The International Monetary Fund reported on Monday that Venezuela’s crippling inflation could top 1 million percent by the end of the year, as its economy continues to worsen. The South American nation finds itself in a political and economic crisis that has led to more than a million fleeing the country since 2015. “We expect […]
Inflation Reaches Key Threshold for Fed Rate Hikes…
Inflation for the first time in several years has increased to the Federal Reserve’s annual target, the Commerce Department reported Monday, reaching a key threshold for the future of U.S. interest rates. The personal consumption expenditures (PCE) index, the Fed’s inflation barometer, increased 2 percent in the 12-month period ending in March, according to data […]
The Federal Reserve Is Setting America Up for Economic Disaster…
I recently had the opportunity to read “The Creature from Jekyll Island” by G. Edward Griffin, a prodigious tome dealing with the circumstances surrounding the creation of the U.S. Federal Reserve System. I was taken aback by some of its provocative assertions…
Retirees on Tap for Biggest Increase in Social Security Benefits Since 2011…
The increase in the cost-of-living allowance for Social Security benefits next year is likely to be about 2 percent, according to the latest data, which would be the biggest hike since 2011. The official increase will be released in October, after the Bureau of Labor Statistics releases the September data…
Jackson Hole’s Deluded Groupthink Confirms “A Gigantic Financial Crisis Is Coming”…
The Jackson Hole gathering of central bankers and other economics big shots is over. They all still like themselves very much. Apart from a pesky inflation problem that none of them can get a grip on, they publicly maintain that they’re doing great, and they’re saving the planet (doing God’s work is already taken)…
Yellen’s Effed up Attack on Working People, Sad by Mike Whitney…
Why did the Fed raise its benchmark interest rate when inflation is still running below the Fed’s target, workers wages have hardly budged and the economy is not even growing at 1 percent? Yellen was asked that question at a press conference on Wednesday following the release of the FOMC’s statement. Her answer helps to […]
U.S. Jobs Growth in May Was Slowest in More Than Five Years…
U.S. gains just 38,000 new jobs as jobless rate falls to 4.7%…
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