Tag: jun 29 2021

In May, the Core Personal Consumption Expenditures Price Index, which the U.S. Federal Reserve views as the most reliable gauge of inflation, shot up 3.4 percent compared to a year earlier, the U.S. commerce department reported.  This represents the biggest 12-month increase since April 1992, according to CNBC. Separately, the department reported that also in...

Consumer spending on goods in May rose 20 percent from February 2020’s amount, with spending on services only 1 percent below pre-shutdown levels.  With inflation on the rise, overall spending maintained April’s volume, when consumers paid 0.9 percent more for goods and services than in March. Spending on recreation grew 3.5 percent last month, the...

Once upon a time – before American politicians stole the people’s money to enrich the military industrial complex and sent its young men to fight and die in endless wars, and killed its manufacturing sector by outsourcing its production to those “dirty commie countries” – America was the unrivaled “Land of Opportunity.” Those days are...

Investors will learn “a pretty expensive lesson” when they see that some companies that have gone public through special-purpose acquisition companies (SPACs) played “fast and loose with their projections” to “create castles in the sky,” James Chanos, founder of hedge fund Kynikos Associates, said in a statement quoted by the Financial Times. Chanos, known as...