Tag: Economy

Housing costs: the root of US economic malaise?

What happened “You have to marvel at America’s economy,” which defied recession predictions and “enjoyed one of the boomier years of the century,” The Economist said. But a lot of voters “feel down on the economy,” The Associated Press said, and a “major reason” is the “housing affordability crisis.” Who said what “The bottom line […]

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America’s Tax-Dodging CEOs Are at It Again

It’s hard to match Tesla in terms of its rapaciousness, but the other nine firms on the IPS’s “Terrible Ten” include some household names: T-Mobile, Netflix, Ford Motor Company, Metlife, and Darden Restaurants (owners of Olive Garden); a trio of energy companies (Nextera, Duke Energy, First Energy); and the shining star of the 2008 financial […]

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Elon Musk Leads America’s Top Tax-Dodging CEOs

It’s hard to match Tesla in terms of its rapaciousness, but the other nine firms on the IPS’s “Terrible Ten” include some household names: T-Mobile, Netflix, Ford Motor Company, Metlife, and Darden Restaurants (owners of Olive Garden); a trio of energy companies (Nextera, Duke Energy, First Energy); and the shining star of the 2008 financial […]

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Filling Up Won’t Cost a Pot ‘O Gold This St. Patrick’s Day

WASHINGTON, D.C. — The national average for a gallon of gas has been rising leisurely since last week, moving a mere two cents higher to $3.41.  However, with the cost of oil crossing the $80 per barrel mark and gas demand popping with warmer temps and better weather, change may be coming to the pump. […]

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How the Introvert Economy Is Shifting Consumer Behaviors

The pandemic has catalyzed a shift in consumer behavior, giving rise to what’s now termed the “introvert economy.” This shift sees consumers increasingly favoring the comfort of their homes over traditional social outings—a trend with significant implications for businesses across industries. Consumers are choosing to go out earlier, if at all, to then enjoy the […]

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Trump Is Admitting Verbatim That He’d Gut Social Security and Medicare

“And then Congress said, well, they never, they ultimately, usually fail,” he continued on CNBC’s Squawk Box. “They are a gooch—like, extremely political, and they’re extremely subject to people called lobbyists who happen to be very, very talented, very good and very rich.” “I could have banned TikTok. I had it banned just about, I […]

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Trump Is Threatening to Gut Social Security. Take His Word for It.

“And then Congress said, well, they never, they ultimately, usually fail,” he continued on CNBC’s Squawk Box. “They are a gooch—like, extremely political, and they’re extremely subject to people called lobbyists who happen to be very, very talented, very good and very rich.” “I could have banned TikTok. I had it banned just about, I […]

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Joe Biden Is Throwing Caution to the Wind

One of the new policies in the speech that was previewed for journalists well in advance was the administration’s announcement of the creation of an offshore pier that will be constructed by American troops and tasked with sending more humanitarian aid into Gaza. That news ⁠was accompanied by an acknowledgement of the war’s toll—“More than […]

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The Stealth Budget Cuts Imperiling the Biden Anti-Trust Agenda

The Federal Trade Commission, led by the charismatic Lina Khan, has gotten more press for its trustbusting under President Joe Biden than the Justice department’s antitrust division, whose chief is Jonathan Kanter. But both agencies have re-energized antitrust enforcement, which was scaled back in the Reagan years and remained somewhat moribund until Biden took office. […]

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The Stealth Budget Cuts Imperiling the Biden Antitrust Agenda

The Federal Trade Commission, led by the charismatic Lina Khan, has gotten more press for its trustbusting under President Joe Biden than the Justice Department’s antitrust division, whose chief is Jonathan Kanter. But both agencies have reenergized antitrust enforcement, which was scaled back in the Reagan years and remained somewhat moribund until Biden took office. […]

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Joe Biden Finally Takes the Gloves Off

One of the new policies in the speech that was previewed for journalists well in advance was the administration’s announcement of the creation of an offshore pier that will be constructed by American troops and tasked with sending more humanitarian aid into Gaza. That news ⁠was accompanied by an acknowledgment of the war’s toll—“More than […]

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Pump It Up – Gas Prices Rise Ahead of Daylight-Saving Time

WASHINGTON, D.C. (March 7, 2024)—Pump prices have maintained a steady march higher, rising eight cents since last week to $3.39. More expensive oil is a likely culprit, as crude accounts for nearly 60% of pump prices. The cost for a barrel of oil is edging closer to $80, about $10 more per barrel than a […]

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The IRS Is Starting to Nail Millionaire Tax Cheats

It’s always mystified me why Republicans think defunding the Internal Revenue Service is a political winner. Granted, voters are terrified of the IRS, but to presume that means we don’t want the IRS to collect taxes from the rich—the sole cohort that isn’t terrified of the IRS—is just wrong. According to a Navigator Research poll […]

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How Joe Biden Made the IRS Great Again

