economy

AP reports Russia’s resilient economy, with 2.6% growth amid Western pressure. Stable despite sanctions.

AP: Russia's economy is growing despite Western pressure After more than two years of the special operation in Ukraine, little has changed economically for most Russians. And this despite large-scale sanctions that have seriously limited Moscow’s trade with Europe, the United… pic.twitter.com/6HPQ1aUAQv — Sprinter Press (@SprinterPress) March 12, 2024 https://apnews.com/article/russia-economy-putin-election-ukraine-97a5f92113e54cd9af0aa31778069a3e An interesting graph from Sky …

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They keep telling me the economy is booming, but I keep finding stories like these…

Here’s how many Americans are having sex to save on heating bills amid surging utility costs. “Though electricity costs dropped more than 20% in 2023, according to the US Bureau of Labor Statistics’ Consumer Price Index, they’re still up 29% from January 2020. Northeastern households that use natural gas were expected to spend about $760 on …

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Europe enters ‘War Economy Mode’. All industry now to support arms and weapons production

BRUSSELS (Reuters) – The European Commission will propose on Tuesday ways for the European Union to boost its arms industry so it can shift to “war economy mode” in response to Russia’s invasion of Ukraine. Thierry Breton, the European industry commissioner, will lay out proposals to encourage EU countries to buy more weapons together from …

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Cereal For Dinner: As The Economy Implodes, The CEO Of Kellogg Is Trying To Convince Americans That Frosted Flakes And Froot Loops Are A Cheaper Alternative

by Michael Would you eat Cheerios for dinner?  What about Lucky Charms?  Many years ago when I was a college student, I would often eat cereal instead of a normal meal in the evening.  Needless to say, that wasn’t good for my health at all.  But now “cereal for dinner” has become quite trendy.  Food …

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Beijing warns China’s US$63 trillion financial sector: serve the real economy and enrich lives

China’s financial sector needs to focus on supporting the real economy and must refrain from “fake financial innovation”, state media has proclaimed amid a tightening of regulations as Beijing seeks to flex its financial might. In what is widely believed to be a warning against capital idling and speculative activities by banks and lending institutions, …

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The economy of Germany is seeing something of a depression

via notayesmanseconomics Some mornings the economic news sets something of its own agenda and today has been an example of that since this was released earlier. HCOB Flash Germany Manufacturing PMI Output Index(4) at 42.1 (Jan: 45.7). 4-month low. That provided quite a bit of food for thought as we had come into 2024 thinking …

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The Sisyphus Economy! Top 1% Of Earners Gaining Wealth Relative To Middle Class Thanks To The Federal Reserve And Federal Government Policies (Top 1% Have More Wealth Than The Middle Class)

by confoundedinterest17 According to mythology, Hades made King Sisyphus roll a huge boulder endlessly up a steep hill in Tartarus. Unfortunately, the modern day version of Sisyphus is the middle class pushing a boulder endlessly up a steep hill while the top 1% (the elite class) horde more and more wealth. An example of the Sisyphus economy? …

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Central banks are going to crash the global economy

Across the globe, the story is much the same, with each central bank facing its unique set of challenges. The United States is wrestling with stubborn inflation and a labor market that’s surprisingly robust, leading traders to second-guess the Federal Reserve’s stance on easing up anytime soon. Meanwhile, the euro area, having narrowly dodged a …

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Japan is no longer the world’s third-biggest economy despite its stock market peaking

Japan’s gross domestic product shrank by 0.4% in the last quarter of 2023, the Japanese Cabinet Office said — far below the 1.4% growth estimate. This followed a third quarter of 2023 in which GDP growth shrank by 3.3%. Most economists officially define a recession as “two consecutive quarters of economic contraction,” CNN said, so …

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Chinese economy in major crisis…

China ‘had 20 plates spinning’, and they are all crashing right now, says Hayman Capital’s Kyle Bass Kyle Bass on China: "This is just like the U.S. financial crisis on steroids." pic.twitter.com/UHD0yJ6A8p — Win Smart, CFA (@WinfieldSmart) February 14, 2024 h/t Digital mix guy Spock

