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Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says

[Apr 9, 2023 11:30 PM] Within the next decade, the U.S. dollar will play a much less dominant role than it is today, according to Jeffrey Sachs. The renowned economist listed a few factors for the diminishing status of the greenback such as its use as a political weapon…

US Economy at Risk of Crash Landing, Allianz Warns

[Apr 9, 2023 7:30 PM] Allianz, one of the world’s largest insurers, has warned that the U.S. economy is headed toward a crash landing. “We expect the economic momentum to deteriorate during the second half of the year on the back of rapidly tightening credit conditions…

‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks

[Apr 2, 2023 9:30 PM] Economist Nouriel Roubini has shared his opinion about bank problems in the United States in a recently published opinion editorial. In the article, Roubini insists that “most U.S. banks are technically near insolvency, and hundreds are…

‘Big Short’ Investor Michael Burry Says He Was Wrong to Advise Selling; Congratulates ‘BTFD Generation’

[Apr 2, 2023 12:30 PM] Famed “Big Short” investor Michael Burry tweeted Thursday, telling his 1.4 million followers, “I was wrong to say sell.” The tweet follows Burry’s warning for months that the U.S. was headed for an “extended…

Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply

[Mar 16, 2023 12:00 PM] The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources…

US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision

[Mar 14, 2023 11:30 AM] The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased…

NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout

[Mar 12, 2023 6:05 PM] On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the…

Steve Forbes Says the Fed Is ‘Inflicting Unnecessary Pain’ With Interest Rate Hikes

[Mar 9, 2023 9:30 PM] Media mogul Steve Forbes, chairman of Forbes Media, has warned that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy with its interest rate hikes after Fed Chair Jerome Powell said the Fed is prepared to raise…

BRICS Nations ‘Coalescing Against the Dollar,’ Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency

[Feb 26, 2023 7:00 AM] In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity…

Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst for Gold’s Rise Above $2,000

[Feb 24, 2023 4:00 PM] This week, Bloomberg Intelligence senior macro strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an…

US Markets Tumble as Real Estate Weakens, Putin Suspends Nuclear Treaty, Morgan Stanley Warns of Stock Market ‘Death Zone’

[Feb 21, 2023 6:00 PM] On Tuesday, all four major U.S. benchmark stock indexes fell as real estate data showed home sales dropped by 0.7% last month and Russian President Vladimir Putin suspended the nuclear arms control treaty with the United States. Additionally, the…

Study: 55% of Americans Believe They Will Lose It All if a Recession Hits the United States

[Feb 16, 2023 1:00 AM] According to a recent study by Clever, a real estate data company, nearly three out of four Americans worry there will be a recession this year, and 69% of the research participants say the U.S. is already in a recession. What’s worse, 55% of…

Crypto, Equity, Metal Markets Plunge as Tech Earnings Disappoint and US Economic Weakness Deepens

[Jan 25, 2023 12:30 PM] Equity markets began the day in the red following the latest corporate earnings reports from some of the world’s largest firms, including Microsoft. The tech giant’s recent conference call was considered disappointing, and earnings…

All Eyes on the Next Fed Meeting: Market Trajectories Hinge on Decision

[Jan 21, 2023 4:30 PM] Equities, precious metals, and cryptocurrencies have been on a tear during the last three weeks of 2023, and all eyes are now focused on the next Federal Open Market Committee (FOMC) meeting, which is 11 days away. On Friday, Federal Reserve…

IMF Warns of Tough Year Ahead for World Economy Citing Slowdown in US, EU, China

[Jan 1, 2022 10:00 PM] The International Monetary Fund (IMF) has warned that 2023 will be a tougher year for most of the world economy because the U.S., EU, and Chinese economies are all slowing down simultaneously. “We expect one-third of the world economy to be…