On Wire

by Frank Shostak via Mises Speaking at Jackson Hole, Wyoming, on August 26, 2022, the chair of the Federal Reserve, Jerome Powell, said the Fed must continue to raise interest rates—and keep them elevated for a while—to bring the fastest inflation in decades back under control. Powell said that a tighter interest rate stance is likely to come … Read more

CITIGROUP $C IS WARNING THAT FINANCIAL CONTAGION HAS SPREAD SO FAR ACROSS CHINA’S PROPERTY INDUSTRY THAT EVEN STATE-BACKED DEVELOPERS ARE AT RISK OF SURGING DEFAULTS $60 trillion property market imploding in China $FXI $KWEB $BABA $JD $PDD — Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews) September 19, 2022 The “massive” correction in China’s commercial real … Read more

The German government is closing in on an agreement to nationalize gas giant Uniper SE, as Berlin moves to stave off a collapse of the country’s energy sector. A provisional agreement between the government, Uniper and its main shareholder, Finland’s Fortum Oyi, has been reached, according to people familiar with the situation. While contracts haven’t … Read more

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Chinese citizens have been urged not to make skin-to-skin contact with recently arrived foreigners, after the first case of monkeypox was registered in the southwestern Chongqing municipality last week. The warning was issued on Saturday by Wu Zunyou, the chief epidemiologist at the Chinese Center for Disease Control and Prevention (CCDC). Writing on his official … Read more

.@dananessel’s campaign is going so poorly, she’s being booed off the stage in a Biden +10 area. It’s what happens when you put criminals first and victims last. We’re gonna change that this fall. #FireNessel pic.twitter.com/Z1EssEKvVd — Gustavo Portela (@gusportela) September 16, 2022

Are the central planners saying “take that Putin” or are they really saying “take that European, African, and South American plebs?” — George Gammon (@GeorgeGammon) September 20, 2022

by silvertomars lol. pic.twitter.com/vOeaWrjWPn — Sven Henrich (@NorthmanTrader) September 20, 2022 U.S. 2-YEAR TREASURY YIELD HITS HIGHEST SINCE NOVEMBER 2007 AT 3.973%, UP 3 BPS ON DAY — *Walter Bloomberg (@DeItaone) September 20, 2022 How far will the Fed go? Expectations for the terminal rate have climbed to 4.4%, after which the market would anticipate … Read more

Since January 2021, Mayor LaToya Cantrell has spent roughly $29,000 extra on airfare so she can fly business or first class instead of coach, despite a city policy that forbids employees from doing so, records show. The city’s longstanding travel policy directs employees to pay the difference in price when they opt for seats in any section other than coach. Cantrell … Read more

WASHINGTON (AP) — The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after President Joe Biden issued an executive order in March calling on … Read more

New York City shelters are so overwhelmed by the migrant crisis that Mayor Eric Adams is considering using cruise ships as temporary housing. “We examined everything from the legality of using any type of cruise ship for temporary housing,” Hizzoner said during an interview on WCBS Sunday. “We’re looking at everything to see, how do … Read more

AN adult member of the Boston public schools community has been diagnosed with monkeypox, according to officials. Health and school officials have notified families about the diagnosis and said the impacted building was disinfected over the weekend. The affected school has not been identified and neither has the job title of the infected adult, WCVB reported. “If … Read more

Your best for understanding the 2022-23 Housing Crash is understanding what happened during the last Crash (lasted roughly 5 Years from 2007-12). Metros with the biggest price declines were: 1) Expensive2) Speculative3) Built Lots of Homes — Nick Gerli (@nickgerli1) September 19, 2022 Some of the markets are the same as 2007. Others are different. … Read more

New legislation in Albany is hoping to provide some relief to workers who are on their feet all day. The physically taxing dilemma has deep roots in New York. (And was memorably captured on an episode of “Seinfeld” where George convinces a store to let the security guard sit down… the guard promptly falls sleep, … Read more

The unprecedented raid on Trump’s estate has been widely criticized by Republicans and some Democrats. Former Fox News host Megyn Kelly, for instance, noted on her podcast a week after the raid that it was “bulls**t,” adding that she believes it was politically motivated. “This is about January 6. If you believe this has to … Read more

A banker recently told me that CEOs “would have to do something pretty special to fall into bankruptcy” the last couple of years as government pumped massive liquidity into the market, on top of the pandemic handouts. That’s now changing, possibly quickly, with the Fed raising interest rates and reducing the size of its balance … Read more

Stagflation case is strengthening China’s economy is rebounding and so is the industrial production! China represents more than 50% of global demand for raw materials, and given the shortage, premiums will remain elevated bolstering inflation at a global level. pic.twitter.com/Go4s3TE1Ko — Alessio (@AlessioTMAD) September 18, 2022 US CPI core (ex food & energy) signals persistent … Read more

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