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MIAMI — President Trump said Monday that he’s brought prices down so much that Democrats have stopped using the word “affordability.” “They also gave us very high prices and then they said the word, ‘affordability.’ That’s first time I ever heard it,” Trump said at the annual House Republican retreat in Miami. “My first day in office, they said, ‘affordability,’ They’re the ones that caused the problem,” he continued. “But we’re really bringing down prices big. “Do you notice you don’t hear that word anymore? … They don’t say it anymore because we brought down prices so much.” Trump said...

https://x.com/jayblackisfunny/status/2031479216647094640Jay Black@jayblackisfunny5hPete Hegseth spent $100,000 on a piano, $2 million on Alaskan King Crab, $7 million on lobster tail, $15 million on steak, $120,000 on ice cream machines, and $12,000 on fruit basket stands… JUST IN SEPTEMBER! (But, tell me again how Somali day care centers are the problem.)@amuse@amuse36m@grok did Pete by a $100K piano? $2M on crabs? $15M on steaks? $120K on ice cream? And $12K on fruit? All in September?Grok@grok35mNo, Secretary Hegseth didn't personally buy these. Per OpenTheBooks analysis of DoD data, these were Pentagon-wide contracts in Sept 2025 (end of fiscal year "use-it-or-lose-it" spending spike to $93B...

The Senate will today debate the 21st Century ROAD to Housing Act. Buried in the sprawling legislation is a section reportedly written by Sen. Elizabeth Warren titled “Homes Are for People, Not Corporations.” It has the backing of the White House and broad support in the Senate. The idea sounds politically appealing. In practice, it could sow the seeds of the next housing crash. The provision targets large institutional investors that own single-family rental homes. It effectively blocks investors that own more than 350 homes from buying additional single-family houses except under narrow circumstances. Even those purchases must generally be...

U.S. Sen. Cory Booker (D-N.J.) announced legislation on Monday to eliminate federal income taxes on the first $75,000 of income. The ‘Keep Your Pay Act’ would raise the standard deduction to $75,000 for married couples filing jointly, with proportional amounts for single filers and heads of household. The measure would cut federal income tax on the median American family by an estimated 85%. “New Jerseyans are working harder than ever, but they’re struggling to get by because they’re facing out-of-control costs and an economy that is stacked against them — so we need big ideas to start making the American...

The Facts Are This A week ago Sunday March 1st the price of gasoline at Sam's Club here in York, Pennsylvania 273.9 today Sunday March 8th the price is 319.9. Up 46 cents or 16.8 percent but as... The War Update Edwin Starr sings the classic song "War"... War seems bad for China and good for Russia. Oil producers like Russia are enriched with revenue. Its bad for Europe and the USA especially in terms of inflation. Higher oil prices will trickle down into the price of all products based on petroleum... In 1979 it was "America Held Hostage" in...

Iran has threatened to attack any oil tanker passing through the Strait of Hormuz, through which 20% of the world’s oil transits. US oil futures rose 18% to about $108 a barrel, their highest level since July 19, 2022. Brent futures, the global benchmark, increased 16%, near $108 a barrel. Surging oil prices have weighed heavily on stocks in recent days, as traders fear that a prolonged spike in fuel prices could lead to another spike in inflation and hurt the economy. Dow futures dropped more than 800 points, or 1.7%. S&P 500 and Nasdaq futures fell 1.6%. Triggered by...

Gas prices will dip below $3 a gallon “again before too long,” Energy Secretary Chris Wright promised Sunday — as he denied the US was targeting energy infrastructure in Iran. “The Trump administration has been all in on lowering energy prices, and I would say quite successfully,” Wright told CNN’s “State of the Union” on Sunday. “We have seen a dramatic decline in gasoline prices, in diesel prices. Soon, you will see it in electricity prices as well.” The national gas price average is $3.45 a gallon as of Sunday, per the American Automobile Association. It was just below $3...

President Donald Trump met Friday afternoon with CEOs of major defense industry companies at the White House as the war against Iran ended its first full week.After the meeting, Trump said in a social media post that “we discussed Production and Production Schedules” and “they have agreed to quadruple Production of the ‘Exquisite Class’ Weaponry in that we want to reach, as rapidly as possible, the highest levels of quantity.”Trump did not explain what he meant by “Exquisite Class Weaponry.” The term is used in the defense industry to describe one-of-a-kind technology or systems.Trump said the meeting included CEOs of...

The Supreme Court struck down the majority of President Trump’s “Liberation Day” tariffs in February, and Sen. Elizabeth Warren isn’t letting the Administration weasel out of paying back American taxpayers. “If your Administration is successful in its campaign to avoid paying back illegally collected tariffs, it would amount to a theft in broad daylight from each and every American family that has paid the price of your failed economic agenda,” Warren said in a Wednesday statement. Per her office’s estimates, the tariffs have cost families about $1,700 each. The Supreme Court on February 20 ruled against the tariffs 6-3, arguing...

