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“It’s a new year but nothing’s new — except for the decline in good journalism and real leaders” People speak of a new year as turning the page or starting out fresh or forgetting the past. At the start of a new year, I like to look back a century ago to see what has…
“Brace yourself for misery under Hochul’s zero-emissions fantasy plan” With the start of the new year, New Yorkers are set to have their worlds turned upside down — and all for a fanciful green-dream plan that comes with sky-high costs and mountains of other pain yet is almost certain to fail, and won’t even do…
“US luxury housing market hits sharpest skid on record: data” Even high-end luxury homes aren’t immune from the US housing market’s ongoing slump, according to the latest data released by real estate firm Redfin this week. Sales of luxury homes – defined as properties that are estimated to be in the top 5% based on…
“Mortgage rates rise for first time in seven weeks” The average long-term US mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year…
“Dow jumps as jobless claims data eases rate worries” Wall Street’s main indexes ended higher on Thursday, led by growth stocks in light trading, as unemployment data signaled the Federal Reserve’s interest rate hikes might be starting to dent labor market strength in its bid to fight inflation. The Dow Jones Industrial Average soared 345.09 points, or 1.1%,…
“Jobless claims rise for second straight week” The number of Americans filing new claims for unemployment benefits edged higher last week but remain in a range indicating the job market remains tight, even as the Federal Reserve works to cool demand for labor as part of its bid to lower inflation. Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 225,000 for…
” What to expect from crypto the year after FTX “ Cryptocurrency had its Lehman moment with FTX — or, perhaps, another Lehman moment. The macroeconomic downturn has not spared crypto, and as November rolled around, nobody knew that we were in for the collapse of an empire worth billions of dollars. As the rumors…
“Why 2023 will be like 1967’s ‘Summer of Love’ for the stock market” Hot inflation and recession fears. Spiking interest rates from the Fed. Divisive US politics. A regional war overseas with global repercussions. I’m not talking about 2022 – I’m talking about 1966. A familiar set of fears dogged stocks during the year that…
” Economic frailty could soon give Bitcoin a new role in global trade “ The chaos we’ve experienced in global markets this year — global geopolitical upheaval magnified by the confluence of broken supply chains, inflation and heavy national debt loads — seems to signal the beginning of a new era. All of this is…
“New home sales rise 5.8% in November — but dip in these regions” Sales of new US single-family homes rose for a second straight month in November likely as Americans took advantage of a retreat in mortgage rates and incentives from desperate builders, but the overall housing market remains depressed. New home sales increased 5.8% to a seasonally adjusted annual…