A hub for independent voices and hard truths
US stocks turned higher on Friday to cap a chaotic week on Wall Street, as investors weighed the latest tariff-related developments in the trade war between the US and China. The S&P 500 (^GSPC) rose 1.8% after seesawing earlier in …
"Xi can only stay the Supreme Leader if people are employed." "America is the #1 economy on earth with all the cards. We will not have that forever. It's time to squeeze Chinese heads into the wall." Kevin O'Leary calls …
*TRUMP: RAISING THE TARIFFS ON CHINA TO 125 PERCENT — zerohedge (@zerohedge) April 9, 2025 BREAKING: Trump is raising tariffs on China to 125%, but pausing tariffs on reciprocal and 10% tariffs on other countries for 90 days. This is …
by Michael I am trying to find the words to describe the economic carnage that we are witnessing right now. Even before President Trump unveiled his new tariffs, the U.S. economy was rapidly heading in the wrong direction, layoffs were soaring, and stock prices …
The stock market was pounded for a second day Friday after China retaliated with new tariffs on U.S. goods, sparking fears President Donald Trump has ignited a global trade war that will lead to a recession. Here’s a tally of the stock …
by Michael I am trying to find the words to describe the economic carnage that we are witnessing right now. Even before President Trump unveiled his new tariffs, the U.S. economy was rapidly heading in the wrong direction, layoffs were soaring, and stock …
AT WHAT COST Millions of shoppers forced to pay new fee on groceries and goods under April 1 law and they’re not happy about reason Two cities in Southern California now have the highest sales tax in the country after …
Shares of conservative news channel Newsmax plunged more than 70% on Wednesday as its meteoric rise as a new public company proved to be short-lived. The stock tumbled a whopping 77.5%, following a 2,230% surge in Newsmax’s first two days …
Latest estimate: -3.7 percent — April 01, 2025 The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -3.7 percent on April 1, down from -2.8 percent on March 28. The …
Used vehicles sold in the United States rose 16 percent from January to February “…this year’s 16% increase is the largest jump seen in recent years.” -Scott Vanner, Economic Analyst “A total of 1.57 million used vehicles were sold at …
by confoundedinterest17 The US economy is gradually recovering from Bidenomics (government/donor dictated spending). Mortgage applications increased 11.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March …
It’s alarming to see New York’s judicial system coddling violent criminals at the public’s expense. Violent offenders, some with shocking records, are released without a second thought, often before their trials even begin. In a city struggling with rising crime, …
Nvidia shares fell nearly 9% on Monday after President Donald Trump confirmed that tariffs from Canada and Mexico will go into effect on Tuesday. The company’s shares are now trading at the same price they were in September, before the …
by Mike Shedlock As borrowers struggle to keep up with car payments, auto lenders offer payment extensions to keep those loans from going bad. Car Dealership Guy reports Auto Lenders Increasingly Turn to Payment Extensions. Payment Extension Trap 60+ day auto …
by Mike Shedlock The share of spending by the top 10 percent keeps rising. Economy Increasingly Dependent on the Wealthy The Wall Street Journal reports The U.S. Economy Depends More Than Ever on Rich People Many Americans are pinching pennies, exhausted …
by Mike Shedlock A Modern Monetary Theory “Superbonus” trial is underway in Italy. The state pays 110 percent of home renovations. In an effort to stimulate the economy during Covid, MMT proponent and then Prime Minister Giuseppe Conte came up …
by Mike Shedlock Normal trade math does not add up. US imports and China exports are not in sync. China’s Bermuda Triangle UBS comments on China’s Bermuda Triangle (Download) When looking at Sino-US trade, the value of China’s exports to …
A new CNBC poll reveals a striking consensus: 73% of Americans support deploying the U.S. military to the southern border to tackle illegal immigration. The statistic signals widespread frustration over border security and immigration policies. Even within traditionally resistant groups, …
Americans are spending nearly double on eggs compared to a few weeks ago, as bird flu cases continue to affect supplies, and frozen egg storage volumes remain lower than last year. The price of a dozen eggs has risen from …
Rachel Maddow takes a $5 million pay cut, dropping her salary from $30 million to $25 million. This move follows MSNBC’s 40% ratings plunge post-election. Amid these challenges, MSNBC plans a major lineup shakeup. Maddow will still host her Monday …
by confoundedinterest17 There is one way out of the inflation trap. And it’s drill, baby, drill! For the 53rd straight month, core consumer prices rose on a MoM basis in October with the YoY pace re-accelerating to +3.33%. The shelter index increased 4.9 …
by Michael When nearly half of all small businesses are struggling so much that they can’t even pay their rent, you have an enormous economic crisis on your hands. The last time that we witnessed anything like this was during …
by confoundedinterest17 I’ll feel a whole lot better … when Kamala Harris is gone. Mortgage applications decreased 6.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 18, …
by Mike Shedlock Industrial production declined 0.3 percent in September. Negative revisions lopped off another 0.5 percent. The Bloomberg consensus was a decline of 0.1 percent. Factoring in negative and positive revisions the decline was about 0.5 percent. Blame the …
3% of American High Schoolers Identify as Transgender, First National Survey Finds A survey by the C.D.C. found high rates of sadness, bullying and suicide attempts among transgender and gender-questioning teenagers. About 3.3 percent of high school students identify as …
That would mean accountability. I am all for accountability. — floridanow1 (@floridanow1) October 5, 2024
Bears legend Brian Urlacher endorses President Trump.pic.twitter.com/6mDVleBBX8 — Citizen Free Press (@CitizenFreePres) September 29, 2024 https://polymarket.com/elections
by Mike Shedlock The third quarter is nearly over, but there is still a month of data before the next GDP report. GDPNow data from the Atlanta Fed, chart by Mish The GDPNow Latest Estimate is 3.1 percent as of September 27, …
by Michael Hundreds of millions of dollars are being spent to persuade the American people to vote for either Kamala Harris or Donald Trump. But ultimately two things are probably going to matter more than anything else. Millions of Americans will …
by Mike Shedlock I am sticking with my call of a 50 basis point cut by the Fed this month. The Jobs report on Friday and the CPI report next week will determine the fate. Tomorrow ADP will provide a …