North Korea, fraud, and financial losses are some of the dangers emanating from the cryptocurrency industry, according to a White House blog published on Jan. 27. It argued for enhanced oversight of cryptocurrencies more broadly, requesting help from financial regulatory bodies and Congressional lawmakers. The blog—co-written by national security adviser Jake Sullivan, National Economic Council Director Brian…
White House Targets Cryptocurrencies, Calls for Stronger Enforcement by Regulators
January 29, 2023
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Fuel Costs of Electric Vehicles Overtake Gas-Powered Cars: Study
January 28, 2023
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The cost to fuel electric vehicles in the United States is higher than gas-powered cars for the first time in 18 months, a consulting company said. “In Q4 2022, typical mid-priced ICE (Internal Combustion Engine) car drivers paid about $11.29 to fuel their vehicles for 100 miles of driving. That cost was around $0.31 cheaper…
IRS Says Millions of Americans Don’t Realize They Are Eligible for Tax Credit
The Internal Revenue Service (IRS) has issued a reminder that millions of Americans are eligible for a tax credit that last year averaged over $2,000 but 20 percent of those entitled to the money didn’t claim it. “This is an extremely important tax credit that helps millions of hard-working people every year,” IRS Acting Commissioner…
IRS Says Millions of Americans Don’t Realize They’re Eligible for Tax Credit
The IRS has issued a reminder that millions of Americans are eligible for a tax credit that last year averaged more than $2,000, but 20 percent of those entitled to the money don’t claim it. “This is an extremely important tax credit that helps millions of hard-working people every year,” IRS Acting Commissioner Doug O’Donnell…
World Economic Forum ‘Risk Management’ Report Takes Aim at Energy and Food
January 28, 2023
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The climate and social justice movement is seeking to rebrand itself from a progressive ideology to a prudent tool for risk management. This not only allows it to frame its bleak vision of the future as a safety measure; it also allows its corporate and Wall Street adherents to claim they are not pursuing a…
Americans Fall Behind on Car Payments at Highest Rate Since 2009
January 28, 2023
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More Americans are falling behind on their car payments at the highest rate since the Great Recession over a decade ago. A combination of the Federal Reserve’s interest rate hikes and high inflation has taken a toll on car owners nationwide. A rise in auto repossessions has been sweeping the country, a bad sign for…
A Tale of Two Countries: Lessons Australia Should Learn From Argentina
January 27, 2023
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Commentary A survey by JP Morgan reveals that Australia’s business leaders are “cautiously optimistic about the economy,” while almost half expect a recession in 2023. It also points out that energy prices “continue to weigh on Australian businesses.” Similarly, the Reserve Bank of Australia indicated in November 2022, that the “prospects of a significant slowing…
Biden Announces 20-Year Ban on Mining in Minnesota, Undermining Nation’s Mineral Security
January 27, 2023
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The Biden administration has announced that it will impose a 20-year mining moratorium on thousands of acres of land in Minnesota by citing the need to protect the natural environment, potentially dealing a blow to Twin Metals, a major mining firm with interests in the region. The move has attracted criticism from mining associations and…
Against Biden Admin Wishes, House Votes to Limit Strategic Petroleum Reserve Release
January 27, 2023
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After a lengthy debate over numerous amendments, and despite the Biden administration’s promise of a veto, the Republican-controlled House of Representatives passed a bill on Jan. 27 limiting the Biden administration’s ability to draw from the nation’s oil stockpile. First introduced on Jan. 26, the Strategic Production Response Act passed 221–201. The measure is unlikely to clear…
Fed’s Preferred Inflation Gauge Shows Underlying Price Pressures Rising
A key inflation gauge closely tracked by the Federal Reserve showed that underlying price pressures increased in December while consumer spending declined, suggesting that inflationary pressures could take longer to dissipate and that the economy faces headwinds as shoppers retrench. Government data released on Jan. 27 by the Department of Commerce showed that the so-called core Personal…
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