The mainstream media played the game that inflation eased in Europe, which is total bullshit. In February, inflation’s overall pace across Europe edged down to just 0.1 percent to 8.5 percent from 8.6 percent in January... with prices for services driven higher.
Europe’s natural gas prices are on track to decline for a third consecutive month in March, the longest slide in the price since 2020, with futures contracts pricing about 35 percent lower now than at the beginning of the year, according to Bloomberg.
This is week 31 of our reporting the long trend-line of layoffs that signal a further economic downturn in a country near you. Rising inflation and rising interest rate hikes are causing companies in many sectors to lay off employees.
More fallout from the work-from-home revolution: retail chains that catered to commuters in urban centers are shutting their downtown stores and moving out to smaller suburban locations.
Last week, the U.S. average interest rate on a fixed-rate, 30-year mortgage climbed to 7.1 percent, Mortgage News Daily reported.
The 72 million Americans between the ages of 22 to 40, roughly, piled up $3.8 trillion in debt by the end of last year, 27 percent more than at the end of 2019.
Consumers spent less on clothing and electronics in recent months, while spending the same or more on groceries and other essentials, The Wall Street Journal reported.
At least eight companies that went public through “special-purpose acquisition companies” (SPACs) in the last year have now filed bankruptcy, Bloomberg reported.
On 3 March, the yield on the two-year treasury note reached 4.94 percent, its highest since 2007 just before the Great Recession arrived, the Financial Times reported.
Israel launched an air attack against Syria’s Aleppo International Airport early Tuesday, causing “material damage” and knocking the facility out of service, according to reports.