See the full story in the original article.
Read the original on heraldstaronline.com ↗
Related news
- Jefferson County 2027 budget likely affected by inflation
- There no excuse for $2 trillion budget deficits – Orange County Register
The U.S. federal government closed fiscal year 2026 with a deficit of nearly $2 trillion, according to the Congressional Budget Office, second only to the pandemic years of 2020 and 2021. Federal revenue rose 3% to more than $5.4 trillion, but spending climbed 6% to $7.4 trillion, with interest on the debt up 11% to over $1.1 trillion. The author argues that even if the roughly $130 billion in tariffs struck down by the Supreme Court had been kept, they would cover less than a tenth of the gap. He calls for reforms to Social Security, Medicare and Medicaid, and warns that U.S. debt could reach 120% of GDP within a few years, as France’s already has.
- Revenue problem: County faces $4 million preliminary 2027 budget deficit
CFO David Bulzoni said the county's $190 million preliminary 2027 spending plan has a deficit of nearly $4 million that will be hard to close without raising property taxes, which two of three commissioners have said they won't do. The gap has already shrunk from an almost $9 million projected shortfall through cuts and nonrecurring revenues, while drawing down the fund balance could jeopardize the county's credit rating. Budgeted expenses rose more than $9.2 million, or 5.1%, from 2026, while property tax revenue, the largest recurring source, is projected to grow just $267,324, or 0.26%. Bulzoni and consultant PFM recommend regular tax increases, but commissioners Thom Welby and Chris Chermak say they won't raise taxes in 2027 following the nearly 33% hike in 2025. Bulzoni warned that unaddressed deficits compound, pointing to past shortfalls growing from $8 million to $15 million and then $37 million.
- Got a Raise in Past 2 Years ? It Likely Now All Eaten by Inflation .
Average hourly pay, adjusted for inflation, has returned to roughly where it began in January 2025: the average wage was $35.84 then ($37.79 in today's dollars), versus $37.81 last month, essentially unchanged over 20 months. September consumer prices rose 3.7% year-over-year, above the 3.6% expected and up from 3.4% in August, while gasoline rose 9.1% month-over-month. Economists describe the inflation problem as persistent, and Navy Federal Credit Union's Heather Long links the squeeze to the war in Iran that began at the end of February. The University of Michigan's consumer sentiment index fell to 46.3 in October from 71.7 in January 2025. Some measures look better: weekly earnings have grown faster than hourly pay, the White House cites annual earnings growth of more than $600, and producer prices rose 1.3% in September, the highest since 2022.
- Inflation likely peaked for 2026 but will remain sticky, according to prediction markets
Traders on Kalshi think inflation likely peaked for 2026 but see no sharp drop anytime soon. They expect September's consumer price index, due Wednesday, to rise 3.6% year over year, in line with the FactSet consensus and up from 3.4% in August. Speculators put just under one-in-three odds that inflation hits new highs in 2026, after the prior peak of 4.2% in May. Core inflation is predicted to hold steady at 2.4%, and traders expect it to stay elevated for the rest of the year, with only a 6% chance it falls below 2.2% in 2026.
Related markets
Latest news
- South Korean IPO plunge deepens AI market jitters as brent tops $111
South Korean data centre company Elice (0158S0) closed at 60,500 won ($45.57) on its debut, down over 30% from its 90,500 won offer price, despite a retail offering oversubscribed more than 400 times. The IPO raised $151 million at a valuation of roughly $755 million, according to Bloomberg. The debut came as the KOSPI dropped almost 4% to 5,552, with Samsung Electronics and SK Hynix also falling, and CoreWeave (CRWV) slipped another 3% in U.S. pre-market trading. Investors are questioning the borrowing costs, debt levels and returns of AI infrastructure spending, while Brent crude topped $111 a barrel, its highest since May, amid Middle East supply and shipping concerns.
- Bitcoin Could Beat Stocks, Gold Over 10 Years, Says JPMorgan – But It Comes With A Volatility Warning
J.P. Morgan Asset Management's 2027 Long-Term Capital Market Assumptions forecast a base-case annual return of 10% for Bitcoin over the next 10 years, ahead of U.S. large-cap stocks (7.5%), U.S. REITs (8.2%) and gold (5.5%). The forecast comes with 55% annualized volatility, compared with 18% for U.S. large caps, and the bear and bull cases are annual losses of 11.2% and gains of 16.6%. JPMorgan still leaves Bitcoin out of its core portfolio allocation models, calling it speculative and too volatile, with correlations of 0.33 to U.S. large caps and 0.10 to gold. The firm says Bitcoin could play a larger role if volatility falls, correlations stabilize and regulation becomes clearer. At the time of the article, Bitcoin was trading around $81,400, down over 1%.
- South Korean IPO flop is the latest in a string of disappointments for the global AI trade
In October alone, three planned IPOs of data-center providers backed by AI heavyweights such as Nvidia, Blackstone and SoftBank have been shelved. Investors are not convinced that the planned capital expenditure is sustainable.
- Securities sector Q3 update as of 20/10: another major firm reports trillion-dong profit, and profit growth tops 500%
As of the afternoon of 20 October, 53 securities companies had published their Q3 2026 financial reports, showing sharply divergent results. VPS (VCK) led with Q3 pre-tax profit of nearly 1,119 billion VND, down 20% year-on-year, though its nine-month pre-tax profit reached 4,044 billion VND, up 27%. HD Securities (HDS) posted Q3 pre-tax profit of over 769 billion VND, up 208%, while VTG's profit rose about 538% to nearly 52 billion VND. In contrast, HSC, DSE, FTS and TCSC saw Q3 profit fall between 33% and 90%, and Beta recorded a pre-tax loss of about 5.4 billion VND.
- GGL Resources Corp. and Strategic Metals Ltd. Property Transaction Approved
The TSX Venture Exchange has accepted GGL Resources' property transaction with Strategic Metals for copper-gold properties in southwest Yukon, a related-party deal approved by disinterested shareholders on August 31, 2026. As part of the acceptance, GGL consolidated its shares at four pre-consolidation shares for one. GGL can earn a 70% interest in the Hopper, Kluane, Batt and Moraine properties by issuing 1,000,000 shares to Strategic by October 31, 2026 and spending $10,000,000 on exploration by December 31, 2029. It can then acquire the remaining 30% for $3,000,000, with Strategic retaining a 2% net smelter return royalty; if only the first option is exercised, the parties will form a 70/30 joint venture.
- IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. Are Shaking Wall Street to Its Core With This $1 Billion Warning
Four pure-play quantum computing stocks, IonQ, Rigetti Computing, D-Wave Quantum and Quantum Computing Inc., have gained between 154% and 1,180% over the two years to Oct. 16. Form 4 filings over the past five years show insiders have been decisive net sellers, with net sales of $1.02 billion across the group since Oct. 16, 2021, while insider purchases totaled under $4.3 million. The author notes that tax-related or diversification sales are normal, but the near absence of insider buying is a warning sign. The stocks trade well above 30 times trailing 12-month sales, a level the article says has historically flagged bubbles.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.