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Getting advice is different than remembering to take the advice.Biden said he is getting advice from Larry Summers now. That's a move in the right direction at least.
Ended up just above even. There seems to be some sentiment that as long as there's no huge spending bill, and as long as gas and diesel prices level out, that inflation will level out. June employment / labor participation, and Q2 GDP numbers will drive the next big movement I think. We're a couple of weeks away from that. I have no idea what expectations are for those. It would be helpful if Biden would tone down his rhetoric.Dow up 100ish on the day 30600
Why are you posting here instead of satisfying the terms of your debt?Down to 30990
The Labor Participation Rate is underrated, IMO. It's more about who could be working as opposed to who chooses to work.
That adjustment doesn't bode well for the Q2 GDP number, which is expected July 28 I think. I'd hate to be the person presenting that number to the White House before it's released. I'd love to be a fly on the wall to see how much pressure there is to keep the GDP growth above 0.Real gross domestic product (GDP) decreased at an annual rate of 1.6 percent in the first quarter of 2022, according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2021, real GDP increased 6.9 percent.
The "third" estimate of GDP released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the decrease in real GDP was 1.5 percent. The update primarily reflects a downward revision to personal consumption expenditures (PCE) that was partly offset by an upward revision to private inventory investment (refer to "Updates to GDP"). [Full Release]
Recession of 2022 baby!!That adjustment doesn't bode well for the Q2 GDP number, which is expected July 28 I think. I'd hate to be the person presenting that number to the White House before it's released. I'd love to be a fly on the wall to see how much pressure there is to keep the GDP growth above 0.
Biden's speech today continues to blame Putin for everything. He's now floating the idea of price controls on Russian oil. Putin is undoubtedly laughing, and China too, because China will get the oil, and Europe and Turkey won't.R
Recession of 2022 baby!!
These sanctions against Russia are really bad news for European competitiveness because of the premiums they’re paying on energy. It’s why France and Germany (and Italy, and on…) would like Zelensky to bend the knee.Biden's speech today continues to blame Putin for everything. He's now floating the idea of price controls on Russian oil. Putin is undoubtedly laughing, and China too, because China will get the oil, and Europe and Turkey won't.
I wonder why Biden never gets challenged on the effect of these things when it really doesn't take much critical thinking to predict what will happen based on what's already happening. Russia's oil exports have barely slowed; they've simply been redirected to China and a few other countries. China is laughing at us.These sanctions against Russia are really bad news for European competitiveness because of the premiums they’re paying on energy. It’s why France and Germany (and Italy, and on…) would like Zelensky to bend the knee.
China seems to benefit from this more than the U.S. as they’re getting discounted oil, and will presumably become Russia’s consumer goods exporter in place of the European goods disappearing from the shelf.
The Fed's QE may be over, and QT may be just starting (it won't last long), but don't think the Fed free money giveaway is ending any time soon. In fact, for a handful of happy, mostly anonymous counterparties, the real free-money bonanza has just begun!Looks like the Federal Reserve increased the balance sheet in June, after a decline in May?
Federal Reserve Board - Recent balance sheet trends
The Federal Reserve Board of Governors in Washington DC.www.federalreserve.gov
It's weird, I don't know much about it but if you look at the trends I have posted its like right when it looks like it's really going to tank it recovers slightly. I'm not sure if that's just people trying to buy the dip or what.We are in a recession.
We just won't know officially until July 28th at 8:30 AM EST.
It's weird, I don't know much about it but if you look at the trends I have posted its like right when it looks like it's really going to tank it recovers slightly. I'm not sure if that's just people trying to buy the dip or what.
The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets. Created in 1988 to provide financial and economic recommendations to the U.S. President during turbulent market times, this group is headed by the Secretary of the Treasury; other members include the Chair of the Board of Governors of the Federal Reserve, the Chair of the Securities and Exchange Commission and the Chair of the Commodity Futures Trading Commission (or the aides or officials they designate to represent them).I don't get it.
So you think they are putting money into the markets to delay the tank? Wouldn't they lose thier ass in the long run?The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets. Created in 1988 to provide financial and economic recommendations to the U.S. President during turbulent market times, this group is headed by the Secretary of the Treasury; other members include the Chair of the Board of Governors of the Federal Reserve, the Chair of the Securities and Exchange Commission and the Chair of the Commodity Futures Trading Commission (or the aides or officials they designate to represent them).
The name "Plunge Protection Team" was coined by The Washington Post and first applied to the group in 1997.The Washington Post and first applied to the group in 1997.
- The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets by The Wall Street Journal.The Wall Street Journal.
- The Plunge Protection Team's official mission is to advise the U.S. president during times of economic and stock market turbulence.
- Critics fear the Plunge Protection Team doesn't just advise, but actively intervenes to prop up stock prices—colluding with banks to rig the market, in effect.
Officially our Federal Reserve doesn’t print money to buy stocks. BOJ does, and I read last year they were up to owning something like 7% of the shares listed on the Tokyo exchange.So you think they are putting money into the markets to delay the tank? Wouldn't they lose thier ass in the long run?
So they hedge the money using the Japanese market?Officially our Federal Reserve doesn’t print money to buy stocks. BOJ does, and I read last year they were up to owning something like 7% of the shares listed on the Tokyo exchange.
No, I mentioned BOJ because they are straight printing money to buy stocks. I don’t think that is happening here - yet.So they hedge the money using the Japanese market?