President Joe Biden unveiled his first federal budget proposal as president for fiscal year 2022, which begins on October 1. His first budget is a whopper at just over $6 trillion. This is in addition to the $4 trillion he wants to spend on his pork-laden infrastructure rebuilding plan. He also announced his plan to…
The latest surveys show most Americans who are eligible to receive the new $1,400 stimulus checks included in President Biden’s latest $1.9 stimulus plan are in favor of the upcoming government payments. I guess that shouldn’t be a big surprise. What you may not know is with the passage of this nearly $2 trillion stimulus…
Global debt has surged by $24 trillion in the last year, driven largely by the response to the COVID-19 pandemic, the Institute of International Finance (IIF) announced in March. With global debt now totaling a record $281 trillion, the ratio of debt to global GDP has risen 35 points to 355%, according to the group’s calculations. The latest increase in the…
One of the leading global economic forecasting groups predicted inflation will rise, potentially significantly, later this year, and the stock market will react very negatively. Global Macro Monitor (GMM), one of the world’s most respected (and most expensive – over $2,000 per year) forecasters made this prediction on January 11. GMM looked at inflation in over 50…
The U.S. Bureau of Labor Statistics (BLS) reports the Consumer Price Index (CPI) and the Producer Price Index (PPI – wholesale prices) every month. The CPI rose 0.2% in November, according to the BLS, and was up only 1.2% for the 12 months ended November.