US Real Average Hourly Earnings “Rise” To -1.2% YoY While Core Inflation Decreases Slightly To 4.3% YoY

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by confoundedinterest17 US inflation remains nears its highest level since 1991, but moderated slightly. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in July on a seasonally adjusted basis after rising 0.9 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased … Read more

Mortgage Purchase Applications Rise 1% From Previous Week, But Down 18% From Last Year Thanks To Unaffordable Home Prices

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by confoundedinterest17 Simply unaffordable is what singer Robert Palmer would say. Homes, that is. Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 6, 2021. The Refinance Index increased 3 percent from the previous week and was 8 percent … Read more

Jason Burack: Gold’s Paper Price Smashed Again + Another Guilty Metals Trader Gets Light Sentence

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Wall St. For Main St., Released on 8/10/21 Ex-Merrill Lynch Gold Traders Found Guilty in Spoofing Trial https://news.bloomberglaw.com/banking… Yes, the trader was found guilty. But, what the article did not say was how many charges in the RICO investigation that the judge dropped, like commodities fraud, that were far more serious than the one charge that … Read more

Forget The “Taper,” More QE Is Coming Along With Higher Gold And Silver Prices

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by Dave Kranzler of Investment Research Dynamics In the last FOMC policy announcement, the Fed announced that it is establishing a “standing” $500 billion repo facility open to domestic and foreign banks. A repo facility provides overnight or short term liquidity to the banking system. It moves liquidity around from banks that have it to banks that need … Read more

The Misconception of the “Man of System”

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via Jeff Thomas via International Man In 1759, Scotsman Adam Smith, who is widely regarded as the world’s first true economist, published his first great work, The Theory of Moral Sentiments. In it, he postulated that all social evolution can be attributed to “individual human action,” as opposed to “individual human design.” By this, he meant that whatever … Read more

NSA Awards Secret $10 Billion Contract to AMAZON

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The National Security Agency has awarded a secret cloud computing contract worth up to $10 billion to Amazon Web Services, Nextgov has learned. The contract is already being challenged. Tech giant Microsoft filed a bid protest on July 21 with the Government Accountability Office two weeks after being notified by the NSA that it had selected AWS for the … Read more

NYT Tech Staff to Walk Out, Escalating Union Fight…

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(Bloomberg) — New York Times Co. technology employees plan to walk off the job Wednesday over what they say are the newspaper publisher’s illegal efforts to stymie their unionization campaign. Workers will stage a half-day stoppage, according to the NewsGuild of New York, the affiliate of the Communications Workers of America that the employees seek … Read more

SALMONELLA ALERT: Nearly 60,000 pounds of chicken products recalled

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CNN — Serenade Foods is recalling nearly 60,000 pounds of frozen, raw, breaded and pre-browned stuffed chicken products that could be contaminated with salmonella enteritidis, the USDA Food Safety and Inspection Service announced Monday. The products were produced on Feb. 24 and Feb. 25, 2021, and were shipped to distributors across the country, the service said. They … Read more

Tropical Storm Fred breaks the Atlantic lull

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Fred is moving along at 17 mph near Puerto Rico. Projected path and center of cone potentially places Fred over Florida Keys Saturday morning moving north to potentially make landfall sometime late Monday night or early Tuesday morning on Florida’s panhandle. View post on imgur.com https://www.accuweather.com/en/hurricane/tropical-storm-fred-breaks-atlantic-lull/996922 Potential impacts on Florida, southeastern US After it tracks … Read more

A College Professor has been arrested in connection with a series of arsons in Northern California

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“A college professor suspected in a series of arson fires in remote forested areas of Northern California near the massive Dixie Fire has been charged in connection with one of the blazes in Lassen County and was ordered held Tuesday in the Sacramento County Main Jail. Gary Stephen Maynard, 47, is believed to have worked … Read more

Fox Boston: Tyson Foods Is Raising Prices For Restaurants, Pork Up 40%, Beef Up 12%, Chicken Up 16%

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Fox Boston reported how Tyson Foods is raising prices for restaurants and how pork prices are up 40%, beef up 12%, and chicken up 16%, during a segment on WFXT’s (Fox) “Boston 25 Morning News at 7 AM” (Boston, Massachusetts) on 8/10/2021. Be sure to like, subscribe, and comment below to share your thoughts on … Read more