READY FOR MORE INFLATION, JOB LOSSES, IMPORTED WORKERS? BIDEN-HARRIS-WALZ.
You can no longer separate the three. 400,000 jobs were lost last quarter. Fast-tracking Democrat-leaning illegals.
Businesses Are Replacing Laid-off U.S. Workers With Offshore Employees, Study Reveals. ResumeBuilder.com’s latest research showed that 30 percent of companies that had a recent round of layoffs replace U.S. workers with offshore ones while 24 percent of companies with recent layoffs “plan to terminate and replace U.S. employees with offshore workers in 2025,” the report’s authors said.
Cisco To Lay Off Around 4,000 Employees: Report. 29,000+ ACROSS THE SPECTRUM, MORE TO COME AS BUSINESSES CLOSE. Cisco will reportedly lay off around 4,000 employees in its second round of job cuts this year as the world’s largest networking company doubles down on artificial intelligence.
Federal government hastily processing new citizenship requests is 'reshaping the electorate:' report. "The surge in naturalization efficiency isn’t just about clearing backlogs; it’s potentially reshaping the electorate, merely months before a pivotal election," Xiao Wang, chief executive of immigration assistance organization Boundless, said. The Times described the organization as "a company that uses government data to analyze immigration trends and that offers services to immigrants who seek professional help in navigating the application process."
Wang added that "every citizenship application could be a vote that decides Senate seats or even the presidency."
The New York Times reported on research claiming that groups of immigrants that have "historically leaned Democratic" are being granted citizenship and voting rights at the fastest rate since the Trump Administration. Chaos at America’s southern border has been one of the key topics in recent years, including speculation about whether the Democratic Party has used immigration to gain voters.
Wang added that "every citizenship application could be a vote that decides Senate seats or even the presidency." Earlier in August, past comments from Kamala Harris' 2019 campaign website came to light, having linked to a study touting what it called the electoral benefits of not deporting some illegal immigrants, saying that the policy "could provide sizable contributions to the margin of victory in swing states." "The surge in naturalization efficiency isn’t just about clearing backlogs; it’s potentially reshaping the electorate, merely months before a pivotal election," Xiao Wang, chief executive of immigration assistance organization Boundless, said. The Times described the organization as "a company that uses government data to analyze immigration trends and that offers services to immigrants who seek professional help in navigating the application process."
The Unwelcome Return of Food Inflation. The producer price index (PPI) for food rose 0.6 percent in July, the biggest increase since February. Annualized, this amounts to a 7.6 percent rate of food inflation. The index tracking finished consumer foods also rose by 0.6 percent following a 0.4 percent increase in the prior month. There were some very steep increases in prices that American families likely noticed in July. The prices of fresh fruits and melons jumped 10.3 percent. Beef prices jumped 7.7 percent. Pork prices rose 1.8 percent. Coffee prices percolated up 3.3 percent. The cumulative effect has been devastating. Since Biden took office, the producer price index for food sold to consumers is up 26 percent. That’s five times as much inflation as we saw during Donald Trump’s White House tenure.
Tyson Plant that Employed 25 Percent of Iowa Town's Workers Shuts Down. The largest employer in Perry, Iowa, has shut down, and the decision to do so has significantly impacted the entire town. “The Tyson plant employed about 25% of Perry’s working-age residents before it shuttered, according to city and county officials. Accounting for workers’ families and businesses directly related to the plant, about 60% of the town is affected by the closure,” the outlet said. With a population of 7,660. The median age stands at 38.9, with 47% of individuals aged 15 or older being married and 42% having children under 18. In terms of income equality in Perry, 26% of households report a median income below $25,000, while 4% report an income exceeding $150,000, showcasing a diverse economic landscape.
California is ‘going bust,’ warns Robert Kiyosaki – who predicted 2008 Lehman collapse. “California will begin raising taxes and cutting subsidies to the poor, to prisons, environmental problems, and teachers unions. That means crime will spread as police will be cut. Since California is a Bell Weather state and is going broke, which states will follow?” he wrote in the post. Earlier this year, more than 86% of business owners in California said that crime has increased in their area, while 67% from the same survey claimed to be considering moving their headquarters out of the Golden State, according to RedBalloon and PublicSq.’s February Freedom Economy Index. “You know, I think it’s interesting that one of the greatest entrepreneurs of our time, Elon Musk, is leaving. What does that tell you?” he asked.
