From the moment Joe Biden first stepped inside the Oval Office as president, the crises began: from the Biden Border Crisis, Biden Energy Crisis, Biden Inflation Crisis, Biden Economy Crisis, Biden’s Afghanistan Debacle, and even falling on stage, nothing is ever this president’s fault. Nothing. The question: Why? We’ll get there. Harry S Truman, America’s…
Senator Shehu Sani has asked of the whereabouts of the trillions the immediate past administration claimed it made while in office. ”Customs made trillions, Jamb made trillions, Ports made trillions, Stamp duties made trillions, Digital economy made trillions, Inland Revenue made trillions, Foreign direct investment made trillions, Rice pyramid made trillions; Where are the trillions?”
The numbers: The number of Americans who applied for unemployment benefits before Memorial Day weekend totaled a low 229,000 after Massachusetts took dramatic steps to weed out a massive increase in fraud. New jobless claims in the seven days ended May 20 rose by 4,000 from 225,000 in prior week, the Labor Department said Thursday….
The numbers: The biggest part of the U.S. economy sped up in May, S&P Global surveys showed, but manufacturers lagged behind. The S&P Flash U.S. services-sector index rose to a 13-month high of 55.1 in May from 53.6 in the prior month. Most Americans are employed on the service side of the economy: High-tech, health…
Someone close to Ted Lieu really should remind him what happens when you ask a stupid question. We get it, he’s not quite the dimmest bulb when it comes to Democrats in Congress but he’s pretty darn close. He better hope Eric Swalwell keeps getting elected … that’s all we’re saying. Did he really think…
CNN posted a story about President Biden and his advisors wanting to flip FLORIDA to the Democrat column in 2024. Biden’s advisors seem to think that painting ‘The Florida Blueprint’ as a bad thing and implying that ANY Republican who gets the nom would run the country like DeSantis has run Florida is a GOOD…
Protecting your retirement in the face of a potential recession means taking a hard look at your financial plan and making sure you have enough of a safety net if the economy falters later this year or next year. As many as two-thirds (67%) of U.S. adults expect the economy will enter into recession later…
During my lengthy career in finance, I picked up several market heuristics that have generally proven more useful than not. Every January, for example, I remember the “five-day rule,” which holds that if the S&P 500’s SPX, -0.14% accumulated performance is positive over the first five days of the new year, there is around an…
If the economic storms get more difficult, traders and investors seem to think the Federal Reserve will be like a lifeguard and rescue all swimmers from the rip tides. Economists see such confidence as misplaced given the high inflation environment. In general, investors and traders have been steadfast in their view they can count on…
Congress is taking debt-ceiling negotiations uncomfortably near a vague, but fast-approaching deadline that is closely monitored by markets. It’s not clear exactly when that deadline will arrive or exactly what will happen if it does. But from Wall Street to Washington there is fear that the fallout could be very bad. The debt ceiling is…
Atlanta Federal Reserve Bank President Raphael Bostic on Monday said that he would like to see the central bank pause its steady rate hikes in order to gauge the health of the economy. “I think the appropriate policy is really to just wait and see how much the economy slows from the policy actions that…
Can interest in the stock market be so high that workers’ day jobs are affected by it? Perhaps. One recent study looked at the workers of a maker of paper cups in China. Hardly investment bankers or hedge-fund managers, these workers operate moulding and wrapping machines. The study, by two professors at China’s Xiamen University,…
Macroeconomic concerns are piling up, creating heightened uncertainty for investors. “The debt-ceiling debate is really depressing,” said Stanley Druckenmiller, chairman and chief executive of Duquesne Family Office, at the 2023 Sohn Investment Conference held virtually on Tuesday. “I hope we don’t have a technical default,” he said, which would result in a “market event.” Druckenmiller…
Shopping isn’t among my favorite things to do, though I don’t loathe it if I have an idea of what I’m looking for and where to get it. That latter factor is becoming increasingly challenging in the wake of major retailer after major retailer waving the white flag and closing up shop. It’s true that…
The numbers: Most U.S. businesses grew at a slightly faster pace in April, based on a closely followed ISM index that increased to 51.9% last month. The Institute for Supply Management’s index of service-oriented businesses moved up from 51.2% in March. Numbers above 50% indicate companies are expanding. The closely followed ISM reports…
The aftershocks of the collapse of Silicon Valley Bank (SVB), while seemingly fading, are still reverberating around the world. Although Federal Reserve officials have taken pains to assure the public that the U.S. banking system is sound, it is unclear why anyone should believe them. After all, Fed Chair Jerome Powell told Congress the same thing just days…
The Federal Reserve Board has been pretty adamant that it will continue with interest rate hikes until inflation cools to 2 percent, but recent bank failures and other economic turmoil have forced the Fed to at least consider a pause until the turmoil is over. With the collapse of First Republic Bank being the latest…
Brett Arends's ROI: ‘I’m retired, I remember the 1970s, and I’m worried about a return of stagflation. What can I do to protect my savings?’
This toxic political standoff could easily go down to the wire, threatening the U.S. with its first-ever technical default, writes Brett Arends.
Yesterday, Karine Jean-Pierre stood at the White House podium and claimed with absolutely zero supporting evidence that thanks to the “MAGA extremists” in Florida, teachers risk losing their licenses if they keep pictures of their spouses on their desks. KJP claims that it’s illegal for gay teachers in Florida to have pictures of their spouses…