EXPLAINER: Why is a bear market close to Wall Street?

NEW YORK (AP) – The bears are rumbling toward Wall Street. The stock market’s skid has taken off this year with the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices of … Read more

Milk prices: Why you could be 50% more this year

Prices are rising at the fastest pace, creating a cost-of-living crisis that’s what the tough choices are about to make the world around people. The United Kingdom is no exception: inflation hit a 40-year high of 9% in April and a forecast to peak at 10% this year. The high cost of fuel and heating … Read more

The Age of Rationing – The American Prospect

Inflation will continue to be the number one issue facing the country until it subsides, because it offends American myth. We’ve been told since time immemorial that capitalism has a perfectly calibrated economy so that anyone can get anything, anytime, however they want. And the wonders of globalization and other efficiencies will grind down to … Read more

3 rate hikes to come this year, with more to follow: ECB official – POLITICO

VIENNA – European Central Bank Governing Council Member Robert Holzmann has a clear message: Be prepared to say that eurozone at negative interest rates. To gain control over inflation, the ECB should raise interest rates three times this year before hitting 1.5 percent or higher in 2023, according to Holzmann’s POLITICO at his Vienna office. … Read more

The zombie economics of inflation and unemployment

Bad economic ideas can have a frustratingly long shelf life. Amid surging consumer and producer prices, the apparent tradeoff between inflation and unemployment is a hot topic. There’s just one problem: the tradeoff doesn’t exist. Economists have known for 40 years. Policymakers and commentators are the ones who should get the program done otherwise. The … Read more

The Slow Crash on Wall Street Likely Isn’t Over Yet

After six days in a row, US financial markets rebounded on Friday, with all major stock indices posting gains, and the Nasdaq enjoying its biggest rise in percentage terms — 3.8 per cent — since November 2020. Some beaten-up cryptocurrency Trading screens provided for much-needed relief. However, all this needs to be put into perspective. … Read more

The Economy About Nine Worrying Signs

Sign up for Derek’s newsletter here. The American economy isn’t looking great right now. US GDP shrank last quarter, most likely showing a heartbeat from American consumers. Inflation is high; markets are down; Both wages and personal-savings rates show some troubling statistical signals. Is the US destined to have a recession in 2022? For sure … Read more

5 things to know for May 12: Ukraine, Abortion, Inflation, Overdoses, California fire

CNN – Air travel in the US is back in full swing, but the return to the skies hasn’t been entirely smooth. Passengers are frustrated by packed flights, as well as an increase in disruptive passenger incidents, flight cancellations and soaring air fares, according to a new survey. Here’s what you need to know to … Read more