Homeownership—once a hallmark of the American dream—has drifted further and further out of reach for the average American. More than half of US renters believe they’ll never own a home, and 80 percent of Americans say homeownership is slipping out of reach.
The estimated costs of the Fed’s building renovation project have risen from $1.9 billion to $2.5 billion. Hilariously, the Fed admits that one of the factors for the revised costs is “differences over time between original estimates and actual costs of materials, equipment, and labor.” Translation: “Looks like we’re not so good at forecasting and stabilizing future price inflation.”
For years, the United States has held an advantage over much of the world because the dollar serves as the world’s reserve currency. This has given the United States the ability to run large deficits and even weaponize its currency against other countries. As a result, there has been growing speculation that other nations, such as the BRICS countries, will begin trading in a currency backed by gold.
As our relative walked through what had been her family home, she began to cry as she recorded the destruction. Her place was one of the thousands burned down a year ago in the Palisades Fire in Los Angeles. Other relatives living in Altadena had to flee the Eaton Fire at about the same time, although their home was not damaged. Likewise, the childhood home of my wife’s cousins was also consumed in that same fire.
Trump has abandoned the 50-year mortgage scheme, after most people figured out it mostly helps bankers at the expense of ordinary people.
In the Powell v Trump feud, the world’s central bankers support Powell. This is not surprising since central banks coordinate policy to benefit the global banker class.