Home Depot issues a warning about the economy. Home Depot’s sales at stores open at least a year dropped 3.6% last quarter, the company said Tuesday. It expects sales at stores open at least 12 months to fall between 3% and 4% this year compared to last year. That’s down from its earlier estimate that sales would fall about 1% by that measure.
Americans running out of disposable cash. The trend is even worse for the American households that represent the lowest 80% by income, who saw their assets rise less sharply and depleted their excess savings more quickly. That has left their liquid assets about 13% lower than the projected path of their finances before the pandemic. That development comes as credit card delinquencies among middle- and low-income families rose earlier, faster and to "notably higher" rates than those of high-income families, the research found.
Americans cut back on big-ticket items as inflation bites. Video.
13 Basic Necessities Middle-Class Americans Cannot Afford Anymore Due to Inflation. I disagree with some items, that can be done without. Eating out, Cable, vacations, club memberships, don’t travel unless it’s a necessity. Learn some DYI on home repairs. Our old 13 cubic foot freezer was acting up. It is full. Lowe’s wanted $650 for a Chinese brand, $29 for delivery, $50 for haul away, and No Military discount. I said NO! and we went home, and ordered a $10 timer from Amazon. Took 15 minutes to install a plug-in timer with 1 screw. What you can’t do without is Transportation. The U.S. Department of Transportation reveals that transportation is the highest annual consumer expenditure, accounting for $12,295 annually. That includes car purchases, gas, and maintenance costs. The lower middle class may be unable to drive frequently or cover maintenance costs in coming years due to the rising costs. Again some DYI can save money. Wash your car, and change the wiper blades. And learn how to cook, plenty of DYI vids on YT. Do some reading. The Great Depression TV won’t tell you the facts, it’s an election year.
VP Harris hopes you forgot this. Kamala Harris cast the decisive vote to strengthen tax enforcement on gratuities in the hospitality industry, resulting in the IRS implementing a tip reporting program. Now, she champions a "No Tax on Tips" initiative, echoing a proposal originally made by President Trump during his campaign. Video. Kamala Harris shamelessly stole President Trump’s ‘no tax on tips’ idea. Harris has zero policies on her campaign website because the majority of the American people are unhappy with crippling inflation and open borders thanks to the Biden-Harris Regime. What the fake news media is not reporting is that Kamala Harris cast the tie-breaking vote to let the IRS track workers’ tips to be taxed! “Two years ago today, I proudly cast the tie-breaking vote to pass our Inflation Reduction Act,” Kamala Harris boasted last week on Facebook.
Consumers saying "enough's enough" is helping to tame inflation. The price tracker is based on data released by the U.S. Bureau of Labor Statistics for food, household goods and services and Zillow for rent and home-purchase prices. Every chart notes, and links to, the source of the original data. In the case of recurring household costs, rents and home sales, the 2024 data cited is current through last month and it is compared to the same month in prior years dating back to 2019. Charting year-by-year prices you pay. Hover over the charts to see the price of average price of items nationwide as of the end of July LARGE CHART.
Job Security Concerns Grow as Probability of Finding New Employment Dips. A New York Fed survey shows rising job insecurity and growing debt concerns, signaling increasing challenges for US consumers. The latest survey by the Federal Bank of New York reveals growing job insecurity among Americans, coupled with a surge in debt-delinquency expectations, reaching their highest level since the pandemic. These developments indicate mounting challenges for U.S. consumers and signal potential trouble ahead.
