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Famed investor Michael Burry delivered arguably his most dire warning about the current US economy to date late Thursday – suggesting he is concerned the ongoing downturn could be worse than the Great Recession. Burry, the boss of Scion Asset Management, noted that one of his market analysts said his comments were “spooky” because he voiced his concerns on Sept. 29 – the anniversary of a 777.68-point drop in the Dow Jones Industrial Average in 2008 that ranked at the time as the largest single-day plunge in history. “Today I wondered aloud if this could be worse than 2008,” Burry...

Wall Street’s massive selloff on Friday plunged the Dow into a bear market as investors appear resigned to the fact that the Fed has abandoned hopes for a “soft landing” and will continue to aggressively raise interest rates to fight inflation — even if it means a deeper recession. The Dow Jones Industrial Average fell more than 700 points, while the S&P 500 dropped nearly 100, shedding 2.65% from its pre-market starting point. The tech-dominated Nasdaq Composite plunged more than 300 points, or 2.75%. The Dow is now 20% off its all-time high — which would officially place it in...

Biden said the United States "is not in a recession," despite Thursday's GDP report, saying it is "no surprise that the economy is slowing down" amid inflation.

As the Federal Reserve announces a rate change, traders work and watch at the New York Stock Exchange in New York, Wednesday, July 27, 2022. Stocks on Wall Street are solidly higher in afternoon trading Wednesday after the Federal Reserve raised its key interest rate by a widely expected three-quarters of a point as the central bank ratchets up its campaign to quell surging inflation. (AP Photo/Seth Wenig) The U.S. economy slumped 0.9% in the second quarter, the Bureau of Economic Analysis reported on Thursday, in one of the most widely anticipated economic releases of the year. “The decrease in...

WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported Thursday in the gross domestic product — the broadest gauge of the economy — followed a 1.6% annual drop from January through March. Consecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession. Even with the economy recording a second straight quarter of negative GDP, many economists do not regard it as constituting a recession.

A New York Times/Siena College poll shows His Fraudulency Joe Biden’s job approval rating at just 33 percent. Biden’s disapproval rating in this corporate media poll is a whopping 60 percent. Forty-five percent of the 849 registered voters polled strongly disapprove of Hunter’s Dad.

Kevin McCarthy, the Republican House minority leader, said something cynical and transparently dishonest the other day. To be fair, that’s sort of an evergreen remark; you could have said the same thing about him just about any week over the past few years. But this particular statement seemed important, because it involved a lie that has a direct bearing on how America will respond to Russia’s invasion of Ukraine. Here’s what McCarthy tweeted: “These are not Putin gas prices. They are President Biden gas prices.” Now, that’s just false. You can argue about how much responsibility Biden’s policies bear for...

The Biden-Harris regime is delighting in the opportunity to pin the blame on Putin’s War - for skyrocketing fuel prices today, and for the food shortages and economic challenges of tomorrow. As the regime’s lies go, we must admit: this one isn’t a lie. Putin’s War has indeed caused the interruption of certain international supply lines. Necessary sanctions against Russia have almost immediately ended the flow of considerable export business that employed countless American workers, and the import bans and duty rate hikes being imposed on Russian products will cause some shortages, from grocery shelves to factory stockrooms. Ukraine was...

While speaking to reporters on Tuesday, Sen. Joe Manchin (D-WV) reacted to the Biden administration reportedly looking to increase energy imports from Iran and Venezuela by calling for a return to prior energy production policies to boost domestic energy production. CNN Chief Congressional Correspondent Manu Raju asked, “So, should the administration ease restrictions on production?”

The U.S. Treasury is reporting a record amount of taxes collected in the first two months of fiscal 2022 (October, November) — $565,135,000,000. The federal government also collected a record $282,094,000,000 in individual income taxes in the first two months of this fiscal year.

Lefties and journalists -- often one in the same, of course -- have been sharing charts on social media purporting to illustrate how much better Joe Biden's first major legislative achievement ('American Rescue Plan') will be for average Americans than Donald Trump's opening foray ('Tax Cuts and Jobs Act'). Because they appear to confirm typical partisan stereotypes designed to reflect poorly on Republicans, these have rocketed around the internet:President Trump's first major economic legislation vs. President Biden's, in @TaxPolicyCenter distributional tables: https://t.co/yq8ZNZM6Cfpic.twitter.com/x0LkoenmgF— Jim Tankersley (@jimtankersley) March 8, 2021The top 20% of households reaped 65% of benefit from Trump’s tax cuts....

Transgender troops Joe Biden signed an executive order this week that makes transgender surgery free for the military. From now on US taxpayers will pay for the medical procedures and surgery for transgender candidates. The operation is not cheap and can add up to $200,000 per patient. No doubt, this will drive more trans men and women into the military. It’s not clear how this helps the military. But, whatever.

Taxpayers will foot the bill for experimental and extremely controversial transgender “treatments” including cross-sex hormones and surgeries that arguably harm healthy bodies in the pursuit of transgender identity. These surgeries, which involve the removal of healthy sexual organs, can cost as much as $200,000. On January 25, President Joe Biden issued an order explicitly championing transgender identity in the military. He reversed former President Donald Trump’s policy, which did not ban transgender Americans from the military but did insist that all service members serve according to their biological sex, not their gender identity. Biden’s order directed the secretary of defense...

The Democrats' $1.9 trillion stimulus bill is a monster of public spending with the prime aim of rewarding political cronies. Free-spending blue cities and states get bailouts, along with unions with mismanaged gold-plated pensions for their members. The losers, of course, are the savers and taxpayers. That's because it won't be long before Argentina-style inflation and Europe-style taxes kick in to pay for these benefits to leftists.The only hope is to grow the economy so that the debt can be paid, which is something Americans often know how to do.But unlike other bills, this one contains a poison pill, to...

Los Angeles Mayor Eric Garcetti described himself as “ecstatic” over the $1.35 billion that the city will receive from the $1.9 trillion “COVID relief” bill passed by Congress on Wednesday and set to be signed into law by President Joe Biden. Coronavirus relief bills have been enacted repeatedly for a year, mostly by President Donald Trump, and often after delays by Democrats, who were reluctant to see Trump take any political credit. The new bill, however, includes payments to cities and states, as well as pension bailouts for unions, and money devoted to long-term “progressive” Democratic Party policies.