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Americans could suffer from Big Tech firms laying off workers and freezing hiring as the economy remains volatile, the founder of a Bay Area job search community told Fox News. "The average American will probably be impacted, at least in some form, by what may happen in this next economic downturn in the tech industry," Albert's List founder Albert Qian said. "We touch these things every single day, whether it's Google Search, a store on Amazon, an Apple device." "When the Microsofts, the Googles, the Amazons, the Twitters, when those companies start laying off people, that's when we need to...

The purchasing power of the US Dollar has been virtually erased since the creation of The Federal Reserve in 1913 when $1,000 in 1913 is now worth $36.36. And M2 Money Velocity (GDP/M2 Money) has crashed and burned to the lowest level in history. Inflation? Home price growth YoY is the highest in history. And CPI growth YoY is the highest since the Financial Crisis and July 2008. The Fed is predicted to ease its foot off the printing press in the latter half of 2022. Share this:

As of Friday, over 2.3 million people had signed a Change.org petition urging lawmakers to pass legislation for recurring $2,000 monthly payments. Initially, 21 senators, all Democrats, signed a letter to President Biden in late March supporting recurring stimulus payments

The value of the Chinese yuan fell to a fresh 11-year low against the US dollar on Friday, fuelling worries that China has given up on achieving any progress to end the trade war with the United States in the near term and so is moving to offset the effect of new tariffs with a weaker exchange rate. The weaker yuan, in turn, dragged down regional currencies, aided by central bank interest rate cuts, that would lead to an acceleration of capital outflows from Asia this year. Recent signs appear to indicate that China was preparing its economy for a...

What China did this week is the strongest counteraction it has taken so far in its ongoing trade war. It might have achieved the desired effect of causing market panic, but it will end up hurting China the most. By Helen Raleigh President Donald Trump announced last week that the United States will impose 10 percent tariffs on $300 billion of Chinese imports beginning Sept. 1. At the beginning of this week, China retaliated by ordering state enterprises not to purchase U.S. agricultural goods and letting the Chinese yuan fall below the psychologically important rate of 7 yuan against $1.The...

As expected, China's central bank came in today to stop the bloodletting in the markets following Monday's shocking after-market announcement by the Treasury Department that the Bank was manipulating the dollar-yuan exchange rate. Animal spirits went into near-giddyness in the market after hours Monday, thinking Treasury would deliver a blow to China assets this morning. China ended up doing better than expected, thanks in part to the actions of the central bank, led by Yi Gang. The People's Bank of China announced on Tuesday that it would provide some stability in the coming weeks to the yuan. They'll take about...

Back in May, I wrote that Trump’s China tariffs will only “work” if Americans pay them. The president wants to shrink our trade deficit with China; tariffs further that end by making it more expensive for Americans and American firms to buy Chinese goods; if China takes steps that absorb the cost of the tariffs, then Americans will be spared part or all of the tariff burden, but they’ll also have less incentive to buy American. Sure enough, after President Trump announced that another round of China tariffs would start September 1, the Chinese responded by allowing China’s currency to...

Rachael LevyJuly 1, 2016 "We are facing the largest macro imbalance in global history." That's according to Kyle Bass, founder of hedge fund Hayman Capital Management. Investors better prepare for a Chinese crisis that will mimic what happened in the US mortgage crisis, Bass said in a Friday interview with Real Vision Television. "When I look at what's happening now in China, the amplitude of what's happening is two, three, or four times what happened in the US," he said. Here are Bass' main points: •The Chinese are going to have to accept a devaluation of the yuan. • When...

Joyce Banda, Malawi's new president, has announced the presidential jet and fleet of 60 Mercedes limousines would be sold in a move applauded by a British cabinet minister as an example to other African leaders. Mrs Banda said she was happy to "offload" the presidential perks, adding: "I can well use private airlines. I am already used to hitchhiking." It means that the 62-year-old head of state – the second woman to hold the position in Africa – will fly to the Queen's Jubilee celebrations in London this weekend with British Airways. Andrew Mitchell, the UK International Development Secretary who...

The dollar fell sharply for a second straight day to five-month lows Thursday on the Federal Reserve’s less-ambitious rate-hike plans. That in turn boded well for corporate earnings, lifting the S&P 500 to its highest level of the year. The Fed signaled Wednesday that it wants to make sure the economy builds up some momentum before it resumes normalizing interest rates. That was a much more inviting message than in December... ...a strong dollar, weak earnings, tepid growth and a plunge in commodity prices that raised fears of emerging market defaults. The central bank indicated that it now sees only...

