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Saturday, November 16, 2024

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California Businesses Continue to Relocate to Texas

(Bethany Blankley, The Center Square) The exodus of companies from California continues, with many relocating to Texas, according to a tally kept by the California Policy Center. According to its California Book of Exoduses, 183 companies have left California since 2005, citing the state’s ever-expanding regulatory and taxation climate. Since Gov....

Bidenflation Hurting Holidays for Small Businesses

(The Center Square) – Small businesses around the country still see inflation as a top concern this Christmas season. Goldman Sachs released survey data that found that 52% of surveyed small business owners say that their profitability "has not met expectations. Even while an overwhelming 79% have increased prices compared...

Biden’s Teamsters Bailout Sets Bad Precedent, Group Says

(Andrew Hensel, The Center Square) With the Teamsters union receiving a significant pension bailout from the federal government, Illinois taxpayers will now be paying for both public and private pension systems. Last week, President Joe Biden announced the federal government would use nearly $36 billion to stabilize the Teamsters union...

Edu. Dept. Backpedals on Emails to 9M Borrowers Falsely Promising Loan Amnesty

(Molly Bruns, Headline USA) The Department of Education sent out 9 million emails to student loan forgiveness applicants, explaining that an initial email telling them their application was approved was an error. According to the secondary email, the initial announcement was an error. “Due to a vendor error, you recently received...

Biden Regime Linked to Suspected Insider Trading w/ CPI Leak

(Mark Pellin, Headline USA) While November’s consumer price index release this week showed inflation slightly cooling, delivering a lower than projected 7.1% hike from the previous month, the report’s release also cast a cloud over the Biden administration regime for suspicion of insider trading. The janky activity started about 60 seconds...

COVID Cash Used to Boost Guaranteed Income Projects across U.S.

(The Center Square) – About 180,000 people applied for the Los Angeles County guaranteed-income program in the spring of 2022. But there were just 1,000 spots available. It was a sign of high demand for the $1,000-a-month no-strings-attached stipend from the government. New guaranteed income programs are popping up across the...

Fed Hikes Interest Rates Another Half-Point to Highest Level Since 2007

(Headline USA) The Federal Reserve raised its key interest rate for the seventh time this year and signaled more hikes to come after a recent report showed that economy-wrecking inflation remained more than three times the normal 2% benchmark for healthy year-over-year growth. Despite signs of inflationary easing, the Fed...

IRS Warns of 50% Penalty for Failing to Make Retirement Withdrawals

(Joe Mueller, The Center Square) Throughout the decades, millions of Americans had small amounts from their paychecks withdrawn---before taxes were deducted---and invested the money in retirement plans. As those taxpayers retire or plan for retirement, the Internal Revenue Service is reminding them about required mandatory withdrawals from retirement accounts. Failure to...

Report: Inflation Remains Sky High at Estimated 7.3%, Despite Fed Intervention

(Headline USA) A high-profile report on inflation to be released Tuesday morning was expected to show that the numbers continue to be more than three times what it was, on average, during the Trump administration, despite an aggressive---and economically risky---gambit by the Federal Reserve to bring it back down. Economists...

Bankman-Fried Arrested, Charged w/ Defrauding Investors

(Headline USA) The U.S. Securities and Exchange Commission has charged the former CEO of failed cryptocurrency firm FTX---also Democrats' second largest donor in the 2022 midterm election cycle---with orchestrating a scheme to defraud investors. An SEC complaint filed Tuesday alleges that Sam Bankman--Fried raised more than $1.8 billion from equity...

FTX Founder to Testify before Congress on Tuesday

UPDATE: Sam Bankman--Fried was arrested Monday night prior to testifying in the House hearing. Complete details on the arrest are here. (Molly Bruns, Headline USA) Sam Bankman--Fried, the former CEO of crytpocurrency company FTX, will testify before the House Financial Services Committee during a hearing on Tuesday titled "Investigating the...

Federal Trade Commission Sues Microsoft to Block Activision Blizzard Deal

(Brett Rowland, The Center Square) The Federal Trade Commission filed suit Thursday against Microsoft Corp. to block it from acquiring Activision Blizzard Inc., publisher of the "Call of Duty" games. The FTC alleges the largest acquisition in the video gaming industry would allow Microsoft to suppress competitors to its Xbox...
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