Economy

“The Wealthy Are Bringing Big Money and Luxurious Lodges to Maine’s Lakes”

““On a clear day, you can see the top of Mount Washington,” says Joanne Ricciardiello, peering through a curtain of towering oak and pine trees that surrounds her newly built, roughly 4,300-square-foot home on Maine’s Sebago Lake.  She walks down… Continue Reading…

Economy

“Annual inflation rate slows to 2.9% in July, lowest since 2021”

“The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting the 12-month inflation rate at 2.9%, its lowest since March 2021. Excluding food and energy, core CPI came in at a… Continue Reading…

Economy

“No more fiscal favours? Calls to tax super-rich gain traction around world”

“Calls for higher taxes on the super-rich are gaining traction and even conservative governments are joining in… “I don’t think I have seen such big a transformation in the narrative around the tax on wealth as I have in the… Continue Reading…

Banking, Economy

“Biden’s Treasury accused of trying to juice U.S. economy pre-election”

“The Treasury Department is being accused of trying to juice the economy ahead of the election, by changing how it finances government spending… The accusation: Short-term debt is becoming a rising share of all outstanding debt, while the share of long-term debt,… Continue Reading…

Banking, Economy

“Sinking Treasury yields signal growing jitters about ‘everything’ ahead of Friday jobs report”

“…Thursday’s post-data rally in Treasurys sent yields plunging on everything from the 1-month T-bill BX:TMUBMUSD01M through the 30-year bond BX:TMUBMUSD30Y. The policy-sensitive 2-year rate BX:TMUBMUSD02Y dropped 17.4 basis points, or the most in a single session all year, to 4.163%. The 30-year yield fell 10… Continue Reading…

Economy

“Euro zone inflation rises to 2.6% in July, above expectations”

“Headline inflation in the euro zone unexpectedly rose to 2.6% in July, the European Union’s statistics agency said Wednesday. Core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, hit 2.9% in July, which was higher than expected.… Continue Reading…

Cryptocurrencies, Economy

“Russia approves law allowing use of crypto for global payments as it faces ongoing sanctions”

“The lower house of Russia’s parliament on Tuesday approved a law that permits making international payments via cryptocurrencies, local media reported. Russia’s central bank is itself looking to move money across borders using crypto before the end of 2024, Governor… Continue Reading…

Economy

“Bashing The Rich Is Not What America’s About,” Kevin O’Leary Says of Increasing Taxes For The Wealthy”

“Well-known entrepreneur and TV personality Kevin O’Leary recently spoke on Fox News about taxing the rich in response to a caller stating, “I just want an America where I have the chance to pay less in taxes than people like Kevin O’Leary.”…”… Continue Reading…