Around the world, central banks are raising interest rates at the fastest clip in at least 40 years, stressing some markets to the point of cracking, according to The Wall Street Journal. Corporate bonded debt is showing signs of distress, the WSJ noted, and which we reported in “OECD Warns About Corporate Debt” (25 Feb......
The U.S. economy’s addition of 263,000 jobs in September shows the labor market is strong enough to withstand another three-quarter-point interest rate increase when the U.S. Federal Reserve meets in early November, The Wall Street Journal said.
Since July began, analysts at the largest U.S. banks have pared $34 billion off their expectations for third-quarter growth among American corporations listed on the Standard & Poor’s 500 index, FactSet reported.
On 23 September, General Motors told employees that they are to be in their corporate offices at least three days a week beginning later this year.
In August, after sales of existing homes declined for a sixth consecutive month, the National Association of Realtors (NAR) predicted that “we may see two or three additional months of some decline—nothing meaningful," Lawrence Yun, NAR’s chief economist, told Business Insider.
On 27 September, lumber futures prices dropped to $429.30 per thousand board feet, falling 60 percent from their peak last March to levels preceding the COVID era and its building boom, according to Random Lengths, an industry research service.
Last week, U.S. mortgage interest rates rose to their highest levels since July 2007 during the Great Recession.
The U.S. Federal Reserve is watching the turmoil that the strong dollar is causing in emerging markets, but still will continue to raise interest rates in its struggle to control inflation, Fed vice-chair Lael Brainard said at a Fed-sponsored conference last week.
Watch, look, and listen. The global economy is going down the drain. It has been flushed into ruin by egotists called politicians, central bankers, and bureaucrats that the masses look up to and obey.