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Wednesday, November 6, 2024

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Stagflation Warning: Service Economy Contracts as Prices Rise

(Mike Maharrey, Money Metals News Service) In another stagflation warning sign, the U.S. service sector contracted in April even as service prices rose. The Institute for Supply Management's non-manufacturing PMI dropped to 49.4 in April, dipping from 51.4 in March. The expectation was for the index to increase to 52.0. A...

Judge Orders Pharmaceutical Company to Pay $1.5 Billion in Opioid Case

(Brett Rowland, The Center Square) – A judge on Friday ordered a pharmaceutical company to pay $1.086 billion in criminal fines and $450 million in criminal forfeiture for misleading doctors about the safety of an opioid medication. It was the the second-largest set of criminal financial penalties ever levied against...

Turkey, China and India Lead Solid Month in Central Bank Gold Buying

(Mike Maharrey, Money Metals News Service) Central banks continued to steadily add gold to their reserves in March. On net, central banks globally increased their gold holdings by 16 tons, according to the latest data compiled by the World Gold Council. Buyers added 40 tons of gold to their...

Maharrey on Bryan Hyde Show: Monetary Policy & the Future of the Dollar

(Money Metals News Service) In a recent episode of The Bryan Hyde Show, Bryan Hyde interviewed Mike Maharrey, an analyst and writer associated with Money Metals Exchange and the Tenth Amendment Center. Maharrey brought his expertise in macroeconomics and constitutional principles to discuss pressing issues in monetary policy and...

The Federal Reserve Is Fighting Inflation Blindfolded

(Mike Maharrey, Money Metals News Service) Federal Reserve Chairman Jerome Powell and his fellow central bankers are swinging at inflation like a blindfolded kid trying to break a piñata. Do you remember the March FOMC meeting? The Fed released its projections for rate cuts in the coming months. The consensus...

Fast-Food Jobs Disappear after California Enacts $20 Minimum Wage

(Matthew Doarnberger, Headline USA) Fast-food restaurants across California have decreased their hiring of workers as part of the fallout from the state's $20-an-hour minimum-wage law that took effect April 1. After Gov. Gavin Newsom signed the legislation into law last September, which applied to nearly all fast-food chains (with a...

Brazilian UFC Fighter Delivers Economic Punch to the Face

(Mike Maharrey, Money Metals News Service) Why is CNN suddenly highlighting an Austrian free-market economist? You can thank a Brazilian UFC fighter. After a recent victory, a bruised and bloodied Renato Moicano gave a shoutout to Ludwig von Mises and the U.S. Constitution. “I love America. I love the Constitution. I...

Congress’s Inaction on Debt ‘Irresponsible,’ Says Former Comptroller

(Brett Rowland, The Center Square) The former U.S. Comptroller General said Congress' failure to address the federal debt burden was "irresponsible." David Walker, former Comptroller General of the United States and a member of the Main Street Economics Advisory Board, said recent economic data should prompt lawmakers to take action...

Biden Calls Economy ‘Strong’ Despite Poor GDP Growth

(Casey Harper, The Center Square) – President Joe Biden on Thursday defended newly released economic growth numbers that fell way short of economists' expectations. Federal data shows the U.S. Gross Domestic Product grew at an annual rate of 1.6% in the first three months of this year, down from 3.4%...

Ukrainian Special Interest Group Seeks to Weaponize FCC against Musk

(Ken Silva, Headline USA) In September 2022, Elon Musk may have prevented a World War 3 when he instructed SpaceX employees to disable his Starlink internet service to prevent a Ukrainian attack on the Russian naval fleet in Crimea. Now, a Ukrainian special interest group seeks to have the Federal...

‘Squad’ Rep. Paying Hubby $5K/Month in Campaign Cash, Despite Probe

(Headline USA) “Squad” Rep. Cori Bush, D-Mo., continues to pay her husband tens of thousands of dollars from her campaign despite a Justice Department probe into her alleged misuse of campaign funds. Federal Election Commission records released on Monday showed that Bush’s campaign made two $2,500 payments to her husband, Cortney...

Don’t Be a Victim of Gold and Silver Scams!

(Mike Maharrey, Money Metals News Service) An elderly woman in Maryland lost nearly $800,000 in a gold scam. The incident underscores the importance of using caution when buying, selling, and handling gold and silver. Montgomery County Detective Sean Petty told NBC4 that the woman was taken by a “well-crafted scam.” The rip-off...
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