Inflation-Fighting Measures
The Biden administration released a memo outlining its efforts to combat inflation and blaming Republicans for hindering these actions. The memo emphasizes President Biden’s focus on reducing costs and fighting corporate price gouging, despite inflation still being a concern. It highlights that while the economy and labor market are strong, Biden struggles to receive credit […]
High Food Prices Push Americans into Debt for Essentials like Groceries
Amid ongoing high food prices, many Americans are accumulating debt to afford groceries. Elevated costs have led families to use savings, credit cards, buy now, pay later programs, or payday loans, as highlighted by new Urban Institute research. Although these methods provide immediate relief, they can cause financial instability. Kassandra Martinchek from the Urban Institute […]
Gold's Disconnect from Dollar and Yields Raises Questions for Wealth Managers
The recent rally in gold prices has puzzled wealth managers due to its disconnect from the typically correlated US dollar and inflation-adjusted US Treasury yields. A significant factor behind this anomaly is the unprecedented rate at which central banks have been increasing their gold reserves since early 2022 to mitigate the risk of western sanctions. […]
Oil Prices Slide as Fed Signals Longer High Rate Environment
Oil prices dropped by more than $1 on Tuesday as concerns over prolonged high U.S. interest rates, driven by persistent inflation, led to fears of weakened consumer and industrial demand. Brent crude fell to $82.17 a barrel, and U.S. West Texas Intermediate (WTI) slipped to $78.31 for June. The more active July contract also decreased. […]
Fed Governor Waller Seeks Extended Inflation Improvement Before Cutting Rates
Federal Reserve Governor Christopher Waller stated that while recent data indicates inflation is easing and further interest rate hikes may not be needed, he requires several months of positive inflation data before supporting any rate cuts. Speaking at the Peterson Institute for International Economics, Waller noted the impact of higher rates on reducing demand and […]
Target Slashes Prices on 5,000 Items to Woo Inflation-Wary Shoppers
Target is reducing prices on over 5,000 items, including household staples and name brands, to attract shoppers deterred by inflation. Starting immediately, cuts on more than 1,500 items are in effect, with more reductions throughout the summer, saving consumers millions. This move follows similar actions by other retailers like Ikea and Aldi, as inflation has […]
“Are You Staring Me Down?”: Judge Merchan Becomes An Oddity In His Own Courtroom
“Are You Staring Me Down?”: Judge Merchan Becomes An Oddity In His Own Courtroom Authored by Jonathan Turley, Below is my column in the New York Post on the meltdown of Michael Cohen on the stand in the Manhattan trial of former President Donald Trump. In a trial careening out of control, Judge Juan Merchan […]
FDIC Chairman To Resign After Sexual Harassment Scandal
FDIC Chairman To Resign After Sexual Harassment Scandal In the first – but certainly not last – major shake up at a key US financial regulator under the Biden admin, Federal Deposit Insurance Corp. Chairman Martin Gruenberg bowed to pressure to resign from the bank regulator after an external investigation found widespread sexual harassment at […]
Maybe We’re Closer To “You’ll Own Nothing” Than We Realize
Maybe We’re Closer To “You’ll Own Nothing” Than We Realize Authored by Charles Hugh Smith via OfTwoMinds blog, Maybe we should rephrase the slogan to “you’ll appear to own things you don’t actually control and be happy.” The World Economic Forum’s catchphrase you’ll own nothing and be happy was widely mocked as an eyebrow-raising vision of a “sharing […]