Toronto swings like a pendulum do. Or what goes up must come down. Toronto home prices fell 4.6% in July, the biggest decrease in 17 years.
Thomas Hoenig, the former KC Fed Chairman and current vice chairman of the Federal Deposit Insurance Corporation (FDIC) stated recently that banks are choosing to distribute their earnings to investors rather than lend.
According to The Federal Reserve’s Assets and Liabilities of Commercial Banks in the United States – H.8, released last Friday, commercial and industrial (C&I) lending and real estate (RE) lending at commercial banks continues to decline YoY. C&I lending is … Continue reading →
Venezuela’s financial crisis keeps getting worse and worse.
On top of today’s news that inflation (as measured by Core PCE Price Growth) is flat at 1.5% YoY
Core Personal Consumption Expenditure (PCE) price deflator declined to 1.4% YoY, continuing an annoying downward trend.
June’s report on Core Personal Consumption Expenditure (PCE) Price growth shows no increase (from the upgraded numbers from May).
Debt Star!! US Federal Spending is rising at a staggering $428,253,120 per day while US Federal TAX Revenue is only rising at $129,857,760 per day.
Venezuela is a mess. The Guardian has this article on the sham elections in Venezuela where President Nicolas Maduro claims a victory for his policies, such as 844%.inflation and chronic shortages in this command economy.
Just how bad is inflation in Venezuela? A computer game with infinitely spawning enemies has a better exchange rate than the Venezuelan Bolivar.