Free Republic

America's wealthiest families held an astounding $8.5 trillion in untaxed profits in 2022...This term, the Supreme Court will decide Moore v. United States...According to a report by The Lever, the Moores' case has been backed by billionaire think tanks and conservative dark money groups.

Former government officials Tony Blinken, Michele Flournoy & Lloyd Austin may run Biden’s national security agencies — their firm is telling investors it expects to profit off ties to those officials. Two former government officials who may now run President-elect Joe Biden’s national security team have been partners at a private equity firm now promising investors big profits off government business because of its ties to those officials, according to government documents reviewed by The Daily Poster. Pine Island Capital Partners lists former Under Secretary of Defense Michele Flournoy and retired General Lloyd Austin as a partner in the firm,...

Some of the largest general consumer S&P 500 companies are raising prices to boost their own profits even as the Fed raised interest rates to control inflation, according to a new watchdog report. “Higher interest rates haven’t stopped S&P companies, especially in the big food industry, from inflating consumer prices despite reporting billions in extra net earnings and over a trillion dollars in giveaways to wealthy investors,” said Liz Zelnick, the director of economic security and corporate power at the nonprofit Accountable.US, in a release.

Hit the road, Jack, and don’t you come back to China no more. The Chinese Communist Party (CCP) is a murderous, dictatorial, oppressive, and anti-American regime. It abuses its own people and works hard to undermine other nations. It’s time that U.S. companies pulled out of China for good. U.S. companies with branches or manufacturing in China include Apple, Tesla, Starbucks, Johnson & Johnson, Disney, McDonald’s, Yum! Brands (think Taco Bell, Pizza Hut, KFC), Dell, Nike, Walmart, Trader Joe’s, Kellogg’s, Tyson, and Home Depot. These companies get cheaper labor and higher profits while helping an economy completely controlled by the...

Federal officials gave more than $23 billion COVID-19 aid to the nation’s top 20 nonprofit hospitals even as a 62 percent increase in their collective net assets led parallel surges in the institutions’ total profits and revenues during the 2018-2021 time period spanning the Coronavirus pandemic, according to a new report. Only two of the 20 institutions have repaid the government for the COVID-19 aid they received. “The 20 largest nonprofit hospitals in the country continued making massive profits while their cumulative net assets soared to $324.3 billion in 2021, up from $200.6 billion in 2018. The year 2021 is...

British energy giant Shell ensured the pay package for the company’s CEO jumped by half last year to nearly $12 million as oil and gas companies made record profits from runaway energy costs and consumers struggled with a global cost-of-living crisis. AP reports London-based Shell paid Ben van Beurden a total of $11.5 million in 2022 as annual company profits doubled to an all-time high of $40 billion because Russia’s war in Ukraine sent oil and gas prices soaring. Van Beurden stepped down at the end of last year after 40 years at the company.

Corporate profits in the nonfinancial sector hit a record high of $2.08 trillion in the third quarter even as 40-year-high inflation continues to squeeze American consumers. Profits adjusted for inventories and capital consumption rose $6.1 trillion from the second to third fiscal quarters, the Commerce Department reported Wednesday, continuing a red-hot recovery from the flash recession caused by pandemic shutdowns. Following a two-quarter dip in 2020, quarterly profits have surged by more than 80 percent over the last two years, from around $1.2 trillion to more than $2 trillion, adding weight to arguments that the private sector is driving inflation...

President Biden recently went on TV to denounce the “outrageous profits” of the major oil companies and declare that he would push Congress to enact a tax on their excess profits. But “excess profits” are in the eye of the beholder, and oil companies have always been the target of political scrutiny any time they report large profits or the price of gasoline rises. It is still surprising that Biden would embrace a so-called “windfall profits tax” on oil companies when it proved to be an utter failure the last time it was tried under President Jimmy Carter. It would...

The Biden administration is seizing on huge earnings calls from oil companies as it seeks to give voters a response to relatively high gasoline prices ahead of next week’s midterms. President Biden has repeatedly sought to place blame on the industry for the high prices, but has ramped up its rhetoric in the wake of massive earnings. And while analysts say that large parts of the price are set by the global oil market, not by individual companies, the optics of massive profits while Americans struggle with inflation gives the administration something to cling to. In total, seven of the...

Though he has promised to end fossil fuels, President Biden now threatens to use emergency war powers to commandeer the assets of oil producers located in the US. Brushing aside the steps he's already taken to reduce the supply of energy in this country by cancelling the Keystone Pipeline and numerous new drilling leases, Biden asserted that "I'm giving oil producers one last chance to do the right thing." ExxonMobil CEO Darren Woods pointed out that "our company has invested $118 billion on new oil and gas supplies over the past five years. We have made the necessary expenditures and...

