Inflation, which is at a 40-year high, is working its way into the wallets of Americans in every which way it can. Gas prices are at all-time highs. The stock market has been tumbling, inching closer to being considered a hibernating “bear market.” And the items you love at the grocery store are getting marked […]
Tag: inflation
Biden blamed as gas prices reach new record high
Average gas prices in the U.S. reached a new record high Thursday, according to AAA’s gas price calculator, after Republican senators slammed the Biden administration for a “de facto ban on new drilling.” The national average cost of a regular gallon of gasoline hit $4.589 early Thursday morning. This price topped Wednesday’s previous record of […]
Brace for a recession say top CEOs
The mood in the C-Suite is darkening. CEO confidence has tumbled to the weakest level since the beginning of the Covid-19 pandemic, The Conference Board said Wednesday. For the first time during the economic expansion, CEO confidence is now in negative territory.Worse, business leaders are bracing for a potential downturn caused by the Federal Reserve’s […]
Biden’s ‘Temporary Inflation’ is still here nearly a year later
It has now been 300 days since President Joe Biden said that high inflation would be “temporary” as the cost of consumer goods including gas has continued to climb. On July 19, 2021 Biden addressed inflation in remarks delivered at the White House and argued that the significant price rises that had taken place amid […]
While US babies suffer, Congress gives its staff free Peloton memberships
Many Americans are struggling to afford basic necessities under the Biden administration. Meanwhile, members of the Democrat-controlled House of Representatives are spending unnecessary money on their staffers. Sure, elected officials are supposed to represent their constituents, so one would think congressmen would be concerned that Americans cannot afford gas or find baby formula. But it […]
Baby formula stockpiled for illegal immigrants
As American families deal with a shortage of baby formula across the US, a Florida Republican lawmaker has released images of dozens of boxes of the coveted product at a migrant processing facility near the US-Mexico border. Rep. Kat Cammack shared pictures of “pallets” of infant formula at the Ursula Migrant Processing Center in McAllen, […]
Gas prices jump to record highs; Will they go higher?
In another blow to the US economy, prices at the pump soared to fresh record highs. The national average price for regular gasoline climbed more than four cents on Tuesday to $4.37 a gallon, according to AAA. That takes out the prior record of $4.33 set on March 11. The gas spike — prices are […]
Biden’s Approval Rating Tanks Even Lower
resident Joe Biden’s approval rating has fallen further and now stands at just 39 percent, according to a new poll published on Monday, as Americans continue to express concerns about inflation. An Investors Business Daily/TIPP poll found that the president’s approval had fallen again and was approaching his previous record low of 38 percent set […]
Babies in Danger of Dying as Empty Shelves of Infant Formulas Plague US
According to reports Monday, many stores across the country are unable to stock baby formula, and parents are sounding the alarm. In April, the data collection firm Datasembly found the out-of-stock rate for baby formula in the United States had surged to 31 percent. For comparison, the rate stood between 2 and 8 percent during […]
Did Biden’s $1.9T stimulus cause inflation, or save economy?
Is President Joe Biden to blame for the nation’s skyrocketing inflation? With midterm races in full swing, Republican candidates are pointing a finger at the $1.9 trillion American Rescue Plan, which Biden spearheaded and Congress passed in March 2021 with no Republican votes. It was billed as the final steroid shot needed to propel the […]
Stocks post worst month in nearly 14 years as recession fears grow stronger
US stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic. The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by Amazon (AMZN), which dropped nearly 15% after it missed earnings expectations. The S&P […]
As recession fears mount, the Fed’s favorite inflation measure just hit a fresh 40-year high
Americans had to reach deeper into their pockets in March, as yet another key inflation index showed prices hit a fresh 40-year high. The Personal Consumption Expenditures price index increased by 6.6% for the year ended in March, the Commerce Department reported Friday. It was the highest rate since the period ended January 1982, outpacing […]