Independent thinking for complex markets and current events
via Mike Shedlock: Fed Chair Jerome Powell delivered a message today at the annual Jackson Hole meeting. Powell reiterated the Fed’s commitment to a 2 percent target. Inflation: Progress and the Path Ahead Please consider snips from Inflation: Progress and the Path Ahead by Jerome Powell at Jackson Hole, Wyoming. emphasis mine. Today I will review our …
“Almost Time To Rage”: United Auto Workers Vote To Authorize Strikes At GM, Ford, Stellantis “We’ve been clear” to Ford, General Motors, and Stellantis about “what our priorities are,” such as a 46% wage increase, reinstating traditional pensions, and trimming the workweek down from 40 to 32 hours. The votes are in, and the results …
via Mike Shedlock: A friend of mine in the shipping business has comments on a trucking article he sent. Let’s tune in. Truck image courtesy of Produce News Truck Rates Abysmal, But Some lanes Active Produce News reports Truck Rates Abysmal, But Some lanes Active Two transportation brokers report that truck rates are extremely low without …
Sales of previously owned homes dropped 2.2% in July from June to a seasonally adjusted, annualized rate of 4.07 million units, according to the National Association of Realtors. Sales were 16.6% lower compared with July of last year. Homes sold at the slowest July pace since 2010. This count is for closings, so contracts were …
Huge shocker: the richest 10% of Americans are responsible for 40% of the greenhouse gas emissions in the United States. So all those rich people lecturing you about climate justice could probably make a huge dent in the problem if they were put on 24/7 climate lockdowns. Because obviously democracy means the 90% shouldn’t be …
via Mike Shedlock: The National Association of Homebuilders (NAHB) Housing Market Index (HMI) resumed its slide in August. Traffic remains in the gutter. The NAHB/Wells Fargo Housing Market Index (HMI) is based on a monthly survey of NAHB members designed to take the pulse of the single-family housing market. The survey asks respondents to rate market conditions …
via Mike Shedlock: The United Auto Workers (UAW) contract with GM, Ford, and Stellantis will expire on September 14. The UAW demands are outright ludicrous. A strike appears likely. UAW Demands 32-hour workweek 46 percent pay raise over 4 years Right to strike over plant closures Increased retiree benefits Defined pension plan for all workers …
The Disney+ streaming service lost 300,000 subscribers in the United States and Canada in the most recent quarter — an ominous sign for the studio as it continues to pour billions of dollars into new streaming content that is flopping with viewers. To make matters worse for its fans, the Walt Disney Company is hiking …
The United Auto Workers is seeking a 46% wage increase over four years as a part of its negotiations with the Detroit Three automakers, according to a page of the union’s written demands. The proposal would be the largest pay increase in recent memory. The proposal from the Detroit-based union that represents approximately 150,000 workers …
Cedars Sinai medical center in Los Angeles reports heart attack deaths are up 30 percent in people aged 25 to 44. pic.twitter.com/Mje5vrX3ng — Citizen Free Press (@CitizenFreePres) July 31, 2023
by Dismal-Jellyfish Source: https://www.federalreserve.gov/publications/files/large-bank-capital-requirements-20230727.pdf Wut mean?: Following its stress test earlier this year, the Federal Reserve Board today announced the individual capital requirements for all large banks, effective on October 1. Large bank capital requirements are in part determined by the Board’s stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The …
Harriet Hageman dropping truth bombs: "There's a 100 percent failure rate for sex change operations, isn't there? Because it's not possible to change your sex." pic.twitter.com/DyGlMrYup9 — Citizen Free Press (@CitizenFreePres) July 27, 2023
via Mike Shedlock: As widely expected, the Fed hiked its base interest rate by a quarter of a point. It’s the highest in 22 years. This was the 11th consecutive increase since March 2022. FOMC Statement Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in …
Remember when Disney protested Florida’s Parental Rights in Education Law, which Marxists mocked as a “Don’t Say Gay” law? Remember how neocons said DeSantis should not retaliate? Remember when Disney owned ESPN and ABC? It soon may sell them off because the company needs cash. Remember when Disney stock was $197.16? Well, it closed at …
via breitbart: President Joe Biden’s public approval rating was stuck at 40 percent in early July, close to the lowest levels of his presidency, defying White House efforts to further engage voter support. A Reuters/Ipsos poll delivered the bad news for the president as he looks to another run for office in 2024, telling Turkish President Recep Erdogan …
by confoundedinterest17 Biden’s massive spending spree (aka, Build Back Better) has a new name: Build Back Bankrupt! According to Epiq, Commercial Chapter 11 Filings Increased 68 Percent in the First Half of 2023. NEW YORK – July 03, 2023 — The 2,973 total commercial Chapter 11 bankruptcies filed during the first six months of 2023 represented a …
57% of Voters Say Joe Biden Took a $5 Million Bribe as Vice President, 66% Say He Did Discuss Business with Hunter While Pres. Joe Biden’s son, Hunter, received nothing more than a slap on the wrist from the Justice Department for two tax charges related to earnings from foreign entities, fully 57% of U.S. registered voters …
NEW YORK and CAMBRIDGE, Mass., June 16, 2023 /PRNewswire/ — Stagwell (NASDAQ: STGW) today released the results of the June Harvard CAPS / Harris Poll, a monthly collaboration between the Center for American Political Studies at Harvard (CAPS) and the Harris Poll and HarrisX. President Joe Biden’s approval rating remains at 43% and Donald Trump continues to lead their 2024 matchup, by 6 points this month. The poll …
by Dismal-Jellyfish Source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230614a.htm Recent indicators suggest that economic activity has continued to expand at a modest pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on …