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Thursday, November 14, 2024

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Walmart to Stop Selling Tobacco in Some Stores

(Headline USA) Walmart will no longer sell cigarettes in some of its stores though tobacco sales can be a significant revenue generator. Wall Street Journal was the first to report the development Monday. It noted some stores in California, Florida, Arkansas and New Mexico were on the list, citing anonymous...

Antitrust Legislation Could Cost the U.S. Economy $319B

(Robert Davis, The Center Square) Proposed legislation in Congress that would strengthen antitrust enforcement could cost the U.S. economy more than $319 billion if enacted, according to a recent economic study. The study was conducted by the National Economic Research Associates (NERA), an economic consulting firm, and commissioned by the...

Biden Tries New Tax in Next Assault on Economy

(John Ransom, Headline USA) President Biden, who was continually rebuffed last year in his attempts to raise taxes, even by members of his own party, has just announced a new billionaire tax that the administration estimates will lower the deficit by $360 billion over a 10 year period, or roughly...

Elite BlackRock CEO Claims Globalization is Dead Due to Russia War

(John Ransom, Headline USA) Larry Fink---CEO of BlackRock, the largest asset manager in the world---said in a letter to shareholders Thursday that globalization is dead, in part because of the Russia--Ukraine war. He's the only person on planet Earth that "Globalization" actually worked for. The rest of us: DING DONG THE WITCH IS...

Pelosi’s Husband Caught in Another Insider-Trading Scheme

(Jacob Bruns, Headline USA) Once again, Paul Pelosi---the husband of House Speaker Nancy Pelosi, D-Calif.---has been caught up in an insider trading scheme, this time buying Tesla stock as Democrats wage war on gas, the Liberty Daily reported. Business Insider reported that Paul, a successful venture capitalist and stock trader,...

Beijing Biden Relaxes Trump Tariffs on China

(John Ransom, Headline USA) In order to try to save his sagging fortunes before the midterm elections, President Joe Biden has made exceptions to 352 items from China that were previously hit with tariffs under the Trump administration because of unfair trade practices, said Reuters. 🚨 Power of #China: US reinstates...

Fed Hikes, Mortgage Rates Rise Due to Inflation

(Casey Harper, The Center Square) – Mortgage rates surpassed 4% for the first time since 2019 and the Federal Reserve announced a series of new rate hikes this week, two major shifts that mark the economic response to months of elevated inflation. The Federal Reserve announced a 0.25% interest rate...

CENSUS: US Grew Wealthier, Better Educated During Trump Era

(Headline USA) The U.S. grew wealthier, better educated, less impoverished and less transient during the second half of the last decade, according to data released Thursday by the U.S. Census Bureau. Median household income for the nation, which had been almost $54,000 from 2011 to 2015, rose to almost $65,000...

As Inflation Threatens Mass Poverty, Biden Fixates on Gender Equity

(Headline USA) President Joe Biden marked Equal Pay Day on Tuesday by spotlighting new steps aimed at closing the gender pay gap for federal workers and contractors. And he urged private companies to do likewise. Ironically, any positive pay gap developments would likely be eaten whole by the soaring inflation caused...

Saudi Arabia Considers End to Petro-Dollars that Could Destabilize US

(John Ransom, Headline USA) As the Biden administration continues to stumble from one self-imposed crisis he has created to the next Biden-imposed crisis has created, news comes from the Wall Street Journal that Saudi Arabia and China are close to a deal for China to pay for oil sales with...

US Holds Chinese Imports as Possible Trade War Looms

(Headline USA) The U.S. customs agency says it is holding imported goods from Chinese sports brand Li Ning after an investigation indicated they were made by North Korean labor. However, it comes in the wake of several provocations from the Russia-allied China, leading to speculation that the move---whether intentional or...

Fed Faces Impossible Task of Hiking Rates During Crises, Avoiding Recession

(Headline USA) The Federal Reserve on Wednesday will launch one of the most difficult tasks a central bank can attempt: Raise borrowing costs enough to slow growth and tame high inflation, but not so much as to topple the economy into recession. With a war raging in Europe and price...
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