PODCAST: Why This Recession is Different

Israeli strikes on Gaza on Sunday killed at least 12 people, including two children and a pregnant woman, as the Israeli military continues its violations of the US-backed ceasefire deal. The Associated Press reported that a strike on Sunday morning hit a house in the Nuseirat Refugee Camp in central Gaza, killing a man, his […]

Diplomacy Has Not Stopped, Iran Says, While Vowing To Continue The Fight; Trump Mulls Plan To Deliver 'Final Blow' Summary Iran rejects US plan but says diplomacy continues (indirectly, apparently) - White House, Pentagon reviewing options for 'final blow' as Trump tells Iranians 'get serious' about talks. Trump said to want 'speedy end to war' (WSJ) while at the same time warning Tehran of 'no turning back' if it doesn't negotiate. Israel says it has killed Alireza Tangsiri, commander of Iran’s Islamic Revolutionary Guard Corps navy. Iran "laying Traps" & "building up defenses" on...

Surging Services Costs Spark Unexpected Surge In US Producer Prices In January US Producer Prices came in hotter than expected in January, with the headline PPI rising 0.5% MoM (vs +0.3% exp), higher than the revised +0.4% MoM in December. This left Producer Prices up 2.9% YoY (hotter than expected but below December's +3.0%)... Source: Bloomberg Under the hood, we see a surge in Services costs (not tariff related) dominated the rise in PPI (while Energy saw deflation) Final demand services: The index for final demand services advanced 0.8% in January, the largest...