In case you have missed it amid the market meltdown, soaring inflation, and geopolitical tensions, gasoline prices are back on the rise. According to the American Automobile Association (AAA), the national average for a gallon of gasoline has risen for the sixth straight day, hitting $3.725. This is up from $3.677 a week ago. The […]
Archives for September 2022
A look at the state of global central banks’ monetary policy
The Federal Reserve raised interest rates by 75 basis points on Wednesday. Everyone else pretty much followed the same playbook, except for Turkey, which cut interest rates by 100 basis points to 12%, despite 80% inflation. So, here is a chart that summarizes the state of central banks’ monetary policy, courtesy of Charlie Bilello:
Dow Jones falls below 30k, crude crashes 5% during market meltdown
What a week to stop sniffing glue. It was bedlam in the financial markets on Friday. Here is what happened in just the morning session: The Dow Jones Industrial Average fell below 30,000 points for the first time since November 2020. Crude oil prices crashed more than 5% to their lowest levels since January as […]
Jamie Dimon destroys Rashida Tlaib in Congress on fossil fuels
JPMorgan Chase CEO Jamie Dimon obliterated Rep. Rashida Tlaib (D-MI) in Congress on Wednesday. When asked if any of the major CEOs would stop funding oil and gas investments, Dimon had this to say: “Absolutely not, and that would be the road to Hell for America.” Here is the clip: 🚨 Rep. @RashidaTlaib asked all […]
Inflation costing typical U.S. household $11,000 in 2022
Inflation is not going anywhere for a while. It will be a permanent fixture of the economy for quite some time due to its sticky nature. This was pretty much conceded by Federal Reserve Chair Jerome Powell and the Federal Open Market Committee (FOMC). Unfortunately, despite President Joe Biden claiming that inflation has gone up […]