Large corporations expect to make more layoffs in the coming months. More layoffs are coming for major businesses and corporations this year. The layoffs are expected for a wide variety of industries too. Worldwide tech companies including Google and Microsoft will make cuts and so will retail businesses including Nike and Amazon. Even finance leaders like BlackRock and Goldman Sachs say their workforce will shrink soon. A survey conducted in December last year by ResumeBuilder found that almost 40% of business leaders were anticipating layoffs in 2024. Half of those surveyed also believed a recession was possible. Vance Ginn, President of Ginn Economic Consulting, said a slowing economy is largely to blame. "You see businesses have higher costs due to inflation and at the same time consumers are cutting back so there's less demand for their product," he said. As people start to run out of money in their savings, they're also taking on more debt. Inflation, of course, is still a major factor too.
98% of Financially Strained Restaurant Customers Are Cutting Back. Specifically, 98% of those who live paycheck to paycheck with issues paying bills said they have taken actions to cope with price increases when purchasing from restaurants. Ninety-five percent of those who live paycheck to paycheck without issues paying bills said the same, as did three-quarters of those who do not live paycheck to paycheck. Meanwhile, 97%, 92%, and 73%, respectively, said they have taken actions to cope with inflation for retail product purchases, and 96%, 94% and 72% said the same of grocery products.
Harris plan to nix taxes on tips, raise minimum wage could cost up to $200 billion: Analysis. VP Harris’s proposal to nix taxes on tips and raise the federal minimum wage could cost up to $200 billion over a decade, a budget watchdog estimated in an analysis. The Committee for a Responsible Federal Budget (CRFB) estimated Monday that exempting tip income from federal income, as well as increasing the minimum wage, could add between $100 billion and $200 billion to the nation’s deficits in a 10-year window. ASK GOV. NEWSON WHAT RAISING MIN. WAGE TO $20 DID TO CALIFORNIA? HOOVER INSTITUTE. California Loses Nearly 10,000 Fast-Food Jobs After $20 Minimum Wage Signed Last Fall.
Top Wall Street exec predicts ‘social unrest’ due to AI: ‘Millions of people could be out of jobs’ “Millions of people could be out of jobs. So who’s going to retrain those people?” Panossian told Bloomberg News. “And we will be forced as a society to either have social unrest or have a welfare state,” he added. Last year, Goldman Sachs warned generative AI — which is trained on different sets of data to learn pattern recognition — could impact as many as 300 million full-time jobs globally.
A 2017 report by consulting firm McKinsey estimated that up to 800 million jobs worldwide could be automated by 2030 — resulting in somewhere between 400 million and 800 million people needing to either change jobs or acquire new skills. “The risk is if we don’t do anything about it now to retrain some of these people or to prepare for a post-AI employment landscape, we’ll have issues with a deepening divide between the haves and have-nots, the wealthy and the paycheck-to-paycheck people,” Panossian said.
How retailers are tricking consumers into splashing more cash. 'Retailers often [decide what to stock] based on historical figures and various internet searches and industry trends and reports,' Smith told the Detroit Free Press in 2023. 'AI is replacing this in my opinion. Holidays such as Halloween are huge revenue generators for retailers.' Halloween is a popular holiday, and US shoppers were expected to spend more than $12 billion last year on candy and decorations, an all-time high. 'It's a holiday that combines retail and entertainment — the ultimate spending combination,' Jadrian Wooten, Virginia Tech professor of economics, told Radford News Journal this month.
GREEN DEAL: We are wasting $2 trillion a year chasing ‘green’ fantasies. Despite much hype, the much-vaunted green energy transition away from fossil fuels isn’t happening. Achieving a meaningful shift with current policies turns out to be unaffordable. We need to drastically change policy direction. Globally, we are already spending almost $2 trillion annually to try to force an energy transition. Over the past decade, solar and wind energy use has increased to their highest-ever levels. But it hasn’t reduced fossil fuels — on the contrary, we have added even more fossil fuels over the same time. In other words, policies meant to boost green energy are leading to more emissions.
Fed cutting rates before September like 'yelling fire in a crowded theater'. Many argue the Federal Reserve missed the boat after failing to cut rates to ease financial conditions two days before the latest jobs report triggered a recession indicator on Friday, Aug. 2. The Federal Open Market Committee is not scheduled to meet again until Sept. 17-18. Now, experts are making the case for deeper rate cuts in light of rising unemployment. Some are even suggesting the Fed issue an emergency rate cut between now and the September meeting.