Just Wait Until You See What Happens When They Realize What Is Really Happening To The Economy…

by Michael If stock prices are going to start plunging just because inflation is running a little bit hotter than expected, what is going to happen once the market finally realizes that the entire economy is literally starting to come apart at the seams?  Consumer delinquency rates are spiking, the commercial real estate crisis is rapidly picking …

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Frank Giustra: Most folks are not benefiting from the “strong” economy

Cuz most folks are not benefiting from the “strong” economy. Its all about the debt, folks. Only the wealthy benefited from years of appalling fiscal & monetary policy. The much-too-late rate hike is now hurting low & middle income people the most. https://t.co/FYvLs5ipQd — Frank Giustra (@Frank_Giustra) February 11, 2024 Steven F. Hayward, a professor …

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Biden’s Wreck Of The US Economy! Mortgage Demand Fell To New 30-year Low In January, Down 54% From Pandemic Peak (Mortgage Demand Down 14% Over Last Year And 40% From Pre-Pandemic Levels)

by confoundedinterest17 Yikes! Bidenomics is a disaster! MBA mortgage purchase applications are down 54% from Pandemic Peak. I was going to play “The Wreck of the Edmund Fitzgerald” by Gordon Lightfoot and rename it “The Wreck of The US Economy.” Mortgage demand fell to a new 30-year low in January 2024, down 54% from the pandemic …

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Critical Voices on China’s Economy Vanish Amid Censorship Surge… Authorities Emphasize Positive Outlook, Warn Against Economic Criticism.

Concerns rise as critical commentaries on China’s struggling economy vanish from the internet, indicating increased censorship. Chinese authorities, including top intelligence agencies, emphasize promoting a positive economic outlook amid challenges. Censorship targets negative financial analysis, with warnings against “denigrating China’s economy.” Crackdown extends to renowned economists, analysts, and media coverage on financial struggles and poor …

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Famed Analyst’s Final Forecast Is Fall of U.S. Economy.

Richard X. Bove, the outspoken financial analyst, retired last week but quickly returned, sharing a grim outlook on the U.S. economy. Bove predicts the end of the dollar as the world’s reserve currency, foreseeing China’s economic dominance. He criticizes fellow analysts as “monks praying to money” for avoiding mainstream financial system critique. https://archive.is/txNeV#selection-449.0-479.162

Is The U.S. Economy Actually Growing?

by Michael Okay, so they want us to believe that the U.S. economy grew at a very brisk pace during the fourth quarter of 2023 even though mass layoffs are happening all over America, sales of previously owned homes are at the lowest level in 28 years, homelessness is rising at the fastest pace ever recorded, and survey …

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The Fed Prepares for a Bank Crisis While Telling Americans the Economy is Strong

by Tho Bishop Last Thursday, Bloomberg reported that federal regulators are preparing a proposal to force US banks to utilize the Federal Reserve’s discount window in preparation for future bank crises. The aim, notes Katanga Johnson, is to remove the stigma around tapping into this financial lifeline, part of the continuing fallout from the failures of …

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Resilient: The U.S. economy grew at a 3.3% pace in the fourth quarter, much better than expected

https://www.cnbc.com/2024/01/25/gdp-q4-2023-the-us-economy-grew-at-a-3point3percent-pace-in-the-fourth-quarter.html The economy grew much faster than expected in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and services produced, increased at a 3.3% annualized rate in the fourth …

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How to Navigate Our Low-Trust, Increasingly Dysfunctional Society and Economy

Authored by Charles Hugh-Smith via oftwominds, Politicians and corporate managers have an enviable record of self-enrichment but very little to show in terms of putting the long-term interests of the citizenry above their own short-term gains. This week’s focus is on self-reliance, a topic of increasing relevance than is more complex that it may seem. …

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