It’s always mystified me why Republicans think defunding the Internal Revenue Service is a political winner. Granted, voters are terrified of the IRS, but to presume that means we don’t want the IRS to collect taxes from the rich—the sole cohort that isn’t terrified of the IRS—is just wrong. According to a Navigator Research poll […]

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Five takeaways from Jeremy Hunt’s spring Budget

The government made what is likely to be its final major attempt to woo disillusioned voters before the general election, with the much-anticipated spring Budget today. Chancellor Jeremy Hunt began his day with a gruelling 17-mile run, according to The Sun‘s political editor Harry Cole, before presenting the Budget to an electorate grappling with a […]

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The Feverish Expectations of Biden’s State of the Union Address

The president’s State of the Union address will likely hit some familiar beats: Bragging about accomplishments and setting the agenda for the future. Biden will also need to make the case that the economy is strong, even as public polling shows middling to poor opinions of how the economy is faring, with particular concerns about […]

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A short guide to bitcoin’s halving event

Bitcoin is about to undergo a “halving” event for only the fourth time in its 15-year history – and its value could skyrocket even further. The cryptocurrency has rallied to a near record high of $65,000 in recent weeks, a remarkable turnaround after its value fell to less than $16,000 in late 2022. Its recovery […]

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State of the Union Job Number One: Talk to the Working Class.

But the fact that he’s not getting a lot of credit is not puzzling, because either a) nobody knows about this wealth transfer or b) they kind of know it, but they don’t really believe it. There are reasons for this: First, Biden has not been a very effective salesman for his ideas and accomplishments. […]

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Biden’s Best Possible State of the Union Is a Populist Street Fight

But the fact that he’s not getting a lot of credit is not puzzling, because either (a) nobody knows about this wealth transfer or (b) they kind of know it, but they don’t really believe it. There are reasons for this: First, Biden has not been a very effective salesman for his ideas and accomplishments. […]

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Nigeria’s economic woes: what went wrong for African nation

Nigeria is experiencing its worst economic crisis in almost 30 years, with widespread unrest and anger over soaring prices and stagnant wages. Annual inflation is “nearing 30%” and the currency is “in freefall”, said CNBC, prompting “protests across the country over the weekend” against the government’s reforms. Nigeria is Africa’s largest economy but half of […]

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Gas Prices Creep Ahead of Potential Leap

WASHINGTON, DC – Drivers saw gas prices creep up the final week of February. The national average for a gallon of gas is $3.31 on this leap day, 4 cents higher than it was one week ago. The upward trend is likely to continue as travelers start heading out of town for Spring Break.  “We’re […]

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North Korea’s stranded migrant workers

Thousands of North Koreans working illegally in China have reportedly rioted to demand unpaid wages, allegedly spent by Pyongyang to fund its war machine. About 2,500 North Koreans were owed $10 million from years of unpaid labour, Cho Han-bum, a research fellow at the Korean Institute for National Unification think tank, told NK News. Workers […]

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Stop This Ruinous Albertsons-Kroger Merger

The price issue is especially salient, given public outrage over food prices. Writing earlier this month in The Washington Post, Abha Bhattarai and Jeff Stein reported that food prices rose 25 percent during the past four years, compared to an overall inflation rate of 19 percent. More than two-thirds of voters said, in a November […]

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Stop This Ruinous Albertsons-Kroger Merger

The price issue is especially salient, given public outrage over food prices. Writing earlier this month in The Washington Post, Abha Bhattarai and Jeff Stein reported that food prices rose 25 percent during the past four years, compared to an overall inflation rate of 19 percent. More than two-thirds of voters said, in a November […]

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This Ruinous Grocery Store Merger Must Be Stopped

The price issue is especially salient, given public outrage over food prices. Writing earlier this month in The Washington Post, Abha Bhattarai and Jeff Stein reported that food prices rose 25 percent during the past four years, compared to an overall inflation rate of 19 percent. More than two-thirds of voters said, in a November […]

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Gas Prices Make a Pit Stop

WASHINGTON, D.C. — After suddenly spiking more than a dime two weeks ago, the national average for a gallon of gas had a calm week by remaining at $3.27.  News that the large BP-Whiting refinery in Indiana, offline since early February due to power issues, is reopening soon may have contributed to easing pump price […]

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The Return of Trump’s Housing Policy Would Be a Horror Show

In contrast to the Trump administration’s annual requests to hollow out HUD, Biden and Vice President Kamala Harris have asked Congress to expand the agency’s budget each year. Moreover, current HUD Secretary Marcia Fudge has wisely declined to continue the Opportunity Zone boondoggle. Fudge has also reversed Carson’s egregious rule changes and is working to […]

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A Return to Trump’s Housing Policies Would Be a Disaster

In contrast to the Trump administration’s annual requests to hollow out HUD, Biden and Vice President Kamala Harris have asked Congress to expand the agency’s budget each year. Moreover, current HUD Secretary Marcia Fudge has wisely declined to continue the Opportunity Zone boondoggle. Fudge has also reversed Carson’s egregious rule changes and is working to […]

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