Independent thinking for complex markets and current events
Sen. Rand Paul (R-Ky.) says he “won’t vote for” a reconciliation package that is not fully paid for with real spending cuts, he told Axios. Why it matters: A “no” from Paul would be an early reminder that even the Senate’s safer bet for a quick win isn’t a sure thing. The House is mired in debate over …
We could see a limit down day tomorrow based on the budget freeze — QE Infinity (@StealthQE4) January 28, 2025 Recession guaranteed after today’s Federal Funding Freeze? You decide. pic.twitter.com/0s36NT0gFz — QE Infinity (@StealthQE4) January 29, 2025 White House rescinds federal funds freeze memo… The White House formally rescinded a controversial memo that had ordered …
Woke items: ‘Midnight Stroll Transgender Cafe’ https://www.foxnews.com/politics/la-county-cut-fire-budget-while-spending-heavily-dei-woke-items-midnight-stroll-transgender-cafe First, the LA fire department’s budget actually increased by more than 7% compared to the previous fiscal year: https://www.latimes.com/california/story/2025-01-10/how-much-did-the-l-a-fire-department-really-cut-its-budget Second, LA county has a budget of $49.2 billion for the 2024-2025 fiscal year (source). The amount allocated to the Gay Men’s Chorus of Los Angeles ($14,010), for instance, …
Musk And Ramaswamy’s DOGE Is Hiring 'A Small Number' Of Full-Time Salaried Employees https://t.co/rUTlgcNuUE #OAN — One America News (@OANN) January 9, 2025 The Department of Government Efficiency (DOGE), led by Trump allies Elon Musk and Vivek Ramaswamy, recently announced that the new organization is recruiting for a “very small number” of full-time positions. Although …
Who could have possibly guessed Wikipedia went Wokepedia pic.twitter.com/qqhEkyx4h9 — Wall Street Apes (@WallStreetApes) December 24, 2024 Wikipedia's editors bias and lack of objectivity is evident. Thousands signed this manifesto:https://t.co/0lE9TtS9sV pic.twitter.com/JIrIRIocYz — Daniel Lacalle (@dlacalle_IA) December 24, 2024 One the craziest things ever said in America https://t.co/dBe8j68dlG — Elon Musk (@elonmusk) December 24, 2024
The MTA is putting ink to paper its final budget for 2025, and next year could cost riders more to take the rails. The $20 billion budget includes a summer fare hike, and that’s on top of congestion pricing that is set to begin just after the start of the new year. NBC New York’s …
by Martin Armstrong What began as a special military operation has turned into the start of the next world war, and Russia is paying heavily. Russian President Vladimir Putin passed a new budget over the weekend that will allocate 32.5% of the total budget (13.5 trillion rubles) for FY25 to defense spending, which accounts for …
Laura Graves and her husband, Samuel, never thought they’d be raising their two children in an apartment, but they say the housing market has left them with little choice. Over the past three years, the couple, who are both 36 and live in a suburb of Portland, Oregon, have been looking for a home. They …
Musk wants to SLASH $2 TRILLION from Harris / Biden budget.. Department of Government Efficiency Day 1.. pic.twitter.com/lDVEP1b9LG — Chuck Callesto (@ChuckCallesto) October 29, 2024
Elon Musk claimed he can eliminate at least $2 trillion from the federal budget, laying out his vision for substantial government spending cuts if Donald Trump wins the presidency. “Your money is being wasted,” Musk said Sunday at a rally for Trump in New York’s Madison Square Garden. “We’re going to get the government off …
By Martin Armstrong The United States Treasury reported a $1.833 trillion budget deficit for the fiscal year ending September 30. This marks the third-highest deficit on record, but it is solely due to government spending. The highest deficit happened in 2020 during the disaster of COVID, and second behind is the clean-up year of 2021 …
“Inflation driven price increases aren’t letting up, and neither are inflationary budget deficits that are likely going to keep going higher, regardless of which candidate begins a new Administration in January. Source: CBO” Inflation driven price increases aren't letting up, and neither are inflationary budget deficits that are likely going to keep going higher, regardless …
If you think this all ends with a balanced budget, decreasing federal debt, and low inflation, you are not paying attention. pic.twitter.com/SYjXkw1i9G — James Lavish (@jameslavish) October 3, 2024 US banks made a $1 trillion from Federal Reserve’s 2.5 year era of high interest rates, an analysis of official data by the Financial Times has …
UK yields are rising after Prime Minister Starmer warned that his government’s October budget statement will be “painful” and asked the nation to accept “short-term pain for long-term good” in his first major speech in office. https://t.co/T90KgMhLN0 pic.twitter.com/VDRyTM20VN — Lisa Abramowicz (@lisaabramowicz1) August 27, 2024
