The Bank of England (BoE) became the first major central bank to pivot on its quantitative tightening cycle. Because the government bond market was decimated due to Prime Minister Liz Truss’ deficit-financed mini-budget, the central bank intervened and bailed out her Conservative government by purchasing 20- and 30-year bonds. This stopped the bleeding, but yields […]
Archives for September 2022
Hurricane Ian could cost $70 billion – one of the most expensive in U.S. history
Hurricane Ian has made landfall. The images being shared on Twitter are devastating. Houses are being torn apart, homes are being flooded, and even sharks are swimming on land. In the end, it could become one of the most expensive hurricanes in U.S. history. The economic costs of Hurricane Ian could hit as much as […]
Eat or heat? Millions of Europeans to make decision this winter
By: Claudio Grass As the citizens of the European Union and the United Kingdom are increasingly struggling to make ends meet due to record levels of inflation, and as the winter draws closer, a serious cost of living crisis is set to spiral out of control. Skyrocketing energy costs, combined with galloping prices for food […]
It’s official: U.S. housing market in a recession as Case-Shiller prices fall in Julyade
The housing bubble has been popped. The Case-Shiller Home Price Index posted its biggest monthly drop in about a decade, sliding 0.8% in July. Moreover, the Federal Housing Finance Agency’s (FHFA) house price index also slipped 0.6% in July. “Although U.S. housing prices remain substantially above their year-ago levels, July’s report reflects a forceful deceleration,” […]
CBO: Joe Biden’s student loan forgiveness plan to cost $400 billion
The cost of President Joe Biden’s student loan cancellation plan continues to rise every month. According to the Congressional Budget Office (CBO), the president’s plan to forgive between $10,000 and $20,000 in federal student loans will now cost approximately $400 billion. Moreover, the CBO projects that the White House’s idea to pause student loan payments […]