Inflation rose at a 4% annual rate in May, the lowest in 2 years
The inflation rate cooled in May to its lowest annual rate in more than two years, likely taking pressure off the Federal Reserve to continue raising interest rates, the Labor Department reported Tuesday. The consumer price index, which measures changes in a multitude of goods and services, increased just 0.1% for the month, bringing the […]
UK short-term borrowing costs shoot past ‘mini-budget’ crisis levels on strong labor data
The U.K. Treasury building. Matthew Lloyd | Bloomberg | Getty Images LONDON — U.K. borrowing costs, as measured by the yield on short-dated government bonds, rose above levels last seen following Britain’s market-destabilizing “mini-budget” after labor market data showed rising wage growth on Tuesday. The yield on two-year gilts was up 23 basis points to […]
The Poverty of Mushy Environmentalism
Contrary to what economists believe, there are no scarce resources. The public debt is a “social convention” as are government deficits. The physical world, however, is not infinite, and constitutes the sine qua non condition of mankind’s existence. There is one scarce resource: the earth. Preserving mankind from climate change is thus the supreme goal, […]
As Wildfire Smoke Clears, Scientists Warn Air Quality Impacts Aren’t Over
Yves here. When I lived in Sydney, there were several moderately bad bush fires to the west, turning the sky a sickly yellow that’s now becoming familiar first in California and now Canada and the northeast. Thanks to measures like the Clean Air Act and controls on auto emission levels, air quality has remained not […]
The Rule of Law – Trump is Finish?
QUESTION: Marty; This seems that the onslaught against Trump is a desperate attempt fearing that he would stop the war and reverse climate change. I have been reading you for years. You have great sources but also a great insight into what is happening in this corrupt world. I used to question your warnings that […]
Inflation report Tuesday is critical for the direction of Fed policy
Gas prices on a sign at a Shell gas station in San Francisco, California, US, on Tuesday, May 23, 2023. Bloomberg | Bloomberg | Getty Images Inflation data from May will show that the price increases that have been bedeviling consumers for the past two years are slowing down. The question, though, will be whether […]
Is the global housing slump over?
In Australia house prices have risen for the past three months. In America a widely watched index of housing values has risen by 1.6% from its low in January, and housebuilders’ share prices have done twice as well as the overall stockmarket. In the euro area the property market looks steady. “[M]ost of the drag […]
Inflation outlook hits two-year low in latest New York Fed survey
Shell gas station prices are seen on May 30, 2023 in Austin, Texas. Brandon Bell | Getty Images Consumers are growing more optimistic that inflation is on the way down, according to a New York Federal Reserve survey released Monday. The central bank’s monthly Survey of Consumer Expectations for May showed one-year inflation expectations down […]
Constraints Must Constrain: Becker and Backwards Induction
The most powerful weapon in an economist’s arsenal is the law of demand. When the price (or opportunity cost) of something increases, people will purchase, consume, or choose it less often. The law of demand is a common backbone for many arguments. If the spine breaks the body falls. Naturally, those who want to undermine […]
Breaking News Computer software
In transmitting, breaking news can be described as term used to relate to the event that warrants the interruption of regular programming to report its details. In the decades ahead of 24-hour news networks just like CNN began to be established, broadcasters generally limited the use of break-ins to really urgent occasions, like the fatality […]
