A record number of home sellers dropped their asking price in July, as the U.S. housing market began to tank rapidly, according to new data from Redfin. July saw the biggest annual decline in U.S. home sales in more than a year. Many buyers have fled the housing market amid high mortgage rates and rising…
Record Numbers of US Homeowners Slashed Sales Prices in July, Says Redfin
August 27, 2022
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Fed’s Powell Sees Inflation Fight Lasting ‘Some Time,’ Warns of Economic Pain
August 26, 2022
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Business & Marketseconomic policieseconomyFederal Reserveinflationinterest ratesInvestmentjerome powellMarketsPolicies & ImpactsrecessionUS
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The Federal Reserve will its tools “forcefully” to attack the 40-year high level of inflation by continuing to tighten monetary policy “for some time,” Federal Reserve Chairman Jerome Powell said at a central banking conference, on Aug. 26, at which he struck a hawkish tone that sent stocks tumbling. Powell, in his long-awaited remarks at the annual event…
Biden’s Pyrrhic Legislative Victories
August 26, 2022
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Build Back BetterBusiness & MarketsBusiness ColumnistsChips for AmericainflationInflation Reduction ActInvestmentOpinionPolicies & ImpactsrecessionUSUS NewsUS productivityViewpoints
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Commentary In August, the Biden administration and Congress celebrated their third legislative victory in less than a year. As with Russia’s invasion of Ukraine, they are celebrating Pyrrhic victories. As Russia’s invasion will seriously undermine Russia’s living standards, President Joe Biden’s massive government expansion will stifle U.S. growth for years to come. It often takes…
How Interest Rates Affect Monthly Payments—The Math
August 26, 2022
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Commentary The party’s over for many would-be homeowners. The “party” I’m referring to is the historically low interest rates that made borrowing money the most affordable it had ever been. As of August 2022, the average interest rate on a 30-year fixed Freddie Mac mortgage is 4.99 percent, which is up from about 2.68 percent…
11 Tips to Invest in Gold for Retirement
If you’re looking for a smart way to invest for retirement, consider adding gold to your portfolio. Gold has long been considered a safe investment with a solid track record, but it also provides an opportunity to diversify your portfolio at no additional cost. In this post, we’ll walk through the steps of investing in…
Next UK Prime Minister Urged to Slash Fuel Duty Amid Soaring Inflation
The inboxes of the UK’s two Conservative Party leadership candidates have been flooded with e-petitions urging them to slash fuel duty immediately by 25 pence per litre, according to FairFuelUK. The advocacy group for drivers said since it started the campaign on Sunday, more than 20,000 emails have been sent to Liz Truss and Rishi Sunak, who are vying…
Texas Targets 10 Financial Companies, 340+ Funds Over ESG-Driven Fossil Fuel Divestment
August 25, 2022
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Business & Marketscancel cultureCompanieseconomic policieseconomyenergyEnvironmentESGFeatured TopicsFederal-State Relationsfossil fuelsInvestmentLocal NewsMarketsPolicies & ImpactsPoliticsRegional-Local NewsRepublicansSciencestocksTexasUSUS NewsWest Virginia
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Texas State Comptroller Glenn Hegar on Aug. 24 released a list of ten financial companies and almost 350 funds said to be boycotting energy firms involved in fossil fuels, marking another advance in the war between individual U.S. states and the environmental, social, and governance (ESG) movement. The state comptroller must publish such a list…
Canceling Student Debt Is Wrong on Every Level
August 24, 2022
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One of the first things a toddler learns to say is “That’s not fair!” It turns out that the idea of fairness, a concept related to justice, is intuitive from an early age. Even 3-year-olds understand that merit is fundamental to fairness. Merit is the idea that “rewards should be distributed according to how much…
Resistance Mounts Against ESG
News Analysis Actions taken to counter the ESG movement are broadening as the biggest money managers in the world are being taken to task for pushing their political and ideological stances on companies. Some observers of the progressive investment phenomenon see it as a threat to democracy and national security and a violation of capitalism….
The Financial Times on the Road to Damascus
Originally published by American Greatness. Commentary The greatest strategic mistake made by the United States was to fund the rise of its enemy. For decades, the U.S. government encouraged investment in China to the extent that much of America’s critical manufacturing capability moved to China, and Chinese firms learned American manufacturing techniques and secrets. Encouraged…
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