World stocks fell from the previous session’s record highs, European stocks dropped, and Wall Street futures were down on Wednesday on caution over the pace of economic recovery, while the dollar hit one-week highs as investors pared down their exposure to riskier assets. MSCI’s all-country world equity index fell 0.34 percent after seven consecutive days of gains, … Continued
At first blush, it may not seem that the Democrats’ $4.5 trillion infrastructure and spending plans and President Joe Biden’s bungled exit from Afghanistan have a nexus. But they do in China’s rare metals monopoly. Beijing already dominates the rare metals market needed for electronics, electric car batteries and computers, a reality made more painfully … Continued
In a notable break with progressives, Sen. Joe Manchin (D-W.Va.) said in an interview that the coal industry “will be saved, has to be saved, because the country can’t survive without it.” Others in the Democratic Party have asserted that the coal industry contributes to global warming and that it should be replaced with other sources of … Continued
Hackers stole over $600 million in digital assets Tuesday from users of cryptocurrency platform Poly Network in one of the largest digital token heists ever. Poly Network, a decentralized finance (DeFi) platform that allows users to trade digital currencies with one another, announced the hack Tuesday. Cybersecurity firm SlowMist, which investigated the hack, said the total value of assets … Continued
On Aug. 11, Senate Majority Leader Chuck Schumer (D-N.Y.) publicly released the full text of Sen. Bernie Sanders’ (I-Vt.) $3.5 trillion budget proposal. A few hours later, the Senate narrowly confirmed the budget 50-49. Now, the budget must win approval from the House of Representatives after they return from their recess. The outline is expected to be the first step … Continued
President Joe Biden counterintuitively argues that his proposed massive increases in government spending are the keys to beating back inflation, which hit 5.4% last month, and contends that “no serious economist” thinks unchecked inflation is on its way. According to his own advisers, Biden is wrong on both counts. Treasury Secretary Janet Yellen on July 15 said … Continued
Companies big and small are raising wages to attract workers and hold onto employees as the economy revs back into gear But those fatter paychecks aren’t going as far, thanks to rising inflation. In fact, compensation is now lower than it was in December 2019, when adjusted for inflation, according to an analysis by Jason Furman, an … Continued
Sen. Joe Manchin (D-WV) has asked the Federal Reserve to taper its monetary stimulus. Despite rising inflation, the Federal Open Market Committee — which oversees the execution of monetary policy in the United States — has so far declined to amend its near-zero interest rate target or scale back its $120 billion in monthly asset purchases. Manchin … Continued
Biden’s inflationary spending is hurting America’s poor because they don’t have a lot of options when the price of gas and groceries go up. If Democrats really cared about the poor in this country, they would stop the trillion dollar spending that is driving up inflation. Americans for Limited Government President Rick Manning joined the CURE America … Continued
The economy grew had one of the largest quarterly expansions in United States history after a year fraught by the COVID-19 pandemic. U.S. gross domestic product grew at a 6.5% annual rate in the first quarter of 2021, the Bureau of Economic Analysis announced on Thursday morning. The growth was short of expectations but indicates that … Continued
U.S. population growth is slowing, approaching zero, and even reversing in half of all states in 2020, The Wall Street Journal reported. Early estimates are the U.S. population amid COVID-19 grew by just 0.35% for the year ending July 1, 2020, and more people died than were born in half of U.S. states, up from just … Continued
The median sale price of an existing home rose to a record high of $363,300 in June as purchases broke a four-month streak of declines, according to data released Thursday by the National Association of Realtors (NAR). As home sales rose 1.4 percent last month, the median sale price of an existing home soared 23.4 … Continued
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