Have the rumors of China’s death been greatly exaggerated? Early data from China’s reopening are in, and the numbers topped expectations. The first quarter GDP growth rate surged 4.5% year-over-year, up from 2.9% in the fourth quarter and higher than economists’ expectations of 4%. On a quarter-over-quarter basis, the Q1 GDP rose 2.2%, up from […]
Budget deficit climbs $378 billion in March, tops $1.1 trillion in first half of FY 2023
The U.S. budget deficit has already topped $1 trillion in the first half of the fiscal year 2023. So much for reducing the federal deficit. The federal government recorded a budget gap of more than $378 billion in March, down from the $262 billion shortfall in February. In total, the federal deficit stands at $1.1 […]
Donald Trump talks de-dollarization in Tucker Carlson interview
Not too many high-profile figures in U.S. politics have discussed the broader de-dollarization campaign. Senator Marco Rubio touched upon it in a Fox News interview earlier this month. Former President Donald Trump discussed the global anti-dollar efforts in an interview with host Tucker Carlson. Here is the interview: This clip from Trump's interview with Tucker […]
Federal Reserve expects recession later this year after banking crisis: Minutes
The Federal Reserve staff expect a recession later this year following the banking crisis, minutes from the March Federal Open Market Committee (FOMC) policy meeting show. Here is the key part of the minutes (emphasis ours): “For some time, the forecast for the U.S. economy prepared by the staff had featured subdued real GDP growth […]
Warren Buffett: The U.S. government will guarantee all bank deposits no matter what
Your bank deposits are guaranteed … and you can take that to the bank. Warren Buffett, the Berkshire Hathaway chairman and CEO, told CNBC on Wednesday that the American people should not fear losing their bank deposits because the government would intervene immediately. In other words, your deposits are insured no matter the amount. “People […]