While the latest Bureau of Labor Statistics Consumer Price Index (CPI) report indicates U.S. inflation has continued to print perpetual new highs, U.S. president Joe Biden is losing ground on his clim...
Tag: Economics
Gasoline Demand Is the Lowest in a Year. Blame Remote Work, Not Pump Prices.
Text size U.S. crude oil inventory levels still remain 5% below the five-year average for this time of year. Brandon Bell/Getty Images It isn’t just high oil prices, but Americans working from home th...
The S&P 500 Has a New Price Target. The Market Is Getting Dicey.
Text size Bank of America’s strategists believe that earnings forecasts will fall, bringing stock prices down with them. Amir Hamja/Bloomberg Bank of America strategists lowered their price targ...
Bank of America Predicts US Recession This Year as Inflation Hits 40-Year High – Economics Bitcoin News
Bank of America has forecasted that the U.S. economy will slide into a recession this year. “A number of forces have coincided to slow economic momentum more rapidly than we previously expected,” the ...
Euro Reaches Parity Against the US Dollar, While the USD Index Taps a 20-Year High – Economics Bitcoin News
Eight days ago, the euro tapped a record low against the U.S. dollar as it hit $1.028 per unit against the USD last Tuesday. This week, the official currency for 19 of the European Union’s member stat...
US Inflation Remains Scorching Hot, Jumping to 9.1% in June — White House Says CPI Data Is Already ‘Out-of-Date’ – Economics Bitcoin News
According to the latest Bureau of Labor Statistics Consumer Price Index (CPI) report, U.S. inflation remains scorching hot as it has risen at the fastest yearly rate since 1981. June’s CPI data reflec...
Car Repos Are Exploding. That’s a Bad Omen.
The jobs report and minutes from the Federal Reserve’s June meeting were the economic highlights of the week, but they are, respectively, a lagging indicator and old news. This column instead digs int...
When Will the Recession Start? Sooner Than Investors Think.
About the author: Larry Hatheway is a co-founder of Jackson Hole Economics and the former chief economist of UBS . Economists and pundits who expect recession but not until 2023 may soon be surprised ...
Global Economic Outlook Has ‘Darkened Significantly’ — Global Recession Cannot Be Ruled Out – Economics Bitcoin News
The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the global economic outlook “has darkened significantly,” emphasizing that, regarding a global recession, “we c...
The Future Is Natural
Society is really, really interconnected. And yet, unlike nature, it doesn’t operate in harmony with nature. getty Imagine yourself on the International Space Station looking down at Earth with a spec...
China’s Auto Sales Are Booming. Can the Rebound Last?
Text size China’s auto market is showing a robust rebound. Here: a BYD Tang vehicle at the company’s showroom in Beijing. Qilai Shen/Bloomberg While the recent recovery in much of China’s ...
Home Prices Will Drop Soon, Capital Economics Says. Here’s What to Expect.
Text size Rising interest rates are expected to douse a red-hot housing market. Stefani Reynolds/AFP via Getty Images Home prices in nations such as Canada, Australia, and the U.S. are on the verge of...
India Hikes Duty on Imported Gold, Seeking to Bring Down Trade Deficit – Economics Bitcoin News
In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are f...
Argentina Runs to Stablecoins Amidst Political and Economic Uncertainty – Economics Bitcoin News
Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of econo...
Euro Drops to 20-Year Low Against the US Dollar, Tapping $1.028 per Unit — Analyst Says Parity Is Imminent – Economics Bitcoin News
The euro has had a sluggish start to the second half of 2022 as the fiat currency slid to a 20-year low against the U.S. dollar. The drop adds to the fear that the global economy is in a recession and...
Stock Market Today: U.S. Futures Wobble, Global Stocks Rise on July 4 Holiday
Text size Wall Street is closed for the Fourth of July. Angela Weiss/AFP/Getty Images Global stocks were mostly higher and U.S. futures wavered on the Fourth of July. While it is set to be a quiet day...
Home Prices Could Level Out in 2023, Redfin Says. What Could Make Them Drop.
Text size The median home sale price was 14% higher for the four-week period ending June 26 from a year earlier, Redfin said. Joe Raedle/Getty Images As the housing market cools down from its red-hot ...
Vladimir Putin Says West’s Attempt to ‘Crush the Russian Economy’ Did Not Succeed – Economics Bitcoin News
Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.” American economi...
The S&P 500 Had Its Worst First Half Since 1970. What the Second Half Holds.
The S&P 500 has posted its worst first half of a year since Richard Nixon’s presidency, and many investors worry it has yet to hit bottom. In the first six months of 2022, the widely followed larg...
We Can Improve The Economics Of New Cleantech—Like We Did With Renewables
By Mitsubishi Power Americas As the power industry decarbonizes, affordable clean hydrogen is critical for storing excess wind and solar power to be used weeks or even months later. getty Today, a glo...
Zimbabwe to Hike Benchmark Rate to 200%, Central Bank Minted Gold Coins to Act as Store of Value – Economics Bitcoin News
After seeing the country’s inflation rise to 191.6% in June, Zimbabwean monetary authorities said they have resolved to increase the benchmark interest rate to 200% per annum. In addition, the central...
Reports Claim Russia Defaulted on Foreign Debt for the First Time in a Century, Kremlin Disagrees and Says It Paid – Economics Bitcoin News
According to reports, the Russian Federation has defaulted on its foreign debt for the first time since 1918. Bondholders told the press that they had not received payments from the transcontinental c...
Lebanon Inflation Rate Surges to 211%, Economist Steve Hanke Recommends a Currency Board – Economics Bitcoin News
As political leaders in crisis-hit Lebanon bicker over positions in the yet-to-be-formed government, the country’s runaway inflation rate surged to 211% in May 2022, new data has shown. Economist Stev...
Gas-Tax Holiday Is a Gimmick. Here Are Some Better Ideas.
President Biden’s proposed gas-tax holiday is both a gimmick and dead on arrival. Yet, it is attracting inordinate attention across Washington and on Wall Street. There are viable ways to improve ener...
Quantum Economics partners with LitBit for project incubation
? Want to work with us? CryptoSlate is hiring for a handful of positions! Research and analytics company, Quantum Economics, will partner with LitBit Finance to incubate and accelerate startups in the...
A Double-Dip Recession Is Coming. It Will Be Worse if the Fed Caves on Inflation
A double-dip recession like the one experienced in the early 1980s is likely, writes Robert Heller. Above, a line of people waiting to apply for jobs at a hotel in Tampa Bay, Fla., in 1982. AP/Shutter...