The probability of recession in Australia occurring before the end of 2024 could be as high as 80 percent, according to modelling by the Reserve Bank of Australia (RBA). Internal documents from September 2022 published on Thursday under Freedom of Information laws reveal the most likely period for recession has already passed. In a more…
Up to 80 Percent Chance Recession Could Occur, Cash Rate to Peak at 4.8 Percent: RBA Internal Research
Is Inflation the New Normal?
Commentary Today finally ends the federal state of emergency for COVID. Along with that ends the terrible travel restrictions that have stopped the unvaccinated from visiting the land of the free. It seems incredible that we could ever become used to this. But it happened. And it went on for three years. This should serve…
Yellen Says Congress Risks Creating a Self-Made Crisis With ‘Unthinkable’ Debt Default
May 11, 2023
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Treasury Secretary Janet Yellen accused the Republican-controlled House of creating a self-made crisis over its stance on the debt ceiling. Yellen, who was attending a Group of Seven (G7) conference in Niigata, Japan, called on Congress to raise the $31.4 trillion federal debt limit to avert a U.S. government default that would trigger a global…
Jobs Growth Is Strong Until Recession Begins
May 11, 2023
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Business & MarketsBusiness ColumnistsChina NewsHong Kongjobsnonfarm payrollsOpinionrecessionViewpoints
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Commentary The latest released U.S. nonfarm payrolls continue on the upside to the surprise of the market, with a month-on-month (MoM) increase of 253,000 jobs beating expectations of 180,000 and the previous month’s 165,000. Despite the trend has been declining from 400,000 at the beginning of the year to over 200,000, which is not low…
Credit Crunch Could Weigh on US Economy, Stocks, Experts Warn
A credit crunch could worsen U.S. economic conditions, weighing on the stock market, according to financial experts. The Federal Reserve warned in two publications—the Financial Stability Report and the Senior Loan Officer Opinion Survey on Bank Lending Practices—that a credit crunch is forming in the national economy as financial institutions tighten credit terms and consumer…
IN-DEPTH: Inflation Still Too High for Fed to Start Lowering Rates, Experts Say
The latest inflation numbers are a mixed bag, accelerating sharply in monthly terms though easing a little in annual terms, with experts largely saying that the data remains too hot for the Federal Reserve (Fed) to start dropping interest rates. However, a pause in the rate-hiking cycle could be in the cards. While the annual…
US Corporate Bankruptcies at Highest Level in 13 Years
May 10, 2023
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U.S. corporate bankruptcies have reached their highest level since 2010. Many American companies have been stumbling in the wake of the pandemic due to increasing interest rates, supply-chain issues, and rising costs. Several of the firms have filed for bankruptcy after access to low interest loans and access to easy money began to wane. “For…
This Demoralized Generation Will Recover
Commentary Economic trends have a greater effect on the human spirit than we often recognize. Commercial life, and signs of it, bolsters the human spirit while the reverse is also true. As an example, my mother’s hometown in Texas often went through waves of booms and busts. When the boom times were there, everyone seemed…
The Rise of Conscious Consumerism
May 9, 2023
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Business & MarketsBusiness Columnistsconscious consumerismcorporatismOpinionrecessionU.S. economyViewpoints
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Commentary There is this joke in economics that says two people are walking along and one says “There’s a twenty dollar bill on the sidewalk.” The economist responds: “That cannot be true because someone would have already picked it up.” There is a weird truth to the joke that in economics class we learn about…
Americans Suffering Sharply Higher Levels of Financial Anxiety
May 9, 2023
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Business & Marketseconomic policieseconomyfinancial anxietyinflationmental healthpersonal financerecessionUSUS News
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Many Americans say they are suffering sharply from higher levels of financial anxiety as the economy takes a downturn. Money is now the prime cause of stress for most Americans, according to May 8 survey by Bankrate. At least 52 percent of respondents reported that personal finances have had a negative impact on their mental health,…
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