One of the least surprising developments in today’s pandemiconomy is the accelerating number of mortgage delinquencies. Despite households deferring their payments, it was only a matter of time before homeowners would fall behind on their mortgages. According to CoreLogic, the share of all mortgages that were past due soared to 3.4 percent in April. This […]
Money
SOCIALIST PARADISE: Cuba risks another Special Period as country faces food shortage
By: Andrew Moran Socialism is iconic for its monumental suffering and death – it is like watching an episode of The View but without the labor camps and price controls. The deadly ideology has also created one of the most famous recipes in the culinary arts. It was such a popular diet that tens of millions of […]
Is gold headed to $5,000 within five years? One hedge fund manager thinks so
How high will gold go? $2,000? $2,500? How about $5,000? Diego Parrilla, the head of the $450 million Quadriga Igneo fund, says the yellow metal could top $3,000 as central banks will fail to contain inflation over the next decade. Speaking in an interview with Bloomberg, Parrilla avers that unprecedented stimulus from the Federal Reserve […]
U.S. inflation climbs to 0.6% as food prices, health care services surge in June
Well, there is no inflation if you don’t eat food, live under a roof, or participate in the consumer economy. The Bureau of Labor Statistics (BLS) released its consumer price index (CPI) on Tuesday and it did not look good for the immediate future, particularly with the Federal Reserve printing money like it is nobody’s […]
Wall Street urges indebted U.S. to take on more debt to survive COVID-19
By: Andrew Moran Because the country could not stop for debt, he kindly stopped for the nation. You venture to your mailbox to find a statement notifying you that you have maxed out your credit card. Instead of making sacrifices and cutting back on your spending, you choose to get another piece of plastic to pay off […]