On Wire

Breaking news, updates, and reports on current events.

What Inflation? Export Prices Rise 17.4%, Import Prices Rise 10.8% (Copper And Nickel Fall 4%)

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by confoundedinterest17 Ahead of The Federal Reserve meeting today, here are some interesting numbers that they won’t consider. 🙂 The US export price index (end use) for all commodities for 17.43% year-over-year in May. The import price index rose 10.83%. We were seeing a surge in commodity prices, like lumber and copper. But today we are … Read more

ROARING 20S: Aspen Mansion Sells for Record $72.5 Million… Poultry Prices Highest Ever… Is Fed Planning Escape Route?

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ROARING 20S: Aspen Mansion Sells for Record $72.5 Million… A mansion overlooking downtown Aspen has sold for $72.5 million, according to two people familiar with the deal. Appraiser Jonathan Miller said the transaction sets a price record for a single-family home in the upscale Colorado ski town. The deal follows the sale last year of … Read more

Why Stimulus Does Not Stimulate

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via Robert Blumen: Congress is hard at work on a stimulus bill. Doubtless their efforts will pay off. Does anyone stop to ask what it is about stimulus that stimulates? And what, exactly, does it stimulate? Start by spending a lot of money that the government does not have, borrow the difference, and the central bank prints … Read more

Let’s keep ignoring the housing crisis while a condo developer buys 4000 single family homes to rent by 2026.

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A Toronto condo developer is buying hundreds of detached houses in Ontario, with the plan of renting them and profiting on the housing crisis ripping across the country. Core Development Group Ltd. is building a large-scale single-family home rental operation, an unproven business model in Canada, where the market is fragmented and individual investors lease … Read more

Blow baby blow!! Biblical bubbles don’t keep inflating themselves Jay!!

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Blow baby blow!! Biblical bubbles don’t keep inflating themselves Jay!! Junk-rated borrowers of all stripes sold a record amount of notes in May, and even first-time issuers have met highly receptive buyers. This has pushed junk bond yields to a record low 3.74%. @business pic.twitter.com/kYHx1Gt1ir — Danielle DiMartino Booth (@DiMartinoBooth) June 14, 2021 MicroStrategy said … Read more

If you can’t get sustained inflation even with $10 trillion in intervention then the organic economy is in a truly sorry state.

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https://twitter.com/NorthmanTrader/status/1404486221221478401 https://twitter.com/NorthmanTrader/status/1404476734431453189 https://twitter.com/MFHoz/status/1404491291417796612 59 COUNTERPARTIES TAKE $583.9B AT FED'S FIXED-RATE REVERSE REPO — zerohedge (@zerohedge) June 14, 2021 pic.twitter.com/N4WnDTbYIX — conspiracybot (@conspiracyb0t) June 14, 2021 FOMC Preview: "It's Like The Titanic Running At Full Speed. In Fog. At Night" https://t.co/DW360de33k — zerohedge (@zerohedge) June 15, 2021

Biden/Putin Showdown: Fireworks…Or Duds?

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by Daniel McAdams and Ron Paul of Ron Paul Liberty Report Joe Biden will meet his Russian counterpart for the first time as president. Will this meeting herald a new stability in US/Russia relations, or will it devolve into US lectures and Russian counter-lectures? Can Joe hold his own with Putin? Also today: Andy Slavin is a very bad and … Read more

House Republicans Focus on Big Tech’s Relationship With China… U.S. and EU Begin Preparing for “High-Tech” Divorce From China

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House Republicans zero in on Big Tech’s relationships with China Cathy McMorris Rodgers, R-Wash., the top Republican on the powerful House Energy and Commerce Committee, told GOP members of the panel in a memo Wednesday about a new third pillar of their “Big Tech Accountability Platform” focused on China. The expansion of the platform signals … Read more