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California Has 9th Highest Cost-Of-Living Adjusted Minimum Wage In U.S.

California Has 9th Highest Cost-Of-Living Adjusted Minimum Wage In U.S.

Mike LaFirenza The pandemic-era economy has many unusual and uncertain features that have made it difficult to analyze. And one of the major open questions is what this economic period will do to wages and prices long-term. On one hand, wages are increasing at a faster rate than they have since the depths of the […]

Default Of Second Chinese Developer Sparks China Junk Bond Meltdown As Contagion Explodes

Default Of Second Chinese Developer Sparks China Junk Bond Meltdown As Contagion Explodes

BY Tyler Durden | ZeroHedge As we expected, Evergrande is only the first cockroach. With the world waiting to find out the fate of a $260 million bond issued by Jumbo Fortune Enterprises which is guaranteed by Evergrande, and which has no grace period so an event of default could take place as soon as this week (the […]

Evergrande Suspends Trading In All Bonds

Evergrande Suspends Trading In All Bonds

BY Tyler Durden | ZeroHedge Earlier today we pointed out that in what can (obviously) only be a remarkable coincidence, China’s largest, and most systematically important real estate developer, China Evergrande (and its $300+ billion in debt), collapsed on the 13th anniversary of Lehman’s bankruptcy filing, when Beijing told Evergrande’s creditor banks that the insolvent company, which […]

Signs of Inflation so Far

Signs of Inflation so Far

Gerald P. Dwyer The Federal Reserve has announced that it intends to raise inflation in the United States to two percent per year on average. Inflation generally has been less than two percent in recent years. Is the Federal Reserve likely to be successful at hitting this new target or even exceeding it? Recent dramatic […]

Is the Run on the Dollar Due to Panic or Greed?

Is the Run on the Dollar Due to Panic or Greed?

    by Ellen Brown What’s going on in the repo market? Rates on repurchase agreements (“repo”) should be around 2%, in line with the fed funds rate. But they shot up to over 5% on September 16 and got as high as 10% on September 17. Yet banks were refusing to lend to each other, evidently […]

The coming catastrophic collapse of the middle class

The coming catastrophic collapse of the middle class

By Jack Mullen | 17May2016 | The Government Rag “Is there no danger to our liberty and independence in a Bank that in its nature has so little to bind it to our country. The president of the Bank has told us that most of the State banks exist by its forbearance. Should its influence […]

Yellen Takes Off Training Wheels

Yellen Takes Off Training Wheels

By Chip Bok Bokbluster.com   Janet Yellen took the training wheels off the economy on Wednesday. After seven years of near zero percent interest rates, the Fed hiked rates a quarter percent. Meanwhile, Congress passed a 2,000 page,  1.2 trillion dollar budget. That tacked another 157 billion onto the 18.5 trillion dollar national debt. Yellen On Friday the Dow […]

IMF to make Chinese yuan reserve currency in historic move

IMF to make Chinese yuan reserve currency in historic move

Cartoonist Chip Bok: Fed Up

Cartoonist Chip Bok: Fed Up