They will never learn. Federal Reserve Chairman Jerome Powell apologized for calling inflation “transitory” when all data pointed to it rising. The White House conveniently changed the definition of a recession days before the GDP data was released and declared that two consecutive quarters of decline no longer qualified as a recession. Now, Treasury Secretary […]

The supply chain crisis is an ongoing disaster that has greatly contributed to inflation. Treasury Secretary Janet Yellen has been touting the idea of “friend-shoring” for over a year. Not to be confused with onshoring or nearshoring, friend-shoring will somewhat limit the supply chain to allied nations. Why on Earth would we want to limit […]

ASIA: Singapore’s economy grew 4.8 percent year-on-year in the second quarter of 2022, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Thursday (Jul 14). On a quarter-on-quarter seasonally adjusted basis, Singapore’s gross domestic product (GDP) was unchanged in the second quarter after posting an expansion of 0.9 percent in […]

ASIA: India’s gold imports in June nearly trebled from year-ago levels on correction in prices and as jewelers replenished inventories after robust sales during a key festival, Reuters reported. Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices, but the surge may increase India’s trade deficit and put pressure on ailing […]

Senator John Kennedy (R-LA) ripped into the entire Biden Administration for economic mismanagement. “Treasury Secretary Janet Yellen — who was also captain of ‘Team Transitory Inflation’ — announced she’s really sorry but inflation’s not gonna [sic] be transitory, it’s gonna [sic] be with us for a long while,” Kennedy recounted. “In other words, she does […]

Unfortunately for Biden, the Great Unwashed is not gullible enough to accept his explanation that Putin is to blame for inflation. A Convention of States Action/Trafalgar Group survey found that most respondents (59.9%) believe Biden’s policies are the “leading contributor” to rising prices. Around 87.9% of Republicans and 61.1% of Independents cited Biden as the […]

ASIA: US President Joe Biden said he’ll review Trump-era tariffs imposed on imports from China amid growing calls from businesses to remove the levies, fueling a rally in the offshore yuan. Biden said he’s considering removing some of the tariffs and would talk with Treasury Secretary Janet Yellen about it after returning to the US […]

ASIA: China’s economy grew 4.8 percent in the first quarter, the National Bureau of Statistics said Monday, warning of “significant challenges” ahead as a resurgence of the coronavirus threatens Beijing’s ambitious annual target. China’s gross domestic product growth was better than expected at 4.8 percent on-year in the first quarter, said the NBS on Monday, […]

The REASON Biden needs war is very simple. The world monetary system is collapsing. The negative interest rates in Europe since 2014 have wiped out all the pension funds that needed 8% to break even. This is what is being the Guaranteed Basic Income because the politicians have destroyed the future of pensions. Even in […]

ASIA: Asian spot liquefied natural gas (LNG) prices declined this week, tracking European gas prices which fell due to stable Russian gas flows and LNG supply. The average LNG price for April delivery into north-east Asia was estimated at $38.00 per metric million British thermal units (mmBtu), down $2.50, or 6.2% from the previous week, […]