On Wire

Breaking news, updates, and reports on current events.

Looking at the Economic Myth of the “Soft Landing”

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by Frank Shostak via Mises According to commentators, countering inflation requires monetary authorities to actively restrain the economy, with “experts” believing that higher interest rates need not cause an economic slump. Instead, they believe that the Fed cab orchestrate a “soft landing.” It is questionable, however. that a soft-landing scenario is possible. Money Printing Creates Economic Damage If … Read more

Still no recession? GDP consensus for Q3 is being revised down and looks set to drift below zero as September numbers go into the stats

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by silvertomars Over the four weeks through September 9, gasoline consumption dropped by 11.7% from the same four-week period in 2019. It was the steepest decline so far this year Yet inflation is still rising… I wonder what happens when consumption picks up again hmm Food inflation is still ripping… pic.twitter.com/qB1HCBUNFp — Andrew Sinclair, CFA … Read more

SPX 3200 in 4 weeks?

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Scott Minerd calls for the S&P 500 to drop 20% by mid-October, saying the bear market is intact https://t.co/CMWCmkryOh — CNBC International (@CNBCi) September 9, 2022 With inflation still raging, brace for a hard-landing recession as the Fed spikes interest rates further Consumer prices surged again last month — they’re now up 8.3% over last … Read more

Los Angeles schools tells students to eat donuts because they are healthy

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“Diet culture, fatphobia, and systems of oppression have created false hierarchies of food and show up everywhere. Remember that you do not need to ‘earn’ food… Eat without guilt, regardless of what society says,” says a video published on the Los Angeles school district’s Instagram page. Data from the CDC show about 1 in 5 American children … Read more

This winter, New Yorkers should expect an additional 40% increase in their already-expensive heating bills.

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Buy wood stoves I guess, because $500 a month heating bills are about to become a thing. via lockportjournal: ALBANY — Utility giant National Grid is urging its upstate customers to brace for much higher heating costs once temperatures plunge. National Grid’s latest pricing forecast predicts its natural gas customers will see a 39% jump in … Read more

Here is the Updated List of US-Based Food Manufacturing Plants Destroyed Under Biden Regime — You Can Now Participate and Add More Incidents on

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You know, because food is important to surviving. https://twitter.com/TheSheilaG2024/status/1570069303109746690 Below is the list of US establishments that have been destroyed, damaged or impacted by “accidental fires,” disease, or general causes. 1/11/21 A fire that destroyed 75,000-square-foot processing plant in Fayetteville 4/30/21 A fire ignited inside the Smithfield Foods pork processing plant in Monmouth, IL 7/25/21 … Read more

Rising Inflation, Falling Markets and False Facts All Point to Gold

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By Egon von Greyerz In Part I of this two-part interview series with Michelle Makori of Kitco News, Matterhorn Asset Management principal Matthew Piepenburg addresses the latest (and “official”) CPI inflation data. Higher than expected inflation figures sent risk asset markets tanking, but Matthew argues that Powell’s market-crushing rate hikes will likely continue to the tune of another … Read more

A Major Country is Imploding…

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Germany’s economy is on the brink of collapse as the energy-starved country faces a complete shutdown of its manufacturing base this winter. The best case for Germany, and the broad Eurozone, is a recession with the more likely case a depression. Investors should be concerned, as the German economy has a strong history of leading … Read more

NYC Mayor Eric Adams claims the Big Apple is ‘near breaking point’ after Texas bused 11,000 migrants to ‘sanctuary city’ – while El Paso has thousands of immigrants sleeping on the streets

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New York City Mayor Eric Adams said the city was approaching it’s breaking point amid an influx of 11,000 migrants being bussed over from Texas in protest of the country’s border policy On Monday, the city reportedly failed to properly shelter a group of 60 migrants that arrived from Texas Adams angered housing advocates after … Read more