Near the close of U.S. equity markets yesterday, CNBC wrote, “Stocks fell Monday on fears the Federal Reserve may continue tightening until it steers the economy into recession.”
Tag: U.S. economy
European and U.S. stock markets have bounced back from their late September lows, with the Standard & Poor’s 500 index reclaiming about 13 percent.
It’s all about the bottom line. And since the Panic of ’08 when the Bankster Gangsters began a scheme called quantitative easing and shrunk interest rates to negative and zero rates...the bottom line was cheap money printed out of thin air and backed by nothing that artificially drove up U.S. and European economies.
Workers are returning to companies’ central offices but not in the numbers that pertained to before the COVID War. There is “dimming hope that office buildings will ever refill,” The Wall Street Journal noted.
Since the Internet Revolution began in the 1990s, major technology firms have gobbled up prime office space in Austin, Baltimore, Boston, Detroit, Nashville, Los Angeles, New York, San Diego, San Francisco, and other centers of innovation.
In the week ending 17 November, the average U.S. interest rate for a 30-year, fixed-rate mortgage was 6.61 percent, the Federal Home Loan Mortgage Corp. (Freddie Mac) reported, falling from 7.08 percent the week before and plunging at the steepest pace since 1981.
In October, the number of existing U.S. homes sold declined for the ninth consecutive month, dropping by 5.9 percent from September and down 28.4 percent from a year earlier, the National Association of Realtors (NAR) reported.
In the gambler’s world, reality does not count.
Week after week, from the International Monetary Fund, World Bank, Organization for Economic Cooperation and Development, etc., we report on their ongoing economic downgrades across the globe... yet equity markets have not crashed and many keep rising.
Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
In July through September, cruise line Royal Caribbean booked twice as many 2023 reservations than in the previous quarter this year. Corporate travelers are booking car rentals at a brisk pace. Hotels are seeing more guests, even as room rates rise with inflation.