The dollar’s march to record highs is sweeping aside other currencies, with the euro and pound hitting fresh multi-decade lows on Friday.The common currency slid 1% to its weakest since 2002, while the pound dropped as much as 2.1% to its lowest in 37 years, putting it on track for its worst week since early May. That came as a gauge of the greenback hit another all-time high...
Business surveys indicate that economic activity in Europe declined sharply in September, raising the risk of recession as governments grapple with surging prices and disruptions from Russia’s attack on Ukraine.
Federal Reserve officials and their counterparts around the world are trying to defeat inflation by rapidly raising interest rates. They know it will come at a cost.
Oil drops sharply Friday as recession fears grip financial markets, sinking global stock markets and contributing to a further rise by the U.S. dollar.
The global energy sector is in crisis. Supply chain woes and maintenance leftover from the pandemic, a fickle and bloodthirsty despot kinking the hose that supplies Europe with most of its natural gas, severe droughts causing issues with energy supply and transport ranging from China to Switzerland...
As European countries race to prepare for what promises to be a difficult winter, the reality is that the energy crisis will last until at least next winter...
London banks are preparing their contingency electricity supply plans in case of a blackout this winter...
JPMorgan Chase CEO Jamie Dimon assured lawmakers of his commitment to helping finance traditional energy sources.
In August, California announced the end of fossil fuel-powered car sales by 2035, prompting green energy advocates to celebrate. However, flex alerts followed the announcement just days later, asking Golden State residents to avoid charging their electric vehicles during peak hours. Lack of compliance with the measure meant widespread blackouts due to the additional strain on the electrical grid.
Deutsche Bank's economists say the European energy crisis has "deteriorated" and there are now "elevated risks" that the Russia-Ukraine war will escalate further.
Goldman cuts year-end S&P 500 target to 3,600, sees it falling even further in 'hard landing'
Goldman Sachs cut its year-end target for the S&P 500 to 3,600 from 4,300. It implies that the index will fall 4% through the end of the year.
Futures & Global Markets Crash; Yields, Dollar Explode - UK Stimulus Plan Sparks Global Market Panic
One week after stocks suffered their biggest drop since June, futures are in freefall on Friday with the dollar soaring to the now default daily record high..
As a divine metal, gold not only served as a store of wealth for the rulers of ancient societies but it was also an earthly representation of unending and incorruptible divinity. Coins struck in gold, while definitely earthlier and more materialistic than religious or decorative items, also retained a special place in ancient societies. Due to their high value, these early gold coins were generally used for massive payments, either state-to-state transfers or military payments for long-term service, and were rarely handled by the general population.
At their recent summit in Uzbekistan, members of the Shanghai Cooperation Organisation (SCO)—a prominent regional organization led by China and Russia—agreed on a road map to expanding trade in local currencies. A road map for using local currencies in trade and developing alternative payment and settlement systems has been part of the SCO’s economic plan for years.
The Fed is doing ninety miles per hour, heading down a three-mile grade and into a curve. This is going to be the worst train wreck in Fed history...
IMF Chief Warns There Will Be ‘People on the Street’ Globally Unless Steps Taken To Ease Inflation
"It is important to think that this compounded impact of multiple crises is already testing the patience and resilience of people. And if you don't take action to support the most vulnerable, there would be consequences," she told CNN's Christiane Amanpour.
The World Bank says Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes
A new monetary age is coming and sooner than anyone thinks. Since 1971 the world’s monetary system has been unanchored by anything of intrinsic value.
Demand for goods arises because of perceived benefits. For instance, individuals demand food because it nourishes them. This is not so, however, about pieces of paper we call money, so why do we accept them?
On 60 Minutes last Sunday, President Biden declared "the pandemic is over," but quickly added "we still have a problem with COVID, we’re still doing a lot of work on it." Biden then reiterated: "But the pandemic is over" and his evidence was the fact "no one’s wearing masks.
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