Worrywarts have been blabbing about a recession since the spring, when U.S. GDP growth turned slightly negative and Russia’s invasion of Ukraine sent oil prices soaring. Now it looks like the naysayers might get their way. Economic forecasters are cutting their outlook for U.S. and global economic growth, with more of them predicting a recession. S&P Global Market Intelligence recently cut its forecast for the U.S. economy in 2023 from 0.9% GDP growth to a 0.5% decline. “The base… Source link
Read More »Billionaire Carl Icahn warns ‘you can’t cure’ hot inflation — but when an audience member asked him for stock picks, he gave these 2 ‘cheap and viable’ names
Billionaire Carl Icahn warns ‘you can’t cure’ hot inflation — but when an audience member asked him for stock picks, he gave these 2 ‘cheap and viable’ names Easy monetary policy might seem fun at the beginning, but it has consequences. While asset prices shot up in 2020 and 2021, they pulled back substantially in 2022. Meanwhile, inflation remains near 40-year highs and the Fed has to raise interest rates aggressively to bring price levels under control. “We printed up too much money, and… Source link
Read More »How to make sense of things while awaiting the cure for high prices
This post was originally published on Tker.co. They often say that the cure for high prices is high prices. The idea is that when the price for something goes up by too much, fewer people will be willing or able to pay for it. And so demand comes down, and in turn the price comes down. But while inflation has indeed been running hot, the problem — ironically — is that consumers and businesses are in unusually strong financial positions. And while this may prevent any economic slowdown from… Source link
Read More »Liberty beats Coastal Carolina in Cure Bowl
Liberty ruined No. 12 Coastal Carolina’s undefeated season on Saturday night. The Flames blocked a game-tying field goal attempt from Coastal Carolina’s Massimo Biscardi in overtime to beat the Chanticleers 37-34 in the Cure Bowl. Liberty finishes the season at 10-1 while Coastal Carolina finishes the year at 11-1 after missing out on the College Football Playoff and a berth in a New Year’s Six bowl. Liberty fumbled while trying not to score Liberty should have won in regulation. The Flames… Source link
Read More »Twitter removes tweet highlighted by Trump falsely claiming COVID-19 ‘cure’
WASHINGTON — Twitter removed a tweet that had been retweeted by President Donald Trump that falsely said that there was a cure for the coronavirus. Late Monday, Trump retweeted the tweet from an account with the handle “@stella_immanuel” that said: “Covid has cure. America wake up.” Twitter soon after removed the tweet and replaced it with a gray box that says, “This Tweet is no longer available.” A cure for COVID-19, the disease caused by the coronavirus, doesn’t exist, and scientists have… Source link
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