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Keyword: economy

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  • Over 1,300 layoffs hit logistics companies across US

    04/14/2024 2:43:53 PM PDT · by CFW · 20 replies
    FreightWaves ^ | 4/11/24 | Noi Mahoney
    Layoffs continue across the freight and logistics industry, with companies in Florida, Georgia, Illinois, Michigan and Texas announcing job reductions and facility closures over the past two weeks. Universal Logistics Warren, Michigian-based Universal Logistics is permanently shuttering two of its subsidiaries and laying off a total of 677 employees, according to notices recently filed with the state. The layoffs are related to Universal-operated entities Logistics Insights Corp. and Universal Dedicated of Detroit, an auto parts warehousing and logistics facility. Both operations were in Detroit. Universal Dedicated of Detroit’s closure will affect 230 truck drivers who worked from the facility. Logistics...
  • America’s largest water district raising rates 40%, says conservation cut revenue

    04/14/2024 4:08:35 AM PDT · by Sam77 · 19 replies
    Just The News ^ | 14 APRIL 2024 | Kenneth Schrupp
    America’s largest water district says declining revenues due to increased water conservation are forcing the agency to significantly raise water rates to remain solvent. The Metropolitan Water District of Southern California, which supplies water for 19 million Americans, is raising its rates 8.5% in 2025 and another 8.5% over baseline levels in 2026. The district’s projections include raising rates an additional 11.5% in 2027 and another 11.5% in 2028 to finance an $8.2 billion water recycling plant that could provide enough annual water for 1.5 million people.
  • Americans fear the end: Economic collapse looms largest on the nation’s mind, and that’s bad news for Biden

    04/14/2024 4:26:10 AM PDT · by RomanSoldier19 · 36 replies
    Fortune via msn ^ | 4/13/24 | Chloe Berger
    Between earthquakes popping up in unusual places, murder hornets making a brief debut a couple years ago (remember those?) and the price of a Trader Joe’s banana rising for the first time in decades, the world seems to be increasingly unpredictable. Much like a Mentos mint popped into a Coke bottle, the pressure is bubbling and potentially set to burst. But the prime fear among doomsday preppers is less out-of-this-world, like an alien invasion or zombie apocalypse; rather, it takes place on Wall Street’s doorstep. A third (33%) of Americans fear the end of the U.S. will be the result...
  • The Alligator People! The Fed Is Reporting Billions in Losses Weekly And Still Paying High Interest Income To The Mega Banks on Wall Street (As Biden Recklessly Transfers Student Loans To Taxpayers)

    04/13/2024 4:38:01 AM PDT · by Kaiser8408a · 5 replies
    Confounded Interest ^ | 04/13/2024 | Anthony B. Sanders
    Joe Biden, his Administration, and The Federal Reserve are really “The Alligator People.” Despite what they tell you, they have small brains (particularly Biden) and are hyperfocused on spending. A good example comes from “Wall Street On Parade” where they show that The Federal Reserve is still paying BILLIONS to US Treasury in the form of remittances (losses). While at the same time, paying the mega banks on Wall Street high interest loans. As of April 3 of this year, the Federal Reserve (Fed) has racked up $161 billion in accumulated losses. We’re not talking about unrealized losses on the...
  • Bidenflation Soars To 18.8%, Squeezing Americans

    04/13/2024 8:42:26 AM PDT · by CFW · 13 replies
    Tippinsights ^ | 4/13/24 | Editorial Board
    We are in an election year. President Biden, a seasoned politician, has failed miserably in tackling inflation and is now attempting to shift blame for "Bidenflation" onto Trump, a move even noted by The New York Times, which dubbed it Biden's Plan B. Commenting on the latest CPI release, President Biden said: We’re better situated than we were when we took office where we— inflation was skyrocketing. And we have a plan to deal with it, whereas the opposition — my opposition talks about two things. They just want to cut taxes for the wealthy and raise taxes on other...
  • Top Economists Including Barack Obama’s Treasury Secretary Discover the Real Inflation Number Under Biden Reached 18% and Is Still Hovering at a 40-Year High

    04/12/2024 8:23:52 AM PDT · by Red Badger · 33 replies
    Gateway Pundit ^ | 12 Apr 2024 | Staff
    A recent research paper by four noted economists, including Larry Summers, the former Treasury Secretary under Barack Obama and former Harvard President, discovered that the real inflation rate during the Biden years, using pre-1983 calculations reached 18% in 2022. The number is the highest inflation rate the country has seen in over 50 years. This research project was published by these four authors at the nonpartisan National Bureau of Economic Research in late February and is just now making waves. Marijn A. Bolhuis is an economist in the Macro Policy division of the International Monetary Fund’s Strategy, Policy, and Review...
  • BUZZKILL! Paul Krugman Claimed 'Wave of Inflation' Seems to 'Have Broken’ Day Before Hot BLS Report

