The government insists that the economy is fine, thriving perhaps, and has asked the public to pay no mind to their current financial situation. No one, aside from those living off government assistance, are better off now than they were four years ago. Americans cannot be gas lit into believing the economy is sound when […]
I’ve long been sounding the alarm on the private debt crisis sweeping the Build Back Better nations. US government debt equaled 122.3% of the nation’s GDP in 2023, a cost that will be passed on to the taxpayers. As of Q1 2024, US household debt stood at $1.77 trillion; $12.44 trillion held in mortgage debt, […]
Americans are opting to file for bankruptcy at a faster pace as they cannot repay their debts. A few major banks came out to say that they lost over $4.1 billion last quarter due to unpaid debts. Bankruptcy filings in the US rose 15% in the first half of 2024, reaching 217,000. Consumers aren’t spending […]
@60minutes Fed chair says he worries about the national debt #nationaldebt #60minutes #federalreserve #debt ♬ original sound – 60 Minutes Donald Trump believes that Federal Chairman Jerome Powell will make decisions for the central bank based on politics. I must say that I do disagree with Trump’s stance on the role of the central bank […]
Unemployment in Canada ticked up by 0.2% in June to 6.4%, yet the economy lost 1,400 jobs. Around 1.4 million Canadians were looking for work as of June 2024, a 42,000 person increase from May. Overall employment has fallen in eight of the past nine months to 61.1% in June. So where are all the […]
The June jobs report revealed better than anticipated results with 206,000 new jobs now added to the US economy. Is Bidenomics working? Absolutely not. The jobs reports are inflated because the Biden Administration has been multiplying the public sector. Of the 206,000 new jobs, 70,000 were created within government, surpassing the 49,000 government jobs created […]
America’s robust consumer economy helped it emerge as a global powerhouse. Nations once stood in line, eager to sell to America as our consumer economy composed over two-thirds of GDP. Grappling with the cost of living crisis and amid a private wave where confidence has been lost, Americans are spending significantly less but are more […]
The Federal Open Market Committee unsurprisingly voted to maintain rates at 5.25% to 5.5%. The numerous cuts others were anticipating are completely off the table, as the central bank said there might be one reduction for the year compared with their optimistic forecast made in March of three rate reductions in 2024. “In recent months, […]
John Maynard Keynes in his 1936 book, ‘The General Theory of Employment, Interest and Money,” argued aggregate demand was too volatile to be stable and would lead to inflation or recessions. His theory honed in on spending as a means of price control. Low aggregate demand, Keynes argues, would lead to high unemployment and stagflation. […]
COMMENT: It was great seeing you here in Europe. It was even more interesting to see how the central banks are starting to use the ECM rather than wait six to nine months before acting. Back in 2007, your model turned in February, but the Fed Funds Rate did not drop to 3% until one […]
