While some economists are flipping from pessimistic to increasingly optimistic the US will beat inflation without a near-term recession, some still preach the standard doom & gloom prophecy for the economy. Everything in their field always turns on the Keynesian Model of interest rates, with the standard fallout from higher interest rates always will depress […]

ASIA: Beijing’s efforts to attract the Middle East’s capital are proving successful, with a Dubai-based chamber of commerce expressing eagerness for business collaboration and positioning itself as a key partner in China’s Belt and Road Initiative. China has become a significant global trade partner for the UAE, with over $72 billion worth of non-oil trade […]

ASIA: In India, retail inflation reached a 15-month peak in July due to higher prices of vegetables and cereals. The inflation rate rose to 7.44% in July from 4.87% in June, the highest since April 2022. Food inflation, accounting for about half of the consumer expenses, surged to 11.51% in July compared to 4.49% in […]

  ASIA:   Meeting China’s annual economic targets is not optional, Premier Li Qiang said, with a strong message calling for increased resources and policy coordination. During a State Council meeting on Wednesday, Li stressed the need to expand domestic demand, boost private enterprise, attract foreign investment and build a modernized industrial system as China […]

ASIA:   The People’s Bank of China has reduced interest rates for medium-term lending and reverse repos, with a 15 basis point decrease for MLF (now 2.5%) and a 10 basis point decrease for reverse repos (now 1.8%). This move aims to counter the effects of the tax payment peak and maintain reasonable banking system […]

COMMENT: Marty, I hear Trump is to be arraigned, this time the first with a mugshot that will certainly go viral worldwide, on Aug. 25th. This is immediately after the BRICS summit on Aug, 22-24 with discussions of a new non-dollar trading currency. I can’t believe these lunatics are going to prove to the world […]

Britain’s four largest banks have reported that clients have withdrawn £78 billion, marking the steepest bank run since 2018. NatWest, Barclays, Lloyds, and HSBC all reported significant withdrawals in the 12 months leading up to June 2023. Worsening matters, the House of Commons Treasury Committee accused the four banks of “blatant profiteering” and “squeezing higher […]

Credit card balances in the US have surpassed $1 trillion for the first time, with balances up almost 20% from a year ago. The Federal Reserve Bank of New York reported that total credit card debt stood at $986 billion in the first quarter of 2023, unchanged from the record hit at the end of […]

Moody’s has cut the credit ratings of ten small and mid-sized banks. The agency cited higher funding costs, rising interest rates, and increased risked due to the failing commercial real estate sector. M&T Bank, BOK Financial, Webster Financial, Pinnacle Financial, Old National Bancorp, and Fulton Financial were among the banks that received downgraded ratings. But […]

ASIA:   The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 172.96 points or -0.53% to 32,204.33 Shanghai decreased 16.13 points or -0.49% to 3,244.49 Hang Seng increased 61.86 points or 0.32% to 19,246.03 ASX 200 increased 26.90 points or 0.37% to 7,338.00 Kospi increased 31.14 points or 1.21% to 2,605.12 […]