Category Archives: Business & Economy

Lumber Industry Has No Interest In New Mills As They Reap Rewards Of Record Prices

Lumber Industry Has No Interest In New Mills As They Reap Rewards Of Record Prices

Lumber executives told WSJ they “aren’t racing out to build new mills” as they are content with elevated prices boosting their quarterly net incomes. Usually, when commodity prices soar, new supplies flood the market, but that doesn’t seem to be the case here. This is because the North American lumber industry supply is controlled by just a few firms.

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Budget Deficit Surges to Record $1.7 Trillion in Just Six Months

Budget Deficit Surges to Record .7 Trillion in Just Six Months

The US government ran a budget deficit of $659.59 billion in March, pushing the budget shortfall to a record $1.7 trillion through the first half of fiscal 2021, according to the Treasury Department’s Monthly Treasury Statement. The March budget deficit ranks as the third biggest monthly shortfall in US history, driving Uncle Sam the biggest half-year deficit ever.

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Cash-Out Home Refinancings Hit Highest Level Since Global Financial Crisis

Cash-Out Home Refinancings Hit Highest Level Since Global Financial Crisis

In addition to boosting both bonds and stocks, the rigging of interest rates by hapless central bank has homeowners drawing on cash out refinancing’s at the quickest clip since the global financial crisis. $152.7 billion was cashed out in home equity last year, up 42% from 2019 and the most since 2007, according to the Wall Street Journal.

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