A widening Middle East conflict has posed a fresh test for global central banks, as fears of an oil shock and renewed inflation risks complicate policymakers’ calculus for shoring up growth. Crude prices soared on Monday after the U.S. and Israel launched strikes on Iran over the weekend, killing Iranian Supreme Leader Ali Hosseini Khamenei. Tehran responded with missile attacks targeting multiple Gulf countries. Tanker traffic through the Strait of Hormuz, the world’s most critical chokepoint for oil shipments, has effectively stalled as the threat of attacks from Iran deterred vessels from passing through the waterway. Brent crude prices extended...

Donald Trump's chief of staff Susie Wiles is demanding action to bring gas prices down as the war with Iran sends oil skyrocketing, sources have revealed. Energy Secretary Chris Wright and other top officials, including a council led by Interior Secretary Doug Burgum, 'are getting screamed at to find some good news', industry executives said. Iran has shut the Strait of Hormuz, through which a fifth of the world's oil flows, sending prices soaring more than 10 percent in a single week, with Brent crude jumping from $72 to more than $82 a barrel. The average gas price jumped 11...

I have argued that the current economic environment has a lot of eerie parallels to 2007. We have extremely high asset valuations, the economy is loaded up with debt, and monetary policy has taken a similar trajectory, with easy money blowing up these bubbles. We even have characters like Larry Kudlow talking up the economy just like they did in 2007. I'm not the only one who sees these concerning parallels. JPMorgan Chase CEO Jamie Dimon recently said elevated asset prices and an increasingly competitive banking environment, pushing more credit, remind him of the pre-2008 financial crisis years. "My own...

A US appeals court on Monday denied the Trump administration’s bid to delay lawsuits seeking tariff refunds — a ruling that could pave the way for companies to get back the cash they previously paid for the levies. The Department of Justice filed a motion Friday requesting to delay cases seeking up to $170 million in refunds by up to four months after the Supreme Court struck down President Trump’s tariffs on Feb. 20. But this week, a US appeals court ordered the case to be heard by the US Court of International Trade, or CIT, where the case was...

Wholesale prices rose at a faster-than-expected pace in January, countering hopes that inflation was easing, the Bureau of Labor Statistics reported Friday. The Producer Price Index which excludes volatile food and energy prices, increased a seasonally adjusted 0.8%, more than the 0.6% gain in December and well ahead of the Dow Jones consensus estimate for 0.3%. On an all-items basis, the headline PPI rose 0.5%, also above the forecast for 0.3% and 0.1 percentage point more than the prior month.

Many Americans were skeptical of Elon Musk’s grandiose claims that DOGE would take a “chainsaw” to federal spending. One “tax nerd” was so skeptical he decided to “bet his life savings” on Musk’s promises being a flop — and it paid off big time, according to a report by The Wall Street Journal. Musk has seen his approval rating descend as he has taken a more publicly active role politically, plus ongoing criticism and litigation over his management of his social media platform X and support for far-right politics in Europe. He jumped into his work with the Department of...

Tuesday’s State of the Union address gives President Trump a big platform to tout the economy’s performance on his watch. He has already given himself a grade—“A-plus-plus-plus-plus-plus,” he told Politico in December. The report card for the economy is a bit more mixed, however, after his first year back in office. Here are the grades for some key metrics. JobsNeeds improvement It is rough out there for job seekers, unless they are looking for work in healthcare. U.S. employers added only 181,000 jobs in 2025, down sharply from the prior year to the lowest figure outside of a recession in...

Japan's annual core consumer inflation hit a two-year low to match the central bank's 2 per cent target in January, data showed on Friday, suggesting weakening price pressure that could complicate its decision on how soon to raise interest rates. A separate index seen as a better indicator of underlying inflation also slowed but remained well above the Bank of Japan's target, suggesting that solid wage gains will keep the central bank on course to push up still-low borrowing costs. The data adds to recent mixed signs in the economy which barely grew in the final quarter of last year,...

President Trump said Saturday he’s going to bump his newly imposed global tariff to 15%, in the wake of the Supreme Court decision blocking his sweeping import taxes on international trading partners.The increase was “based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court,” Trump wrote on his Truth Social. “During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of...

The Supreme Court’s tariff decision landed about where conventional wisdom said it would: The justices ruled 6–3 that the International Emergency Economic Powers Act simply doesn’t give the president the sweeping authority the Trump administration claimed. That’s not a political rebuke. It’s a legal one, and a narrow one at that. Chief Justice John Roberts put the bottom line plainly: “We hold that IEEPA does not authorize the President to impose tariffs.” That’s it. Not that tariffs are unconstitutional. Not that Trump’s trade agenda is illegitimate. Just that this particular statute doesn’t do the work the administration wanted it to...

President Trump kicked off a campaign rally in Georgia with a fiery defense of his tariff policy, arguing he has the “right,” as president, to set them. The Supreme Court could rule as soon as Friday on the legality of Trump’s tariff agenda. “I have to wait for this decision. I’ve been waiting forever, forever, and the language is clear that I have the right to do it as President, I have the right to put tariffs on for national security,” Trump said. He argued the tariffs against countries like China and Canada were targeting nations that have “ripped us...