In 2023’s second and third quarters, 53 percent of inflation was due to corporations jacking consumer prices to protect profits, according to a study by think tank Groundwork Collaborative (GC), which claims “resounding evidence” for the allegation.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Jan 23 2024
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2023 HOME SALES WEAKEST SINCE 1995 BUT SELLING PRICES SET RECORD
In 2023, 4.09 million existing homes sold, the fewest since 1995, the National Association of Realtors (NAR) reported.
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AMERICANS BULLISH ON ECONOMIC FUTURE
Americans are feeling better about the economy than they have at any time since July 2021, the University of Michigan's monthly survey of consumer sentiment has found.
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NUMBERS GAME: U.S. HOLIDAY SALES BEAT FORECASTS
U.S. consumers spent 0.6 percent more in December than in November, a month in which shoppers raised their spending 0.3 percent from October.
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INTEREST ON NATIONAL DEBT EXCEEDS THREE-QUARTERS OF A TRILLION DOLLARS
The annual interest due on the U.S. national debt has reached $730.8 billion, a sum that exceeds the combined net worth of billionaires Jeff Bezos, Mark Cuban, Ray Dalio, Bill Gates, Ken Griffin, Elon Musk, George Soros, and Mark Zuckerberg, according to DailyWire.com.
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TECH STOCK RALLY: HOW HOT IS TOO HOT?
With the U.S. Federal Reserve promising interest rate cuts this year and U.S. equity markets setting records, fund managers are betting big on Big Tech once again.
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ECONOMIC UPDATE – MARKET OVERVIEW
In the real world it’s all about the bottom line. But in the White Shoe Boys Wall Street world it’s about a small gang being in complete control to run and rule the equity markets as they wish.