Commentary Last Summer I had concluded that something ‘fishy’ was going on in the world. Many of the responses to the Coronavirus pandemic made no sense, i.e., they were extremely destructive to economies and humans in general. Still, they were kept in place in many countries, while governments took an ever-increasing role in our economies….
Can Biden Help Housing?
Commentary At one time or another, every politician—local, state, and federal—promises to help create “affordable housing.” The issue has become especially critical of late with rents and housing prices rising and higher interest rates making it more difficult to support a mortgage. The Biden administration has responded with a five-point program. Some of its elements…
Turkey’s Annual Inflation Surges 73.5 Percent to 24-Year High
June 3, 2022
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Business & Economyeconomic policieseconomyinflationinflation ratesMiddle EastPresident Tayyip ErdoganTurkeyWorld
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The annual inflation rate in Turkey jumped to its highest level in over two decades in May alongside a falling lira, according to official data released by the Turkish Statistical Institute (TUIK). The measure of inflation, Consumer Price Index (CPI), grew by 73.5 percent in May from a year back, a June 3 press release…
Chinese Stocks Face Massive Delisting As US Fortifies Investor Protection
News Analysis Once upon a time, Chinese stocks enjoyed a certain privilege in the United States, a getaway from the scrutiny of the Public Company Accounting Oversight Board (PCAOB), which all foreign companies listed in the United States need to undergo. Now, the chair of the U.S. Securities and Exchange Commission (SEC) is adamant that Chinese…
Biden Jabs at Musk’s ‘Super Bad Feeling’ About Economy, Musk Replies With Disarming Tweet
June 3, 2022
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Business & EconomyCompanieseconomyElon MuskExecutive BranchInvestmentJoe BidenMarketsPoliticsUSUS News
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President Joe Biden took a jab at Tesla CEO Elon Musk’s “super bad feeling” about the economy comment when asked about it at a Friday press briefing on the government jobs report, insisting the labor market is in good health and suggesting Musk was out of touch with reality, drawing a reaction from Musk on Twitter….
South Korea’s Inflation Rate Jumps to Nearly 14-year High
The inflation rate in South Korea jumped to 5.4 percent in May from the previous year, hitting a near 14-year high amid soaring crude oil and commodity prices triggered by the Russia-Ukraine war. Statistics Korea reported Friday that consumer prices accelerated from an on-year increase of 4.8 percent in April, marking the fastest annual growth…
American Airlines Fuel Cost Warning Eclipses Upbeat Revenue Forecast, Shares Fall
American Airlines Group Inc. shares fell 7 percent on Friday as investors looked past the carrier’s upbeat revenue forecast and instead focused on its warning of a hit from higher fuel costs and staffing problems. A steady surge in fuel prices due to geopolitical tensions and a chronic labor shortage are threatening to upset a…
President Biden Points to the Wrong Curve
Commentary The Institute of Supply Management (ISM) reported that its purchasing managers’ index (PMI) for the U.S. manufacturing sector rebounded slightly in May 2022 from April, rising to 56.1 from 55.4. These are still relatively low numbers, particularly for an economy that is supposed to be robustly booming, comparable to the global downturn in 2019….
Can the Medical-Industrial Complex Be Fixed?
News Analysis So many charts from this period of our lives will amaze future historians. The one that stands out to me, about which I’ve seen very little commentary, is that which shows consumer spending on medical services taking a deep dive during a pandemic that everyone says was the worst in 100 years. Would…
Japan’s Service Sector Activity Grows at Fastest Pace in 6 Months—PMI
TOKYO—Japan’s services sector activity grew at the fastest pace in half a year in May as consumer sentiment recovered further following the easing of coronavirus curbs, though high energy and material costs pushed up input prices by a record rate. The final au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) rose to a seasonally…
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