The 80% rise in the U.K.'s cap for consumer electricity and natural gas bills this fall will drive millions of households into energy poverty this winter as the worsening cost-of-living crisis stokes fears of recession.
"Powell is likely to push back on premature expectations of a dovish pivot, reiterating the focus on the fight against high inflation. Whether markets take him seriously amid an increasingly gloomy outlook for the global economy is yet to be seen."
Russia says it will move away from the dollar, euro and SWIFT in commercial, economic, and investment relations with partners, as these currencies have become "toxic," Deputy Foreign Minister Alexander Pankin has said.
The world economy and especially the political and economic situation today consists of a potpourri of lethal ingredients which will have dire consequences...
Let's look at what this deadly potion consists of:
According to Adam Smith in his foundational economics classic 'The Wealth of Nations,' the three basic elements of price for a product are 1) the cost of labor, 2) the cost of rent and 3) the cost of capital (i.e., industrial equipment).
Chinese authorities had high hopes for China's chip industry, expecting to see a "semiconductor miracle," which would then affirm the "advantage of China's whole nation system," as well as overcome technology sanctions imposed by the Unit
Update (1000ET): The water level on the Rhine River at Kaub, Germany, has fallen to a critical 40 centimeters (15.7 inches). It becomes uneconomical for barges to transit Europe's most important inland waterway at this level.
What is taxation? It's actually theft. Why do I say that? If you look up the dictionary definition of theft, it says, "the act of stealing, specifically the felonious taking and removing of personal property with intent to deprive the rightful ow