General Motors, which was the recipient of a government bailout operation only fourteen years ago, has told an investor conference in New York that it will rely on government subsidies for electric vehicles to make building them profitable by 2025. Government subsidies are, of course, money taken from taxpayers and given to corporations that are […]
Social Security Tied to Inflation?
Surprise! The increase in Social Security is indirectly indexed to inflation. Well, don’t be flummoxed, explains the Spectator’s “Cockburn.” The White House bragged last Tuesday: “Seniors are getting the biggest increase in their Social Security checks in ten years through President Biden’s leadership,” Burning Down the House Even Twitter’s in-house moderators were taken aback, deigning […]
Uncertainty Growing in Biden’s Economy
The first look at third-quarter 2022 GDP indicates a moderate increase of 2.6% at an annual rate. Not a powerhouse number, but not a decline either. But expectations for the future are where things get really ugly. Sarah Chaney Cambon reports for The Wall Street Journal: The U.S. economy grew in the third quarter but […]
Trick or Treating on Main Street
Along with rising prices at the grocery store and gas station, and in real estate/mortgage rates, Washington-made price hikes have made this a frightful season for the party in charge, writes James Freeman in the WSJ. This is the time of year many brave souls will enjoy viewing “Nightmare on Elm Street,” considered by many […]
Biden Releasing More than Strategic Oil
Is President Biden trying to manipulate oil prices even as White House officials accuse OPEC and its allies of doing just that? The release comes three weeks before the mid-term elections, and as the WSJ writes, is this a “sign of desperation” by the Biden team? Crude price climbed after OPEC+ this month announced a […]
People Still Don’t Realize the Inflation Is Intentional
The easiest way to get someone to change their behavior is to make it cheaper for them to do something else. Look at cigarette use in America after the government began taxing them heavily. In 2022 only 11% of adults told pollsters from Gallup that they smoke, as opposed to 45% in 1954, and 21% […]
LIVING IN ANOTHER WORLD: Joe Says GOP Will Make Inflation Worse
You have been feeling the pain of inflation everywhere you go. It’s a phenomenon that started shortly after Joe Biden moved into the White House, and, despite his assurances that he’s doing something, has persisted ever since. Biden even signed a bill that Democrats arrogantly named the “Inflation Reduction Act of 2022.” Well, 2022 is […]
Can Social Security COLAs Overcome Blistering Biden/Powell Inflation?
Americans living on Social Security will undoubtedly be happy to receive higher payouts after some of the largest cost of living adjustments (COLAs) seen in forty years kick in. But it’s hard to say if those COLAs will be enough to make up for raging inflation. The Federal Reserve’s decade+ of dumping money into American […]
Americans Facing Worst Core Inflation in 40 Years
The Biden-era has racked up a fair share of embarrassments, from the Afghanistan withdrawal debacle to the failure to achieve the Biden campaign’s promises on Covid, to the complete collapse of border security. But no failure has been worse than Biden’s inability to tame inflation, and his propensity to stoke it with big spending follies. […]
Inflation Pushes Yields Even Higher
New inflation reports are pushing treasury yields even higher, as the market foresees more interest rate increases from the Fed, and demands more protection from inflation. Your best investor tool is the U.S. Treasury Yield Curve. Examine it closely on my chart below. Sam Goldfarb reports on the rising rates in The Wall Street Journal: […]
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