The city of Los Angeles declared a state of fiscal emergency amid a $1 billion deficit. The council approved of the emergency declaration unanimously in a 14-0 vote. This comes after Mayor Karen Bass approved a $14 billion budget for the fiscal year that began on July 1. The city is a prime example of […]
The dollar is “unattractive.” At least that’s how UBS sees it. In a recent note, the Swiss investment bank said it is time to “reduce and hedge exposure to USD before further dollar declines.” The dollar has weakened significantly over the last six months, with the dollar index (DXY) falling by over 10 percent so far […]
The PYMNTS Intelligence report “Financial Lifestyles Shape Credit Reliance” revealed that American consumers are struggling to afford the basic essentials. Prices have been elevated since the worldwide pandemic shutdown the global economy and have not gone down in a meaningful way. The study found that 43% of American households who are a paycheck away from poverty […]
Why are thousands of Walmart workers suddenly “vanishing” all over the nation? And why are vast numbers of agricultural workers suddenly no longer showing up for work? What I am about to share with you is extremely alarming. During the “open border years”, our economy became extremely dependent on very cheap migrant labor. Now that […]
New York City’s far-left mayoral candidate Zohran Mamdani is the human embodiment of the WOKE Socialist agenda. His “progressive” views are based on policies that have failed countless times. Mamdani’s most recent proposal has sparked controversy as he believes that predominantly white neighborhoods should pay higher taxes. Socialists feed on increased taxation to support the […]
NYC is poised to elect a Zohran Mamdani, socialist madman. Here’s what to expect. Greatest Comeback Surprise in History A week ago, Polymarket betting odd were over 80 percent for former NY governor Andrew Cuomo and under 10 percent for Mamdani. On May 27, Cuomo was over 90 percent. But Mamdani won the primary and […]
While everyone has been preoccupied with the war in the Middle East and the anti-ICE protests going on around the nation, economic conditions in the U.S. have continued to deteriorate. The housing market is in abysmal shape, consumer spending is down and layoffs are way up. Meanwhile, fear of our seemingly endless cost of […]
At this week’s NATO summit in The Hague, leaders announced an alarming new goal: push military spending to 5% of nations’ GDP by 2035. Framed as a response to rising global threats, particularly from Russia and terrorism, the declaration was hailed as a historic step. But in truth, it represents a major step backwards – away from addressing the urgent needs […]
Substituting debt for earnings while enriching the rich will bear bitter fruit. Climbing above the craziness of the Normalized Now news flow to view the economy from a quiet, windswept peak helps clear the mind of clutter. The entire economy–and its future–can be distilled down to four charts that tell the underlying story of the U.S. economy over […]
The U.S. national debt recently topped $37 trillion. This comes to over $323,000 for every U.S. taxpayer. What’s more, $37 trillion amounts to a debt to gross domestic product (GDP) ratio of over 123 percent. For perspective, the debt to GDP ratio was just 57 percent in the year 2000. Less than half of today. […]