Monday, May 12, 2025

FINANCE

POLL: 1.8M People Didn’t Return to Work Because of Generous Welfare Benefits

(Brad Polumbo, Foundation for Economic Education) Here are FEE, we predicted from the beginning of the pandemic that Congress’s decision to create an unemployment benefits system paying most individuals more on welfare than they earned by working would backfire. We weren’t the only ones. The nonpartisan Congressional Budget Office similarly cautioned that...

Wholesale Inflation over Past Year Jumps by Record Amount

(Headline USA) Inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%. The Labor Department reported Wednesday that the June increase in its producer price index, which measures inflation pressures before they reach consumers, followed a gain of 0.8%...

INFLATION: US Consumer Prices Surge in June by the Most Since 2008

(Headline USA) Prices for U.S. consumers jumped in June by the most in 13 years, signaling that a swift rebound in spending has run up against widespread supply shortages that have escalated the costs of many goods and services. Tuesday's report from the Labor Department showed that consumer prices in June...

Bank of International Settlements Chief Talks ‘Absolute Control’

(Clint Siegner, Money Metals News Service) The General Manager for the Bank of International Settlements – the central bank of central bankers – is planning for “absolute control” of the money we all spend. Agustin Carstens recently gave a talk entitled “Cross Border Payment: A Vision for the Future” in which...

Elon Musk to Testify Before Court About Tesla’s Acquisition of Solar Company

(Headline USA) In the runup to Tesla Inc.'s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a "no brainer" — a purchase that would combine the leading maker of electric vehicles with a manufacturer of solar panels that can recharge EVs. It didn't exactly work...

Pelosi’s Husband Invested $11M in Big Tech as House Drafted Fake Antitrust Bills

The husband of House Speaker Nancy Pelosi, D-Calif., reaped $5.3 million in profit by doubling down on Big Tech as several potentially trust-busting bills were winding their way through the House. In May and June, a legislative package known as the Ending Platform Monopolies Act threatened to put the screws...

Toyota Caves to Twitter Mob & Lincoln Project; Halts Donations to Election Objectors

(Headline USA) Toyota has reversed itself and now says its political action committee will no longer contribute to the Republican legislators who voted against certifying Joe Biden's presidential election victory. The move by the Japanese automaker comes after a social media backlash over the contributions, including threats to stop buying the...

Newly Woke Chamber of Commerce Teams w/ Labor Unions to Push Biden ‘Infrastructure’

(Headline USA) Major business and union groups have formed a new coalition designed to add momentum for a $1.2 trillion infrastructure package that the Senate is expected to take up this month. The U.S. Chamber of Commerce and the AFL-CIO, along with trade groups representing manufacturers and retailers, announced the...

Bezos Supported Higher Taxes as He Lobbied for Breaks for Amazon

While Amazon oligarch Jeff Bezos called upon Washington D.C. to impose higher taxes on other corporations, his flagship company tried to keep its own tax breaks in place according to Politico. Bezos, who also owns the left-wing Washington Post, basked in progressive attention earlier this year for publicly supporting the...

Californians Seeking Escape Cause Home Prices in Other States to Skyrocket

(Cole Lauterbach, The Center Square) A popular gripe about Californians moving into nearby states is they bring their politics with them. The newest complaint could be they’re bringing high home prices as well. Property data provider CoreLogic released its monthly Home Price Index on Tuesday, reflecting May values. It showed home prices in...

Texas Supreme Court: Facebook Can Be Held Liable for Sex Traffickers Who Use Its Platform

(Bethany Blankley, The Center Square) After three Houston-area lawsuits were filed against Facebook alleging sex traffickers used its platform to commit crimes, Facebook asked the Texas Supreme Court to intervene. In response, the highest court in Texas ruled that Facebook could be held liable for sex traffickers using its platform, arguing...

AAA: Gas Prices Expected to Increase EVEN MORE Through August

The American Automobile Association warned that gas prices, already up 40% since the start of the year, will continue to climb this summer, reaching as high as $3.25 on average nationwide by the end of August. “Robust gasoline demand and more expensive crude oil prices are pushing gas prices higher,”...
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