Will the Stock Market Soar If the Fed Cuts Rates in September? Here's What History Shows. The Fed has lowered interest rates 28 times so far this century. These rate cuts came in spurts on six occasions. In early 2001, the Fed began a series of 11 rate cuts. At first, these cuts were primarily due to the U.S. recession following the dot-com bubble burst. The terrorist attacks on Sept. 11, 2001, provided another catalyst for Fed action. How did the stock market respond? Not too well.
IS YOUR FOOD SAFE? OR IS IT MORE GREEN BOLOGNA, BOTH! Silk and Great Value plant-based beverages A third person has died in connection with an outbreak of listeria linked to recalled plant-based refrigerated beverage products, according to the Public. Hundreds of ingredients in U.S. foods are potentially unsafe The FDA has taken a hands-off approach when it comes to food additives by not requiring proof that they are safe for consumption. Food and drink items that are highly restricted or banned in the US Stacker explores snacks and other food items banned in the U.S. From tasty cheeses to the famed Scottish dish haggis, these 30 foods aren't welcome in most of the United States. LOL THERE ARE TWO AISLES OF CHIPS AND SODAS. While I do agree they are not healthy and have too many transfats, fructose, sugar, or salt. What you choose to eat is your business, not the government’s. Add in Sodas, as they are on the list, oh, and your business. Trying to eat healthy, and weigh a normal weight, instead of 400 lbs with heart, Type 2 diabetes, and cancer, is your choice. Eating in moderation works best. Treats should be just that.
Illicit drugs shipped in our food: Atlanta DEA seizes 2,380 pounds of meth hidden in celery at farmer’s market. CLAYTON COUNTY, Ga. — The Drug Enforcement Agency in Atlanta has seized 2,380 pounds of methamphetamine smuggled into the state by a Mexican drug cartel in the largest meth bust on record. It’s the largest-ever seizure of meth made by the DEA in Atlanta, and the third largest nationwide in 2024. Channel 2′s Tom Regan spoke to DEA agents, who said a cartel recently smuggled the massive load across the border in a 16-wheeler.
Millions of illicit cannabis packages disguised as children's candy seized in California. A recent operation in California uncovered more than 2.2 million pieces of fake cannabis packaging that officials say was being used to sidestep the state’s legal cannabis requirements. In a press release, California Gov. Gavin Newsom's office announced a recent sting operation in the Los Angeles Toy District led to the seizure of over 2 million cannabis packages illegally marked with a forged California seal, undermining the safety and integrity of the state’s regulated cannabis industry. Officials said most of the illegal packaging was designed to mimic popular food and candy items that could appeal to children.
DO YOU WANT MORE DEPRESSION PRICES OR A CHANGE BACK TO MEAN TWEETS AND $1.79 GAS? CHANGE YOUR FEDERAL GOVERNMENT LEADERS.
Inflation rises to 2.2% for first time this year in blow to interest rate cut next month. Rise likely spells end for any hopes for further rate cut in September
https://www.independent.co.uk/news/business/inflation-bank-of-england-interest-rates-cut-b2596050.html
Egg prices continue to soar by nearly 20%, new inflation data shows
https://abcnews.go.com/amp/GMA/Food/egg-prices-continue-soar-20-new-inflation-data/story?id=112833521
Slow and steady may win the race for a tortoise vs. a hare, according to Aesop's Fables. However, in reality, this turn of phrase does not ring true when applied to the gradual climb of consumer prices, especially with the latest exorbitant cost increases on items like eggs. Egg prices soar nearly 20% since last year. EGGS, MEAT, CEREAL, BREAD AND MILK. HAVE TOO.
Consumer prices rise in latest federal inflation data
https://www.thecentersquare.com/national/article_1d9cd698-5a3b-11ef-8ad8-f3388d5507a4.html
Inflation has slowed significantly since its peak increase earlier in the Biden-Harris administration, but prices still remain elevated.
The latest CPI increase comes after a 0.1% decrease in June. BLS said that shelter cost increases accounted for 90% of the increase.