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Homeownership Hopelessness: Renters Doubt FuturePossibilities

The rise in home prices coincides with a severe drop in new housing construction after the Great Recession, the report said. Photograph: David Paul Morris/Bloomberg via Getty Images The American dream of owning your own home is dead, according to the majority of renters surveyed in a new poll shared exclusively with the Guardian, and [...] READ MORE

Potential Layoffs Ahead as Companies Brace for Interest RateHikes

mathisworks/Getty Images The economy could be primed for a surge in layoffs by the end of 2024, economic experts say. That's because aggressive Fed rate hikes haven't been fully felt across the economy. Unemployment could rise to around 5% by year-end, according to economist David Rosenberg.   A wave of layoffs could be coming as [...] READ MORE

Tax Season and Rising Debt Costs Push U.S. February DeficitWider

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. March 12 (Reuters) - The U.S. federal budget deficit grew in February with outlays surging as annual tax-filing season kicked into gear and interest costs on the national debt kept rising, the U.S. [...] READ MORE

Ukrainian Drones Strike Deep, Hitting Major Russian OilRefinery

Summary Ukraine launches mass drone attack Fire at NORSI refinery, drone downed near Kirishi NORSI is badly damaged - sources Russia says it repels cross-border attack by Ukrainian proxies   MOSCOW, March 12 (Reuters) - Ukraine pounded targets in Russia on Tuesday with dozens of drones and rockets in an attack that inflicted serious damage [...] READ MORE

South Korea’s Reserve Bank Holds Back AmidGlobal Rush

Gold bars (Courtesy of Getty Images) South Korea has remained muted to a new gold rush fueled by various central banks across the world gobbling up the precious metal, raising concerns that Asia’s fourth-largest economy is one of a handful of nations missing out on the great profit-making opportunity.   According to the World Gold [...] READ MORE

Economists Question the Recession-Predicting Power of theInverted Yield Curve

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 28, 2024. BENGALURU, March 12 (Reuters) - A key indicator of an oncoming recession implied by the U.S. bond market is no longer reliable, according to nearly two-thirds of strategists polled by Reuters.   A persistent [...] READ MORE

BRICS Expansion and De-Dollarization Efforts Challenge USand EU Economic Dominance

Source: iStock The BRICS bloc is ready to continue its expansion in 2024. Successfully inducting multiple new nations in January, the bloc is expected to invite more countries to join sometime this year. With more countries showing interest in BRICS and its missions, the United States and the European Union are facing a new developing [...] READ MORE

The Latest Inflation Breakdown

Americans plagued by surging prices over the past 20 months continue to face strain as the cost of meeting everyday necessities remains stubbornly high.   The Labor Department said Tuesday that the Consumer Price Index (CPI), a broad measure of the price of everyday goods, including groceries, gasoline, and rent, rose 0.4% in February from [...] READ MORE

Gold’s Rally Leaves Some Market ExpertsBaffled

The gold price hit nearly $2,195 per troy ounce on Friday © Bloomberg The price of gold has surged 7 per cent in just over a week to hit record highs, leaving longtime market watchers struggling to explain what has been one of the yellow metal’s most curious rallies.   The sudden price move has [...] READ MORE