The U.S. government has borrowed hundreds of billions of dollars since 2019 to fund health care and an array of stimulus and rescue programs during the COVID War.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Oct 18 2022
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ANOTHER FED BANKSTER BANDIT CAUGHT VIOLATING FINANCIAL DISCLOSURE RULES
Raphael Bostic, president of the Federal Reserve Bank of Atlanta, has amended his most recent financial disclosure report after revealing he had failed to list transactions that violated a Fed rule limiting trades ahead of the central bank’s rate-setting meetings.
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MORTGAGE RATES RISE TO 20-YEAR HIGHS AS HOME PRICES FALL AT RECORD PACE
The national average interest rate on a fixed-rate, 30-year mortgage nudged up to 6.92 percent on 13 October, climbing from 6.66 percent a week ago to its highest since April 2002, the Federal Home Loan Mortgage Corporation (Freddie Mac) announced.
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ECONOMIC UPDATE—MARKET OVERVIEW
Welcome to the global freak show. What a sick, deadly joke. Ben Bernanke, the clown boy who played Fed Head prior to, during and following the “Panic of ’08” (the economic collapse forecast by Gerald Celente who took out the domain name in November 2007) was awarded the Nobel Prize in Economics last week.
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AIRLINE TRAVELERS IGNORE INFLATION, HIGHER TICKET PRICES
The average price of an airline ticket is 43 percent higher than a year ago and 0.8 percent more expensive than in August, but travelers are still taking to the skies in an ongoing post-COVID travel boom.
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TOP TREND DRAGFLATION: PRODUCER PRICE INDEX EDGED UP IN SEPTEMBER
The prices suppliers charge factories for raw materials added 0.4 percent last month after falling in July and August, the U.S. labor department reported, a sign that inflation may still have more room to rise.
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RETAIL SALES FALL IN REAL TERMS IN SEPTEMBER
The dollar value of U.S. retail sales remained flat from August through September, according to revised figures from the commerce department that erased an initial estimate of 0.4-percent growth.
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CORE INFLATION SETS ANOTHER 40-YEAR RECORD
In September, U.S. core inflation—which excludes the cost of food and energy—rose 6.6 percent, year over year, the sharpest annual jump since August 1982, the U.S. labor department reported.
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HEDGE FUNDS BET ON THE BUCK
The U.S. dollar has gained 18 percent in value this year against six other major currencies, rising with the U.S. Federal Reserve’s interest rate. As a result, the buck is poised to record its biggest annual gain on record.