Housing market is frozen, people have gone on buyers’ strike, and sellers are hoping that this too shall pass. The median price of existing single-family houses, condos, and co-ops in the US whose sales closed in December dropped to $382,600, down by 7.5% from the peak in June 2022, according to data from the National Association […]
https://thepricklypear.org/wp-content/uploads/iStock-115938975-scaled.jpg16372560Wolf Richterhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngWolf Richter2024-01-23 00:28:572024-01-23 09:23:14Amid Collapsed Demand for Existing Homes, New Listings Come out of the Woodwork
Americans are worried about the national debt, according to the results of a new poll. Americans have the national debt crisis as one of their top concerns along with war, inflation, and crime. Those polled think the overspending has a direct impact on their personal security and also has an impact on the security of […]
Armed with income increases that outran inflation by a wide margin in 2023, they continue to splurge, no matter what. Total retail sales jumped by 0.6% seasonally adjusted in December from November, and by 5.6% year-over-year, to $710 billion. Not seasonally adjusted, retail sales jumped to $771 billion, according to Census Bureau data today. Despite price drops […]
Gold is the sole international banking asset that is not someone else’s liability. It is not a promise to pay from the US and it can’t be printed out of thin air. And you can hold it in your own vaults, outside of the weaponized international banking system. The world operated on a gold standard for centuries, so it is not unproven as are cryptocurrencies. It can’t get hacked or have accounts frozen. If you have it in possession, the holder controls the asset.
https://thepricklypear.org/wp-content/uploads/iStock-1061353850_vault.jpg7681280Neland Nobelhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngNeland Nobel2024-01-17 00:30:162024-01-17 11:32:48Stealing Russia’s Assets to Pay for the War in Ukraine
On January 1st, 22 states and 38 cities and counties raised their minimum wages, sparking some celebration for 10 million workers who get a pay hike, and many doubts for the rest. While this is perhaps a well-intentioned policy, intentions don’t indicate a policy’s effectiveness. Many economists argue that this decision will disadvantage the people it aims to help, […]
https://thepricklypear.org/wp-content/uploads/iStock-672973502.jpg15321956Vance Ginnhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngVance Ginn2024-01-16 00:26:382024-01-15 06:49:5322 States Raised the Minimum Wage: What Does This Mean for Low-Skilled Workers?
Used vehicle prices at auctions fell another 0.5% in December from November, seasonally adjusted; and by 2.0%, not seasonally adjusted, according to the Manheim Used Vehicle Value Index today. Manheim is the largest auto auction house in the US and a unit of Cox Automotive. Its auction venues sell about 5 million vehicles a year. […]
https://thepricklypear.org/wp-content/uploads/pre-owned-vehicles-6893760_1280.jpg8531280Wolf Richterhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngWolf Richter2024-01-12 00:26:342024-01-11 09:08:09Used-Car Wholesale Prices Have Given Up 53% of their Crazy Pandemic Price Spike: Historic Plunge Continued in December
Just before the start of 2024, the US Federal debt surpassed a new milestone: $34 trillion. In 2023 the US added $2.65 trillion in debt, the second largest annual increase in history after the 2020 increase of $4.5 trillion. Going back to 1995, Federal Debt has increased by just over $1 trillion per year, but […]
https://thepricklypear.org/wp-content/uploads/Screenshot-2024-01-10-at-7.11.27-PM-1.jpg309640Peter C. Earlehttps://thepricklypear.org/wp-content/uploads/logo_2023.pngPeter C. Earle2024-01-11 00:28:222024-01-10 20:14:31$34 Trillion and Climbing
The question of debt and deficits has been vexing the US political system since chronic deficits began to be realized after the Great Society legislation of the 1960s. But while troublesome, the issue has moved apparently to irrelevancy. The term “existential threat” gets tossed around easily today while the real existential threat is right in […]
https://thepricklypear.org/wp-content/uploads/moneyspiral-scaled.jpg17062560Neland Nobelhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngNeland Nobel2024-01-08 00:30:232024-01-05 06:08:59A Crisis Ignored Is A Crisis Fulfilled: A U.S. National Debt Odyssey
Americans are struggling economically going into 2024, as harsh economic conditions in 2023 drained savings accounts, with factors like ever-rising prices and high-interest rates weighing down consumers, experts told the Daily Caller News Foundation. U.S. recession predictions are mixed going into 2024, with some credible sources like Deutsche Bank and Société Générale predicting a recession in […]
https://thepricklypear.org/wp-content/uploads/iStock-167786996-scaled.jpg17072560Will Kesslerhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngWill Kessler2024-01-04 00:30:222024-01-04 08:51:37Americans’ Finances Took A Beating In 2023 Amidst Persistent Inflation And High Interest Rates
The Environmental, Social, and Governance movement has wrapped itself in the garb of justice. It is just as much a moral crusade as it is an economic, social, or political one, with the unfortunate effect that those who criticize ESG can easily be sidelined and dismissed as reactionary, selfish, or worse. Be that as it […]
