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“#Top economist warns of possible 1970s-style ‘stagflation’” The chief economic adviser for financial services firm Allianz warned that the new coronavirus variant Omicron could shake up the markets, exacerbate supply chain woes, amplify record-high inflation pressures — and possibly result in 1970s-style “stagflation.” Economist Mohamed El-Erian was asked by “Fox News Sunday” host Trace Gallagher…
“#Canada’s real estate market in 2022: What to expect in the new year” Three trend predictions on the direction of the country’s housing market in the year to come, according to the experts Prepare for a sales dip The Canadian Real Estate Association predicts the average home price will increase to $718,000 (up 5.6 per…
“#Consumer spending surges in October amid rampant inflation” US consumer spending increased more than expected in October as households bought motor vehicles and a range of other goods, showing no signs yet of holding back because of high inflation, and boosting the economic outlook early in the fourth quarter. The Commerce Department said on Wednesday that consumer spending, which accounts…
“# One million ETH worth have been burned since the implementation of EIP-1559 in August ” In a Twitter post published Wednesday, blockchain research firm CryptoRank revealed that over 1 million Ether (ETH) worth $4.24 billion had been burned since the introduction of the EIP-1559 protocol in August as part of the London hard fork….
“#Major retailers slammed by increasingly violent shoplifters” Shoplifters are dogging a slew of major retailers this holiday season — and they’re becoming increasingly organized and violent. As big chains including Best Buy, Nordstrom and Kroger grapple with bare shelves, staffing shortages and inflation, they say rampant theft has become a major problem that is not…
“#Inflation is about to get way worse in 2022—and nearly everyone in Canada will feel the pinch” (Illustration by Klawe Rzeczy) To follow Blake Doyle’s life and work in Charlottetown is to take a madcap tour of inflationary Canada. In this regard, he’s like everyone on Prince Edward Island, where Statistics Canada shows the cost…
“# Ripple CEO blasts Dogecoin for ‘inflationary dynamics’ ” The CEO of Ripple, the company behind the XRP cryptocurrency, is not a fan of the meme-based digital currency Dogecoin (DOGE). Brad Garlinghouse believes that DOGE is not good for the cryptocurrency market due to its alleged “inflationary dynamics” and unlimited supply. The global inflation is…
“#New poll shows Americans’ displeasure with how Biden’s running the country” A new survey released Sunday reflects Americans’ deep discontent with how President Biden is running the country — as only a paltry 4 percent believe things in America are going “very well.” While the CBS News/YouGov poll pegs Biden’s job approval rating at 44…
“#The Fed’s left-face decision on Jerome Powell reign” As this column goes to press, the Wall Street C-suite class is giving Jerome Powell slight odds to be reappointed as Federal Reserve chairman. Yes, he is disliked by progressives such as Elizabeth Warren; they have a big say in just about anything the Biden administration does…
“# Inflationary winds from around the world spell a sea change for Bitcoin ” Is the global economy in uncharted territory now vis-a-vis Bitcoin (BTC) and inflation? During most of the cryptocurrency’s brief life, the economic environment has been generally pro-growth with stable prices but recently, there are fresh warnings of an inflationary storm. If…