Text size A CSX train in La Grange, Kentucky, on Jan. 13. Luke Sharrett/Bloomberg Freight rail stocks seemed a potentially safe place for investors who wanted to avoid trouble from the economy’s slowdown. Those hopes were derailed this week as railroads reported pinched earnings and worrisome outlooks. While the S&P 500 index rose about 2.5% … Read more
Initial and continued unemployment claims data from the BLS, months calculation by Mish Current data is easily within a timeframe that recession may have started. In half of the last eight recessions, a recession had already started on the current numbers. Continued Claims Monthly Average Continued unemployment claims monthly average from the BLS, chart by … Read more
While Canadians were busy watching soccer and pursuing their holiday shopping, the Auditor General (AG) dropped a new report that looked at payments to individuals and program spending related to COVID-19 pandemic relief. According to the last budget’s annex, the COVID-19 Economic Response Plan was worth $352.2 billion, comprising $69.4 billion in health and safety … Read more
M1 and M2 numbers are from the Fed, ODL is a derivative of M2, described below. Data for the above chart is from the Fed’s H.6 Money Stock Report, released January 24. Monetary Definitions M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits … Read more
Corn and soybean markets are being pressured by rains falling in South America. The “otherwise parched” region is welcoming that precipitation, and with added anticipation of a big South American crop, U.S. prices are taking a hit, Jack Scoville of Price Futures Group said. “Brazil has been hanging on for its summer crop but Argentina … Read more
Artificial Intelligence Sergey Tarasov – stock.adobe.com The Market Power of Technology, Understanding the Second Gilded Age, by Mordecai Kurz, is a good textbook that helps to explain how technology and intangible assets has changed the economy. I’ve long talked about how the technological revolution is critically different than the industrial one, and this book wraps … Read more
Text size Conditions in the U.S. were already enough to justify a pause in the U.S. Federal Reserve’s rate-increase, Desmond Lachman writes. Kevin Dietsch/Getty Images About the author: Desmond Lachman is a senior fellow at the American Enterprise Institute. He was a deputy director in the International Monetary Fund’s Policy Development and Review Department and … Read more
Illuminating Company customers who are having difficulty paying their heating bills are encouraged to contact the utility now to enroll in payment plans or to receive referrals for bill assistance programs. More than 55 million Americans struggled to pay their energy bills in 2021, and it’s likely many millions more are struggling this year. Heating … Read more
Setting Financial Goals and Creating a Plan: Achieving Financial Success Financial wellness is a term that refers to the overall health and well-being of an individual’s finances. In order to achieve financial wellness, it is essential to understand and manage the five key elements of personal finance: spending, saving, borrowing, planning and protecting. 1. Spending: … Read more
GDPNow data from the Atlanta Fed, Chart by Mish. Chart Notes The blue line is the base forecast. It is about all the public sees or hears about when the BEA releases its GDP reports, but it isn’t what matters most. The red line is Real Final Sales (RFS). That is the bottom line estimate … Read more