from CBS 12 News – WPEC
U.S. Debt Nears $36 Trillion as Asset Inflation Keeps Economy Afloat
by Money Metals
GoldSeek
In the latest Money Metals Midweek Memo, host Mike Maharrey highlights the growing U.S. national debt, which now exceeds $35.7 trillion.
Maharrey begins the episode with a reference to the Apollo 13 mission, saying, “Washington, we have a problem.” He draws parallels between the crisis faced by astronauts and the fiscal disaster Washington is ignoring.
Unlike the Apollo 13 team, Maharrey argues that government officials are pretending everything is fine, despite mounting financial problems.
Disney World Hikes Prices for Its Annual Passes by Up to $100
by CNN
CP24
(CNN) — If you’re a regular visitor to Walt Disney World, your annual passes are going to cost you more. The resort in Orlando, Florida, hiked prices on all four levels of its passes on Wednesday.
Its most powerful annual pass, the Disney Incredi-Pass, now costs $1,549 (plus tax). That’s a $100 increase from its most recent price. The Incredi-Pass has no blackout dates and can be purchased by people living outside the state of Florida.
The three lower-level annual passes also saw price increases:
IMF Says Inflation Battle Nearly Won But High Debt Levels Pose Risks
by John Carney
Breitbart.com
The International Monetary Fund (IMF) announced that while it believes the global fight against inflation is nearing completion, significant risks remain due to high debt levels in many countries.
Despite these challenges, the United States is emerging as a clear leader among advanced economies, driven by robust investment and productivity gains.
In its latest World Economic Outlook released Tuesday, the IMF projected that global inflation will fall to 3.5 percent by the end of 2025, a significant decrease from the 9.4 percent peak seen in 2022. This positive trend is largely attributed to effective monetary policies implemented by central banks, which have managed to raise interest rates without pushing economies into recession.
IMF’s End-of-Inflation Party Sobered by Debt, War … and a U.S. Election
Inflation may be on the retreat, but growth is slowing and debt is rising as the West and China square off ever more directly.
by Geoffrey Smith
Politico
There will be more than a bit of self-congratulation in the air as the world’s top financial figures descend on Washington, D.C., this week for the annual meetings of the International Monetary Fund and the World Bank.
Inflation, which surged globally after the pandemic and won a second lease on life through food and energy markets after Russia’s invasion of Ukraine, is on the retreat. Moreover, it has fallen without the world’s central banks having had to tip the economy into recession with high interest rates.
“A combination of resolute monetary policy action, easing supply chain constraints, and moderating food and energy prices is guiding us back in the direction of price stability,” IMF Managing Director Kristalina Georgieva said in a curtain-raising speech on Thursday.
U.S. Economic Resilience in Wake of Pandemic, Inflation Battle ‘Fantastic Achievement’
by Cory Smith
The National News Desk
(TNND) — The world’s “battle against inflation is almost won,” an official with the International Monetary Fund said Tuesday.
Pierre-Olivier Gourinchas, the economic counselor and the director of research of the IMF, said they’re projecting that worldwide inflation will fall to 3.5% by the end of next year.
World inflation is now 5.8% after peaking at 9.4%.
In the U.S., we’re already under 2.5% inflation.
“Now, the decline in inflation without a global recession is a major achievement,” Gourinchas said at a news conference for the IMF’s World Economic Outlook.
Brazil Central Bank Very Worried About Inflation, Picchetti Says
by Maria Eloisa Capurro
Yahoo! Finance
Speaking at an event in Washington, Picchetti said that while inflation has been decelerating, it has stabilized above the bank’s 3% target as fiscal stimulus drives Brazil’s surprisingly strong economic activity.
“We’ve had partial success because inflation has clearly been decelerating, but it has not continued to decelerate toward the target,” Picchetti said, adding that policymakers are “carefully observing” economic and fiscal developments amid mounting worries about public spending.
As Inflation Recedes, Global Economy Needs Policy Triple Pivot
Growth is projected to hold steady, but amid weakening prospects and rising threats, the world needs a shift in policy gears
by Pierre-Olivier Gourinchas
IMF
The global economy remained unusually resilient throughout the disinflationary process. Growth is projected to hold steady at 3.2 percent in 2024 and 2025, but some low-income and developing economies have seen sizable downside growth revisions, often tied to intensifying conflicts.
From High Inflation to Hyperinflation: How Close Are We?
by Nick Giambruno
International Man
The Federal Reserve is now entering a monetary easing and rate cutting cycle in an environment of elevated inflation.
The last time this happened was during the 1970s, a decade that saw inflation spiral out of control.
The 1970s: An Optimistic Scenario
In the early 1970s, under Chairman Arthur Burns, the Fed faced rising inflation and concerns about economic growth and unemployment.
Despite elevated inflation, the Fed cut interest rates multiple times until 1972 to stimulate economic growth.
Inflation soared to over 12% in the months that followed.
Today’s Real Inflation Rate is Closing in at 40%
by Victoria White Berger
American Thinker
Updated, accurate reports have just been released by distinguished economists, federal watchdogs and reputable fact checkers on the actual economic situation—according to these, the U.S. has been in a recession since 2022, and the real inflation rate is now hovering close to 40%.
Most recently, the Brownstone Institute indicated the actual inflation rate as close to double the “informed” rate from media and government sources:
Many have questioned the accuracy of official inflation statistics, with dozens of academic papers written on the topic and doubts voiced by sources ranging from the New York Times to former President Donald Trump.
[snip]
According to our adjustments, cumulative inflation since 2019 has been understated by nearly half. This has resulted in cumulative growth being overstated by roughly 15%. This is a large amount for just 5 years – for perspective, peak-to-trough drop in real GDP during the 2008 crisis was 4%.
Inflation Gauge is Easing but Some of Biggest Expenses Are Left Out
by Alex Tanzi
Insurance Journal
Price pressures have eased substantially over the past two years, but a disconnect remains between what US inflation data show and what millions of Americans experience with their finances.
That’s in part because price levels are still higher than they were before the pandemic. Another explanation: the government’s key inflation measure excludes a number of major everyday costs that have surged in recent years.
Property taxes, tips and interest charges from credit cards to auto loans aren’t factored into the Bureau of Labor Statistics’ consumer price index. The CPI also leaves out a key aspect of home insurance, as well as brokerage fees and under-the-table payments to babysitters and dog walkers — costs that can add up.