Independent thinking for complex markets and current events
In 2023, Gavin Newsom announced a $15 billion plan to address homelessness in California, emphasizing accountability. However, a state audit revealed that California had spent $24 billion on homelessness over the past five years without consistently tracking how the money was used or its effectiveness in reducing homelessness. This audit highlighted significant gaps in accountability …
Canada estimated that it will reach its 2% NATO defense spending target by 2032, according to the country’s president, Justin Trudeau said at the NATO Summit in Washington, D.C., which concluded on Thursday. Since his first presidential run, former President Trump, the presumptive 2024 GOP presidential nominee, has advocated for NATO countries to spend at …
THIS IS REALLY CONCERNING: Japan households spending declined in the last 14 out of 15 months. Meanwhile, Japan's GDP shrank at an annualized pace of 2.9% in Q1 2024, rose slightly by 0.1% in Q4 2023 and contracted by a whopping 4% in Q3. 3rd largest economy is in a recession. pic.twitter.com/FgF9ZKzkkQ — Global Markets …
(The Center Square) – As the 2024 election season gears up, a recently-released report predicts nationwide political spending will reach a record high $10.69 billion. The Political Projections Report predicts that California, Pennsylvania, and Arizona will have the highest levels of spending on advertising. The report was released on Monday by advertisement tracking company AdImpact. “This …
New Zealanders are giving up spending at a rate that surpasses the downturn of the global financial crisis (GFC), and is close to passing that of the 1980s sharemarket crash, as well as the tough times of the 1970s. Data released from Worldline on Wednesday shows June was an “especially quiet” month for retailers. Spending …
Teens Skip $50 Jeans in Squeeze of Gas, Job Shortage July 2 (Bloomberg) — The financial pressures of adults are finally catching up with American teenagers. Since summer jobs dried up, gasoline prices topped $4 a gallon and parents ran out of spare cash, teens have had to cool it on spending for clothes. “I’ve …
According to the 2024 KPMG Consumer Pulse Survey, U.S. consumers are adjusting their spending habits this summer due to inflationary pressures. Here are the key findings: Essential Goods and Services: Consumers expect to spend less on personal care products (considered essential) and restaurants, travel, and entertainment. About 21% of consumers anticipate spending more on personal care …
When even the government has to cut staff, it’s a hard landing, folks. Government spending is usually what pulls us back OUT of recessions. (I guess, finally, we’re going to get some job numbers.) — Uncle Milty’s Ghost (@his_eminence_j) July 2, 2024 ISM: manufacturing sector contracts in Jun for 3rd month in a row, and …
by confoundedinterest17 Hey big spenders (Biden, Congress and the 16 Nobel prize winning economists). June 25 (Reuters) – Sixteen Nobel prize-winning economists signed a letter on Tuesday warning that the U.S. and world economy will suffer if Republican presidential candidate Donald Trump wins the U.S. presidential election in November. The jointly signed letter, first reported by Axios, says …
BREAKING: Nike stock, $NKE, is now down over 17% today after projecting a 10% decline in revenue for the current quarter. Nike now expects 2025 sales to fall mid-single digits, compared to estimates of a 0.9% increase. It also saw traffic in China decline across all channels… pic.twitter.com/k3ALg2s9a0 — The Kobeissi Letter (@KobeissiLetter) June 28, …
Current Administration: We will spend more money to solve this problem that was created by spending too much money! — Amy Nixon (@texasrunnerDFW) June 28, 2024 Infrastructure and Climate Spending: President Joe Biden has pushed for $1.6 trillion in climate and infrastructure investments. This includes tax credits, direct spending, and grants. Approximately $125 billion has been spent …
Indeed, according to a recent survey by Empower, over 90% of Americans are planning domestic travel in 2024, with an average expected spending of $1,163 per trip. Additionally, approximately 37% of travelers are planning international trips, budgeting an average of $2,904 for each adventure. Over 90% are planning domestic travel this year, expecting to spend an …
US bankruptcies are riding rapidly: 275 large companies have declared bankruptcy through May of this year, the 2nd highest since 2010. Over the last 14 years, only 2023 saw a higher count of bankruptcy registrations, at 277. In May 2024 alone, 62 firms have gone bankrupt, the… pic.twitter.com/ymNU6fYEcr — The Kobeissi Letter (@KobeissiLetter) June 22, …
Robert F. Kennedy Jr., an outspoken critic of U.S. involvement in “forever wars,” reiterated his view that the nation should scale back its military presence abroad and shift its focus to domestic programs, during an address at the Richard Nixon Presidential Library and Museum on June 12. Mr. Kennedy did not mention the Russia–Ukraine or …
The Biden administration “strongly opposes” a proposal to raise the pay of junior enlisted service members in the military — even after nearly spending seven times the proposed amount on Ukraine and the broader region’s security. The House Armed Services Committee’s (HASC) draft of the 2025 National Defense Authorization Act (NDAA) would give all junior …
