Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Vene...
Tag: Economics
While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback – Economics Bitcoin News
While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told th...
Fed Chair Jerome Powell Says a ‘Difficult Correction’ Should Balance US Housing Market – Economics Bitcoin News
Following the Covid-19 pandemic, real estate investors did extremely well, despite the millions of Americans that were put out of work and faced evictions during the lockdowns in 2020. Stimulus put a ...
Hong Kong Shares Hit 11-Year Low. Alibaba and Tencent Lead Decline.
Text size Hong Kong’s Hang Seng index fell more than 3% on the week to reach its lowest level since October 2011. Bloomberg Hong Kong stocks ended a bleak week down more than 1% Friday, pushing ...
Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a ‘Doom Loop’ – Economics Bitcoin News
On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat cu...
Liz Truss pursues ‘trickle-down economics’ despite scorn from Biden
British Prime Minister Liz Truss and U.S. President Joe Biden formally met for the first time at the United Nations General Assembly in New York City, following clashes in economic policy between the ...
These Are the 7 Worst Housing Markets, According to Lennar
Higher mortgage rates have cut into home sales at a national level—but, as the saying goes, all real estate is local. Lennar , the nation’s second-largest builder by market capitalization, on Thursda...
Bank of Japan Intervenes in Foreign Exchange Markets After Yen Slips to 24-Year Low – Economics Bitcoin News
While the greenback has been rising higher, the Japanese yen tapped a 24-year low and Japan decided to intervene in foreign exchange markets (forex) for the first time since 1998. Reports say the Bank...
‘Investors Are Running out of Havens’ — Erratic Behavior in US Bond Markets Points to Deep Recession, Elevated Sovereign Risk – Economics Bitcoin News
Yields on long-dated U.S. Treasuries have been erratic this year and this week, the 10-year Treasury yield crossed 3.5% for the first time in a decade. Following the Fed’s 75bps (basis points) rate hi...
As Biden Drains the SPR Down to 1984 Levels, Chinese State Media Claims US Dollar ‘Is Once Again the World’s Problem’ – Economics Bitcoin News
Two days ago, U.S. president Joe Biden was criticized for claiming inflation in America hasn’t increased during the past few months. “I’m telling the American people that we’re going to get control of...
Federal Reserve Hikes Benchmark Bank Rate by 75bps to Battle Elevated Inflation – Economics Bitcoin News
The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week t...
Chinese Currency Breaches 7:1 Exchange Rate Against US Dollar for First Time in Two Years – Economics Bitcoin News
The offshore exchange rate of China’s fiat currency versus the U.S. dollar recently breached the 7:1 mark for the first time in over two years, after it touched a new 2022 low of 7.0188 yuan for every...
Biden Slammed After Stating Inflation Hasn’t Spiked for Months — ‘I Am More Optimistic Than I’ve Been in a Long Time’ – Economics Bitcoin News
U.S. President Joe Biden has shared his perspective on inflation. “I am more optimistic than I’ve been in a long time,” he said, noting that inflation has not spiked for several months. Many people di...
Argentine Inflation Skyrockets to Almost 80% YoY as Crypto Adoption Grows – Economics Bitcoin News
Argentine inflation numbers were revealed last week, with the interannual Consumer Price Index (CPI) registering record levels reaching 78.5%. This puts the country second only to Venezuela in Latam i...
Dow Futures Fall as Wall Street Anticipates Another Big Rate Hike From the Fed
Text size AFP via Getty Images Stock futures traded lower Monday in a week that is expected to see the Federal Reserve raise interest rates by another three-quarters of a point in its effort to stamp ...
The U.S. Consumer Is Running on Fumes, Say These Strategists
Text size This commentary was issued recently by money managers, research firms, and market newsletter writers and has been edited by Barron’s. The Poor(er) U.S. Consumers The Week in 60 Seconds...
The Economy Is Slowing Down. What It Means for the Fed.
Fed Chair Jerome Powell has warned that the central bank’s tighter monetary policy will be painful. The latest data confirm he’s right. Ting Shen/Bloomberg Text size For Jerome Powell’s Fe...
Billionaire Jeff Gundlach Discusses When to Buy Crypto — Warns of Deflation Risk – Economics Bitcoin News
Billionaire Jeffrey Gundlach, aka the Bond King, has shared his view on when to buy cryptocurrency. “You need a true Fed pivot,” he stressed. Gundlach also warned about the increasing risk of deflatio...
Robert Kiyosaki Warns Fed Rate Hikes Will Destroy US Economy — Says Invest in ‘Real Money’ Naming Bitcoin – Economics Bitcoin News
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says the Federal Reserve will destroy the U.S. economy with interest rate hikes. He advises people to invest in “real mon...
Cash Is No Longer Trash. T-Bill Yields Near 4%.
Text size After years of yielding near zero, cash is suddenly a better investment. Eva Hambach/AFP via Getty Images Cash is no longer trash. For the first time in 15 years, investors can get nearly 4%...
Robert Kiyosaki Urges Investors to Get Into Crypto Now, Before Biggest Economic Crash in World History – Economics Bitcoin News
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has urged investors to get into crypto now, predicting that the biggest economic crash in world history is incoming. “Now...
Justin Trudeau Slams Pierre Poilievre for Telling People They Can ‘Opt out’ of Inflation by Investing in Cryptocurrency – Economics Bitcoin News
Canadian Prime Minister Justin Trudeau has slammed Pierre Poilievre, the new leader of the Conservative Party of Canada, for telling people that they can “opt out of inflation” by investing in cryptoc...
Crypto is Unable to Solve Modern Moneatry Problems, Says Economics Scholar
Despite the cryptocurrency ecosystem is growing rapidly because many believe in its potential as money and as an investment asset, Joachim Voth, Professor of Economics at the University of Zurich, sai...
US Inflation Rate in August Runs Hot at 8.3%, Peter Schiff Says America’s ‘Days of Sub-2% Inflation Are Gone’ – Economics Bitcoin News
On September 13, the U.S. Bureau of Labor Statistics reported the country’s consumer price index (CPI) inflation jumped by 8.3% annually in August. The reduction was less than expected and market anal...
Zurich University’s professor of economics says Bitcoin ‘doesn’t solve a single problem’
Despite the cryptocurrency sector growing larger by the day, not many financial experts trust it, and some are very critical of its flagship asset – Bitcoin (BTC), including Hans-Joachim Voth, Profess...
Treasury Secretary Janet Yellen Warns Gas Prices Could Spike This Winter — Says ‘It’s a Risk’ – Economics Bitcoin News
U.S. Treasury Secretary Janet Yellen has warned that gas prices could rise again this year. “It’s a risk that we’re working on the price cap to try to address,” she stressed. “Our price cap proposal i...
‘A Dangerous Looking Moment in Global Economics’ — Veteran Investor Jeremy Grantham Warns S&P 500 Could Plunge Another 26% – Economics Bitcoin News
Jeremy Grantham, the co-founder of the Boston-based asset management firm Grantham, Mayo, & van Otterloo (GMO) believes Standard and Poor’s 500 (S&P 500) could drop another 26% during the next...