ASIA: Group of Seven democracies have had positive and productive discussions with China and India about a plan to cap the price of Russian oil, a source familiar with the G7 discussions said on Tuesday, adding the two major oil consumers would have incentives to comply. The price-per-barrel cap level had not yet been determined, […]

The West has forced Russia into its first foreign debt default since 1918. You really have to wonder exactly how our world leaders rationalize their reasoning. Strangely, this was actually cyclically on target. It was two groups of 6 waves of 8.6 years, making it 104 years. It is interesting how Socrates had targeted that […]

ASIA: China’s Premier Li Keqiang said that China’s economy has recovered to some extent, but its foundation is not solid. Speaking to state media he further added that China will strive to drive the economy back onto a normal track and bring down the jobless rate as soon as possible. China’s nationwide survey-based jobless rate […]

ASIA: Chinese President Xi Jinping made a rare statement Wednesday about his country’s aims to achieve its economic goals for the year. Investment analysts have cut their forecasts for China’s GDP growth to well below the official target after stringent Covid controls restricted business activity in the last few months. The median GDP forecast among […]

Powell addressed Congress on Wednesday to curb inflation fears. The Fed is stuck between a rock and hard place right now as some must lose in order for the situation to improve. Not one to mince words, Sen. John Kennedy said, “We got a hell of a mess right now. You’re the most powerful man […]

ASIA: Some Bank of Japan board members were concerned that excessive currency volatility could disrupt corporate business plans, minutes of the bank’s April meeting showed, highlighting the challenge for policymakers from the yen’s sharp declines. At the April 27-28 meeting, the BOJ strengthened its commitment to keep interest rates ultra-low by vowing to buy unlimited […]

ASIA: The UAE has placed a ban on the export and re-export of all varieties of wheat from India for four months. The resolution applies to all varieties of wheat and wheat flour, which were imported into the country before 13, May 2022, the ministry of economy said in a statement issued on Wednesday. The […]

ASIA: India has witnessed the sharpest rise among the Asian economies, with a six-position jump from 43rd to 37th rank on the annual World Competitiveness Index compiled by the Institute for Management Development, largely due to gains in economic performance. Japan’s Nikkei index fell for a third day on Tuesday amid risks to growth from […]

The various handouts and moratoriums during the pandemic drove the personal savings rate down to World War II levels. Everything was closed – there weren’t many opportunities to spend. US consumers paid off a record $83 billion in credit card debt during the pandemic, but that has all come crashing down. The Federal Reserve reported […]

The Biden Administration reiterated that its $1.9 trillion 2021 American Rescue Plan awarded “resilience” to the US economy. The remarks come after the plan, and the administration’s overall spending came under harsh criticism from economists on both sides of the political spectrum. Senior advisor Gene Sperling stated that the plan would actually help to bring […]