LONDON—Pension funds and other ‘non-bank’ financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said. The BIS, dubbed the central bank to the world’s central banks, also said in its latest quarterly report that 2022’s market upheaval had largely been navigated without […]

Thanks to Joe Biden this year’s Thanksgiving is 20% more expensive than last year’s.   Don’t worry Biden doesn’t care – he doesn’t even know it’s Thanksgiving let alone what day it is. Inflation under Biden has reached 40-year highs.  But Biden wants Americans to believe that this isn’t the case. It’s difficult to do because… The post BIDEN ECONOMY – This Year’s Thanksgiving Got 20% More Expensive and You Can Thank Biden for That appeared first on The Gateway Pundit .

Number of Americans applying for unemployment benefits rose to a 3-month high amid rise in layoffs.

By Eva Mathews, Chavi Mehta and Jane Lanhee Lee (Reuters) – U.S. companies from tech giants Alphabet and Microsoft to GE and…

  The Conservative Treehouse posted: With most financial media being intentionally obtuse with the Biden economic impact upon Main Street, it is refreshing to see analysis that cuts to the heart of the matter.  HatTip to ZeroHedge who provides a link to a great article outlining reality for blue and white-collar working families. The folks at NerdWallet have taken the inflation… The post BIDEN ECONOMY: Average American Needs Annual Wage Increase of $11,500 to Keep Up with Biden Inflation appeared first on The Gateway Pundit .

The Biden economy is not doing as well as the Biden Administration claims.  Results in manufacturing and home building are taking big hits.    Market Watch reported on Monday that the manufacturing index in the New York dropped drastically in August. The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity… The post BIDEN ECONOMY: More Bad News for the Biden Economy as Manufacturing and Home Building Take Big Hits appeared first on The Gateway Pundit .

Homebuilder sentiment dives 8th month in a row, their stocks are down 19% to 36% YTD despite blistering summer rally.

You really cannon adequately describe how dangerous this US Democrat Party is to the country, its workers, and the world at large. Democrats on Sunday, as reported earlier by Cristina Laila, passed their $800 billion spending bill to crush small businesses, push up inflation, kill the US energy sector, destroy the middle class for years… The post WATCH: Democrats CHEER AND CLAP LIKE SEALS After They Pass Bill to Raise Taxes on Middle Class, Raise Inflation, Crush Small Businesses During Biden’s Economic Recession appeared first on The Gateway Pundit .

The Bureau of Labor Statistics released a report today showing that employers eliminated over 600,000 jobs in the month of June.  The Bureau of Labor Statistics (BLS) reported this morning: The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Hires… The post BIDEN ECONOMY: US Loses Over 600,000 Job Openings in June as Employers Are No Longer Hiring appeared first on The Gateway Pundit .

Tanks are now in the streets in China protecting the banks from angry customers who are demanding withdraws from the banks.   China’s economy is not good.  President Trump saw this and put China in a difficult spot during his Administration in an effort to stop the Communist regime from stealing intellectual property from the US.… The post Not Making Headlines: Tanks Are in the Streets in China Protecting the Banks that are Preventing Customers from Withdrawing from Their Accounts appeared first on The Gateway Pundit .

Demand for mortgages has crashed to a multi-decade low last week as prospective homebuyers contend with surging inflation and rising interest rates, data released on Wednesday showed.

Producer Price Inflation Unexpectedly Surges Back Near Record Highs In June Following yesterday's CPI scare, analysts were hoping that Producer Prices will decelerate modestly. They were wrong, very wrong. PPI printed 11.3% YoY in June (nback up near record highs and well above the +10.8% expected) Source: Bloomberg This is the 27th straight month of MoM increases in producer prices. Final demand goods: The index for final demand goods moved up 2.4 percent in June, the sixth consecutive rise. Nearly 90 percent of the June increase can be traced to a 10.0-percent jump in p [...]

Initial Jobless Claims Soars To Highest Since Nov 2021 Following the very mixed message from last Friday's jobs data, this morning's initial claims data was definitelky worse - with 244k Americans filing for unemployment benefits for the first time last week. That is the highest since November 2021... Source: Bloomberg There was a big jump in unadjusted continuing claims across all programs... The unexpectedly large rise in claims was driven a surge in New York (vaccine mandate related?) This ongoing surge in jobless claims fits much more with the narrative being told by [...]

"Take The Tragedy In Sri Lanka And Multiply By Ten": The Fed Just Lobbed A Financial Nuke That Will Obliterate The Global Economy By Larry McDonald, author of the Bear Traps Report We are living in a period of mass “Jonestown” economic delusion. Just twenty months ago – central bankers were offering to buy nearly every junk bond known to mankind, dramatically distorting the “true cost of capital.” All the way from crypto to emerging markets – it was a moral hazard overdose . Everyone on earth was borrowing money at fantasy-land bond yields. Now , the Fed is promising endless rat [...]

Chinese Bank Run Turns Violent After Angry Crowd Storms Bank of China Branch Over Frozen Deposits While the world of high, and not so high finance, is obsessing over the volatility of cryptos and recent painful losses for overlevered players who - much to the amazement of plain vanilla equity investors - were not bailed out by a magnanimous Fed (which however only rescues stock markets, not cryptos), things in China with its $54 trillion financial system, or more than double the size of assets across US commercial banks, are once again getting heated. As Reuters reports , a lar [...]

US Q1 GDP Revisions Scream Stagflation The third look at Q1 GDP appears to confirm the worsening picture of the US economy that is now evident in sentiment surveys nationwide. Growth was revised even lower to -1.6% Annualized QoQ (from -1.5%)... Personal Consumption growth collapsed from +3.1% to just +1.8% - weakest since the COVID lockdown collapse... And finally, inflation - GDP Price Index - rose from +8.1% to +8.2% - the highest since June 1981 ... So - stagflation it is... not exactly what The Fed wants to see. Tyler Durden Wed, 06/29/2022 - 08:38

Producer prices continue to rise at a near-record pace, further undercutting the notion that we’ve reached “peak inflation.” The Producer Price Index (PPI) rose 0.8% month-on-month, according to the May data released by the Bureau of Labor Statistics. That was double the 0.4% gain in April. On yearly basis, wholesale prices were up 10.8%. That […] The post Producer Prices Continue to Rise at Near-Record Pace Further Undercutting the Notion of Peak Inflation first appeared on SchiffGold .

LONDON—The euro’s losses deepened on Tuesday after data showing eurozone inflation hit a record high in May, but expectations the European Central Bank will soon hike rates kept the single currency on track for its best monthly performance in a year. Rising inflation is usually considered a precursor to tighter monetary policy. The ECB is […]

$18 For A Michelob Ultra: 'Beer-Flation' Hits PGA Championship This week's beer prices at the 2022 PGA Championship at Southern Hills Country Club in Tulsa, Oklahoma, shocked many who attended the event (and even players) and sparked just as much buzz as Tiger Woods.  After spending hundreds of dollars for a basic ticket to walk around the course, watching players tee off or sink a putt (or miss a crucial putt), many craved a refreshing cold beer. However, 'beer-flation' hit the PGA as it costs $18 for a Michelob Ultra and $19 for a Stella Artois.  Pro-golfer Justin Thomas, who [...]