Amid Collapsed Demand for Existing Homes, New Listings Come out of the Woodwork
/in Economy, Featured, Latest News, Personal Finance/by Wolf RichterHousing market is frozen, people have gone on buyers’ strike, and sellers are hoping that this too shall pass. The median price of existing single-family houses, condos, and co-ops in the US whose sales closed in December dropped to $382,600, down by 7.5% from the peak in June 2022, according to data from the National Association […]
Poll Finds Americans Worried About National Debt
/in Economy, Featured, Latest News, National Debt, Personal Finance, Politics/by Brett RowlandAmericans are worried about the national debt, according to the results of a new poll. Americans have the national debt crisis as one of their top concerns along with war, inflation, and crime. Those polled think the overspending has a direct impact on their personal security and also has an impact on the security of […]
Our Drunken Sailors Push Back Against Rate-Cut Mania
/in Economy, Featured, Latest News, Personal Finance/by Wolf RichterArmed with income increases that outran inflation by a wide margin in 2023, they continue to splurge, no matter what. Total retail sales jumped by 0.6% seasonally adjusted in December from November, and by 5.6% year-over-year, to $710 billion. Not seasonally adjusted, retail sales jumped to $771 billion, according to Census Bureau data today. Despite price drops […]
Stealing Russia’s Assets to Pay for the War in Ukraine
/in Economy, Featured, Foreign Policy, Latest News, Liberty, National Debt, National Security, Personal Finance, Politics/by Neland NobelGold is the sole international banking asset that is not someone else’s liability. It is not a promise to pay from the US and it can’t be printed out of thin air. And you can hold it in your own vaults, outside of the weaponized international banking system. The world operated on a gold standard for centuries, so it is not unproven as are cryptocurrencies. It can’t get hacked or have accounts frozen. If you have it in possession, the holder controls the asset.
22 States Raised the Minimum Wage: What Does This Mean for Low-Skilled Workers?
/in Economy, Featured, Latest News, Liberty, Personal Finance, Politics/by Vance GinnOn January 1st, 22 states and 38 cities and counties raised their minimum wages, sparking some celebration for 10 million workers who get a pay hike, and many doubts for the rest. While this is perhaps a well-intentioned policy, intentions don’t indicate a policy’s effectiveness. Many economists argue that this decision will disadvantage the people it aims to help, […]
Used-Car Wholesale Prices Have Given Up 53% of their Crazy Pandemic Price Spike: Historic Plunge Continued in December
/in Economy, Featured, Latest News, Personal Finance/by Wolf RichterUsed vehicle prices at auctions fell another 0.5% in December from November, seasonally adjusted; and by 2.0%, not seasonally adjusted, according to the Manheim Used Vehicle Value Index today. Manheim is the largest auto auction house in the US and a unit of Cox Automotive. Its auction venues sell about 5 million vehicles a year. […]
$34 Trillion and Climbing
/in Economy, Featured, Latest News, National Debt, National Security, Personal Finance, Politics/by Peter C. EarleJust before the start of 2024, the US Federal debt surpassed a new milestone: $34 trillion. In 2023 the US added $2.65 trillion in debt, the second largest annual increase in history after the 2020 increase of $4.5 trillion. Going back to 1995, Federal Debt has increased by just over $1 trillion per year, but […]
A Crisis Ignored Is A Crisis Fulfilled: A U.S. National Debt Odyssey
/in Culture War, Economy, Featured, Latest News, National Debt, National Security, Personal Finance, Politics/by Neland NobelThe question of debt and deficits has been vexing the US political system since chronic deficits began to be realized after the Great Society legislation of the 1960s. But while troublesome, the issue has moved apparently to irrelevancy. The term “existential threat” gets tossed around easily today while the real existential threat is right in […]
Americans’ Finances Took A Beating In 2023 Amidst Persistent Inflation And High Interest Rates
/in Economy, Featured, Latest News, Personal Finance, Politics/by Will KesslerAmericans are struggling economically going into 2024, as harsh economic conditions in 2023 drained savings accounts, with factors like ever-rising prices and high-interest rates weighing down consumers, experts told the Daily Caller News Foundation. U.S. recession predictions are mixed going into 2024, with some credible sources like Deutsche Bank and Société Générale predicting a recession in […]
A Short ESG Guide: Economic Problems
/in Culture War, Economy, Environment, Featured, Latest News, Liberty, Personal Finance/by Paul MuellerThe Environmental, Social, and Governance movement has wrapped itself in the garb of justice. It is just as much a moral crusade as it is an economic, social, or political one, with the unfortunate effect that those who criticize ESG can easily be sidelined and dismissed as reactionary, selfish, or worse. Be that as it […]