Last week, the Biden administration stepped up its crackdown on Chinese technology in what is becoming the global conflict of the century. An executive order signed this past Wednesday roadblocks and regulates United States investments in Chinese technology, ranging from advanced computer chips and microelectronics to quantum IT and AI. We’re knocking on the door…
The gap between Wall Street and Main Street is getting bigger. And it wasn’t long ago during the Covid-19 Pandemic that we reached all-time high household savings. But just three short years later, households are upside down in debt. United States cardholders are $1 TRILLION DOLLARS in credit card debt today! As many of you…
Storm clouds gathered over the oil markets but didn’t seem to last too long. Weaker than expected Chinese macroeconomic data disappointed again, but not likely putting an end to six consecutive weeks of energy prices gains. The bullish effect of Saudi Arabia’s production cut extension and Russia’s export curbs in September has evaporated. Although disruptions…
September West Texas Intermediate crude oil prices posted 5 consecutive weekly gains as we concluded last week’s trading. Gains were credited to tighter supply control by Saudi Arabia and Russia. This recent display of uptrend followthrough comes despite fears over slowing economic growth and reduced energy demands due to potential central bank interest rate hikes.…
Credit rating agency Fitch downgraded the United States from an AAA to AA+ rating. The U.S. is no longer officially a risk-free borrower. Truth be told, our country earned that credit rating a while ago. There was a time in our nation’s history when large budget deficits would have been considered extreme and irresponsible. I’m…
Fitch Ratings downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA. Pointing to “expected fiscal deterioration over the next three years,” an erosion of governance and a growing general debt burden. The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management. Back in May, the agency…
Back in March of 2022, President Joe Bozo issued an executive order directing the Office of Science and Technology Policy to prepare a report on the risks and benefits of creating a digital dollar for the United States of America The digital dollar is referred to as a CBDC for short, meaning a central bank…
Today’s big question: Is inflation really under control? It’s tough to say with crude oil prices on the rise. WTI is up more than 15% in July. Many analysts have Brent price targets in the mid 90s before year end. Gasoline prices have been experiencing a surge lately as well, with futures soaring to a…