A complete financial cleansing is overdue.

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US Continuing Jobless Claims Hit Two-Year High, Signaling Labor Market Shift

The latest US labor market data shows a mixed picture, with recurring jobless claims rising to 1.84 million in mid-June, the highest since late 2021, suggesting longer job search periods for the unemployed. While initial claims slightly decreased to 233,000, the overall trend indicates a softening labor market. The unemployment rate has increased to 4%, and hiring has slowed significantly compared to the post-pandemic recovery period. Economists and Federal Reserve officials are closely monitoring these trends to assess the labor market’s resilience and potential future developments.

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LA’s Housing Crisis: 97% of Residents Priced Out of Homeownership

Los Angeles is facing a severe housing affordability crisis, with only 2.8% of non-homeowner households able to afford a typical mortgage. This crisis is driven by high mortgage rates, extreme lack of housing supply, and soaring home prices. The median home price in LA has surged to $1,050,000, more than double the national median. Factors contributing to this crisis include strict zoning laws, high construction costs, limited land availability, and wage growth that hasn’t kept pace with housing costs or inflation. The situation is so dire that the household income needed to afford a median-priced house in California is $197,057, more than twice the average household income in the city.

This Recession Indicator With a 45 Year Track Record Just Rolled Over…

Dive into the stark realities of current U.S. economic policies with Alan Hibbard in this eye-opening analysis.