It was good while it lasted? Twitter CEO Elon Musk might be stepping down. According to a new Twitter poll the “Chief Twit” posted, Musk asked: “Should I step down as head of Twitter? I will abide by the results of this poll.” The final results showed 57.5% voting “Yes” and 42.5% voting “No.” More […]
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Recession Alert: U.S. 2-year/10-year yield spread the most inverted since 1981
Is another recession coming? If you are going by the premier recession indicator — the yield curve — then it is almost certain at this point. The spread between the two- and ten-year yields is the highest it has been since the 1980s, coming in at -84 basis points. Here is a chart courtesy of […]
Peter Schiff: Currency crisis will exacerbate inflation crisis
Is a currency crisis upon us? The U.S. money supply has exploded since the COVID-19 public health crisis, with the Federal Reserve creating 40 percent of all dollars ever created in just two years. Put simply, the Eccles Building added trillions to the money supply, eviscerating Americans’ purchasing power. But it was not only Washington […]
Global financial system threatened by $80 trillion problem in forex market, warns the central bank of central banks
Is the global financial system about to experience a meltdown? If so, it might be a result of the foreign exchange market. According to a new report from the Bank for International Settlements (BIS), the 24/7 FX market is facing trillions of dollars in debt by non-U.S. borrowers that are situated in FX swaps and […]
Despite strong November jobs report, 7.7 million Americans working two or more jobs
The November jobs report took everyone by surprise again, although this should not be the case anymore, as the monthly employment snapshot continually surprises everyone. That said, the U.S. economy added 263,000 new jobs, higher than the market estimate of 200,000, according to the Bureau of Labor Statistics (BLS). The unemployment rate was unchanged at […]