    04/12/2024 9:06:41 AM PDT · by JV3MRC · 18 replies
    NewsBusters ^ | 4/12/2024 | Joseph Vazquez
    The New York Times economics parody writer Pauk Krugman — because that’s all he’s been reduced to now — can’t seem to avoid sleepwalking his way into huge, unforced errors. In another Apr. 9 column praising President Joe Biden’s alleged “Goldilocks” economy, Krugman was adamant that “while there was a wave of inflation, it seems to have broken.” Yes, Krugman wrote this just a day before the Bureau of Labor Statistics released its Apr. 10 report showing that consumer prices spiked hotter than expected at 3.5 percent year-over-year and 0.4 percent month-over-month. CNBC analyzed that core consumer prices (excluding food...
  • It is very hard to believe the government about anything, especially economic statistics

    04/11/2024 9:04:49 PM PDT · by SeekAndFind · 16 replies
    American Thinker ^ | 04/11/24 | Jack Hellner
    On Wednesday, the government put out disappointing inflation statistics that show that inflation has accelerated to four-tenths of a percent last month. But that number seems unrealistically low to me. In the numbers, bureaucrats claimed that gasoline prices only went up 1.7% last month, which would be only five cents per gallon. On the New York mercantile exchange, gasoline has risen from around $2.10 per gallon in early January to around $2.75 on March 31st; that is up 30% in three months. Crude oil has risen from around $72 at the end of the year, to $83 at the end...
  • A Sudden Gas Price Hike?

    04/11/2024 6:33:05 PM PDT · by jimjohn · 60 replies
    Self | jimjohn
    Reporting from Western New York: gas price at my local gas station jumped $0.13 in the last 24 hours. I've never seen a hike that fast. Is anyone else seeing the same thing? I already see gold prices shooting up. Is this gas price? Starting to catch up to it now?
  • Abortion Is NOT a Top Issue for U.S. Voters. Dems Are Distracting You

    04/11/2024 7:21:34 AM PDT · by SeekAndFind · 27 replies
    PJ Media ^ | 04/11/24 | Catherine Salgado
    Shut out the Democrat noise and stop believing the mainstream media narrative. Multiple polls and data sets have emphasized that abortion is not one of the top issues for most voters in the upcoming 2024 election, not by a long shot. Democrats are distracting from other issues by going hysterical about abortion. The Democrats have so successfully screeched their heads off about abortion that even many Republicans now think that a significant percentage of voters will have abortion at the forefront of their minds in November. This is simply not true. Not only is there absolutely no moral justification for...
  • Nolte: Bidenomics Drives Credit Card Delinquencies to Record High

    04/11/2024 7:55:59 AM PDT · by ChicagoConservative27 · 14 replies
    Breitbart ^ | 04/11/2024 | John Nolte
    Delinquency rates among American credit card holders are at an all-time high, while at the same time a record number of “active accounts” have “a balance of over $2,000,” according to a Federal Reserve Bank of Philadelphia report. We’re more than three years into the Biden presidency, so we all know where the blame lies. More from Bloomberg: Almost 3.5% of card balances were at least 30 days past due as of the end of December, the Philadelphia Fed said. That’s the highest figure in the data series going back to 2012, and up by about 30 basis points from...
  • Nolte: Democrat-Run St. Louis Enters ‘Doom Loop’

    04/11/2024 9:43:34 AM PDT · by ChicagoConservative27 · 35 replies
    Breitbart ^ | 04/11/2024 | JOHN NOLTE
    “The office district is empty, with boarded up towers, copper thieves, and failing retail,” reports the Wall Street Journal of Democrat-run St. Louis, Missouri. “[E]ven the Panera outlet shut down. The city is desperately trying to reverse the ‘doom loop.’” Let’s look at the mayoral history of the doom-looping St. Louis, shall we? Oh, look, there hasn’t been a Republican mayor in St. Louis since — not a typo — 1949. For 75 years, the people of St. Louis have voted for More of the Same, so excuse me if I don’t whip out a violin over all this unavoidable...
  • Bridgewater’s Bob Prince says Fed rate-cutting hopes are ‘off track’

    04/10/2024 6:23:05 AM PDT · by Red Badger
    Financial Times ^ | April 09, 2024 | Kate Duguid
    Influential investor says US inflation and growth are not at levels where interest rates can fall Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of T&Cs and Copyright Policy. Email to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at Persistent inflation and hot US growth have left the Federal Reserve’s rate-cutting hopes “off track”, Bridgewater’s Bob Prince said on Tuesday, adding...
  • Funky Cold Joe Biden! Inflation Comes In HOT For 4th Consectutive Print (Core Inflation Hotter Than Expected At 3.8% YoY)

