A hub for independent voices and hard truths
Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country’s overall growth. That’s according to the International Monetary Fund’s latest staff report on …
The second of back-to-back atmospheric rivers battered California on Sunday, prompting the first-ever warning for hurricane-force winds in the state’s history. California is bracing for what could be days of heavy rains, flooding on roads and knocking out power to …
by Michael Wow, our economic problems really are starting to accelerate at a shocking pace. I know that I have been writing about layoffs a lot lately, but what is happening to the employment… Continue reading by subscribing. Username Password Remember …
Saudi Arabia’s fourth-quarter real GDP fell 3.7% year-on-year, according to flash estimates published by the General Authority for Statistics on Wednesday. That’s a smaller drop than the 4.4% year-on-year slide in the third quarter. The drop was attributed to a …
via Mike Shedlock: Housing starts and permits continue to flounder as completions slowly rise. Housing data from Census Bureau, chart by Mish. Housing starts dropped 6.6 percent in December according to the Census Bureau’s New Residential Construction Report. Building Permits Privately-owned …
via Mike Shedlock: Trump wins Iowa easily. Results declared with only 3% of the vote in. Surprisingly, immigration, not the economy is the top concern. The above clip from the Wall Street Journal. Live Stream Trump was declared the winner …
by Michael We experienced a tremendous amount of economic turbulence in 2024, but at least the employment market was relatively stable. Unfortunately, that period of relative stability appears to be ending. The pace of layoffs really seemed to pick up …
That’s a massive chunk of cash now ready to spend! Money Market Funds Record: $1.3 Trillion has flowed into money market funds this year, the largest amount in history pic.twitter.com/VRylKN9kLw — Win Smart, CFA (@WinfieldSmart) December 24, 2023
The layoffs, which mostly hit commercial operations and related corporate functions, comes one day after the robotaxi subsidiary dismissed nine “key leaders.” The moves are fallout from the company’s response to the Oct. 2 incident in which a pedestrian was …
The Biden administration made two virtue-signaling proclamations at last week’s COP28 conference in Dubai that it says will help save the planet from climate change. The policies aren’t likely to change the planet’s temperature by even one-tenth of a degree, …
Summary: Inflation was flat in October from the previous month, providing a hopeful sign that stubbornly high prices are easing their grip on the U.S. economy. The consumer price index, which measures a broad basket of commonly used goods and …
https://twitter.com/BeRuzzia/status/1718131312219824235?ref_src=twsrc%5Etfw Russia’s Central Bank on Friday raised its key interest rate by two percentage points to 15 percent, a bigger increase than expected as the bank said it was trying to bring down stubbornly high inflation. The central bank, …
by theSilverVigilante Strong US dollar backing away from 107. Oil tanks from hitting $95 overnight. A weaker dollar and weaker oil coinciding with a completely flat precious metals movement and completely flat equity markets. This is the confusion before the …
Republicans say billions of taxpayer dollars have been wasted based on unused federal office space and employees taking advantage of the White House’s liberal work from home policies. Damning reports reveal government employees have been in meetings while taking bubble …
US records highest credit card debt level at $1.03 trillion, 4.6% increase from Q2, with 20.63% interest rate, 47% cardholders carry monthly balances, and $7,227 average debt, with Connecticut and New York having the highest. ✅ US credit card debt …
via Mike Shedlock: In a recent interview with Larry Kudlow on Fox news, Trump proposed a “ring around the collar” of the U.S. economy, “When companies come in and they dump their products in the United States, they should pay, …
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 …
“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 …
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, …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
