On Wire

Breaking news, updates, and reports on current events.

Peter Schiff: Double digit annual inflation will soon be a way of life in America. Better get use to it and invest accordingly.

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The price Americans will pay for Tarp, Obamacare, PPP, and all Govt. programs that lead to the massive build up of debt since the 2008 financial crisis is #inflation. Double digit annual inflation will soon be a way of life in America. Better get use to it and invest accordingly. — Peter Schiff (@PeterSchiff) October … Read more

Federal Reserve Alert! Governor Philip N. Jefferson: ‘Restoring price stability may take some time and will likely entail a period of below-trend growth. However, I want to assure you that my colleagues and I are resolute that we will bring inflation back down to 2 percent.’

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October 04, 2022 Technology’s Impact on the Post-Pandemic Economy Governor Philip N. Jefferson At “Technology-Enabled Disruption: Lessons from the Pandemic and the Path Ahead,” a conference organized by the Federal Reserve Banks of Atlanta, Dallas, and Richmond Good morning, and thank you. It is a pleasure to be here today. I am happy to be … Read more

The fact that Elon Musk could be attacked as “pro-Russian” merely for suggesting a possible peace deal — even though he gave Starlink to the Ukrainian war effort — shows how warped and intolerant the public conversation has become.

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On Ukraine, @elonmusk learned two lessons: 1. if you suggest avoiding a nuclear war, you’ll face death threats. 2. Maybe there isn’t a “good side” in that war. (Which is what every intelligent person who understands the area said from day 1.) pic.twitter.com/eXOJJ8rPKx — Cernovich (@Cernovich) October 3, 2022 The fact that @elonmusk could be … Read more

U.S. HOUSEHOLDS to SELL $100 Billion Worth of STOCKS Next Year…

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(Kitco News) Despite a positive start to the fourth quarter, households could sell $100 billion worth of equities next year, according to Goldman Sachs. “Rising rates are causing a shift in investor mindsets from TINA (`There Is No Alternative’) to TARA (`There Are Reasonable Alternatives’), indicating a weakening outlook for equity demand going forward,” Goldman’s … Read more

Australian homeowners could be forking out more than $2000 extra a month soon, with fears they don’t realise the “shock” headed their way.

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by Boo_Randy You are not a “homeowner” until the last mortgage check clears. These Australian debt donkeys who bought into one of the world’s most insane housing bubble courtesy of the RBA are royally screwed. https://www.news.com.au/finance/economy/interest-rates/interest-rates-how-much-the-cash-rate-could-rise-by-2023/news-story/dc2d53fda7f84927a7fa94120c4dab09 Australian homeowners could be scrambling to find an extra $1000 to $2100 to make their monthly mortgage repayments, with … Read more

Upcoming $3 billion in state tax credits will disproportionately benefit high-income residents, experts say: High-income taxpayers could receive credits of more than $20,000 while a new estimate suggests low-income residents could see credits of just $9.

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To get $20,000 back you must have an income of like $3 million a year lol. If you make $100k a year you’re getting back around $650   Nearly $3 billion in excess tax revenue is set to be returned to Massachusetts residents this fall, but there’s a catch. Under a formula laid out in … Read more

Falling Chinese property ignores more support (bursting property bubble)

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by Boo_Rand https://www.macrobusiness.com.au/2022/10/falling-chinese-property-ignores-more-support/ The average new home prices in China’s 100 major cities stood at 16,200 yuan per square meter in September, falling by 0.02% from the previous month, down for the third consecutive month and weakening from the 0.01% drop in August, according to a report by China Index Academy, one of the country’s … Read more

My first month in the markets was Oct 2008. This rally is nothing.

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https://twitter.com/MacroStratChris/status/1577253088754139136 Seems hilarious.. those expecting a pivot don’t expect higher commodities prices — Alessio (@AlessioTMAD) October 4, 2022 Big miss on US job openings… Job openings in private sector declined by 1 million in August… the most since April 2020 when the whole world was locked down… everything is fine…

A $50,000 electric bill? The cost of cooling L.A.’s biggest houses in a heat wave

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  Cooling off a 1,500-square-foot bungalow in a heat wave is expensive enough. But how big are the bills for the ever-larger mega-mansions crowning our hills? Granted, those who can afford a $50-million home likely aren’t sweating a bloated electric bill, nor perhaps the carbon footprint, but experts say the cost of keeping a mansion … Read more

NYC office buildings are set to see $50 BILLION in value wiped out as nearly 54% of workers in the Big Apple continue to work from home, new research suggests

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by Boo_Randy It’s only Yellen Bux, but still…. https://www.dailymail.co.uk/news/article-11276799/NYC-office-buildings-set-50-BILLION-value-wiped-continue-work-home.html The city of New York continues to face devastating financial peril from remote work, as office buildings could potentially lose $50billion due to people doing their jobs from home. A recent study from the National Bureau of Economic Research shows that property values of office buildings … Read more