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On Wednesday’s broadcast of MSNBC’s “Morning Joe,” Biden Campaign Co-Chair Rep. James Clyburn (D-SC) stated that “401(k)s are not about people’s everyday lives.” And “we’ve got to get” people “to see…that inflation today is about 40% of what it was when Joe Biden took office.” And get people to see “that which is real, not what they may hear on social media.” Clyburn said, “I think that we have to focus on people’s everyday lives. And 401(k)s are not about people’s everyday lives. And I do believe, just from my own observations, from the conversations I’ve had with people, they...

On Monday’s broadcast of NBC’s “Today,” President Joe Biden responded to a question on what he would say to people whose money isn’t going as far due to inflation by saying, “we have the best economy in the world. We’ve got to make it better.” And “we’re going to find out that what happened as a consequence of the crisis we had on health is going to have a lasting effect. We’ve just got to get people to move again. We’re ready. I think the country’s ready to come together…I’m truly optimistic.” Co-host Al Roker asked, “When people are saying,...

President Biden’s reelection campaign bashed former President Trump on Tuesday after he said he hoped the U.S. economy crashed in the next 12 months, arguing he doesn’t care about people. “Donald Trump should just say he doesn’t give a damn about people, because that’s exactly what he’s telling the American people when he says he hopes the economy crashes. In his relentless pursuit of power and retribution, Donald Trump is rooting for a reality where millions of Americans lose their jobs and live with the crushing anxiety of figuring out how to afford basic needs,” campaign manager Julie Chavez Rodriguez...

On Thursday’s “Pod Save America” podcast, Senate Majority Leader Sen. Chuck Schumer (D-NY) stated that people in the middle class “doubt” whether they have a future and that people have negative views of the economy because “people look at the economy six months ago” and it’s “still in their heads today.” Schumer said the messaging strategy for Democrats on the economy is “to focus on what we’re doing. The two things people want the most, our data shows, are, get my costs down. They know that wages are going up. But when the costs go up and eat up the...

Dell Technologies is the latest technology company to announce job cuts, saying Monday that it will be cutting about 5 percent of its workforce, or about 6,600 jobs. According to a Securities and Exchange Commission (SEC) filing, Dell will cut 5 percent of its global workforce to respond to a “challenging global economic environment.” Co-Chief Operating Officer Jeff Clarke said in an email to employees that the company is facing market conditions that “continue to erode with an uncertain future,” which will require restructuring the organization and letting some employees go. “In the coming days and weeks, you’ll begin to...

The day after the midterm elections, I was at a small business client, and of course everyone was talking about the results and how the Democrats had done much better than expected. One woman, Linda, said something that really caught my attention. She said she voted for Lt. Gov. John Fetterman (D-Pa.) because of his stance on abortion. Another person, David, said the same thing and that he was also concerned about some of the more radical Republicans. I heard similar stories from other employees discussing how they voted, ranging from a distrust of former President Trump to concerns about...

,/A>Did Fed Chair Powell just jump straight from ‘denial’ to ‘acceptance’ on his journey through grief at the death of ‘transitory’ inflation? Speaking on MarketPlace Radio this evening, Powell said the central bank has both the tools and resolve to bring down rapid inflation — though he acknowledged that the path to lower price increases could be a painful one. Powell: So you can see that inflation is just way too high here in the United States. And by the way, the same all over the world, really, the global economies all around the world have been hit by a...

Throughout the coronavirus pandemic, Sweden has drawn international attention for its unorthodox approach to managing the virus' spread. The Nordic state didn't impose strict lockdown measures, instead asking citizens to stay home if they were sick and to practice social distancing in public. Bars, restaurants, and shops stayed open, even when cases peaked in the country. Its relaxed coronavirus strategy, relying on personal responsibility and willful obedience, has been both praised and criticized. And while the jury is still out on the effectiveness of the country's public-health approach, there is growing evidence that, economically speaking, the loose rules seem to...

New York Hilton Midtown New York, New York 12:09 P.M. EST THE PRESIDENT: Well, thank you very much, Barbara. So sad that this is live. She said it’s live. (Laughter.) It’s always live. There’s always somebody with a phone. It becomes live. Ask a lot of politicians that are no longer in politics. I want to thank Marie-Josée Kravis for your incredible leadership of the club. It’s an honor to be here. It is wonderful also to be back in New York with so many friends and distinguished leaders in business, in finance, academia, and, I have to add, in...

