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News & Articles By Belle Carter
07/26/2022
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By Belle Carter
Report: Around 50% of older Americans CAN’T AFFORD necessary expenses
Inflation and the long-term impacts of the Wuhan coronavirus (COVID-19) pandemic have been straining, if not emptying, the purses of Americans. But an analysis found that elderly Americans were more susceptible to their budgets falling short. According to the University of Massachusetts Boston‘s (UMB) Elder Index, 54 percent of older women living alone are in […]
07/21/2022
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By Belle Carter
Canadian houses now selling at hefty discounts as real estate values plummet
Homes are starting to sell at discounted prices in Canada, a trend that used to be unthinkable just a few months ago for the thriving real estate market in the country. In various parts of the North American country, houses are being sold at almost a bargain price. An opulent five-bedroom house listed at $2.25 million ended […]
07/20/2022
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By Belle Carter
Wholesale prices jump 11.3% year-over-year in June – Bureau of Labor Statistics
Wholesale prices jumped by double digits year-over-year in June, yet another reminder that inflation is still hounding the U.S. economy with no indication of subsiding soon. The Bureau of Labor Statistics (BLS) reported last week that the producer price index (PPI), a measure of the average change over time in the selling prices received by domestic producers for […]
07/15/2022
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By Belle Carter
Fewer Americans are buying homes as worsening inflation takes toll
Fewer Americans are purchasing homes and the ones who are buying are acquiring more affordable homes as consumers are greatly affected by the worsening inflation. Mortgage demand fell last week compared with the previous week, and the average loan size shrank as well. According to the Mortgage Bankers Association’s (MBA) seasonally adjusted index, mortgage applications to buy […]
07/12/2022
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By Belle Carter
Rice, soybean markets plummeting, economist reveals
The June 30 reports by the U.S. Department of Agriculture (USDA) showed a sharp downfall in the rice and soybean markets. University of Arkansas agriculture economist Scott Stiles said it is hard to pin down the exact drivers of the futures market. “But for certain, the September rice contract had moved well into ‘oversold’ territory,” he said. […]
07/06/2022
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By Belle Carter
Bear market effect: Crypto miners face margin calls as debt mounts
Cryptocurrency miners are facing margin maintenance calls as the bear market continues to claim victims. Bear market is the term used to describe a sustained period when the equity markets are down at least 20 percent from their recent peaks. Maintenance call, on the other hand, refers to a call to an investor for additional funds […]
07/05/2022
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By Belle Carter
Australian bank tells customers to withdraw funds immediately before it closes this week
An Australian digital bank has collapsed and advised 6,000 customers to withdraw their money before it stops doing business this week. “Customers need to transfer the balances held in all Volt accounts to a nominated bank account with another financial institution before the 5th of July 2022, Tuesday,” Volt Bank’s website said. The neobank’s eight board […]
06/24/2022
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By Belle Carter
Renowned economist predicts looming profit recession “will be the worst in 50 years”
Renowned economist Stephanie Pomboy has predicted that corporations will soon be beaten by an earning recession as many of them have not been able to pass high input costs to the inflation-tired public. In her recent appearance on the financial solutions program “Wealthion,” Pomboy explained that a measure that she relies on as a proxy for […]
06/23/2022
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By Belle Carter
Barclays research reveals that Americans are spending LESS on services
Data from the recent Barclays research revealed that more Americans are beginning to resist spending on services, such as eating at restaurants and booking flights and accommodations. “All through 2022, the narrative has been that as [Wuhan coronavirus] COVID-19 faded, households would ramp up spending on services. This indeed has been true for much of […]
06/19/2022
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By Belle Carter
Celsius Network under probe over suspension of withdrawals, swaps and transfers between accounts before bail-in FREEZE
Celsius Network is reportedly under investigation following its decision to suspend withdrawals, swaps and transfers between accounts. Texas State Securities Board Director of Enforcement Division Joseph Rotunda said Alabama, Kentucky, New Jersey, Texas and Washington regulators are probing the crypto lending platform. “I am very concerned that clients, including many retail investors, may need to […]
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