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This Has To Be A Mistake While we were digging through the data for today’s household net worth report we stumbled upon something that seem beyond ridiculous: the ratio of Household Net Worth to Disposable Net Income. At 786% in the latest quarter, the chart at first appears to be a mistake but we triple
“Hyperinflation” Tops List Of Fears For UBS Clients With Democrats in Washington pushing for a $3.5 trillion ‘social infrastructure’ stimulus package and Speaker Pelosi perhaps hinting at the removal of the debt ceiling altogether for the US, it is perhaps no surprise that some are ‘worried’ that the idea of consequences is absent from any
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STORY AT-A-GLANCE In his presidential campaign, Joe Biden promised he would not impose vaccine mandates. September 9, 2021, Biden issued an executive order, mandating all U.S. companies with 100 or more employees to require COVID vaccination or weekly testing, or face federal fines of up to $14,000 per violation Biden is also requiring all federal
Dr. Howard A. Zucker/Pool via AP (Headline USA) New York Health Commissioner Howard Zucker, who was a leading defender of former Gov. Andrew Cuomo ‘s response to the COVID-19 pandemic, has submitted his resignation, Gov. Kathy Hochul said Thursday. Zucker has faced heated criticism over the state’s COVID-19 response, particularly in nursing homes. Nearly 16,000
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Federal Workers Sue Biden Over Vaccine Mandate As the FDA bucks President Biden’s booster jab push, a group of federal workers and contractors are suing President Biden to try and stop his sweeping federal vaccine mandate, according to media reports. The lawsuit, filed in Washington Thursday, challenges President Joe Biden’s executive edict requiring all federal
Bond Bulls Are Puking… As stocks soar on the day after The Fed, yesterday’s bid for the long-end of the bond curve has been eviscerated… Source: Bloomberg With The Fed’s hawkish comments sending real yields soaring… Source: Bloomberg …and nominal yields explode higher today… Source: Bloomberg All of this is happening as we noted earlier
University of Michigan economist Justin Wolfers tweets: “Stunning new estimates suggest that the 400 wealthiest American families paid an average Federal tax rate of only 8.2%.” Wow, I thought. That is stunning. It’s true that a large percent of Americans have a zero average federal tax rate. But many higher income people like Justin and me don’t. I