News and Trends
Price pinch: global economy caught in perfect storm- Reuters--10.14.21
Consumers are starting to feel the pinch from the surge in costs coursing through the global economy. The easing of coronavirus restrictions has exposed supply chain shortages, with firms scrambling for workers, ships and even fuel to power factories.
Brace For Price Shock: Americans' Heating Bills To Soar Up To 50% This Winter- Zero Hedge--10.14.21
According to the IEA's October winter fuels outlook, nearly half of U.S. households that warm their homes with mainly natural gas can expect to spend an average of 30% more on their bills compared to last year.
US headed into another recession if consumer sentiment trend continues, economists say- Fox Business--10.11.21
The U.S. economy appears to be sliding into another recession based on declining consumer sentiment. According to economists, the downtrend movements in consumer expectations over the past six months are evidence the U.S. is heading towards a recession.
Goldman Sachs cuts its US GDP forecast for a 3rd straight month because of the 'virus drag' on consumer spending- Markets Insider--10.11.21
Goldman Sachs has cut its U.S. GDP forecast for 2021 and 2022 based on the hit to consumer spending. This is the third straight month in a row that Goldman Sachs has cut its forecast.
The debt limit is still a ticking time bomb- CNN Business--10.8.21
After weeks of gridlock, Congress is on track to extend the debt ceiling. The solution however, merely moves the new fiscal cliff to December, aligning the deadline with other imminent crises.
U.S. Job Growth Falls to Slowest Pace of Year - Wall Street Journal--10.8.21
U.S. job growth fell to the slowest pace of the year in September, a sign the Delta variant and a persistent shortage of workers weighed on the economic recovery. Many workers gave up the job search and exited from the labor force last month, causing the unemployment rate to fall.
Experts Say Prices At Grocery Stores Will Continue To Rise For Over A Year- CBS Local--10.5.21
Wholesale prices are at a record high and some supplies are scarce. According to new figures released by the labor department, wholesale inflation jumped 8.3 percent from August of this year compared to August of 2020.
This veteran analyst hears echoes of the 1929 crash in today’s stock market - Market Watch--10.5.21
On market expert is predicting that U.S. stocks may be "on the verge of starting the biggest bear market since the Great Depression."
Dow drops 500 points on September’s final day, S&P 500 suffers worst month since March 2020- CNBC--9.30.21
U.S. stocks saw a major pull back on Thursday as Wall Street finished its worst month of the year on a negative note. The weakness in the market came amid rising rates, inflation fears and concerns about the Chinese property market impacting stocks.
House aligns with Senate and votes to avoid government shutdown with short-term funding bill- Fox Business--9.30.21
The House and Senate on Thursday approved a bill to fund the government though December 3rd and avert a government shutdown for now. This is one of several political issues being followed closely by the markets, which has fallen amid uncertainty surrounding the passage of a bipartisan infrastructure bill and President Biden's spending package.
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