I was afraid of running out of space. More news came in last evening and it's not good. Batton down the hatches, a hurricane of bad econ news is coming.
Before the end of this year, millions of American families could benefit from the revised version of the child tax credit. This is thanks to a group of senators wanting to bring back monthly payments.
Normally, the current rising interest rate environment should be good for banks as they charge more for the loans they make. But the problem is that inflation reduces the purchasing power of households, which affects their ability to honor their loan payments. This should therefore in turn impact the banks.
Normally, the current rising interest rate environment should be good for banks as they charge more for the loans they make. But the problem is that inflation reduces the purchasing power of households, which affects their ability to honor their loan payments. This should therefore in turn impact the banks.
The primary negative difference between now and 2009 is rampant inflation. The consumer price index monthly increase year over year since the second quarter has been at the highest level in four decades. This has sucked purchasing power out of American households as the prices of such necessities as food, fuel and clothing have risen by double-digit percentages. The price of gasoline hit a record $5 a gallon in June. As oil prices have fallen, the price has backed down closer to $3. However, OPEC+ recently said it would cut crude production sharply. Other nations cannot replace this, so gas prices almost certainly will rise again, and perhaps sharply.
Biden is trying to sway American sentiment toward the Democrats pre-election. Fails miserably as usual. Proves Democrats not only want gas prices to go up but also don't care about the American people.
LINKS Mississippi barge traffic is halted due to water level, to add to a TRAIN STRIKE Remember That Railroad Strike Biden Supposedly Averted? Well.
So, the clock Biden saw run down to its last 24 hours to avert a strike in September has been reset to roughly one month from now — running through November's midterms — until another scramble to avert a strike will seemingly be imminent.
The primary negative difference between now and 2009 is rampant inflation. The consumer price index monthly increase year over year since the second quarter has been at the highest level in four decades. This has sucked purchasing power out of American households as the prices of such necessities as food, fuel and clothing have risen by double-digit percentages. The price of gasoline hit a record $5 a gallon in June. As oil prices have fallen, the price has backed down closer to $3. However, OPEC+ recently said it would cut crude production sharply. Other nations cannot replace this, so gas prices almost certainly will rise again, and perhaps sharply.
LINKS Mississippi barge traffic is halted due to water level, to add to a TRAIN STRIKE Remember That Railroad Strike Biden Supposedly Averted? Well.
So, the clock Biden saw run down to its last 24 hours to avert a strike in September has been reset to roughly one month from now — running through November's midterms — until another scramble to avert a strike will seemingly be imminent.
Another Inflation Metric Just Smashed Through PredictionsThat is, producer inflation has not peaked and the Biden administration's frequent bragging about its work to attack or bring down inflation is just bluster that hasn't done anything to ease burdens on American companies.What's more, the increased and apparently accelerating prices for producers is likely to make the already hawkish
Joe Biden's America: Wholesale Prices Rise in September - "Hotter Than Expected" (VIDEO)
The producer price index, a measure of prices that U.S. businesses get for the goods and services they produce, increased 0.4% for the month, compared with the Dow Jones estimate for a 0.2% gain. On a 12-month basis, PPI rose 8.5%, which was a slight deceleration from the 8.7% in August.
Excluding food, energy and trade services, the index increased 0.4% for the month and 5.6% from a year ago, the latter matching the August increase.
Food prices helped boost the increase in goods inflation, with a 1.2% monthly increase. Energy rose 0.7% after posting massive gains the previous two months.
The Biden-Pelosi-Schumer deficits are a catastrophe
While the Biden administration brags that it “cut” the federal government’s annual deficit in half in the fiscal year 2022, the reality is that the $1.4 trillion deficit is not a triumph but a travesty.
“The worst is yet to come,'' said IMF chief economist Pierre-Olivier Gourinchas. Three major economies — the United States, China and Europe — are stalling. Countries accounting for a third of global economic output will contract next year, suggesting that 2023 “will feel like a recession'' to many people around the world, he said Tuesday.
Cash for Candy program supports American troops overseas
WHAT ABOUT US BASES? THERE IS ALWAYS A FOOD COLLECTION BOX AT THE COMMISSARY, REMEMBER FJB TOLD LOWER RANKS TO USE SNAP. AVOID SKITTLES, STILL ON THE RECALL LIST EXCESS DYE.
