Total Household Debt Hit a Record $16 Trillion in Q2
August 3, 2022 by Michael Maharrey 0 0 Personal income from all sources adjusted for inflation — real income — fell for the second straight month in June...
Hello Recession Deniers, It’s Already Time to Ponder a Third Quarter of Negative GDP – Mish Talk
GDPNow Data from Atlanta Fed. Chart by Mish. Latest estimate: 1.3 percent — August 1, 2022 Economic data for the third quarter is only a...
Former US Treasury Secretary Larry Summers pegs recession likelihood at 75% chance
Business Insider/Kimberly Leonard/8-1-2022 “‘The market is now judging that interest rates are likely to fall between 2023 and 2024 in a quite significant way, which...
Australia’s Housing Downturn Accelerates: In Sydney, Sharpest Price Drops “in Almost 40 Years”
Sales volume plunged in Sydney and Melbourne. Rate hikes bite, yet the Reserve Bank of Australia just started hiking. By Wolf Richter for WOLF STREET. The Reserve Bank...
The global housing boom is running out of steam
Simon Smith/Stuff Is the global housing market really running out of steam? ANALYSIS: Diana Mousaly spent months searching for a home in Windsor, Canada’s southernmost...
U.S. household debt tops $16 trillion amid rising inflation
(Reuters) – U.S. household debt increased to a record $16.15 trillion in the second quarter, driven mostly by a $207 billion jump in mortgage balances,...
Credit card debt surges as inflation drives up costs
Comment on this story Comment Credit card debt surged in the United States from April through June as Americans borrowed billions of dollars to continue...
Economist Jayati Ghosh: Global Debt Crisis Is Perfect Storm of Unrest, Economic Disaster, Starvation
This is a rush transcript. Copy may not be in its final form. AMY GOODMAN: The International Monetary Fund warned Tuesday soaring inflation and the...
‘The Fed Unbound’ Review: Whose Money Is It Anyway?: WSJ
There are many good reasons to decentralize the power of money creation. But the Federal Reserve has let things get out of hand. [ad_2] Source...
The ‘Wishful Thinking’ Fed Is Anything But ‘Neutral’
With last week’s second 75 basis-point rate hike, the Federal Reserve now claims it has achieved a “neutral” monetary policy stance. That would mean, in...