As we have long noted, there is absolutely no connection between Wall Street and Main Street. They are two different worlds. The equity markets keep going up as most of the global economy goes down.
Tag: U.S. Economy
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WHY U.S. INFLATION IS STILL A PROBLEM
Top-line inflation in the U.S. fell to 2.4 percent in September. Goldman Sachs analysts are speculating that the number could be rounded down to the U.S. Federal Reserve’s 2-percent target when the Bureau of Economic Analysis releases the updated Personal Consumption Expenditures Price Index on 31 October.
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STRAPPED CORPORATE BORROWERS DEFER PAYMENTS TO CONSERVE CASH
Companies that have borrowed from private credit funds and now face a financial squeeze are using a tactic called “payment in kind” (PIK) to skip their payments and conserve their cash.
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HEALTH INSURANCE COSTS ROSE 7 PERCENT IN LAST 12 MONTHS
Inflation may be easing, but the cost of health insurance is still on the rise.
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SEPTEMBER CONSUMER SPENDING BEATS FORECAST; JOBLESS CLAIMS FALL
U.S. consumer spending grew 0.4 percent in September, more than the 0.3 percent expected by Dow Jones and much stronger than August’s estimated 0.1-percent gain.
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DEFICIT TOPS $1.8 TRILLION AS INTEREST PAYMENTS SURPASS $1 TRILLION
The U.S.’s annual budget deficit grew by $138 billion, or 8 percent, in the fiscal year that ended 30 September to $1.833 trillion.
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ASML SINKS CHIP STOCKS
On 16 October, Dutch tech firm ASML, which makes machines that make computer chips, warned of a slow year ahead in the semiconductor industry, outside of sales related to artificial intelligence (AI).
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ECONOMIC UPDATE – MARKET OVERVIEW
Not a peep from the Presstitutes—media whores who get paid to put out by their Corporate Pimps and Government Whore Masters—that gold prices keep hitting record highs.
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SPOTLIGHT: BIGS GETTING BIGGER
BlackRock, the world’s richest private equity firm, has announced that it is managing about $11.3 trillion for investors, the most money it has ever had under its control.
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MEGABANKS REPORT DECENT THIRD-QUARTER RESULTS
JPMorgan Chase and Wells Fargo, two of the “Big Four” U.S. banks reported lower profits in the third quarter but still exceeded analysts’ forecasts.