Biden Administration Drains the Strategic Petroleum Reserve to Its Lowest Level Since 1984
AAA says that the national average of gasoline prices is $3.910 per gallon as of Sunday, Oct. 9 for regular gasoline. A year ago the average was $3.266 for the same type. That means prices are now up almost 20% (+19.7%) in the last year. In the last month, it's up 4.6% alone.
Moreover, the average in California is now $6.335 per gallon, up 42.8% from $4.436 a year ago for regular gasoline. In the last month, it's up 18.6% from $5.34.
Thanks, Gail. Lots of interesting links there.
I was afraid of running out of space. More news came in last evening and it's not good. Batton down the hatches, a hurricane of bad econ news is coming.
Parents To Get Up To $300 Monthly
Before the end of this year, millions of American families could benefit from the revised version of the child tax credit. This is thanks to a group of senators wanting to bring back monthly payments.
https://share.newsbreak.com/1zrn87v9
The Biden Administration Just Proposed a Rule That Could Change Work for Millions – Mother Jones, PROPAGANDA SPREADERS, LEFT OUT CRT/WOKE GIGS.
https://www.motherjones.com/politics/2022/10/biden-admin-gig-worker-misclassification-employment/
Saudis say Biden asked to hold oil production cut until after midterms
video
https://nypost.com/2022/10/13/saudis-say-biden-asked-to-hold-oil-production-cut-until-after-midterms/?utm_campaign=iphone_nyp&utm_source=com.mewe.ShareExtension
PRICE GOUGING
All Eyes on Wells Fargo, Citi and Chase
Normally, the current rising interest rate environment should be good for banks as they charge more for the loans they make. But the problem is that inflation reduces the purchasing power of households, which affects their ability to honor their loan payments. This should therefore in turn impact the banks.
https://share.newsbreak.com/1zrm4xjy
All Eyes on Wells Fargo, Citi and Chase
Normally, the current rising interest rate environment should be good for banks as they charge more for the loans they make. But the problem is that inflation reduces the purchasing power of households, which affects their ability to honor their loan payments. This should therefore in turn impact the banks.
https://share.newsbreak.com/1zrm4xjy
President Joe Biden and Democrats’ giant spending programs are making inflation worse.
https://www.breitbart.com/clips/2022/10/12/breitbarts-john-carney-democrat-giant-spending-programs-making-inflation-worse/
Exclusive — Monica Crowley: ‘Economic Collapse’ Is ‘All by Design’
https://www.breitbart.com/radio/2022/10/12/exclusive-monica-crowley-economic-collapse-is-all-by-design/
Biden hit on economy as more say finances poor: AP-NORC poll
https://share.newsbreak.com/1zrol6b6
‘The worst is yet to come’: IMF issues stark recession warning ‘Batten down the hatches’
https://www.cnn.com/2022/10/11/economy/imf-world-economic-outlook?cid=external-feeds_iluminar_newsbreak
US Inflation Spikes to 8.2%
https://www.newsmax.com/finance/streettalk/consumer-price-index-inflation/2022/10/13/id/1091689/?ns_mail_uid=3dd0100b-76f8-4f5b-a2b2-d6513009ea77&ns_mail_job=DM387665_10132022&s=acs&dkt_nbr=010502jmsbz7
LINKS: The 2023 Stock Market Collapse
The primary negative difference between now and 2009 is rampant inflation. The consumer price index monthly increase year over year since the second quarter has been at the highest level in four decades. This has sucked purchasing power out of American households as the prices of such necessities as food, fuel and clothing have risen by double-digit percentages. The price of gasoline hit a record $5 a gallon in June. As oil prices have fallen, the price has backed down closer to $3. However, OPEC+ recently said it would cut crude production sharply. Other nations cannot replace this, so gas prices almost certainly will rise again, and perhaps sharply.
https://share.newsbreak.com/1zrl1mba
New report finds 3 in 5 U.S. consumers now living paycheck to paycheck amid ongoing, record inflation
https://share.newsbreak.com/1zrp733j
Biden is trying to sway American sentiment toward the Democrats pre-election. Fails miserably as usual. Proves Democrats not only want gas prices to go up but also don't care about the American people.
https://dailycaller.com/2022/10/11/biden-admin-begged-saudis-delay-oil-production-cuts-until-days-before-election/?utm_source=piano&utm_medium=email&utm_campaign=breaking&pnespid=pOdmDX1XPf8X0OHbt2usS5LdtBKzCYBrM7W7nrVn9ARmD.qA7R9G3wPyOLkvqQ2jem_oDyQy
Walmart makes shock move amid self-checkout controversy leaving customers furious
I HATE THEM, REFUSE TO USE THEM, THEY DON'T TAKE MONEY, VIDEO YOU, ERROR. FELONY CHARGES.
