The third revision of Q1 GDP is supposedly ancient history, but still there was some noise in this morning’s numbers that wasn’t all that.
It looks like the Fed still has a lot of anti-inflation wood to chop. The April Case-Shiller 20-City Average came in at a record +21.2% on a Y/Y basis, thereby topping by a considerable margin peak gains during the Greenspan housing bubble. Yes, they don’t include housing prices in the CPI or PCE deflator anymore, …
Washington’s cowardly proxy war against Russia reached a new level of absurdity over the weekend.
Things have come to a pretty pathetic pass when it takes Vlad Putin to explain why inflation is at 8.6% Y/Y and heading fast toward double digits.
Who said Joe Biden isn’t in touch with main street America?
The Biden Administration’s utterly idiotic plan to enact a three-month holiday from the 18.4 cents per gallon Federal gas tax should be a wake-up call with respect to a far broader and more destructive threat. To wit, the US economy has lost its market-based bearings and is now behaving like a spasmodic heap of discord, …
Now we know. The only thing worse than the bad fiat money of the central banks is the fake crypto coins that Wall Street speculators threw into their steaming pots of speculation as the Everything Bubble reached its apotheosis.
The more officialdom fiddles with the economy, the more stuff goes awry or even kerflooey. The latest instance is the new auto market, where vehicles for sale are still ultra-scarce but even then dealers have the wrong models on their showroom floors.
With interest rates soaring, Warren Buffett’s famous aphorism about the looming exposure of the naked swimmers when the tide goes out is again having its moment. And its quite simple: Massive debts have been accumulated by all sectors of the economy over recent decades, but the tariff appeared manageable for much of that time because …