Inflation Alert! New York Fed Business Survey (New York State, northern New Jersey and southwestern Connecticut): “Employment continued to increase slightly, and wage growth picked up. The pace of price increases was somewhat higher than last month”. Inflation is not slowing down!

by Dismal-Jellyfish https://www.newyorkfed.org/medialibrary/media/Survey/business_leaders/2023/2023_08blsreport.pdf Wages and Prices expected to continue rising over the next 6 months. TLDRS: New York Federal Reserve Bank’s August 2023 Business Leaders Survey shows the region’s (New York, southern New Jersey, and southwestern Connecticut) service sector activity …

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Worst day since May 4th… Moody’s waits for a four month short covering rally to end and then downgrades bank stocks.

Moody’s waits for a four month short covering rally to end and then downgrades bank stocks.https://t.co/8o2SYHn0u5 Third wave down confirmed. pic.twitter.com/U24Azjooza — Mac10 (@SuburbanDrone) August 8, 2023 .. worst day since May 4th $KRE ⁦@CNBC⁩ pic.twitter.com/m6hKEXyKoo — Carl Quintanilla (@carlquintanilla) …

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S&P Global: U.S. corporate bankruptcies rise this year rise to second-highest level since 2010. July ranked as the second-worst month of 2023 (so far). Corporate bankruptcies surpass every year since 2010 except for the COVID-impacted year of 2020.

by Dismal-Jellyfish Source: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/july-filings-propel-2023-us-corporate-bankruptcy-tally-past-2022-s-total-76838356 US corporate bankruptcies rose again in July as high interest rates and a challenging operating environment continue to push US companies over the brink. S&P Global Market Intelligence recorded 64 corporate bankruptcy filings in July, the …

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In June, folks earned a bit more in, spent more, causing PCE, excluding food and energy (the Fed’s barometer for if inflation is still growing) to jump up .2% for the month and 4.1% year-over-year. Still more than DOUBLE the Fed’s target of 2%!

by Dismal-Jellyfish https://www.bea.gov/news/2023/personal-income-and-outlays-june-2023 Wut mean?: In June, people earned $69.5 billion more, which is a 0.3% monthly rise–more money earned more money to spend, adding to inflation… Prices of things people bought (PCE price index) went up slightly by 0.2%. Even …

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Fed Inferno! US M2 Money-Supply Growth Falls To Depression-Era Levels For Second Month In April (As M2 Money Velocity Remains Near Historic Lows)

by confoundedinterest17 It is truly a Fed Inferno! Money supply growth fell again in April from Jerome Powell And The Fed, plummeting further into negative territory after turning negative in November 2022 for the first time in twenty-eight years.  April’s drop …

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‘One month is worse than 4 years’…

More Suspected Terrorists Found Illegally Crossing Southern Border In April Than In Four Trump Years Combined Border Patrol agents caught 16 people on the FBI’s terror watch list trying to illegally cross the U.S. southwest land border between entry ports …

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