WALMART has left customers furious after they removed most of their cashier checkout lanes to make room for self-checkout machines.
https://share.newsbreak.com/1zrl6sfk
With Mississippi River shipping at a crawl, farmers seeing prices for their grain falling, and consumers not seeing price breaks.
https://share.newsbreak.com/1zrpgqv2
LINKS Mississippi barge traffic is halted due to water level, to add to a TRAIN STRIKE Remember That Railroad Strike Biden Supposedly Averted? Well.
So, the clock Biden saw run down to its last 24 hours to avert a strike in September has been reset to roughly one month from now — running through November's midterms — until another scramble to avert a strike will seemingly be imminent.
https://townhall.com/tipsheet/spencerbrown/2022/10/11/the-railroad-strike-biden-averted-is-now-back-on-the-table-n2614336?utm_source=breakingemail
UK: More households and businesses expected to default on loans in coming months
https://share.newsbreak.com/1zrnja5p
FROM BAD TO WORSE:
THE RIGGED GAME INSIDER TRADING https://www.zerohedge.com/political/thousands-us-officials-trade-shares-companies-they-regulate-wsjFJB DROPS HIS CUE CARDS VIDEO Right wing conspiracists go wild over clip showing CNN helping Biden with ‘cheat sheets’ in interviewhttps://share.newsbreak.com/1zrkibg3
President Joe Biden and Democrats’ giant spending programs are making inflation worse.https://www.breitbart.com/clips/2022/10/12/breitbarts-john-carney-democrat-giant-spending-programs-making-inflation-worse/Exclusive — Monica Crowley: ‘Economic Collapse’ Is ‘All by Design’ https://www.breitbart.com/radio/2022/10/12/exclusive-monica-crowley-economic-collapse-is-all-by-design/
LINKS: The 2023 Stock Market Collapse
The primary negative difference between now and 2009 is rampant inflation. The consumer price index monthly increase year over year since the second quarter has been at the highest level in four decades. This has sucked purchasing power out of American households as the prices of such necessities as food, fuel and clothing have risen by double-digit percentages. The price of gasoline hit a record $5 a gallon in June. As oil prices have fallen, the price has backed down closer to $3. However, OPEC+ recently said it would cut crude production sharply. Other nations cannot replace this, so gas prices almost certainly will rise again, and perhaps sharply.
https://share.newsbreak.com/1zrl1mba
LINKS Mississippi barge traffic is halted due to water level, to add to a TRAIN STRIKE Remember That Railroad Strike Biden Supposedly Averted? Well.
So, the clock Biden saw run down to its last 24 hours to avert a strike in September has been reset to roughly one month from now — running through November's midterms — until another scramble to avert a strike will seemingly be imminent.
https://townhall.com/tipsheet/spencerbrown/2022/10/11/the-railroad-strike-biden-averted-is-now-back-on-the-table-n2614336?utm_source=breakingemail
Another Inflation Metric Just Smashed Through PredictionsThat is, producer inflation has not peaked and the Biden administration's frequent bragging about its work to attack or bring down inflation is just bluster that hasn't done anything to ease burdens on American companies.What's more, the increased and apparently accelerating prices for producers is likely to make the already hawkish
Federal Reserve even more aggressive in its rate hikes aimed at bringing inflation down to Chairman Jerome Powell's target of 2 percent — rate increases that Powell has admitted will bring more economic hardship for the U.S. and more pain for Americans. https://townhall.com/tipsheet/spencerbrown/2022/10/12/another-inflation-gauge-just-burned-past-predictions-n2614397?utm_source=thdailypm&utm_medium=email&utm_campaign=nl&recip=19488896
Joe Biden's America: Wholesale Prices Rise in September - "Hotter Than Expected" (VIDEO)
The producer price index, a measure of prices that U.S. businesses get for the goods and services they produce, increased 0.4% for the month, compared with the Dow Jones estimate for a 0.2% gain. On a 12-month basis, PPI rose 8.5%, which was a slight deceleration from the 8.7% in August.
