(Tyler Durden) After an unexpected jump in new home sales and larger than expected drop in existing home sales, today’s pending home sales print is the tie-breaker for sentiment in the housing market in May as homebuilder sentiment soured and mortgage rates and applications soared. As it turns out pending home sales unexpectedly rose 0.7% MoM in May (versus a 4.0% MoM expected drop) and with a downward revision to April from -3.9% MoM to -4.0% MoM…
Economy
What Drives Gasoline Prices?
(Zero Hedge) Across the United States, the cost of gas has been a hot topic of conversation lately, as prices reach record-breaking highs.
Google Now On Board with Digital Wallet to House Digital ID, Vaccine Certificates, Driver’s Licenses and more
(Activist Post) Google is rolling out a digital wallet that will enable users to store, use and present digital identity documents and driving licences as well as payment cards, transit and event tickets, boarding and loyalty passes, health documents such as Covid-19 vaccination certificates, hotel keys and office badges on their Android smartphone or Wear OS smartwatch.
Inflation Goes from Bad to Worse … to Even Worse Than Reported
(Stefan Gleason) Friday’s Consumer Price Index Report sent shockwaves through financial markets. The 8.6% annual reading was yet another new multi-decade high – dealing a body blow to analysts who believed inflation pressures had peaked.
The Benefits Of Economic Collapse
(Jeff Thomas) I first began to predict a major economic collapse back in 1999. Although I understood that it was at least fifteen years off and possibly more, I believed that it would be wise to begin to prepare for it then, as the actual date of collapse could not be predicted. (Better to be a few years early than even one day too late.)
Build Back Broke: Biden’s Multi-Trillion Dollar Federal “Stimulus” Package Cost Taxpayers $855,000 Per Job Saved, Made “Near-ZERO Impact on National Income and Economic Growth”
(Julian Conradson) Billed as the savior to the failing economy following the Covid-19 lockdowns, Biden’s “groundbreaking” multi-trillion-dollar economic stimulus package, The American Rescue Plan, was meant to “jumpstart” the economy, create and save jobs, combat inflation, and be the opening salvo to a successful four-year plan for the fraudulent Biden Regime – a tall order by any stretch of the imagination.
Surging Gas Prices Slow Down Law Enforcement Responses To Emergencies
(Michael Robison) With gas prices continuing to soar across the nation, many police and fire departments, and even ambulance services, are choosing to alter how they handle emergency responses.
Run on the Banks in China – Long Lines in Henan, Shanghai, and Dandong
(Joe Hoft) People are reportedly lining up for hours in China to obtain money from their bank accounts in China. The large cities of Henan, Shanghai, and Dandong are three cities where the lines are long.
Credit Unions and Banking Groups Warn of “Devastating Consequences” of a U.S. Central Bank Digital Currency
(Pam Martens and Russ Martens) Credit union and banking trade groups have released a joint letter to the chair and ranking member of the House Financial Services Committee, warning of “devastating consequences” if the Federal Reserve moves forward with a Central Bank Digital Currency (CBDC). The letter was sent on May 25, one day before the Committee convened a hearing on “Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency.” That hearing took testimony from only one witness, Lael Brainard, the Vice Chair of the Federal Reserve.
Video: Biden Energy Secretary Tells Americans To Stop Complaining Because BRAZILIANS Have To Pay Same Amount For Gas
(Steve Watson) Shut up and buy an electric car, says former electric car company director and electric car stock millionaire
Despite Ongoing Energy Crisis and Record Fuel Prices Nearly Every Day, Leftist Activists Sue Biden Administration to Block 3,500 Oil and Gas Permits
(Michael Robison) A group of environmentalist activists is suing the Biden administration to vacate over 3,500 oil and gas drilling permits already approved in two states, despite rising fuel costs and a national energy crisis.
Universal Basic Income? IMF Calls For Governments To Subsidize Food And Energy
(Activist Post) Inflationary and stagflationary crisis events open up a lot of doors and create a lot of convenient opportunities for globalists obsessed with the ideology of total centralization. A key aspect of the “Shared Economy” agenda put forward by the WEF is the concept of UBI (Universal Basic Income). If the government becomes the primary pillar of the economy and the primary source of necessities for a large portion of the population, then this makes public defiance of government mandates much less likely.
BIDEN ECONOMY: Retail and Auto Sales Are Down, Layoffs Announced, A Recession is in the Works
(Joe Hoft) The economic numbers for the Biden economy are coming and they are terrible.
Gasoline Black Market Thriving Under Biden: Thieves Taking Fuel from Heartland and Moving It to California
(C. Douglas Golden) Forget drugs or weapons. The newest item to hit the black market? Gasoline.
May Producer Price Index Soars to 10.8% as Energy Costs Reach Daily Record Highs
(Jim Hoft) US Producer Price Index rose 0.8% in May from a month earlier. In April the PPI climbed 0.4%. The number indicates the price cruch consumers are facing under the Joe Biden economy.