ron insana
@rinsana
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I am a contributing commentator for CNBC and MSNBC and a public speaker and observer of all things economy and market-related.
Joined April 2009
It would appear that absolutely no first team starter on the Bills can get injured this year!.
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Maybe the most bearish element of this market is the pop in the IPO of a company called "Bullish!".
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From the Washington Post:."Lutnick claims Trump tariffs will bring in $50 billion monthly in revenue".If true, the Commerce Secretary is admitting that either corporate import taxes, consumer sales taxes, or a combination of both, are being raised by $600 billion annually!.
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The proposed 2026 federal budget calls for an 8% cut in staff & funding for the BLS, reducing funding from $704 million to $648 million. Hard to modernize systems and collect more and better data on jobs & inflation with fewer resources and $. Firing the commish doesn't fix that.
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Looking forward to joining my good friend and colleague, Stephanie Ruhle and my friend from the FT, Gillian Tett. Please tune in!.
TONIGHT: The House Oversight Committee subpoenas the DOJ for its ‘Epstein files’ -- while DOJ weighs releasing the audio and transcript from the interview with Ghislaine Maxwell last month -- & Senator John Cornyn asks the FBI to arrest Texas Democrats who fled the state to block.
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This is extremely important. Good data requires good data collection.
"Staffing shortfalls have forced the BLS to stop collecting prices in Lincoln, Neb.; Provo, Utah; and Buffalo, N.Y. In the rest of the country, the bureau is also missing an average of about 15% of the price data it usually collects, it said last week."
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Looking under the hood of the market . The S&P 500 is +5.76% YTD (including today's slide), Dow Transports are -4.93%. The small cap Russell 2000 is -2.92% while the Gold/Silver Index is +49.13%. The internals of the stock market scream "stagflation!"
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There is a rising risk that we are entering the worst of all possible economic worlds. A lot can change but slower growth and stubborn inflation is reminiscent of the 70s. Perhaps disco is coming back too! (God forbid!).
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