Excluding food, energy and trade services, the index increased 0.4% for the month and 5.6% from a year ago, the latter matching the August increase.
Food prices helped boost the increase in goods inflation, with a 1.2% monthly increase. Energy rose 0.7% after posting massive gains the previous two months.
https://www.thegatewaypundit.com/2022/10/joe-bidens-america-wholesale-prices-rise-september-hotter-expected-video/?utm_source=Email&utm_medium=the-gateway-pundit&utm_campaign=dailypm&utm_content=2022-10-12
The Biden-Pelosi-Schumer deficits are a catastrophe
While the Biden administration brags that it “cut” the federal government’s annual deficit in half in the fiscal year 2022, the reality is that the $1.4 trillion deficit is not a triumph but a travesty.
https://www.washingtonexaminer.com/opinion/the-biden-pelosi-schumer-deficits-are-a-catastrophe?utm_campaign=Beltway+Confidential&utm_term=
BIDEN GREAT DEPRESSION 2 https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Ftse1.mm.bing.net%2Fth%3Fid%3DOIP.GLt7KXmAgGRGAtlEF5LeaQHaHa%26pid%3DApi&f=1&ipt=1e2e0237a5c7b953418dccaae3d269e3ae33e5d80852bcc19a267345fa64c0a6&ipo=images
As Biden Loses Saudi Arabia, Gas Prices to Skyrocket Again
https://amac.us/as-biden-loses-saudi-arabia-gas-prices-to-skyrocket-again/?utm_campaign=social&utm_content=224179332&utm_medium=social&utm_source=facebook&hss_channel=fbp-142161905817424
Biden Admin Offers Half a Billion Bucks to Ensure Fresh Supply of Manure
https://headlineusa.com/biden-half-a-billion-supply-manure/?utm_source=HUSAemail&utm_medium=email&utm_campaign=HUSAemail
Biden-Harris Administration Announces $2 Billion from Bipartisan Infrastructure Law to Finance Carbon Dioxide Transportation Infrastructure
https://informedinfrastructure.com/77278/biden-harris-administration-announces-2-billion-from-bipartisan-infrastructure-law-to-finance-carbon-dioxide-transportation-infrastructure/
IMF Chief Economist: 'The Worst Is Yet to Come'
“The worst is yet to come,'' said IMF chief economist Pierre-Olivier Gourinchas. Three major economies — the United States, China and Europe — are stalling. Countries accounting for a third of global economic output will contract next year, suggesting that 2023 “will feel like a recession'' to many people around the world, he said Tuesday.
https://www.newsmax.com/finance/streettalk/imf-world-economy/2022/10/11/id/1091352/?ns_mail_uid=3dd0100b-76f8-4f5b-a2b2-d6513009ea77&ns_mail_job=DM384727_10122022&s=acs&dkt_nbr=010504or13gc
S&P 500 nears 2-year low as 10-year Treasury yield climbs back toward key 4% level
https://www.cnbc.com/2022/10/10/stock-futures-are-little-changed-after-the-nasdaq-composite-closes-at-a-2-year-low.html
This Inflation Will Soon Dwarf The 1970s Breakout
https://www.forbes.com/sites/danrunkevicius/2022/10/07/this-inflation-will-soon-dwarf-the-1970s-breakout/?sh=13797626553e
Bill Gates Foundation Donated $200 Million to Expand Digital ID Surveillance System
https://www.thegatewaypundit.com/2022/10/bill-gates-foundation-donated-200-million-expand-digital-surveillance-system/
California Bites Bullet of $1.8M Per Day for Failed High-Speed Train
https://www.newsmax.com/newsfront/california-bullet-train/2022/10/09/id/1091093/
Gavin Newsom’s idiotic plan to fight high gasoline prices
https://www.americanthinker.com/blog/2022/10/gavin_newsoms_idiotic_plan_to_fight_high_gasoline_prices.html
Fed's Evans Says Fighting Inflation Is the Top Priority Even If That Means Job Losses
https://www.nbcnewyork.com/news/business/money-report/feds-evans-says-fighting-inflation-is-the-top-priority-even-if-that-means-job-losses/3900854/
Biden’s Crude Boast Falls Flat-America’s foes - and fair-weather 'friends' - have nothing but contempt
https://www.frontpagemag.com/biden-doj-weaponized-for-2022-midterms/
It’s Time To Tell Biden We Say ‘NO!’ To Nuclear War!
