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Economy

“House Republican infighting getting worse after foreign aid vote”

“The House came together Saturday to pass a sweeping $95 billion foreign aid package, a rare moment of bipartisan cooperation in the closely divided chamber. But the move only intensified infighting among House Republicans, who split sharply on the strategy… Continue Reading…

Economy

“China’s Boom Is Over—Beijing Is Making It Worse”

“China’s fundamental challenges—including weak demographics and heavy debts—are indeed tough. But it is also clear that much of what is plaguing China amounts to a nasty cyclical downturn exacerbated by Beijing’s poor policy choices. Tuesday’s big speech by Premier Li Qiang to… Continue Reading…

Economy

“99% of Americans will be financially worse-off than they were pre-pandemic by mid-2024, JPMorgan says”

“…”It is likely that only the top 1% of consumers by income will be better off than before the pandemic,” Kolanovic wrote, pointing to the growing signs of credit card and auto loan delinquencies, as well as Chapter 11 filings.… Continue Reading…

Banking, Economy

“The Bank of England is facing major losses on its bond purchases — and it’s set to get much worse”

“…In late July, the central bank estimated that it would require the U.K. Treasury to backstop £150 billion ($189 billion) of losses on its asset purchase facility (APF)… Raja concluded that the cost to the Treasury of indemnifying the central bank over… Continue Reading…

Economy, Personal Finance

“66% of American workers are worse off financially than a year ago due to inflation, report finds”

“…As inflation pressures continue, two-thirds of working adults said they are worse off financially than they were a year ago, according to a recent report by Salary Finance. To make ends meet, many are dipping into their cash reserves or going into debt.… Continue Reading…

Economy

“59% of Americans worry student loan forgiveness will make inflation worse, CNBC survey finds”

“…Already battling higher prices, 59% of Americans are concerned that student loan forgiveness will make inflation worse, according to a new CNBC survey,conducted online by Momentive among a national sample of 5,142 adults from August 4 to 15….” https://www.cnbc.com/2022/08/22/americans-are-concerned-student-loan-forgiveness-will-worsen-inflation.html College… Continue Reading…

Energy

“The Global Diesel Crunch Is Going To Get Worse”

“Distillate fuel inventories are low in the United States and Europe. Stockpiles in the U.S. haven’t increased this summer as usual, and in one month since the end of June, they have seen the biggest drawdown for this time of… Continue Reading…

Uncategorized

For Better Or Worse: It’s Risk Taking Time

Just letting you guys know I’m going to be on the move in the stock market. I’ll be honest here. The stock market is in shambles. It seems to me like we will be going into a deep recession maybe… Continue Reading…

Economy

“Americans are paying more for worse stuff, study finds”

“Measured by consumer prices, U.S. inflation is the highest in 40 years. Look at what Americans are actually getting for their money and the rate may be even higher, according to researchers at the University of Michigan.  The academics publish… Continue Reading…

Personal Finance

“A quarter of Americans expect their financial situation to be worse in 2022. Here’s why”

“…Fully 26% believe their financial situation will get worse in 2022 and 42% believe it will stay about the same, a survey from Bankrate found. The financial website, through YouGov Plc, polled 2,450 adults Nov. 29-Dec. 1. Respondents lay the blame mostly… Continue Reading…