Although the vast majority of public employees are covered by defined-benefit pension plans, many may need to supplement their pension checks to ensure a comfortable retirement. Teachers, for example, can enhance their retirement security by contributing to a 403(b) plan, a tax-deferred savings plan that's similar to a 401(k). Unfortunately, many 403(b) plans are vastly inferior to their private-sector counterparts as far as investment choices are concerned; primary offerings are usually products such as equity-indexed annuities, which often carry high fees and offer limited market returns

I hate to sound like a broken record, but the Organization for Economic Cooperation and Development (OECD) is once again pushing for bigger and more intrusive in the United States. The international bureaucracy’s “Economic Survey” of the United States reads like it was produced by some interns at the Democratic National Committee.Since the OECD is based in Paris, I suppose it’s not very surprising that it has a statist agenda. But it’s still offensive because American taxpayers finance the biggest portion of the bureaucracy’s budget.In other words, I’m subsidizing the people who are interfering with America’s domestic policy in hopes...

Airbus is beginning construction on a new assembly plant in Mobile that could mean jobs for South Mississippi residents. The groundbreaking ceremony was held Monday morning at the 1,650-acre Brookley Aeroplex industrial park, site for the new plant. The $600 million factory is expected to employ 1,000 people once production of the Airbus A320 jet begins around 2015.

LAS VEGAS (CBS Las Vegas) — A Las Vegas business owner with 114 employees fired 22 workers today, apparently as a direct result of President Obama’s re-election. “David” (he asked to remain anonymous for obvious reasons) told Host Kevin Wall on 100.5 KXNT that “elections have consequences” and that “at the end of the day, I need to survive.” Here’s an excerpt from the interview. Click the audio tab below to hear even more from this compelling conversation: . . . I’m just one guy with 114 employees — well was 114 employees — watch what happens in the next...

Mortgage rates continue to hit new lows, but the ultra-low rates are out of reach for many would-be borrowers who can’t meet strict underwriting standards. And new national data suggests that underwriting standards for getting a loan are getting even stricter, too. FICO credit scores on all new loans closed in August averaged 750. That is nine points higher than one year ago, according to a survey of about 2 million mortgages by Ellie Mae Inc., a mortgage technology firm used by many lenders. For home owners who refinanced in August, the average FICO score was 769—even higher—at Fannie Mae...

The record of President Obama’s first three years in office is in, and nothing that happens now can go back and change that. What that record shows is that President Obama, with his throwback, old-fashioned, 1970s Keynesian economics, has put America through the worst recovery from a recession since the Great Depression. The recession started in December, 2007. Go to the website of the National Bureau of Economic Research (www.nber.org) to see the complete history of America’s recessions. What that history reveals is that before this last recession, since the Great Depression recessions in America have lasted an average of...

Evidence Of A Downtrend In The US Stock Market By Bill Bonner 11/14/11 Paris, France – What happened on Friday? A “moment of truth” arrived for Europe. But what is the truth? We’ll have to wait to find out. The Dow rose 259 points. Gold was up $28. But who cares? Up, down…up, down… Every day brings more ‘truth.’ But what we want is a truth with legs. We’re not day traders. Not week traders. Not even year traders. We want a long, sure…mega trend. We want the Dow at 900 in 1983. Or gold at 260 in 1998. What...

SEATTLE — The financially strapped U.S. Postal Service is proposing to cut its workforce by 20 percent and to withdraw from the federal health and retirement plans because it believes it could provide benefits at a lower cost. The layoffs would be achieved in part by breaking labor agreements, a proposal that drew swift fire from postal unions. The plan would require congressional approval but, if successful, could be precedent-setting, with possible ripple effects throughout government. It would also deliver a major blow to the nation’s labor movement. In a notice informing employees of its proposals — with the headline...

Here's something he said earlier: The topic (in advance of today's phony unemployment numbers) was how to get companies to hire workers. Lots of back & forth. But here is the kicker: Zell mentions that while Obamacare was about to come up for the final, miserable vote he went to Capitol Hill to "lobby" a couple of lawmakers. Reminding them that this kind of bill with so much uncertainty built into it, was guaranteed to put a chill on employment. Here is the exchange he relayed to the host. Zell to lawmaker: This bill gives only 6 years of services,...

Asia-U.S. Shipper Readies Huge Fleet Expansion After Reporting 37% Higher Volumes Vincent Fernando, CFA Mar. 29, 2010, 10:28 AM Neptune Orient Lines, owner of the formerly U.S.-owned APL container shipping company, just reported a sharp 37% jump in container trade volume for February, crediting strength in both Intra-Asia and U.S. - Asia (Transpacific) demand. (Note that higher volume can come from APL taking share, total trade growth will be lower.) The charts below are from NOL's release.[snip]

Target Corp. retooled a training video to warn workers against a bill that would make union organizing easier. Michaels Stores Inc. told investors “our businesses could be impacted” by the measure. Enrollment in Jackson Lewis LLP’s “How to Stay Union-Free” seminars tripled. Companies are rallying to fend off a so-called card-check law sought by labor leaders and backed by President Barack Obama. While the bill stalled in Congress this year as health- care legislation dominated debate, anti-union groups say they expect the president and Democrats to deliver next year on a compromise version of the legislation. “As we approach the...