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Keyword: economy

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  • New York state is ranked the WORST in the country for economic outlook, study finds, as businesses begin to flee amid fears it will take years to recover from the pandemic and widespread protests

    08/14/2020 8:02:46 PM PDT · by SeekAndFind · 25 replies
    Daily Mail ^ | 08/14/2020 | Harriet Alexander
    New York has the worst economic outlook of any state in the US, according to a recent ranking that comes as thousands flee the Big Apple amid escalating crime and chaos. The American Legislative Exchange Council (ALEC) published its 13th annual Rich States, Poor States ranking on Wednesday. The researchers looked at issues such as taxation and the economic competitiveness of the state. The economic outlook rating state gross domestic product, absolute domestic migration and non-farm payroll employment. Utah, for the 13th year running, was top of the ranking and New York, for the sixth year in a row, was...
  • Sweden Hits COVID-19 “Triple Whammy”: No Lockdowns, Low Deaths & Minimal Economic Damage

    08/14/2020 7:13:50 AM PDT · by SeekAndFind · 22 replies
    USAA NEWS ^ | 08/14/2020 | Tyler Durden
    Perhaps the biggest example of the Western media's inherent biases surrounding its coverage of Sweden's approach to tackling COVID-19. Plenty of media outlets decried the country's "massive" fatality rate compared to its lockdown-favoring neighbors, but failed to add the context necessary to see that the difference was only a couple thousand deaths, and that Sweden's per capita mortality rate was still lower than Britain's, and other countries that favored lockdowns. When Anders Tegnell, the architect of Sweden's strategy, said during an interview that he would have done things "differently" if given a second chance, the Western press, including the...
  • When Puff the Magic Multiplier Goes Poof

    08/13/2020 7:32:11 AM PDT · by Kaslin · 7 replies ^ | August 13, 2020 | Veronique De Rugy
    When revenue shrinks by 1% of GDP and spending increases by 51% over 10 months, you get a $2.8 trillion deficit. That figure, according to the Congressional Budget Office, is significantly larger than the deficit Uncle Sam accumulated over the first 10 months of 2019. Yet, many in Congress demand that even more spending be enacted in the name of stimulating the economy. More spending means more debt and more future taxes. That much we know. What we also know is that the calls for sustained spending -- in the form of unemployment checks, individual stimulus checks, small-business grants and...
  • UK crashes into deepest recession of any major economy

    08/12/2020 1:19:03 AM PDT · by Berlin_Freeper · 9 replies ^ | August 12, 2020 | Chris Liakos and Mark Thompson
    UK economic output shrank by 20.4% in the second quarter of 2020, the worst quarterly slump on record, pushing the country into the deepest recession of any major global economy.
  • Retail Chains Abandon Manhattan: ‘It’s Unsustainable’

    08/11/2020 3:26:31 PM PDT · by Mount Athos · 151 replies
    New York Times ^ | Aug. 11, 2020 | Matthew Haag and Patrick McGeehan
    In the heart of Manhattan, national chains including J.C. Penney, Kate Spade, Subway and Le Pain Quotidien have shuttered branches for good. Many other large brands, like Victoria’s Secret and the Gap, have kept their high-profile locations closed in Manhattan, while reopening in other states. Michael Weinstein, the chief executive of Ark Restaurants, said he will never open another restaurant in New York. Of Ark Restaurants’ five Manhattan restaurants, only two have reopened, while its properties in Florida — where the virus is far worse — have expanded outdoor seating with tents and tables into their parking lots, serving almost...
  • Coins Shortages & the Dangers of a Cashless Society

    08/11/2020 3:46:01 PM PDT · by dmam2011 · 55 replies
    Clarksvillian Underground ^ | July 14, 2020 | Dave McGuire
    (CU News) - It’s become a standard at nearly every gas station, in my area, to request exact change for purchases. The coronavirus crisis has apparently sparked this nationwide coin shortage that has left retailers pleading for exact change. It didn’t take too long for the conspiracy theories to begin the rounds in both the virtual and real worlds. I first began hearing comments and receiving emails about the change shortage issue conspiracies several weeks ago. At the time, I just placed them to the side and grinned. Can they really be true? After spending some time, it did not...
  • Trump Taps Esteemed Anti-Fauci Stanford Doc for COVID Team – Huge Game Changer

    08/11/2020 9:32:29 AM PDT · by Michal T · 29 replies
    RedState ^ | August 11, 2020 | Michael Thau
    Latest RedState Column explaining who Dr. Scott Atlas is and why Trump's announcement that he's now part of his COVID-19 team is such great news.
  • Trump 'seriously' considering a capital gains tax cut: What that means for you

