Sky-rocketing inflation saw people rushing to cash in their Zimbabwean dollars for US dollars, to stop their savings losing value. This led to a shortage of US currency and drove up exchange rates, so the central bank reacted by halting loans. But it soon changed tack, and last month issued gold coins worth US$1,800 instead, to ease demand for US dollars.
It sure is looking like the public pension ponzi is going to be even harder to sustain than over the last few years... That's because data released by Wilshire Trust Universe Comparison Service this week showed that public pension funds fell a median 7.9% for the year ended June 30. It marks their "worst annual performance since 2009," according to reporting by the Wall Street Journal.
A live panel discussion with Jim Rickards and special guest, Fed Insider Danielle DiMartino Booth
Events may show that there are no winners, only survivors and those who failed to adapt and slid into the dustbin of history.
World governments are preparing for an Extinction Level Event (ELE); CDC reverses itself on every pillar of COVID theater
(Natural News) We have two bombshell stories to bring you in today’s article and Situation Update podcast (shown below). The first story concerns new intel from commercial suppliers, indicating that governments of the world are stockpiling supplies like never before, seemingly in anticipation of an Extinction Level Event (ELE) that threatens to wipe out the...
Long term returns could be lower in the future than what was experienced over the last decade and it isn't just a valuation problem.
The central bank created major distortions in a market where many Americans have most of their wealth. Why?
Higher prices already cost Americans $8,607 over past year. The average American is shelling out an extra $717 a month because of the hottest inflation in decades, according to a new analysis from the Joint Economic Committee Republicans.
Grocery Inflation Hits Highest Level in 43 Years Despite Biden's 'Zero' Inflation Messaging
Some of the categories that hit everyday Americans hard in the pocketbook have soared, with the price of groceries jumping to its highest level since 1979.
While optimism may have improved, buying conditions did not and as the chart below shows, buying conditions for most major purchases - house, car, large durables - remain mired at or near all time lows as inflation continues to crippled consumers' shopping mood:
The White House has set aside a $700 billion package that will address inflation by lowering energy and health care costs for families and by helping to bring down the deficit?
Rising energy bills have forced companies to scale back industrial operations, threatening a greater drag on the economy. As of May, electrical energy costs are up 24.4 percent from a year ago. Producer Price Index (PPI) data suggests things are getting worse.
The overall duration of power interruptions in the U.S. more than doubled between 2015 and 2020.
Sometimes I wake up in the morning and feel like I’ve got the cheat codes to the world, that, like Neo in The Matrix, I can see the code behind the world they parade in front of us. But, I know, in my heart that this is, itself, just another illusion. It’s just another layer of false reality that forms the core of the conflict in Philip K. Dick’s seminal work that The Matrix borrows heavily from, UBIK.
Pretty soon, it’s going to be every country for itself in this main event of the fourth turning (aka the long emergency). Global unity is a mirage, along with all the preposterous narratives of a world government.
"Central Banks Are In Shock Their Households Are Too Hot, Soon To Be Too Cold And Too Hungry"
US PPI was another deflationary surprise yesterday given the 0.5% fall in headline prices m-o-m and the weaker than expected 0.2% rise in core prices. Now pipeline inflation pressures are ‘only’ 9.8% and 5.8% y-o-y, respectively. Even so, the market’s fad for “sic transitory gloria mundi” faded yesterday, with stocks failing to hold gains...
Gold prices inched lower on Friday but were still on track for a weekly rise, as an overall weakness in the dollar offset pressure from an uptick in bond yields and expectations of further rate hikes from the U.S. Federal Reserve.
The price of retail gasoline just dipped below $4 per gallon, AAA data showed on Thursday, but prices could rise to $5 per gallon by the end of the year according to Goldman Sach’s Head of Energy Research Damien Courvalin
A study published by the German Economic Institute (IW) on Thursday showed that multiple crises such as the COVID-19 pandemic and the Russia-Ukraine conflict have increased the risk of recession in Europe.
Nine years ago, economists at JPMorgan Chase economists compared and contrasted China’s swelling credit risks with what happened in Japan in the 1980s, on the eve of the bursting of that nation’s epic bubble.