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“#UItra-low interest rates ‘rip off’ middle-class savers: economist” Ultra-low interest rates combined with runaway inflation rip off middle-class savers and retirees, a former top economic advisor to Trump said. “We know that people on pensions and we know that people with deposits at the bank, they’re not getting any return. They are being ripped off,”…
“#It’s not time to hike rates” Federal Reserve Chairman Jerome Powell said on Friday the US central bank should begin reducing its asset purchases soon, but should not yet raise interest rates because employment is still too low and high inflation will likely abate next year as pressures from the COVID-19 pandemic fade. “I do think it’s…
“#Supply chain crisis is hurting Facebook, Google and Snapchat” The escalating supply chain crisis isn’t just hurting manufacturers and retailers that sell goods off the shelf — it’s bleeding into the tech world. Companies that sell everything from toys to clothes to cosmetics are having difficulty getting their products into the United States thanks to…
“#Shares of Barbie maker, Mattel surge as much as 8 percent” Maybe Barbie won’t get stuck on a slow boat from China this Christmas, after all. Shares of toy giant Mattel — which makes the iconic Barbie dolls — surged as much as 8 percent in early Friday trading after the company said it had…
“#Paul Tudor Jones predicts inflation poses a threat to markets” A billionaire hedge fund manager said he believes inflation won’t be going away anytime soon and the problem represents a dire threat not only to the markets but also to society. “I think to me, the No. 1 issue facing Main Street investors is inflation,…
“#US has dipped into recession as worried consumers flash warning signs: economists” The US economy is careening into another recession, two noted economists warn, as worries about the labor market and the coronavirus have worsened dramatically over the past two months. The alarm bells are ringing as bad news piles up at the economy’s door:…
“#Nearly 40% of Americans seeing ‘serious financial problems’ in past few months” Nearly 40 percent of Americans say they’ve experienced serious financial problems over the past few months and almost 70 percent are worried about their children falling behind in school, according to a new national poll. After growing optimism over the summer that the…
“#Nancy’s attack on the media, the NYT’s hit on Kyrsten Sinema” This headline: We say: That Washington Post headline Thursday paints Republicans as the bad guys in the supply-chain crisis, which has scores of ships — carrying 250,000 containers of merchandise — lined up waiting to be unloaded outside US ports, slowing deliveries and fueling inflation….
“#Welcome back to 70s-style stagflation misery thanks to Biden” A feckless Team Biden has set America up for a new round of 1970s-style stagflation. The similarities between then and now are eerie. Seventies stagflation resulted from profligate fiscal policy, politicized monetary policy and food and energy shocks. President Lyndon Johnson’s guns-and-butter decision to simultaneously finance…
“#Toy prices up as much as 10 percent ahead of Christmas: trade group” The cost of children’s toys is up as much as 10 percent ahead of the holiday season, and many in-demand gifts will likely be out of stock soon amid a snarled global supply chain, the Toy Association president warned. “People are going…