On Friday’s “CNN Newsroom,” Sen. Mazie Hirono (D-HI) argued that inflation is due to the pandemic and supply chain issues, “none of which the Republicans choose to do anything about except to blame Joe Biden.” And that companies “could give up some of their unearned profits to help the American people.” Host Ana Cabrera asked, “Americans aren’t happy with the economy right now. I don’t need to tell you that. But they’re blaming Democrats. If things like inflation are still high come November, how do you argue to keep Democrats in the majority?”

Appearing Wednesday on Tucker Carlson Tonight, radio host Glenn Beck broke down the astonishing revelations, claiming key members of the federal government quietly entered into a joint ownership of Moderna’s mRNA vaccine just as the pandemic was poised to hit the US.

The southeastern Chinese city of Shenzhen—known as a national leader in economic development—has seen its industrial profits plunge during the year.Monthly data from the Shenzhen Bureau of Statistics reveal the city’s industrial enterprises profits fell by 50.4 percent in July compared to June, a 40 percent drop from last July. August saw a fall of 29.46 percent year-on-year while September data has not yet been released.Yi Xianrong, a former director of the Financial Development Office of the Chinese Academy of Social Sciences, told The Epoch Times that such a downward trend for this city of 12.6 million people in Guangdong...

London (CNN Business)Covid-19 vaccineshave created at least nine new billionaires after shares in companies producing the shots soared. Topping the list of new billionaires are Moderna(MRNA) CEO Stéphane Bancel and Ugur Sahin, the CEO of BioNTech (BNTX), which has produced a vaccine with Pfizer (PFE). Both CEOs are now worth around $4 billion, according to an analysis by the People's Vaccine Alliance, a campaign group that includes Oxfam, UNAIDS, Global Justice Now and Amnesty International. Senior executives from China's CanSino Biologics and early investors in Moderna have also become billionaires on paper as shares skyrocketed, partly in expectation of profits...

You my be suprised to learn that Google NOW makes $120 BILLION DOLLARS a year in profit by selling your search and web browsing data to advertisers. When you click on an ad, that advertiser pays Google about $2 for your click!!!!! Google has also just purchased YouTube that pays NO royalty to musicians many of which have their music videos posted on it by other users. In addition to these obscene billions of dollars of profits from selling YOUR data, Google has put both musicians and small town newspapers in dire straights, the latter of which because they can...

Turn on your T.V., and you are bound to come across a religious show with someone declaring they speak for God. Go to your local bookstore, and there I'm sure you will find several books written by people who say they have received divine revelations from God. Jump on YouTube, and you will definitely see videos of preachers proclaiming, "Thus saith the Lord."This barrage of "prophetic words" from thousands of voices has undoubtedly caused many Christians to become confused. In one camp, you have Christians who get caught up in the sensationalism of prophetic words espoused by the Word of...

This week, a small contingent of retail stock traders discovered that big hedge funds had taken large short positions on several stocks. In some cases, the shares shorted exceeded the total number of shares issued by the companies. "Shorting" means selling stock you don't own. With the cooperation of market opinion makers, negative assessments can be created and circulated driving the share prices down. The hedge fund that shorted the stock can then close the deal by buying the shares at a lower price and net billions in profits. This time, though, outsiders used the large short position in GameStop...

Dear MoveOn member, The novel coronavirus known as COVID-19 is here. After weeks of watching the global pandemic unfold, we're now seeing the virus affect many of our communities, our families, our politics, our elections, our jobs, and more. And while the full extent of the virus's impact is still unclear, it's already exposing underlying problems in our country including these three major ways: Donald Tump and the GOP have put the profits and the needs of corporations before caring for our communities. Their corruption, ineptitude, and secrecy are putting millions at risk. Americans are at risk not just from...

Strategists at Goldman Sachs just reminded investors why they are dumping stocks hand over fist right now. The coronavirus may wipe out corporate growth in 2020, perhaps completely. Goldman Sachs said Thursday in a note U.S. companies will generate no earnings growth in 2020. Underlying the call is Goldman’s view that the coronavirus is expected to spread around the globe and severely harm economic activity. For 2020, Goldman slashed its S&P 500 earnings estimate by $9 and expects no earnings growth. Looking out into 2021, Goldman now sees $8 less in S&P 500 earnings and a modest 6% growth rate....

Late Wednesday, Microsoft (ticker: MSFT) reported financial results that handily beat Wall Street expectations. The company posted adjusted fiscal second-quarter earnings per share of $1.51, above the $1.32 Wall Street consensus. Revenue of $36.9 billion beat estimates of $35.7 billion. On Thursday, Bernstein analyst Mark Moerdler reaffirmed his Outperform rating for Microsoft shares, citing the company’s stellar earnings report. He also raised his price target for the stock to $203 from $174. “This was again another strong quarter as Microsoft continues to deliver Commercial Cloud growth as well as growth in numerous other areas,” he wrote. “The cloud story continues...