The Wall Street Journal today brings word that a professor Efraim Benmelech of the finance department at Northwestern University thinks the Fed is hurting housing and the consumer too much. Opined he, ...those higher interest rates are making mortgages more expensive...
After French protestors took the street to complain about the increase in the retirement age, I read quite a few jokes in social media about how protesting in France is the local pastime. That may be true, but let it not be said that Americans don't feel very, very...
The U.S. Bureau of Labor Statistics released new Producer Price Index (PPI) data on Wednesday, and it looks like the rate of increase in price inflation is slowing. Nonetheless, year-over-year price inflation in December remained near 40-year highs, and shows the...
Here we go again. Every few years in Congress there is a purely political battle over the debt ceiling. We're supposed to be horrified and worried that the U.S. might default on some of its debt. Some commentators will insist the U.S. has never defaulted, and that...
The US government is preparing to hand Ukraine assets confiscated from Russian businessmen under a scheme proposed by the Biden administration last year, which aims to target the wealth of “oligarchs” and pass it on to Kiev.
House Democrats finally obtained former president Donald Trump’s tax returns and promptly released them to the public. No one should have his tax returns released: not presidents, not politicians, not celebrities, not sports figures, not cab drivers. Released was...
You can count on the knuckleheads at Bloomberg to start off the year with still another dead-wrong proposition. That is, more nonsense about the “strong” labor market—-one so strong that it is purportedly even defying the mighty Fed. The latest US employment report is...
Russia After over 10 months of fighting between Russian and Ukrainian forces, there’s no sign that 2023 will bring peace to Ukraine as the warring parties have radically different demands, and the US continues to escalate aid for Kyiv and its role in the war. AWC...
The crash landing of the housing market continued in November. Existing home sales of just 4.09 million units at an annualized rate represented at staggering 37% drop from the 6.49 million rate posted in January. There has never been a drop this severe within a single...
South Korean President Yoon Suk-yeol has vowed more aggressive retaliation to military action by Pyongyang, calling to “punish” the DPRK soon after Seoul unveiled a new $440 million military spending package.
The 2023 National Defense Authorization Act (NDAA) increases the budget of the Pentagon’s newest branch by billions of dollars. The funding increase comes after a top Space Force civilian employee sexually harassed his subordinates and kept his job.
Russia Congress unveiled on Tuesday a massive $1.7 trillion omnibus funding bill that includes $45 billion in new Ukraine aid, which will bring total US spending on the war to about $112 billion. AWC Russia’s Foreign Ministry warned on Monday that Washington’s...
Just as I predicted back in October, Congress pushed its discretionary spending deadline back by one week, from December 16 to December 23. This comes as no surprise as congressional leadership is once again trying to ram through a massive omnibus bill before the year...
Kosovo Serbia has formally asked NATO if it can deploy up to 1,000 troops into northern Kosovo, where Serbian President Aleksandar Vucic says ethnic Serbs are being “terrorized” by the Kosovo government based in Pristina. AWC Russia The Senate on Thursday night passed...
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