On Monday, we brought you "Saudi Default, Devaluation Odds Spike As Mid-East Careens Into Chaos," in which we outlined the jump in riyal forwards and widening of CDS spreads that Riyadh witnessed in the aftermath of the kingdom's move to cut diplomatic ties with Iran.In short: the market is getting worried that Riyadh is about to careen into crisis. In the face of slumping crude, the Saudis are staring down double digit budget deficits and the prospect of having to once again tap debt markets in order to offset the SAMA burn and keep the kingdom from having to...

China Marks the Yuan Lower a Third Time USD/CNY closed Wednesday at 6.3870 and its fixing was at 6.3306 By Ewen Chew Updated Aug. 12, 2015 9:26 p.m. ET 0122 GMT [Dow Jones] China’s central bank has adjusted the daily yuan benchmark weaker for a third day, moving the USD/CNY fixing to 6.4010 from 6.3306 on Wednesday. The move sent proxy currency pairs USD/KRW and USD/SGD higher, but not by much yet. Traders are awaiting the USD/CNY spot market opening in a few minutes to cement conviction that Asian currencies are going to fall again.

You were considered a hoarder and a slacker if you still resisted turning over your gold to the government. ... most of those who voted for FDR never expected him to confiscate private holdings of gold coins, bullion, and certificates. Roosevelt called the measure a temporary one (it wasn’t), and he followed it up by invalidating gold clauses in private contracts that obligated payment in gold dollars, which had the effect of devaluing the assets of bond and contract holders. ... By January 1934, Roosevelt increased the dollar price of gold from $20.67 to $35, thus devaluing the dollar by...

It’s easy to get lost in the incremental gyrations of oil prices. “Oil rises on colder weather,” screams a headline one day, only to be followed the next by “Crude edges down on inventory report.” When not being driven by “fears over the Middle East,” crude is being hammered by “weak Chinese data.” You’d almost think energy analysts have a roulette wheel of explanations they spin each time prices move a notch: “Well, what will it be today? Oh ho! Emerging market turmoil it is.” Which is why it’s so refreshing—and to be frank, scary—to talk with Bob Hoye, the...

The markets were surprised when the Federal Reserve did not announce a tapering of the quantitative easing bond buying program at its September meeting. Indeed, its signal to the market that it was keeping interest rates low was welcome, but there may be a hidden agenda. Since it began in late 2008, QE has spurred a vigorous debate about its merits, both positive and negative. On the positive side, the easy money and low interest rates resulting from quantitative easing have been a shot in the arm to the economy, fueling the stock market and helping the housing recovery. On...

If there is a global currency devaluation war, the U.S. is losing.

Gold And Silver - The End Is Near; Just Not In Sight Commodities / Gold and Silver 2013 June 22, 2013 - 04:00 PM GMT By: Michael Noonan Whatever expectation[s] you may have, expect the unexpected and unlike what you may expect. So far, that has been playing out quite nicely, and one of our expectations is that it will continue to unfold in the same manner, and to the ongoing surprise of most. "Gold will be at/above $2,000 by the end of the year." "Gold will reach $3,000 [$5,000, $10,000, etc] and silver $100, [$250, $500, etc]" "The central...

Mark Carney will try to devalue the pound by as much as 15 percent after he takes over as Bank of England Governor in July in a last ditch attempt to cement the UK recovery, PIMCO, the world’s largest bond house, has warned. Growth in Britain is going to remain “challenged” for the next three to five years as the Government continues to shrink the public sector and cut the budget deficit. As banks and households also grapple with their excessive debts, “that leaves one policy tool outstanding, which is basically the currency”, PIMCO managing director and sterling bond head...

Last Week, the EU and Cypress imagined another way to fund government bailouts and spending – wealth confiscation. Under the still changing plan, bank savings would be confiscated at a rate of 3 to 15%. The reaction, which only a EU bureaucrat could not foresee, has been a run on the banks; only an idiot would keep his money in a bank when confiscation was on the table. The EU showed its communist side with the plan; to the EU, there is no distinction between private and public wealth, and personal savings are not particularly sacred. Indeed, many European nations...

There is a Green Lettuce revolt in Venezuela. Green lettuce is a slang term for the US Dollar and is discouraged by the Venezuela government. Feb. 13 (Bloomberg) — Venezuela’s bolivar plunged to a record low in unregulated trading after last week’s devaluation of the official rate failed to increase the supply of dollars. The currency weakened 10 percent to 22.36 bolivars per dollar today, according to Lechugaverde.com, a website that tracks the country’s currency in the black market. The bolivar has declined 18 percent in unregulated trading since President Hugo Chavez, who is recovering from cancer surgery in Cuba,...