The University of New Orleans is experiencing significant financial challenges, leading to layoffs and budget cuts. This situation is part of a broader trend affecting many urban-serving institutions. Here are some key points: University of New Orleans: The university is facing a $15 million deficit due to years of declining enrollment. As a result, they plan …
The CBO fiscal budget releases have pointed to two write downs of EIDL loans in the past 13-14 months. https://t.co/JR3ZRjRkJI — Neely (@NeelyTamminga) July 10, 2024 What’s curious to me @FreightAlley is that most did not have to put up personal guarantees for the EIDL loan, unlike a typical SBA. Loans < $200K didn’t require …
WASHINGTON (Reuters) – The U.S. budget deficit will jump to $1.915 trillion for fiscal 2024, topping last year’s $1.695 trillion gap as the largest outside the COVID-19 era, the Congressional Budget Office said on Tuesday, citing increased outlays for student loans, Medicaid, bank failure costs and aid to Ukraine and Israel. The CBO said these …
A California State Legislature committee has approved a bill that could allocate a staggering $800 billion for slavery reparations. This sum is more than 2.5 times the state’s annual budget. Notably, California was never a slave state historically, yet it will be paying individuals who themselves were never enslaved. The decision reflects an acknowledgment of the long-lasting harm endured …
A record $8.9 trillion of government debt will mature over the next year, see the first chart below. The government budget deficit in 2024 will be $1.4 trillion according to the CBO, and the Fed has been running down its balance sheet by $60 billion per month. The bottom line is that someone will need …
The recent insights into consumer sentiment and economic outlook paint a complex picture of financial strain and diverging spending patterns across different segments of the economy. With 31% of recent home buyers citing financial challenges like budget constraints and high interest rates, it’s clear that affordability concerns are widespread and impacting major purchasing decisions. Moreover, …
Rep Jodey Arrington criticizes Joe Biden’s budget proposal by alleging that it will lead to record levels of government spending, borrowing, and taxation, potentially exacerbating inflation, interest rates, and living costs for working families. It expresses concern that these policies could steer the country toward economic instability and a sovereign debt crisis, while also implying …
Stan Druckenmiller on Bidenomics: “If I was a professor, I’d give him an F. Treasury is still spending like we’re in a depression. We have 7% budget deficits at full employment… it’s unheard of.” pic.twitter.com/YTs0EgLkjF — unusual_whales (@unusual_whales) May 12, 2024 Whether it’s a Democrat or Republican in office we overspend. Regardless of whether or …
Biden just proposed the highest capital gains tax in history pic.twitter.com/CuiDXbJum6 — Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews) April 24, 2024 President Biden’s Budget proposal for Fiscal Year 2025 has ignited intense debate and scrutiny, particularly regarding plans to raise capital gains rates. The proposed increase to 44.6% has drawn widespread attention, but a …
As New York unveils its staggering $237 billion state budget, concerns mount over its long-term implications, particularly for New York City. The decision to institutionalize a temporary surcharge on high-income earners amidst rising out-migration and quality-of-life concerns raises questions about the state’s fiscal responsibility and its impact on urban centers. Key points: New York’s latest …
With more than half of budget hotel rooms sitting empty, the hotel industry faces a significant downturn as inflation-weary travelers tighten their belts. Preliminary data reveals a 5% drop in occupancy rates compared to last year, signaling a stark decline in revenues per available room amid the economic challenges posed by inflationary pressures. I discussed …
via moneymetals: It was deja vu all over again. The Biden administration ran yet another massive budget deficit in March. Tax receipts were up last month compared to February, but so was spending. That led to a $236.46 billion budget shortfall, according to the latest Monthly Treasury Statement. With another huge monthly deficit on the books, …
In fiscal year 2024, U.S. national debt interest has exceeded spending on the military. The federal government spent $412 billion on military programs at the Department of Defense during the first half of FY2024. However, the rapidly growing cost of servicing the national debt surpassed military spending. Interest expenses from the $34 trillion national debt totaled $440 billion in the first six months of FY2024, representing a 43% increase from …
Democratic lawmakers came to an agreement Friday to reduce the state’s multibillion-dollar deficit by $17.3 billion through a combination of spending cuts, delays and deferrals, a deal reached behind closed doors Republican lawmakers quickly labeled as “gimmicky.” “This most recent deal that he’s touting is all reliant on budget gimmicks, cause shifts and deferrals, which, …