Inflation rises as the cost of living crisis deepens

by Shaun Richards Yesterday we looked at the Bank of England and an apparently desperate attempt to stop house prices turning south. But also there was the issue of their failures on inflation which its Chief Economist seems to think can be corrected with some more measly 0.25% interest-rate rises. This morning’s inflation numbers release … Read more

WH Economic Predictions Will Age Poorly

Economists have warned that the United States is headed towards a deep recession within the next year, but White House press secretary Karine Jean-Pierre claimed during a Thursday press conference that might not be the case. Responding to a reporter’s questions from inside the James S. Brady Press Briefing Room, Biden’s press secretary said that the United States is … Read more

Armstrong: Consumers Spend More on Less

by Martin Armstrong Consumer spending, a main indication of the nation’s economic health, has remained strong despite rising inflation. Personal spending increased 0.9% in April, while March’s figure was revised to 1.4%. Obviously, people have been spending more on less due to sky-high prices. May’s figure will be released later in the week, but American … Read more

1000 Southwest Airlines Pilots on Strike…

"Starting at 9 a.m., over 1,000 Southwest Airlines pilots lined up along Mockingbird Lane in front of Dallas Love Field protesting better treatment after what has been a chaotic past two years since the pandemic."https://t.co/RrxBjbtXWR — Fifty Shades of Whey (@davenewworld_2) June 21, 2022

Bay Area Housing: Mortgage on Typical Home Now $9,100 in San Jose, $8,100 in San Fransico

#Update:San Francisco: Mortgage payments on a typical home are now $8,117 per month. Up 52.8% in one year. San Jose: Mortgage payments on a typical home are now $9,136 per month. Up 57.1% in one year. Source: @zillow — scott budman (@scottbudman) June 21, 2022 https://www.nbcbayarea.com/news/local/making-it-in-the-bay/bay-area-housing-mortgage-on-typical-home-now-9100-in-san-jose-8100-in-sf/2924877/

Student Kicked Out of UK College For Supporting Deportation of Illegal Immigrants

‘Today my college has refused to take me on for a second year because I made some tweets they didn’t like about Rwanda,” tweeted Liam O’Malley. “That is the state of Modern Britain.” https://twitter.com/PendleShepherd/status/1538958620456628224 According to O’Malley, he has been effectively expelled from Burnley College for endorsing the Conservative government’s immigration policy. Although it has … Read more