TRENDS ON THE ECONOMIC AND MARKET FRONT
The Street is surprised, but Trends Journal subscribers aren’t. Ready for this “shocking” Bloomberg headline? “Canada inflation quickens to 4 percent, driven by higher gas prices.”
U.S. inflation rose from July’s 3.2 percent annually to 3.7 percent in August, driven higher by rising gasoline prices, the U.S. labor department reported. Analysts had expected the figure to rise to 3.6 percent.
In August, U.S. inflation moved up to 3.7 percent after registering 3.2 percent in July. It was the first month-to-month increase in a year.
Retail sales ticked up 0.6 percent in August from July as consumers were forced to pay more for heating oil, gasoline, and diesel fuel. Wholesale prices for gasoline leaped up 20 percent, year on year, jet fuel 23.6 percent, and diesel 41.1 percent.
U.S. households added $43 billion to their credit cards in this year’s second quarter, according to WalletHub.
The U.S. Federal Reserve’s high interest rates, abetted by inflation, are keeping U.S. mortgage interest rates above 7 percent.
In this year’s second half, the share of U.S. households with at least one uninsured vehicle rose from 5.2 percent to 5.7 percent, data service J.D. Power reported.
Inside an extinct Nevada volcano, geologists have found what may be the world’s largest lithium deposit, which they estimate to be between 20 and 40 million tons.
U.S. retailers plan to hire the smallest number of seasonal workers since 2008 because of higher labor costs and uncertainty over consumers’ holiday spending, according to a report by outplacement firm Challenger, Gray & Christmas (CGC) obtained by Reuters.
The median apartment rent in New York City’s Manhattan borough remained at $4,370 in August, maintaining the record set in the month before, according to brokerage Douglas Elliman and appraisal firm Miller Samuel.
Carrie Tolstedt, former head of Wells Fargo’s community banking division, was sentenced to three years’ probation, including six months’ home confinement, last week for her role in the bank’s 2016 scandal in which more than two million credit cards and bank accounts were created for existing customers without their knowledge.
TRENDS ON THE GLOBAL ECONOMIC FRONT
Money market funds’ assets have grown by $1 trillion so far this year, the Financial Times reported, and are poised to end this year with an additional $1.5 trillion if the current pace of deposits continues.
This is the 54th week that we have been reporting job losses. And as we note in this Trends Journal, the outlook for hiring workers for the holiday season is at a Panic of ’08 low.
Since January, oil production cuts by the Organization of Petroleum Exporting Countries have subtracted 2.5 million barrels a day from the world’s oil supply, the International Energy Agency (IEA) has calculated.
On 14 September, the European Central Bank (ECB) raised its key interest rate for the 10th time in as many meetings, bumping it by a quarter point to an even 4 percent, the highest since the euro currency was introduced in 1999.
The European Central Bank’s (ECB’s) decision last week to signal that its interest rate may now have peaked was not unanimous.
In July, Britain’s economy contracted most sharply since December, with GDP puckering by 0.5 percent compared to July and busting analysts’ expectations of a 0.2-percent slide.
Last month, economic activity picked up in China’s retail and travel industries as well as at computer chip and smartphone factories, the National Bureau of Statistics (NBS) has reported.
As we had long forecast, the higher central banks raise interest rates, the lower the Merger and Acquisition trend… which hit record highs at the height of the COVID War in 2021 when interest rates sank and governments pumped in countless trillions to artificially prop up sinking economies.
UKRAINE WAR TREND UPDATE
If you’re not a member of the so-called Western “democracies” whose politicians launch endless wars and rob people of their freedom, non-members are labeled dictators.
Jens Stoltenberg, the NATO secretary-general, gave some of the history that led up to Russia’s decision to invade Ukraine—notably his alliance’s decision to continue its march eastward.
The Western news media reported on Saturday that Ukrainian fighters—who have been locked in a bloody effort to retake Russian-occupied...
Anatoly Antonov, Russia’s ambassador to the U.S., brushed aside Washington’s criticism of Russian President Vladimir Putin’s high-profile meeting with North Korea’s Kim Jong Un last week to reportedly discuss some kind of military partnership.
President Vladimir Putin told reporters that a U.K.-backed plot to sabotage a Russian nuclear power plant was foiled after the group of “saboteurs” were nabbed by Russia’s Federal Security Service.
Jens Stoltenberg, the head of NATO, told a German news outlet on Sunday that the Western countries supporting Ukraine should prepare for a “long war” because most conflicts stretch longer than first thought.
Sergey Lavrov, Russia’s top diplomat, said in an interview that the U.S. has been grooming Ukraine for years to fight Moscow in hopes of “inflicting a strategic defeat” on the country.
FEATURED TRENDS GUEST ARTICLE by Dr. Joseph Mercola
Discarded plastic—both large and microscopic—circles the globe, choking our oceans and polluting our food supply, ultimately finding their way into your body where they can accumulate over time
FEATURED TRENDS GUEST ARTICLE by Philip Giraldi
Each morning I do a quick scan of the headlines coming over the wire services, clear my emails and Facebook entries, and then take a closer look at The New York Times online, paying particular attention to the opinion pages. I usually am not disappointed in my belief that the President Joe Biden Administration as well as ex-President Donald Trump, have been and continue to be collectively destroying what was once an admirable nation, something like flushing us repeatedly down the toilets of their ambition and greed.
