By Rick Manning Americans received a nasty surprise when they learned today that much of the oil released from the nation’s Strategic Petroleum Reserve has been exported rather than refined domestically in the U.S. to lower the cost of gasoline at the pump. President Joe Biden’s […]

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.  […]

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 […]

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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 […]

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 […]

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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 […]

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 […]

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 […]