President Joe Biden has indicated that he may take action to cancel up to $10,000 of student debt per borrower “soon” in a meeting with Democratic Representative Tony Cardenas. Canceling some student debt could provide Democrats with a boost in the upcoming midterm elections where the party is facing potential defeat. Republicans have come out […]
Tag: inflation
US economy shrank 1.4% in 1st quarter of 2022; worst performance in 2 years
The U.S. economy cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 1.4% on an annualized basis in the three-month period […]
Democratic socialist congressional candidate says $15 minimum wage is not enough, ‘$30 is the floor’
A Democratic socialist candidate for Congress in Washington State is proposing a $30 minimum wage, saying that the current push for a $15 minimum wage is an “antiquated demand.” Rebecca Parson, who’s running for Congress in Washington’s 6th district, tweeted on April 21 that the minimum wage should be increased to $30. “$15 minimum wage […]
Biden ripped by Hispanic voters over immigration, economy: ‘Latino values are Republican values’
Talks of November’s midterms plague the political realm as President Joe Biden’s poll numbers continue to slip among key demographics – including Latinos and young Americans. While the partisan blame for an escalating border crisis, soaring inflation and a siege against family values raged on, “Fox & Friends Weekend” co-host Rachel Campos-Duffy sat down with […]
Rents are rising everywhere. Can we afford them much longer?
Rents continue to rise at the fastest pace in decades, making housing costlier than ever for many Americans. Nationally, rents rose a record 11.3 percent last year, according to real estate research firm CoStar Group. That fast pace of growth remained elevated in the first months of 2022, as many parts of the country continued […]
Is the US economy already in a recession? ‘Probably’ says market expert
During an interview on “Mornings with Maria” market expert Mark Yusko argued the U.S. economy is “probably” already in a recession, and that government spending and money printing created the inflation Americans are experiencing today. MARK YUSKO: “The Fed is in a box. They are powerless against the two things that they fear most. One, […]
For the 1st time in 10 years, Netflix has lost viewers, stock tanks, says password sharing is to blame
Netflix has lost 200,000 U.S. subscribers in the first quarter of 2022, marking its first drop in customers in more than a decade, the company announced Tuesday. It attributed the losses to factors such as stronger competition, the Ukraine-Russia conflict and password sharing. In a letter to shareholders, the entertainment company said it relied on […]
Most of today’s renters believe they will never own a home as prices keep rising
Faced with a white-hot real estate market, renters are losing confidence they will ever own a home. On average only 43.3% of renters expect to own a home at some point in the future, down sharply from 51.6% in 2021, according to a Federal Reserve Bank of New York survey released on Monday. High prices […]
Green-Energy Inflation is on the way
If you think inflation is bad, wait until the rest of the commodity markets really heat up. Although prices for basic materials like copper, aluminum, nickel and steel—used to build everything—have already inflated, they haven’t yet escalated as much as fuels and energy-driven commodities like food. But they will if European and U.S. policy makers […]
Biden and Psaki desperate to pin blame on inflation on Putin
President Joe Biden and the White House continued this week to spin sky-high inflation numbers as voters balk at the rising cost of living — often relying on misleading arguments to deflect responsibility for the price hikes. Democrats have blamed a range of targets for causing prices to rise — from the war in Ukraine […]
Oil and gas drilling to reopen on public lands in a first under Biden
As federal officials weigh efforts to fight the climate crisis against pressure to bring down high gasoline prices, the interior department is moving forward with the first onshore sales of public oil and natural gas drilling leases under Joe Biden. The move also calls for a sharp increase in royalty rates for companies, ostensibly to […]
Massive Texas-Mexico border truck jams causing frustration
Patience is wearing thin for importers and exporters who say a bottle neck on commercial trucks at the border will cost consumers a lot more for produce and products coming in from Mexico this Easter weekend. The delays are all due to additional safety inspections mandated by Governor Greg Abbott of trucks bringing products into […]