    08/11/2020 7:58:47 AM PDT · by SeekAndFind · 18 replies
    Fox Business News ^ | 08/11/2020 | By Megan Henney
    President Trump opened the door this week to a capital gains tax cut, saying he's "seriously" considering it as a way to help the U.S. economy recover from coronavirus-induced recession. “We’re looking at also considering a capital gains tax cut, which would create a lot more jobs,” Trump said Monday during White House press briefing. “So we're looking very seriously at a capital gains tax cut and also at an income tax cut for middle-income families." Trump cannot use executive authority to slash the 20% long-term capital gains rate without Congress, but he could try to bypass Congress and lower...
  • Without 'Much More Aggressive Shutdowns,' The New York Times Warns, COVID-19 Could Kill 'Well Over a Million' Americans

    08/11/2020 7:31:46 AM PDT · by ChicagoConservative27 · 61 replies
    reason ^ | 08/10/2020 | JACOB SULLUM |
    Without "much more aggressive shutdowns," a New York Times editorial warns, "well over a million" Americans "may ultimately die" from COVID-19. The paper does not cite a source for that estimate, which seems highly implausible based on the death toll so far, projections for the next few months, the gap between total infections and confirmed cases, and a crude case fatality rate that continues to fall. Independent data scientist Youyang Gu, who has a good track record of predicting COVID-19 fatalities, is currently projecting about 231,000 deaths in the United States by November 1. The University of Washington's Institute for...
  • Federal Government Sent Workers Nearly $250 Billion in $600-a-Week Jobless Aid

    08/11/2020 6:51:12 AM PDT · by Theoria · 4 replies
    The Wall Street Journal ^ | 10 August 2020 | Eric Morath
    Michigan, New York received most benefits per worker under program that expired July 31, Wall Street Journal analysis shows The federal government spent nearly $250 billion on extra $600-a-week unemployment benefits from early April to the end of July, the Labor Department said, as millions of workers were laid off because of the coronavirus pandemic. Workers who permanently lost their jobs, were furloughed or had their hours cut were able to tap $600 in federal unemployment benefits on top of the amount they qualified for from the state, under a relief law Congress passed and President Trump signed in March....
  • New Study Finds Sweden’s Refusal To Lock Down Saved The Economy Without Sacrificing Lives

    08/10/2020 7:17:05 AM PDT · by ChicagoConservative27 · 17 replies
    thefederalist ^ | 08/10/2020 | Sumantra Maitra
    To prove a study isn’t suffering from selection bias, one of the best methods is to find cases or studies with similar precepts that show different results. When conclusions and expertise are constantly challenged by counter-conclusions and counter-expertise, the better the investigative process becomes, and everyone benefits with a better-refined outcome. In studying different results of similar assumptions, we have a better chance of isolating and understanding causal variables. After five months of a total collapse of social life under forced quarantines, if we are indeed facing a second wave with no vaccines yet, it’s time to declare that Sweden’s...
  • The Year May Be A Shambles But Dinner Shall Triumph

    08/10/2020 5:55:05 AM PDT · by NOBO2012 · 4 replies
    MOTUS A.D. ^ | 8-10-20 | MOTUS
    You know what we could really use? One of these… only for 2020. Absent that I think I’ll just try to squeeze everything I can out of what’s left of summer. I’ll start with some juicy tomatoes of all colors, size, shape and stripes because that’s just the way I am: completely onboard with diversity. Combined with some zucchini, sausage,halloumi and a few other ingredients the tomatoes will turn out a fine dinner for you. Summer tomato and zucchini halloumi bake  Serve warm, topped with fresh basil and toast for dipping. The spinach is optional and you can sub fresh...
  • Fed’s Kashkari advocates six-week economic lockdown to defeat the coronavirus

    08/09/2020 4:26:26 AM PDT · by zeestephen · 75 replies
    CNBC ^ | 08 August 2020 | Jeff Cox
    Minneapolis Fed President Neel Kashkari is advocating a full economic shutdown for up to six weeks to halt the Covid-19 spread...In a Friday New York Times op-ed he authored with Michael T. Osterholm of the University of Minnesota, Kashkari said the initial March lockdown didn’t go far enough..."To be effective, the lockdown has to be as comprehensive and strict as possible," Kashkari and Osterholm wrote.
  • Trump Lays Out 6 Promises For America In His Second Term

