- Two thirds of American workers are now living paycheck to paycheck.
- And job prospects are the lowest in at least 12 years.
- Kellogg’s has had a long history and the company split into two separate businesses a couple of years ago.
- Now both of those businesses will be taken over by private companies.
- Sales for both are very weak.
- Now both of those businesses will be taken over by private companies.
- Lennar is one of America’s largest home builders.
- Its home prices are now down over 20% from peak.
- And down from pre-COVID.
- Its home prices are now down over 20% from peak.
- Core inflation in Canada remains elevated.
- In Financial Ructions:
- Treasury Secretary Scott Bessent pens a particularly scathing article about the US Federal Reserve.
- And I agree with virtually all of it.
- Canada’s monetary base exploded higher during COVID and we’re still paying the consequences.
- Deficits do matter:
- As Japan is now finding out.
- Reverse repo is now drained.
- And will no longer be a source of liquidity for the market.
- Treasury Secretary Scott Bessent pens a particularly scathing article about the US Federal Reserve.
- In our book review of Taxes Have Consequences:
- We see that local and state governments were the worst tax perpetrators during the Great Depression.
- And the authors expose the myth of the Keynesian multiplier.
- And how consumers did not benefit from soaring GDP during World War II.
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