    04/10/2024 11:57:22 AM PDT · by Kaiser8408a · 8 replies
    Confounded Interest ^ | 04/10/2024 | Anthony B. Sanders
    Funky cold Joe Biden is his reaction to inflation caused by his outragous spending. His legion of sycophants are now saying inflation is a good thing or don’t notice it. But Biden will never stop spending . Coming into today’s CPI number, which followed three previous red-hot inflation prints, we said that it’s time for a “miss” (the first of 2024) not because the data demands it – on the contrary, prices continue to rise at a frightening pace – but because a dovish CPI print today would be the last opportunity for the Fed to set a timetable for...
  • Hot US economy dampens hope for rate cuts

    04/10/2024 11:12:52 AM PDT · by ChicagoConservative27 · 10 replies
    The Hill ^ | 04/18/2024 | TOBIAS BURNS
    Economic data across multiple metrics is coming in hot, showing the strength of the U.S. economy and the persistence of inflation in the last mile of its descent down to the Federal Reserve’s target rate of 2 percent. A March uptick in the consumer price index (CPI) to an annual 3.5-percent increase could push interest rate cuts back from their predicted start date in June. The CME FedWatch forecasting algorithm put the probability of a June cut at just 21 percent Wednesday morning. The algorithm has higher odds for a cut than a pause at the rate’s current range of...
  • America’s Top Bank CEO Warns Biden’s Inflation Crisis Not Over

    04/10/2024 6:56:10 AM PDT · by Twotone · 9 replies
    The Daily Wire ^ | April 8, 2024 | Ryan Saavedra
    Jamie Dimon, the CEO of JPMorgan Chase, issued a sober warning for the U.S. economy in his annual letter to investors this week. Dimon pointed to wars breaking out in Europe, the Middle East, and growing tensions with China as major drivers to economic uncertainty which have helped fuel “higher energy and food prices, inflation rates and volatile markets.” The crises on the foreign policy front are largely a reflection of President Joe Biden’s weakness on the world stage as America’s adversaries have felt that they have more latitude in what they are able to get away with under the...
  • Biden Shouts Incoherently When Interrupted by Heckler, Claims He's Cut Deficit by $1 Trillion

    04/09/2024 8:25:16 PM PDT · by SeekAndFind · 22 replies
    Red State ^ | 04/09/2024 | Bob Hoge
    President Biden was at it again Tuesday, telling tall tales and shouting gibberish. He was speaking at Union Station in Washington, D.C. on the care economy—described by the United Nations as including “paid (employed in the formal and informal sectors) and unpaid work through which care is provided for others”—when he was interrupted by a heckler. The president angrily responded, “Well, I’ll tell you what…you wanna come make a speech or shush up, okay?” Then he took a look at the protester and thought better of it because, evidently, the guy looked tough. “I’m not messing around with him!” Biden...
  • Here’s Why Nobody Believes Biden On The Economy Anymore

    04/09/2024 12:44:07 AM PDT · by CFW · 25 replies
    IssuesinInsights ^ | 4/9/24 | Editorial Board
    Friday’s jobs report has everyone excited. Everyone, that is, who is pulling for Joe Biden to win reelection. Outside that blinkered lot, the pain of Bidenomics is still very real. “Today’s report marks a milestone in America’s comeback,” he said. “Three years ago, I inherited an economy on the brink” – a lie we’ve repeatedly exposed – “With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office” – another lie; as we noted last week, the economy has created only 5 million net new jobs under Biden,...
  • Yellen on if Inflation Will Hit 2% This Year: It’ll Fall, ‘Can’ ‘Get Into the Twos’

    04/08/2024 7:13:35 PM PDT · by ChicagoConservative27 · 30 replies
    Breitbart ^ | 04/08/2024 | Ian hatchett
    During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen responded to a question on whether she is confident that inflation will hit the target rate of 2% by stating that she expects that inflation “will continue to come down over time.” And “we can certainly get into the twos.” Yellen also stated that “we’ve had generally good news on inflation.” CNBC host Sara Eisen asked, “You’re still confident we can get to 2% this year? We’ve seen a little bit of a flare-up so far this year.”
  • Yellen: There’s ‘More Distress’ in Low-Income Households, But Households ‘Generally’ in ‘Very Good’ Shape

    04/08/2024 7:17:13 PM PDT · by ChicagoConservative27 · 45 replies
    Breitbart ^ | 04/08/2024 | Ian hatchett
    During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen said that “Some low-income consumers are perhaps exhausting their buffers of saving[s] that they built up during the pandemic, we’re seeing a little bit more distress at the household level there.” But despite that, “we’ve got a good, strong economy” with “very strong domestic demand” that is “on a solid track” and “generally, households are in very good financial shape.” CNBC host Sara Eisen said, “I guess I’m just wondering if the economy continues to hold up, no matter what happens on the Fed.”