Category: #Money
Mortgage applications plummet 14% as higher interest rates and Hurricane Ian crush demand
The highest mortgage rates in more than 20 years coincided with one of the deadliest hurricanes on record in the United States, both contributing to…
Jay Powell takes on the world
Federal Reserve Chair Jerome Powell is waging a relentless battle against inflation that threatens to leave a path of destruction on the global economy in…
Biden’s student loan cancellation plan to cost $400B, Congressional Budget Office estimates
President Biden’s plan to forgive $10,000 in federal student debt for most borrowers will cost the government about $400 billion over 10 years, the CBO…
Fears of Fed-induced pain grow, from global recession to deflation
The Federal Reserve is poised to deploy another supersized interest rate hike to fight the sharpest price surge in 40 years, a move that has…
Mortgage demand rises for the first time in six weeks despite sharply higher interest rates
Mortgage application volume increased last week for the first time in six weeks, according to the Mortgage Bankers Association, despite a rise in interest Source:…
The Fed Is Getting Even Tougher on Inflation. Here’s What To Watch First.
In August, central bankers and economic pundits from around the world descended on Jackson, Wyo., to hear the keynote speech at the Federal Reserve’s annual…
1 in 5 households has medical debt. That includes people with private insurance.
Medical debt is leaving many people in the U.S. unable to afford groceries or pay their mortgages, even among the insured, research published Friday has…
Private equity still investing billions in dirty energy despite pledge to clean up
Carlyle, Warburg Pincus and KKR are the worst offenders according to a new scorecard of private equity climate risks Private equity firms pumping billions of…
Corporations, capitalism and conceptions of the self
What is capitalism? What is a corporation? What is the relationship between one’s desires for consumption, capitalist notions of the individual self, and the power…
Mississippi gave $1m of welfare money to Brett Favre for “speeches” he never made—and has just fired an investigator looking into it
An easy payday for retired NFL star Brett Favre: $1m from the state of Mississippi for speeches he’d never have to deliver. The money came…
NASA will pay Boeing more than twice as much as SpaceX for crew seats
Enlarge / The Boeing CST-100 Starliner spacecraft is seen after it landed in White Sands, New Mexico, Sunday, Dec. 22, 2019. (credit: NASA/Bill Ingalls) NASA…
Jan. 6 committee will dig in on the money behind the riot, Kinzinger says
The House committee investigating Jan. 6 will dig in on the financing behind the riot and present its findings in future public hearings or its…
UK inflation hits 10.1%, driven by soaring food and fuel prices
ONS July figure shows further increase from 9.4% in June – rising to highest level since 1982 Analysis: A 13% peak for UK inflation looks…
The $80 billion question: What will the IRS do with all its new money?
The IRS is about to get a big chunk of change, and you’re going to be hearing a lot about it between now and the…
Mississippi will send back fed’s rental aid, even as housing needs remain high
In mere days, Mississippi will end its participation in the federal pandemic rental assistance program that has kept people facing eviction in their homes Source:…
Argentina hikes rate to 69.5% as inflation surges to 30-year high
Consumer prices soared 71 percent in July compared to a year ago, the government said on Thursday. Source: https://www.aljazeera.com/economy/2022/8/11/argentina-hikes-rate-to-69-5-as-inflation-surges-to-30-year-high Droolin’ Dog sniffed out this story…
Consumer prices rose by 8.5% year over year in July as the summer of inflation wears on
Inflation reached 8.5% in July, compared with a 40-year high of 9.1% in June, providing a measure of relief to consumers as gas prices fall. Source:…
Twitter Obliterates Elon Musk’s Excuses for Trying to Kill $44 Billion Deal in Blistering Court Filing
Back in April, Elon Musk made a $44 billion offer to buy Twitter before he decided in July that he wanted to cancel the deal….
Twitter investor sues Elon Musk in a bid to force through $44 billion takeover
It’s not only Twitter that’s trying to force Elon Musk to buy the company for $44 billion. An investor filed a proposed class action lawsuit…
Home prices cooled at a record pace in June, according to housing data firm
Rising mortgage rates and inflation in the wider economy caused housing demand to drop sharply in June, forcing home prices to cool down. Source: https://www.nbcnews.com/business/real-estate/home-prices-cooled-record-june-according-housing-data-firm-rcna40903…
“22 million songs a year, and only 12 notes available” – pursuing a copyright claim in the music industry today (Guest column)
This is a guest post on music copyright law by Oliver Lock, and Owen O’Rorke, who, respectively, work in Reputation Management and Intellectual Property & Commercial, at…
Here’s What’s More Likely to Happen to You Than Winning the Mega Millions
A winning Mega Millions lottery ticket is one of the most coveted items in modern capitalism, and with the current estimated jackpot at $1.1 billion,…
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