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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When Big Business comes together to collude with Big Government, it usually means everyday people are about to get ripped off.
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The Ford Motor Company has reportedly shifted a $900 million investment for an Avon Lake, Ohio assembly plant towards a site in Mexico, according to the United Auto Workers (UAW) union.
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How can a small rise in bond yields scare policymakers so much? Ned Davis Research estimates that a 2% yield in the US 10-year bond could lead the Nasdaq to fall 20%, and with it the entire stock market globally. A 2% yield can cause such disruption? How did we get to such a situation?
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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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