PRESIDENTIAL REALITY SHOW
What would be worse: President Joe Biden lying about teaching a course on political theory at the University of Pennsylvania, or the president not knowing if he ever taught at the school?
Robert F. Kennedy Jr., the Democratic presidential nominee that the media and establishment ignores and or denounces, once again called...
TRENDS IN THE MARKETS by Gregory Mannarino
Last week Bloomberg reported this: “The Bond Market Has Not Flashed a Warning Sign for This Long in Over Six Decades.”
TRENDS IN TECHNOCRACY by Joe Doran
For years, scientists have been developing, with increasing success, AI that can self-learn in more sophisticated ways.
Neural net learning, modeled on the way human brains process and hold onto or discard information, is one of the most advanced ways AI systems “self-learn.”
TRENDS IN CRYPTOS
Right now there’s no question that Hong Kong is friendlier to crypto companies and web3 development than New York, or the Biden Administration in general.
Scaling Ethereum “to the size of the internet.” That’s a sizable goal, but one that Polygon developers have set for the future of their “Layer 2” blockchain, which is known for offering technology which can reduce transaction costs of utilizing the Ethereum network.
TRENDS IN THE COVID WAR
It wasn’t just faulty analysis, or even a desire to protect their own pro-genetic experimentation scientific orientations.
TRENDS IN GEOPOLITICS
In November 2021, China successfully launched a hypersonic missile that caught the U.S. off guard.
Sweden announced last week that it will increase military spending by about 30 percent in 2024 in response to Russia’s invasion of Ukraine, stating that it now faces its “most serious security situation” since WWII.
Gerald Celente has long asked: Would the U.S. have invaded Iraq and Libya if the country’s chief export was broccoli?
As we have been reporting in The Trends Journal, much of Europe is suffering from Dragflation: high declining economic growth and inflation rates.
NATO is planning to carry out its largest military exercise in decades this spring and drills—which will include 41,000 troops and more than 50 ships—will be designed to square off to a model coalition led by Russian forces, according to reports.
The best the U.S. could muster from the G20 summit in New Delhi earlier this month was what has been called a “watered-down” declaration that critics noted did not even identify Russia as the aggressor.
Antony Blinken, the U.S. secretary of state, gave a speech last week at Washington D.C.’s Johns Hopkins University and told the audience what everyone seems to already know: the post-Cold War World Order has come to an end, and will give way to a fight-to-the-death among superpowers.
How can the Biden administration continue to send Ukraine billions to fight a war that is no threat to America without any public debate?
French regulators announced last week that they will stop the sales of iPhone 12 models in the country unless Apple reduces the amount of radiation exposure from the device.
Last week, The Trends Journal’s cover featured an image of a city with people crossing a busy street with their eyes glued on their smartphones.
A newly released study found that more Americans are dying from heart disease—caused by obesity—at a faster rate than ever and triple the amount recorded in 1999.
Common supplements that millions of Americans ingest to ward off the common cold and keep their joints healthy could—when taken in excess —increase the growth of blood vessels in cancer, according to researchers in Sweden.
A new study conducted in France found that certain additives in ultra-processed foods could elevate the risk of heart disease in the general population.
TRENDS IN HI-TECH SCIENCE by Ben Daviss
Hydrogen, a growing factor in the global green-energy transition, is usually distilled industrially from natural gas. Now the U.S. energy department is going to test a controversial theory that we can suck hydrogen out of the ground the way we do oil and gas.
Pigs have long been seen as possible incubators of human organs to use in transplants. Experiments at California’s Altos Labs have moved science closer to that goal.
Tesla has invented a car-making technique called “gigacasting” that could cut manufacturing costs in half and help Elon Musk achieve his dream of profitably supplying the world with millions of cheap electric vehicles.
TRENDS IN AI
Last February, the 5,400-student school district in Walla Walla, WA, banned ChatGPT. In August, the district held a workshop on how to use chatbots and how to teach students the skills to make the most of them. About 100 teachers—almost a third of the district’s faculty—showed up.
Automation in factories gutted the legion of blue-collar workers who made their living with their hands.
Now AI is automating knowledge work and it’s white-collar employees’ turn to be shown the door.
OpenAI has released a version of its GPT artificial intelligence tailored specifically for businesses that will help employees write code, search documents, analyze corporate data, and carry out a range of other tasks, the company announced.
The U.S. military plans to spend hundreds of millions of dollars to build thousands of AI-enlivened drones, surveillance craft, and other nimble machines that are “small, smart, and cheap,” deputy defense secretary Katherine Hicks revealed in a 6 September speech to a defense industry conference in Virginia.
The IRS is using some of its $80-million windfall from last year’s Inflation Reduction Act to bring AI to bear in tracking down taxes not paid by hedge funds, real estate investors, limited liability partnerships, and wealthy individuals, The New York Times reported.
Google has finally begun selling PALM-2, its most powerful AI technology, to the general public in an attempt to make up for time lost to Amazon and Microsoft, which have been offering similar tools broadly for months.