A handful of Democrats want to hold up a $2 trillion infrastructure bill to save a choice tax deduction for the wealthy, not that you'll hear it described that way...
Why Illinois Is In Trouble: 122,258 Public Employees Earned $100,000+ Costing Taxpayers $15.8 Billion
"Fools, as it has long been said, are indeed separated, soon or eventually, from their money. So, alas, are those who, responding to a general mood of optimism, are captured by a sense of their own financial acumen. Thus it has been for centuries;
America has turned into a consumption economy. The problem is, economies can't run on consumption...
Texas and New York saw the biggest drops in claimants as Virginia and Inidiana saw the biggest rise...
After unexpectedly plunging in February (exaggerated by weather conditions), analysts expected existing home sales to continue to slide in March as affordability (inventories and rates) squeeze the marginal panic-buyer at record high prices
Would you pay $100 for a sheet of plywood? I know that sounds absolutely crazy, but we are almost there.
What will happen to the US Dollar? With the government pumping money into the economy, how soon until the value of the dollar goes down the drain? Join Ken McElroy and famed economist Peter Schiff in a discussion about inflation in 2021, the value of
Less than a week ago, we published an article explaining that the ongoing "Supply Chain Collapse Leads To Lumber Frenzy, Soaring Home Prices."
Commodities have been the talk of the town over the past several months, with grains, energy, and metals reaching new multi-month highs over the 12 months. And this has lead to concerns over input costs… and inflation.
"So much for the idea that the Fed is independent when you have a former Fed chairman admitting that he lied in order to push a narrative that the Bush administration wanted the country to believe - that everything was great and there was nothing to
Even though the stock market has been booming and the corporate media is full of talk about "recovery", there are many communities in the United States where a permanent atmosphere of despair seems to hang in the air.
New York City millionaires quickly realize their hometown has transformed into a socio-economic disaster that could rival the 1970s in terms of crime, unemployment, and taxes. Many have made a beeline for neighboring Greenwich.
"Stunning Divergence": Latest Bank Data Reveals Something Is Terminally Broken In The Financial System
For his weekly Flow Show report, BofA's Michael Hartnett picked a remarkable front cover chart, one showing that the 76% jump in US stocks from Mar'20 lows is now the 3rd largest YoY move in the past 100 years.
U.S. Financial Markets Have Become A Giant Mirage Built On A Foundation Of Fraud
US equity futures and global stocks rose to new record highs and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the covid pandemic.
If there has been one surefire beneficiary of the Fed printing trillions of new dollars and bailing out the entire U.S. economy at the cost of what will likely be a hyperinflationary disaster in the future, it has been the housing market.
In December of 2019, I wrote about Dimon's delusional view of economic realities. To wit:
There are endless rankings of the US states: whether they are the best places to live, the best places to do business, how much fun they are. Such judgements are made by economists, companies, and journalists – but what do Americans themselves thin
Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. Federal Reserve Chairman Jerome Powell said this is sustainable – for now.
Five states filed a lawsuit against a provision in the $1.9 trillion stimulus bill that Biden recently signed.
New York to Give $2.1 Billion to Illegal Aliens with COVID Relief Funds that Were Used to Bail Out Blue States
...the drop in claims was largely driven by a 75,645 drop in California...indicative of the problems that remain in processing claims, backlogs and fraud in the states.
US Industrial Production rose just 1.4% MoM (vs +2.5% expected)...
MALL VACANCY RATES AT AN ALL-TIME HIGH
For most of the ninety years since James Truslow Adams coined the term American Dream, most Americans still believed the fairy tale of the American Dream...
Rowe knows the value of hard work, so it's worth taking his recent warning on minimum wage hikes seriously.
...proposal would allow for a loan modification that would give homeowners the option to EXTEND their loans in forbearance by no more than 480 MONTHS…which is 40 YEARS…without AN increase to that persons interest rate.
CPI Basket Case On Sunday on '60 Minutes', Fed Chair Powell said "We can wait to see actual inflation before we raise interest rates."