http://ronpaulinstitute.org/archives/featured-articles/2022/october/10/it-s-time-to-tell-biden-we-say-no-to-nuclear-war/
These were from yesterday's news.
Cash for Candy program supports American troops overseas
WHAT ABOUT US BASES? THERE IS ALWAYS A FOOD COLLECTION BOX AT THE COMMISSARY, REMEMBER FJB TOLD LOWER RANKS TO USE SNAP. AVOID SKITTLES, STILL ON THE RECALL LIST EXCESS DYE.
https://www.actionnews5.com/2022/10/10/cash-candy-program-supports-american-troops-overseas/
US economy will soon start losing 175,000 jobs a month, Bank of America warns
https://www.cnn.com/2022/10/10/economy/jobs-recession-unemployment?cid=external-feeds_iluminar_newsbreak
Stocks close lower on Wall Street ahead of earnings reports
https://share.newsbreak.com/1z0raf1d
OPEC+ Cut Will Further Raise Tensions with the West
https://www.rigzone.com/news/opec_cut_will_further_raise_tensions_with_the_west-10-oct-2022-170656-article/
Biden Signs Executive Order to Implement European Union-U.S. Data Privacy Framework
https://lawstreetmedia.com/news/tech/biden-signs-executive-order-to-implement-european-union-u-s-data-privacy-framework/
Meta warns as many as one million Facebook users that their logins may have been compromised
apps
https://www.cbsnews.com/pittsburgh/news/meta-warns-as-many-as-one-million-facebook-users-that-their-logins-may-have-been-compromised/
Biden Administration Drains the Strategic Petroleum Reserve to Its Lowest Level Since 1984
AAA says that the national average of gasoline prices is $3.910 per gallon as of Sunday, Oct. 9 for regular gasoline. A year ago the average was $3.266 for the same type. That means prices are now up almost 20% (+19.7%) in the last year. In the last month, it's up 4.6% alone.
Moreover, the average in California is now $6.335 per gallon, up 42.8% from $4.436 a year ago for regular gasoline. In the last month, it's up 18.6% from $5.34.
https://original.newsbreak.com/@mark-hake-1587739/2779471796439-biden-administration-drains-the-strategic-petroleum-reserve-to-its-lowest-level-since-1984?_f=app_share&s=a3&share_destination_id=MTcyODI5MjA3LTE2NjU0NTE3NDM3MDA=&pd=0BhAlruD&hl=en_US&send_time=1665451743&actBtn=floatShareButton&trans_data={"platform"%3A1%2C"cv"%3A"22.39.5"%2C"languages"%3A"en"}
US Sells Oil from Emergency Reserve to Marathon, Equinor, Others
https://pgjonline.com/news/2022/october/us-sells-oil-from-emergency-reserve-to-marathon-equinor-others
links Bitcoin price slides, Ether drops with rest of crypto top 10, XRP leads losses
https://forkast.news/headlines/markets-bitcoin-price-slides-ether-drops-with-rest-of-crypto-top-10-xrp-leads-losses/
Pharmacies Are Closing Throughout the U.S.
Whether this is the beginning of a larger, more widespread issue remains to be seen.
read the comments
https://share.newsbreak.com/1z0tjibr
Record-high turkey prices, other expensive staples expected this Thanksgiving
https://share.newsbreak.com/1z0suxyh
links Stocks close lower on Wall Street ahead of earnings reports
https://share.newsbreak.com/1z0raf1d
UK Cost of living: Disabled man tells of winter food price fears
https://www.bbc.com/news/uk-england-merseyside-63200412
Democracy is great ea? https://frederickrsmith.substack.com/p/democracy-for-dummies-5c7