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06.23.2022

Why can’t Biden solve the supply crisis?

By Rick Manning Earlier this week I was flying from San Francisco to Orange County, California.  Near the end of the short flight, I ​looked out the window and was able to count a minimum of twenty-five cargo ships anchored off of the Port of Long Beach.  […]

06.22.2022

Poll: 67 percent disapprove of Biden’s handling of the economy, 71 percent disapprove on inflation as gasoline prices top $5

By Robert Romano 67 percent of Americans disapprove of President Joe Biden’s handling of the U.S. economy and 71 percent disapprove of his handling of inflation as gasoline prices continue hitting records at $5 a gallon, a recent Fox News poll taken mid-June found , even as Biden recently suggested a recession is not “inevitable” . A whopping 75 percent of independents […]

06.20.2022

Cartoon: Sleepy Rider

06.20.2022

Interest rate shock on the $30 trillion national debt would be felt around the world, or why the Fed really doesn’t want to raise rates

By Robert Romano Interest rates on the $30 trillion national debt are rising much faster than expected this year, according to the latest data from the U.S. Treasury. 10-year treasuries are up to about 3.2 percent in 2022 so far as bond markets continue responding to the recent bout […]

06.15.2022

Fed accelerates rate hikes, but still too little, too late to stop crushing inflation

By Robert Romano The Federal Reserve on June 15 once again hiked the Federal Funds Rate — the rate at which  the central bank lends to financial institutions — up another 0.75 percent to 1.5 percent to 1.75 percent, following 0.25 percent and 0.5 percent rate hikes at its March and May meetings. That came after the […]

06.14.2022

Cartoon: Captain Oblivious

06.13.2022

Recession predictor 10-year, 2-year treasuries spread inverts once again amid crushing inflation

By Robert Romano The spread between 10-year and 2-year treasuries , a reliable indicator of incoming recessions that has predicted almost every recession in modern economic history, inverted once again overnight on June 13 amid financial markets turmoil with interest rates rising rapidly, the dollar strengthening and equities markets crashing. That is almost certainly terrible news for President Joe Biden and Congressional Democrats ahead […]

06.09.2022

Poll: 55 percent say America is already in a recession, including 41 percent of Democrats, 75 percent of Republicans and 56 percent of Independents

By Robert Romano 55 percent of Americans say that the U.S. economy is already in a recession, according to the latest polling from Economist/YouGov taken June 4 through June 7 , including 41 percent of Democrats, 75 percent of Republicans and 56 percent of independents. Politically, that is usually bad news for the incumbent party occupying the White House, in […]

06.09.2022

U.S. spring wheat planting lags after winter wheat harvest down 8 percent in 2022 as world waits for Ukraine

By Robert Romano Last month, the U.S. Department of Agriculture (USDA) reported that U.S. winter wheat production will be down 8 percent in 2022, from 1.28 billion bushels in 2021 to 1.17 billion bushels expected this year amid drought in Kansas and other areas plus lower yields. Adding to the misery, planting for spring wheat […]

06.06.2022

16-64-year-old labor participation is still lower than before Covid, but not by much. Is this peak employment?

By Robert Romano 16-64-year-olds have almost fully returned to U.S. labor markets after the Covid pandemic, the latest data from the Bureau of Labor Statistics shows . In Feb. 2020, right before the Covid pandemic would shut down the global economy for several months, labor participation among 16-to-64-year-olds was 74.4 percent. By April 2020, when more than […]

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