CBO Raises 2024 US Budget Deficit Forecast by 27% to Nearly $2 Trillion
The Congressional Budget Office (CBO) has increased its 2024 US budget deficit forecast by 27% to nearly $2 trillion, highlighting significant federal borrowing. The deficit is now projected at $1.92 trillion, up from $1.69 trillion in 2023, due to additional spending and student-loan relief measures. The CBO also predicts faster growth and higher inflation, with […]
Gold Prices Rise as Market Eyes Potential Fed Rate Cuts
Gold prices reached a one-week high early Thursday, driven by expectations of a Fed rate cut due to signs of easing inflation and a slowing US economy. Geopolitical risks in Europe also supported gold, although a stabilizing US Dollar and rebounding bond yields kept the price below the 50-day Simple Moving Average.
New York’s Top Court Declines To Hear Trump’s Gag Order Appeal
New York’s Top Court Declines To Hear Trump’s Gag Order Appeal Authored by Jack Phillips via The Epoch Times (emphasis ours), The top court in New York state just declined to hear former President Donald Trump’s appeal of a gag order relating to his falsification of business records case. (Left) Judge Juan M. Merchan on […]
Continuing Jobless Claims Keep Rising, California Initial Claims Crash
Continuing Jobless Claims Keep Rising, California Initial Claims Crash After the prior week’s surge to 10-month highs (on the back of California claims suddenly soaring after Newsom introduced his brilliant $20 min wage fast food gambit), analysts expected a small dip in claims last week… and they were right with initial claims falling from 243k […]
US Housing Starts & Building Permits Plunge To COVID Lockdown Lows
US Housing Starts & Building Permits Plunge To COVID Lockdown Lows Despite ugly consumer confidence and soaring mortgage rates, analysts expected a small rebound in housing starts and building permits in May (after April’s disappointing misses). They were wrong… again… as both Starts and Permits plunged MoM (-5.5% MoM and -3.8% MoM respectively)… Source: Bloomberg […]
Bank of England Keeps Rates Unchanged In “Dovish Hold”, August Rate Cut On Deck
Bank of England Keeps Rates Unchanged In “Dovish Hold”, August Rate Cut On Deck Unlike the SNB, which unexpectedly cut rates earlier this morning (full breakdown coming shortly), the Bank of England did not surprise markets and kept rates on hold at a 16 year high of 5.25%, even as it hinted that more policymakers may […]
US Stocks At All-Time High, Nasdaq Futures Gains For 8th Day After SNB Unexpectedly Cuts Rate
US Stocks At All-Time High, Nasdaq Futures Gains For 8th Day After SNB Unexpectedly Cuts Rate After hitting the beach during yesterday’s blistering Juneteenth holiday, the “buy everything” algos are back and bigger than ever, pushing futures to a fresh all time high with tech leading – as always – and small-caps lagging after the […]
All Of The World’s Trillion-Dollar Companies In One Chart
All Of The World’s Trillion-Dollar Companies In One Chart Chipmaker Nvidia is now the world’s most valuable company, which means its time for an update to our frequent “trillion-dollar club” post. In this graphic, Visual Capitalist’s Marcus Lu visualized the market capitalizations of the world’s trillion-dollar companies, as of June 18, 2024. Included for additional context is […]
Canada Is America’s Least Helpful Ally
Canada Is America’s Least Helpful Ally Authored by Julian Spencer-Churchill via RealClearDefense, Canada’s defense minister Bill Blair has declared, by strangely including future spending on its arctic surveillance network, that “I believe it brings us inevitably to over 2 per cent of defence spending.” This is an old Canadian trick of appealing to American anxieties […]
Watch: Gavin Newsom’s Oakland, California Transformed Into Warzone On Juneteenth
Watch: Gavin Newsom’s Oakland, California Transformed Into Warzone On Juneteenth Dramatic footage has surfaced on X showing a Juneteenth celebration in Oakland, California, which was transformed into a warzone in the overnight hours. What appears to be gang-on-gang violence sparked an insane shootout on city streets. In a state governed by radical leftist Gavin Newsom, where common sense law […]