    08/07/2020 6:44:36 PM PDT · by SeekAndFind · 60 replies
    The Federalist ^ | 08/07/2020 | David Marcus
    On a trip to Ohio this week, President Trump laid out six priorities for his second term, aiming to restore the high-powered economy that his administration created only to see devastated by the Chinese coronavirus and ensuing lockdowns. Together, these promises show a laser focus on defeating the virus and creating jobs and opportunity for all Americans.Trump has been criticized as of late by the corporate media for spending too much time attacking his opponent Joe Biden and not enough time outlining what his goals are for the next four years. This detailed plan should put such concerns to bed...
  • The Coming Economic Miracle

    08/06/2020 8:05:40 AM PDT · by RobaWho · 56 replies
    @RealCuriousDawg on Parler ^ | August 6, 2020 | CuriousDawg
    America, the Central Bank is dead. There is ZERO chance $30+ trillion in fiat debt will ever be repaid with more fiat dollars. We’re in technical default. And President Trump knows this. The Solution? US Treasury Notes issued by our US Treasury will soon replace the fraudulent, 98% devalued Federal Reserve debt contracts (dollars). America’s soon to be, newly issued, asset back currency and our revitalized “America First” economy will reverse Bretton Woods and the Federal Reserve‘s death grip will officially be removed from America‘s throat. Every new US Treasury note will equate to an inflated number of current fiat...
  • WATCH: President Trump Assures US That ‘We’re Not Shutting Down’ Economy Again

    08/05/2020 2:07:53 PM PDT · by JV3MRC · 10 replies
    NewsBusters ^ | 8/5/2020 | Joseph Vazquez
    President Donald Trump joined Fox Business host Lou Dobbs to slap back at the suggestion by some that the economy should be shut down again over the coronavirus.
  • Just saying, gold just went over $2,000 / ounce

    08/04/2020 9:20:41 AM PDT · by cba123 · 35 replies
    Just noticed a bit of a jump in metals. Any reason, that anyone is aware of? They are all up at the moment. Somewhat interesting, anyway. Gold is up more than $20 now. It was around here before, around a week ago. That time it plunged, right back down. What will happen this time?
  • Europeans Are Waking Up to Government Covid Tyranny. Why Are We Still Asleep?

    08/03/2020 7:32:14 PM PDT · by george76 · 25 replies
    The New American Magazine ^ | 03 August 2020 | Ron Paul
    Tens of thousands of Germans marched through Berlin on Saturday, proclaiming a “Day of Freedom” and demanding an end to government-mandated face masks and “social distancing.” The UK and Netherlands also saw large protests against their governments’ tyrannical actions in response to the coronavirus outbreak. ... Europeans are realizing that their government-mandated lockdowns did little or nothing to protect them from the virus, while causing economic catastrophe ... Sweden, which never locked down its economy, rejected face masks, and kept its restaurants and other places of business open, did not fare any worse than the countries that have been turned...
  • Plunge in Investment, Production, and Consumption Requires Smart Reopening, Not More ‘Stimulus’

    08/03/2020 1:26:32 PM PDT · by Tolerance Sucks Rocks · 10 replies
    The Daily Signal ^ | July 31, 2020 | Joel Griffith
    This week’s gross domestic product report painted a stark picture; namely, a historic plunge in the production of goods, provision of services, and private investment. The nation’s economy shrank at a 32.9% annualized rate. That marks an actual decline of 9.5% from earlier this year. Meanwhile, massive government transfer payments funded by borrowing and printing of money caused disposable personal income to soar at a 42.1% annual clip despite the loss of more than 24 million jobs accompanying this economic contraction. The data bear out the everyday experience of millions of Americans. Government-mandated closures and people responding to what they...
  • Face the Nation Fails to Probe Fed Official on INSANE Six-Week Lockdown Idea

    08/03/2020 9:59:00 AM PDT · by JV3MRC · 12 replies
    NewsBusters ^ | 8/3/2020 | Joseph Vazquez
    The localized lockdowns weren’t bad enough. Fill-in host and former Face the Nation anchor John Dickerson failed to push back on Minneapolis Federal Reserve Bank President Neel Kashkari’s proposal that the entire country go into a month-long national economic shutdown. GDP fell 9.5 percent in the second quarter, and at least “30 million” are unemployed, in-part due to the lockdowns and stay-at-home orders imposed by states. Apparently those factors weren’t significant enough for Dickerson to push back on a proposal for a national economic lockdown.