Chicago Public Schools (CPS) has indeed seen a significant increase in spending since 2012. The FY2023 proposed budget for CPS totals $9.4 billion, with $8.0 billion allocated for the operating budget, covering day-to-day expenses. This budget includes investments in core instructional priorities, staffing levels at an all-time high, and funding from the Elementary and Secondary School Emergency Relief Fund (ESSER) for academic …
Endless spending and low interest rates resulted in 40-year high inflation. Now, over half of American adults believe we are in a recession. Even with endless deficit spending, consumer sentiment is horrible. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) June 10, 2024 Food Costs are soaring to …
The Federal Funds Rate, which is the interest rate at which depository institutions lend balances to each other overnight, has indeed reached its highest level since 2007. As of May 2024, the rate was reported at 5.33%, which is a significant increase from the historic low of 0.08% in 2022. Retail spending in freefall Total card spending was down …
The same retailers that have helped to push consumer prices up by 20% over the past four years are getting desperate as shoppers aggressively tighten their spending to cope with stubborn inflation. Some of the biggest retail chains in America are on a price-cutting spree to gain back their customers now that sales are declining …
This is when the Fed finally stops gaslighting you. The economy was NEVER doing well, and it's not helping Biden anymore to lie to you about it. So, better to admit defeat and start planning rate cuts to rescue the wreckage that's coming (and that will take just as long to take… https://t.co/Zr12ujg82C — Uncle …
Consumer spending is collapsing. This chart is just ugly. Stimmies are drying up and inflation continues to pressure spending. Never forget: Consumer spending represents 70% of the economy. pic.twitter.com/tTPeM1fKMp — QE Infinity (@StealthQE4) June 2, 2024 Savings Depletion: Many households have been drawing from their savings, which may not be sustainable in the long term. The …
Credit card delinquencies are starting to go vertical pic.twitter.com/QcBcMdmbDF — QE Infinity (@StealthQE4) June 1, 2024 ‘We got to keep the consumer in the game’: Brian Moynihan worries about a spending slowdown Bank of America’s CEO says inflation has been sapping U.S. sentiment Bank of America Corp. Chief Executive Brian Moynihan said the economic …
by confoundedinterest17 I saw former President Obama criticizing former President Trump for not passing “transformative” changes. That is, Trump didn’t sign any Obama-like transformative changes (like Obamacare). Truimp did try to slow down the damage done by Obama and his transformative agenda (e.g., open borders, wealth redistritution, green energy) that Biden has attempted to continue. …
Rep Jodey Arrington criticizes Joe Biden’s budget proposal by alleging that it will lead to record levels of government spending, borrowing, and taxation, potentially exacerbating inflation, interest rates, and living costs for working families. It expresses concern that these policies could steer the country toward economic instability and a sovereign debt crisis, while also implying …
Election Day in KY! It’s a referendum on whether a guy can go to DC and vote against foreign aid, foreign wars, and sanctions, while supporting free speech, privacy, & the 2A. AIPAC claims to have spent $400k against me. They won’t be happy tonight!https://t.co/AgJY01IWPL pic.twitter.com/ovOej6R43G — Thomas Massie for Congress (@MassieforKY) May 21, 2024 …
Despite ongoing consumer pessimism, spending remains surprisingly robust. Economist Joanne Hsu, director of the University of Michigan’s consumer sentiment survey, provided insights into this paradox, attributing it to a shift in consumer behavior driven by high prices and interest rates. Key Points Americans are abandoning traditional saving goals due to perceived unattainability. Aspirational goals such …
Imagine spending $32 billion because there’s an emergency with chatbots. More handouts to mega corporations, but god forbid some poor middle city school kid needing a free lunch! “WASHINGTON (AP) — A bipartisan group of four senators led by Majority Leader Chuck Schumer is recommending that Congress spend at least $32 billion over the next …
The situation at Ballou High School in DC is emblematic of the dire state of inner-city public education in America. Despite exorbitant spending, including a $124 million building and an annual cost of $25,412 per pupil, the school fails to provide students with essential skills, with only 3% proficient in math and 5% in reading. …
In a jaw-dropping display of regulatory spending, the Biden administration allocated a staggering $875.3 billion in just one week, coming dangerously close to surpassing President Obama’s total regulatory expenditure over two terms. This unprecedented surge in spending, driven primarily by climate change initiatives, has sparked concerns about fiscal responsibility and government overreach. Despite creating fewer …
Stan Druckenmiller on Bidenomics: “If I was a professor, I’d give him an F. Treasury is still spending like we’re in a depression. We have 7% budget deficits at full employment… it’s unheard of.” pic.twitter.com/YTs0EgLkjF — unusual_whales (@unusual_whales) May 12, 2024 Whether it’s a Democrat or Republican in office we overspend. Regardless of whether or …