Commentary A massive inflationary storm is on its way in this country. It’s bad now, but it’s only going to worsen sooner than later. Why would this be? There are several factors, but the biggest factor is the war. Not the war in Ukraine, but rather the war against the dollar. There are many moving…
Federal Reserve Warns Stablecoins May ‘Lose Value’
The increasing use of stablecoins—cryptocurrencies which try to offer price stability by pegging their market value to a reserve asset—has triggered concerns at the Federal Reserve, with the central bank’s latest financial stability report warning that these digital assets are “prone to runs.” “Stablecoins typically aim to be convertible, at par, to dollars, but they…
US Gasoline Prices Hit New Record High
Gas prices in the United States hit a record high on Tuesday as crude oil continues to remain above $100 per barrel, with some states seeing prices above $5 per gallon. The average price for regular unleaded gas on May 10 was $4.374 per gallon, beating the earlier record of $4.331 per gallon set on…
Elon Musk Says He’ll Lift Trump’s Twitter Ban After Deal Closes
Elon Musk on Tuesday suggested he would lift Twitter’s ban on former President Donald Trump after closing a deal to purchase Twitter and take it private. Musk, who is the CEO of Tesla and SpaceX, said it was a mistake for Twitter to suspend the former president’s account in early 2021. When asked point-blank virtually during…
Wikipedia Deletes Page of Top US Senate Candidate
May 10, 2022
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2022 Midterm ElectionsBig Tech, Censorship, and SocialismBusiness & EconomyCompaniesFeatured TopicsMedia & Big TechPennsylvaniaPoliticsUSUS NewsWikipedia
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Wikipedia editors deleted a page for Republican U.S. Senate candidate Kathy Barnette after arguing she is not a notable person. Barnette’s page was later restored, but could be deleted at any time, editors said. Discussion was triggered in April 2021, when an editor said that the references on the page “do not establish notability beyond…
Inflation and Household Spending Expectations in the US Remain High: Fed Survey
May 10, 2022
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Business & Economyconsumer expectationseconomyFederal Reservehigh inflationhousehold spendinginflationUS
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Consumer expectations regarding inflation and household spending remained at elevated levels in April 2022 according to a recent survey by the Federal Reserve Bank of New York’s Center for Microeconomic Data. “Median inflation expectations decreased in April at the one-year horizon to 6.3 percent from 6.6 percent in March. In contrast, median three-year-ahead inflation expectations…
Stocks Fall Further on Wall Street a Day After Big Sell-Off
NEW YORK—Stocks shed early gains and fell in afternoon trading on Wall Street Tuesday as the market remains shaky a day after a broad sell-off. The S&P 500 fell 0.8 percent as of 12:31 p.m. Eastern. The benchmark index was up as much as 1.9 percent in early trading. It slumped 3.2 percent a day earlier, hitting…
Investing Lesson of Math Learned the Hard Way
Commentary The one investing lesson that every investor must learn in surviving the long game is how math works. I recently received an email from a reader suggesting that the 2021 decline in the market is “no big deal” because of the stellar returns over the last decade. He quoted a snippet of an article…
FDA ‘Taking Number of Steps’ to Address Nationwide Baby Formula Shortage: Psaki
The Food and Drug Administration (FDA) is working “around the clock” to address the shortage of baby formula in the United States, White House press secretary Jen Psaki said on May 9. Psaki’s announcement comes as stores across the United States have been struggling to stock infant formula amid supply chain issues and a number of recalls…
UK Government Vows to Revive Economy as Agenda Unveiled in Queen’s Speech
May 10, 2022
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Boris JohnsonBusiness & Economyeconomic policieseconomyKeir StarmerPrince CharlesQueen ElizabethUKWorld
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The UK government has said it will focus on growing and strengthening the economy in the year head, as it spelt out its legislative agenda in the Queen’s Speech. Prime Minister Boris Johnson used the Queen’s Speech, delivered by Prince Charles in the House of Lords on May 10, to set out plans for changes…
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