You have watched over the past week as the UK bond market and the pensions that rely on it have gone on a rollercoaster ride trying to maintain their solvency in the face of rapidly rising interest rates. The Bank of England, one of the world’s foremost central banks and the UK’s arbiter of monetary […]
BIDEN ECONOMY: Inflation Still Red Hot
After what looked like a respite, Producer Price Inflation has surged again, damping optimism in some corners that the Federal Reserve might slow down its rate cuts, or that Americans may see reduced prices. CNBC’s Jeff Cox reports: Wholesale prices rose more than expected in September despite Federal Reserve efforts to control inflation, according to […]
The Average American Worker Is $4,200 POORER Under Joe Biden
During President Trump’s tenure in the White House, Americans were becoming wealthier, but while Joe Biden has lived at 1600 Pennsylvania Avenue, Americans have become $4,200 poorer on an annual basis. The rising cost of living has swamped any gains in wages for Americans. E.J. Antoni writes in the Washington Times: The sailor’s lament “water, […]
How Low Can He Go? Biden Rapidly Depleting America’s Strategic Petroleum Reserve
In what appears to be an effort to lower the price of oil on Americans before the mid-term elections, Joe Biden is rapidly depleting America’s Strategic Petroleum Reserve (SPR). Biden is trying every trick he can to reduce gasoline prices on Americans before the election, including calling for a federal gas tax holiday that would […]
Biden Promises to “End Hunger in America” by 2030
Really, you’ve heard that one before? Too bad the punchline isn’t stronger. Why hasn’t “hunger” in America ended? If the government already spends billions of dollars ($182 billion) on food, how can it be logical that deprivation in America is the problem? As the WSJ notes, the White House is ready to tackle the problem […]
Shock Interest Rate Hikes Stun Markets
According to David Stockman, persistent, large interest rate hikes have given Wall Street the opposite of what it was praying for. Even dovish Sweden has turned toward shocking rate hikes. He writes (abridged): The Great Central Bank Pivot is now underway around the globe, but it’s not the one Wall Street has been praying for. […]
Biden IGNORES Annual Inflation
Once again, Joe Biden has chosen to focus on month-to-month inflation numbers to deflect from the reporting of the highest annual inflation numbers in 40 years. Watch Biden wriggle like an eel in an interview with 60Minutes‘ Scott Pelley when Pelley asks Biden about Americans suffering from inflation. REPORTER: “People are shocked by their grocery […]
“Nothing, Oh, Nothing Is Going Right”
Poor Joe Biden. With apologies to James Taylor, the President really could use a friend. Bad economic news persisted on what should have been a day of celebration – Joe’s Inflation Reductions Act. The White House was celebrating “a win for the middle class,” as Biden called it. Politico sums up Labor Department’s news. The […]
Fire and Rain?
President Biden gave a speech yesterday afternoon in the South Lawn. At NRO, Charles Cooke wonders if Biden was showing off, looking to be the provocateur with a finger in America’s collective eye? The president is irked and bored by the persistence of inflation in the economy, and, with the midterms looming, he wants it […]
Joe Biden, “You’ve Got a Friend”?
With friends like these, as the saying goes, who needs enemies? Certainly not U.S. consumers, who are facing about all the inflation reduction they can take as food prices continue to soar, notes the WSJ’s James Freeman. A Win for the Middle Class? The Biden White House yesterday celebrated the Inflation Reduction Act with a concert featuring […]
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