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US Producer Prices Accelerating At Fastest Rate In 12 Months, Wall Street Reacts…
US Producer Prices Accelerating At Fastest Rate In 12 Months, Wall Street Reacts… Ahead of tomorrow’s CPI, traders are eyeing this morning’s Producer Prices for any hints that the disinflation trend will return…or not. The answer is “not!” April Producer Prices rose 0.5% MoM (vs +0.3% exp), with March’s +0.2% MoM revised down to -0.1% MoM. […]
Transitioning Fleet Trucks to Electric Raises Costs by up to 114 Percent, Report Warns
Transitioning Fleet Trucks to Electric Raises Costs by up to 114 Percent, Report Warns Mandating EV trucks in today’s market leads to even ‘more supply chain disruptions,’ said an industry expert. Transitioning conventional truck fleets to electric vehicles (EVs) pushes up annual operational costs, which subsequently increases economic inflation, according to a recent report from […]
Why The Establishment Fears a Trump-led Fed
Why The Establishment Fears a Trump-led Fed While in office, Trump blamed the Fed for tightening monetary policy. Now members of Trump’s team allegedly plan to give a re-elected Trump more power over the Fed, igniting panic from mainstream economists about a politicized Fed. Our guest commentator explains why the real risk, from the establishment’s perspective, is not […]
David Stockman on Why There is No Noticeable Benefit from the Fed’s Policies
David Stockman on Why There is No Noticeable Benefit from the Fed’s Policies Here is the only noticeable “benefit” from the Fed’s pro-inflation policies since Greenspan’s arrival at the Eccles Building. To wit, these policies have pleasured the tippy top of the economic ladder with massive wealth gains owing to the relentless inflation of financial […]
Your Tax Dollars At Work: In Two Years, $7.5 Billion Has Produced Just 7 EV Charging Stations
Your Tax Dollars At Work: In Two Years, $7.5 Billion Has Produced Just 7 EV Charging Stations When people gripe about paying taxes and the government being a poor the absolute worst possible capital allocation, this is what they are talking about: $7.5 billion in investments for electric vehicles has – in two years – produced just 7 charging stations across four […]
Bidenomics At Work: Ford Slashing Battery Orders As Losses Per EV Approach $100,000
Bidenomics At Work: Ford Slashing Battery Orders As Losses Per EV Approach $100,000 Ford is cutting battery orders in yet another sign that the EV market, despite a constant tailwind from the U.S. taxpayer, is starting to slow. The company is cutting the orders to curb electric-vehicle losses as it scales back its EV strategy in […]
World’s Oldest Central Bank Keeps Sounding Alarm on Fragility of Cashless Economies. Are Other Central Banks Listening?
World’s Oldest Central Bank Keeps Sounding Alarm on Fragility of Cashless Economies. Are Other Central Banks Listening? At a time when the dominant narrative around cash is that its demise is all but inevitable, as well as broadly desirable, the 2024 payment report by Sweden’s Riksbank may offer a cautionary tale. In October last year, […]
Texas Spot Power Prices Jump Almost 100-Fold on Tight Supply
Texas Spot Power Prices Jump Almost 100-Fold on Tight Supply (Bloomberg) — Texas electricity prices soared almost 100-fold as a high number of power-plant outages raised concerns of a potential evening shortfall. Spot prices at the North Hub, which includes Dallas, jumped to more than $3,000 a megawatt-hour just before 7 p.m. local time, versus […]
The top 10% are the main beneficiaries of globalization, says study
The top 10% are the main beneficiaries of globalization, says study Collinearity of globalization indicators. Credit: The Journal of Economic Inequality (2023). DOI: 10.1007/s10888-023-09593-7 The income of many people around the world has considerably increased due to the economic globalization of the last 50 years. However, these income gains are unevenly distributed. A study by Dr. Valentin […]
Biden Wants EVs so Badly That He Will Quadruple Tariffs on Them
Biden Wants EVs so Badly That He Will Quadruple Tariffs on Them Astute readers will immediately notice the title of this post makes no sense. It’s not supposed to. But it is exactly what President Biden is doing. Biden to Quadruple Tariffs on Chinese EVs Counter to the idea that quick EV adoption is needed […]
Welcome to the Warfare State
Welcome to the Warfare State War is one of the few things that only the State can do. Indeed, as Randolph Bourne said, “War is the health of the State.” Let’s briefly discuss the nature of the State to see why World War 3 is on the way. The State is like any other living […]
You Need 2 Years of Food – Martin Armstrong
You Need 2 Years of Food – Martin Armstrong Legendary financial and geopolitical cycle analyst Martin Armstrong has new data on how well the Biden economy is doing. Spoiler alert: It’s not doing well, and the financial system is about to tank. I asked Armstrong if the US government could default on its debt if […]
Turkiye Suspends All Trade With Israel in Surprise New Blow; Israel Threatens Retaliation
Turkiye Suspends All Trade With Israel in Surprise New Blow; Israel Threatens Retaliation Last night, Bloomberg broke the story that Turkiye has suspended all trade with Israel. The Bloomberg account noted that Turkiye had announced the day before that it was joining South Africa in its genocide case against Israel. A later Financial Times story provides […]
Republic First seizure signals more bank failures to come, expert warns
Republic First seizure signals more bank failures to come, expert warns Fears of contagion reignited by first US bank failure of 2024 Feds’ rate cut promise caused banks to drastically mismark books: McDonald The Bear Traps Report founder Larry McDonald says the New York Community Bank collapse speaks to a greater economic problem on “Making […]
“Economics Works In Mysterious Ways”: Is China’s Wealth Effect Being Substituted?
“Economics Works In Mysterious Ways”: Is China’s Wealth Effect Being Substituted? Is the wealth effect being substituted? Summary China’s real estate market suffered heavy losses early this year while stock market investors continue to face huge uncertainty. This will add to the deterioration of household balances and as such could influence private domestic (consumer) demand. […]
