https://twitter.com/brad_polumbo/status/1514563642812940297 SPOILER: WE’LL GET BOTH. White House Expects More Inflation, Not Recession. It was Summers, a former Treasury secretary under President Clinton and later a senior economic adviser to President Obama, who warned the White House for months last year that, no, inflation would not be temporary or transitory as they had hoped. And he was … Read more
Pretty awkward Reuters poll for the BoJ. "76% of firms said can't tolerate yen weakness at current levels." Kuroda to the Diet three weeks ago: "There's no change now to my view a weak yen is generally positive for Japan's economy." — Jon Turek (@jturek18) April 14, 2022 $2000 gold coming in next 24 hours… … Read more
https://twitter.com/TonyNashNerd/status/1514330661968044034
The arrival of a USS Georgia submarine in the port of Gibraltar has sparked a diplomatic row between Spain and the US. The Spanish Foreign Ministry has confirmed that it has lodged an official protest with the US. The reasons and the duration for the stopover of the submarine remain unknown https://www.express.co.uk/news/uk/1596057/spain-news-Gibraltar-uss-Georgia-submarine-nuclear-uk-latest Tess
Faced with critically low forex reserves, Sri Lanka on Tuesday announced that the crisis-stricken country will default on its external debt pending a bailout package from the International Monetary Fund. A statement from the finance ministry said, “it shall be the policy of the Sri Lankan government to suspend normal debt servicing…..shall apply to amounts … Read more
Sina Estavi is a “crypto entrepreneur,” who last year bought a digital token representing Twitter founder Jack Dorsey’s first ever tweet. He paid $2.9 million for it, and this month sought to make good on his “investment,” putting it up for auction with an expectation it could net him $48 million. It did not. As CoinDesk reports, Estavi put … Read more
by TheHiveminder
Former Reagan economic adviser sizes up the state of record inflation on ‘Kudlow.’ h/t CharlieFoxtrot
Part of the rise in retail sales is simply due to higher prices as inflation-adjusted sales peaked last April. But real retail sales are still 15% higher than pre-covid levels. So demand remains strong irrespective of inflation. pic.twitter.com/Eh7HoDMrl4 — Charlie Bilello (@charliebilello) April 14, 2022 This week's AAII Bullish Sentiment reading came in at just … Read more
$2,121,987,000,000: Federal Tax Collections Set Record Through March (CNSNews.com) – The federal government collected a record $2,121,987,000,000 in total taxes through the first six months of fiscal 2022 (October through March), according to the Monthly Treasury Statement. This also marked the first time that federal tax collections have exceeded $2 trillion in the first half of … Read more
by ZiRoRi Sources: I made an offer https://t.co/VvreuPMeLu — Elon Musk (@elonmusk) April 14, 2022 Link to Tweet Link to Bloomberg Link to full SEC 13D ELON MUSK SAYS ON APRIL 13, 2022, DELIVERED A LETTER TO TWITTER THAT CONTAINED A NON-BINDING PROPOSAL – SEC FILING. ELON MUSK – PROPOSED TO ACQUIRE ALL OF TWITTER STOCK NOT OWNED BY THE REPORTING … Read more
by Chris Black We were circling for a while. During that time, you think there might be a way to escape the whirlpool heading down. However, going down the drain was always inevitable. We are witnessing the death of commerce in real time. I predicted the death within 20 years of 1999, back when I … Read more
by Craig Hemke via Sprott Money News Last week, a former high-ranking Fed official disclosed that the Fed is determined to “break” the stock market. If they succeed in this, the impacts will be felt across all markets, so maybe we should take him seriously? Let’s begin with the former head of the New York Fed, Bill Dudley. … Read more
California legislators proposed a new bill that would allow employees of bigger companies to work fewer hours in a week without losing any income, which critics said would become a “job killer.” Assembly Bill 2932, introduced by Assembly Members Cristina Garcia (D-Bell Gardens) and Evan Low (D-San Jose) in February, would require companies with more … Read more
Via International Man International Man: Interest rates are simply the price of money. They have an enormous impact on banks, the real estate market, and the auto industry. It’s hard to think of a business that interest rates don’t affect in some meaningful way, either directly or indirectly. That’s why interest rate expert James Grant correctly … Read more
by shangumdee Although I own a fair amount crypto currency, I don’t see how digital currencies with arbitrary values are going to give us a an alternative to Fiat. As we are seeing, governments are creating their own digital currencies. They will be able to limit usage of these digital assets against anybody who does … Read more
A non-fungible token (NFT) of Twitter founder Jack Dorsey’s first-ever tweet could sell for just under $280. The current owner of the NFT listed it for $48 million last week. Iranian-born crypto entrepreneur Sina Estavi purchased the NFT for $2.9 million in March 2021. Last Thursday, he announced on Twitter that he wished to sell … Read more
by rb109544 PPI flows down to CPI over about 3-6 months…supply chain worsens every day. Inflation hasn’t peaked and won’t until CPI catches PPI more or less. Look at far right on plots! For the past 15 months, producer prices have soared relentlessly. Five months in a row of double-digit producer price inflation is quite something. … Read more
