Saturday, April 19, 2025

FINANCE

Audit Finds California Regularly Sends Pension Checks to Dead People

(Cole Lauterbach, The Center Square) An audit of the California Public Employees' Retirement System, America’s largest public pension fund, found regular payments to pensioners well after they died, so much so it’s challenging to get the money back. Around 1,800 CalPERS pensioners die every month, according to a June memorandum from the fund’s...

Media Attempt to Downplay Alarming New Inflation Report

(Brad Polumbo, Foundation for Economic Education) It’s no secret that the mainstream media has a left-leaning bias. So it’s not exactly surprising that when alarming new inflation data were released on Tuesday, many journalists and media outlets attempted to downplay the story. After all, rising concerns about inflation could hamper the federal...

Futures Market Speculators Crushed Again

(Clint Siegner, Money Metals News Service) The gold and silver futures markets were designed to increase volatility and discourage physical ownership of precious metals, as revealed in 1970s-era disclosures. The futures markets have also created opportunities for manipulation. Today, the corruption is on full display for anyone who cares to look...

New York Law Bans Sale of Gasoline-Powered Vehicles by 2035

(Steve Bittenbender, The Center Square) A bill signed into law last week by New York Gov. Kathy Hochul effectively outlaws the sale of new gas-powered vehicles in less than 14 years. The law, Senate Bill S2758 and Assembly Bill A4302, sets a goal that 100% of all passenger cars, trucks and...

McConnell Warns Yellen that GOP Won’t Help Raise Debt Limit

(Associated Press) Senate Minority Leader Mitch McConnell has warned Treasury Secretary Janet Yellen he is not budging on his demand that Democrats go it alone on the federal debt limit, deepening the emerging standoff in Congress over how to boost the government's borrowing authority. Doug Andres, a spokesman for McConnell, said...

Treasury Dept Seeks to Track Transactions of Bank Accounts Over $600

(Peter Jacobsen, Foundation for Economic Education) In May, the Treasury Department released the Biden administration’s revenue proposals for fiscal year 2022. One aspect of this document that has gone under-reported is the administration's new plan for reporting requirements for financial institutions. The document is unequivocal about the administration’s goal for financial reporting,...

Consumer Prices Up 5.3 Percent as Inflation Continues to Surge

(Casey Harper, The Center Square) New federal data released Tuesday showed a continued trend of elevated inflation. The Bureau of Labor Statistics released the Consumer Price Index (CPI), a key marker of inflation, which shows the aggregate price increase in a wide range of goods and services. The price index increased...

SalesForce CEO Says He Will Help Employees Leave Texas to Escape Pro-Life Law

(Headline USA) The CEO of Salesforce said the company will help employees leave Texas, and he did so while retweeting a story linking the offer to concern about Texas' new pro-life law. Salesforce, which sells customer-management software, joins a small number of companies that have reacted against the Texas law. CNBC...

Arizona Divests Its Unilever Bonds over Ben & Jerry’s Israel Move

(Headline USA) Arizona has sold off $93 million in Unilever bonds and plans to sell the remaining $50 million it has invested in the global consumer products company over subsidiary Ben & Jerry's decision to stop selling its ice cream in Israeli-occupied territories, the latest in a series of...

Republicans Urge Businesses to ‘Openly Rebel’ Against Biden Vax Mandate

Republican lawmakers encouraged businesses to stand up to President Joe Biden’s employer vaccine mandate and refuse to comply. Biden unveiled the new rule on Thursday, which requires employers with more than 100 employees to either mandate the coronavirus vaccines or weekly testing for employees who choose not to get vaccinated. Rep....

Inflation Surges an Unprecedented 8.3 Percent in August

(Headline USA) Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010. The Labor Department reported Friday that its producer price index — which measures inflationary pressures before they reach consumers — rose 0.7%...

Black Laborers Sue Farm Operation for Hiring Immigrants Instead of Them

(Headline USA) Six black farmworkers in Mississippi say in a new lawsuit that their former employer brought laborers from South Africa to do the same jobs they were doing, and that the farm has been violating federal law by paying the white immigrants more for the same type of work. Mississippi...
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