Free Republic

Governor Kathy Hochul announced that a $2.3 billion tax-funded grant in redevelopment contracts for JFK International Airport has been awarded exclusively to minority and women-owned business enterprises (MWBE). MWBE stands for Minority/Women-Owned Business Enterprise. It’s a certification issued by the state that gives developmental benefits to businesses that are primarily owned and operated by a woman or a person who is at least 25% African American, Asian, Hispanic, or Native American. If the business is publicly traded, the stock must also be at least 51% minority-owned. The move, which marks the largest participation of MWBE firms in any public-private partnership...

Never forget the wild ride the so-called “experts” and elites took us on during the COVID pandemic—all in the name of safety and health. They scared everyone half to death and had us doing the most absurd things, making us look like fools. Remember the COVID “crop circles”? As if sitting six feet apart could magically save you from an airborne virus. It’s unbelievable that so many people bought into this nonsense, but they did—and in droves. And then there were those “arrows” in grocery stores, implying that if you just followed the direction, you’d magically dodge the virus. People...

Biden, talking to CNN’s Erin Burnett, made light of America’s struggles with Bidenflation (higher home prices, higher mortgage rates, higher energy and food costs, higher …) caliously saying that “they can afford it.” Well Joe, your big donors (the top 0.5% can afford it! But not the middle class that you have abandoned. In fact, much of America has drained their savings and run up massive debt to cope with your terrible economic policies. The amount of credit card debt across the US has hit a new record high of $1.337 trillion (even though it appears to have finally hit...

As the U.S. economy slows down, those at the bottom of the economic food chain are being hit the hardest. Homelessness is surging, the number of Americans living in poverty is rising, and more Americans are considered to be among “the working poor” than ever before. Unfortunately, we are witnessing a historic economic shift right now, and economic conditions are only going to get even more harsh during the months ahead. Needless to say, that is really bad news for all of us. According to a report from Harvard University, approximately 650,000 Americans were homeless at some point last year....

Russia is threatening to strike British military facilities and has started practicing the use of nuclear weapons. A threatening statement released by the Kremlin stated that "British military facilities may be targeted" by the Russian army. A similar threat was also directed at France. The threats from Russia come after statements by French President Emmanuel Macron and British Foreign Secretary David Cameron, who expressed support for Ukraine's right to use British weapons in the war with Russia, and Macron did not rule out the possibility of deploying French troops to assist Ukraine in the war. In addition, the Kremlin announced...

Vermont Business Magazine Champlain Housing Trust announced an expansion of its program that provides a $25,000 forgivable loan to buyers who are Black, Indigenous or people of color and who are buying a permanently affordable home through the trust or its partner agencies across the state. Originally operating in the northwest part of the state, the Homeownership Equity Program (HEP) Downpayment Assistance will now be available through nine partner organizations covering every county of the State. The program was created with a three-year grant from the New England Federal Credit Union in 2021. The expansion of the program is funded...

Biden and Bidenomics is disastrous for the middle class and low wage workers. Food and housing prices through the roof, and now we have mortgage purchase demand declining -57% under Biden. Mortgage applications increased 2.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2024. The Market Composite Index, a measure of mortgage loan application volume, increased 2.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3 percent compared with the previous week. The seasonally adjusted...

Former head of Israel's National Security Council, Maj.-Gen. (res.) Giora Eiland was interviewed last Wednesday on Israel's Radio 103FM, where he strongly criticized the Biden administration for its policy positions concerning the Gaza war. The interview included several dramatic statements from the former security chief, including his statement, “The U.S. is much more with Hamas than with us.” According to Eiland, the U.S. and Israel only see eye to eye on one issue in the Gaza War: The hostages. “The United States is with us on only one issue – the hostages,” Eiland told hosts Ben Caspit and Aryeh Eldad....

The Federal Reserve is stuck between a rock and a hard place. If the Fed pushes rates higher, interest payments on our 34 trillion dollar national debt could spin wildly out of control and bank balance sheets will be in even worse condition than they are now. First Republic just bit the dust, and literally thousands of other small and mid-size banks and in serious jeopardy. So it would be suicidal to hike rates at this point. But if the Fed were to reduce rates, that would be like injecting jet fuel into a raging fire. Our ongoing inflation crisis...

The unbroken string of economic disasters that is Bidenomics now has a solid explanation. Jared Bernstein, the Chairman of the President's Council of Economic Advisers doesn't understand economics. While being interviewed for the newly released documentary Finding the Money, he was unable to explain how the Federal Reserve creates money--something I taught to freshmen in macroeconomics classes for 23 years. "The government definitely prints money, and it definitely lends that money by selling bonds," Bernstein guessed. "Is that what they do? They sell bonds, yeah, they sell bonds. Right? Since they sell bonds, and people buy the bonds and lend...

Anew report claims that the Biden Administration is attempting to implement federal regulations that will be difficult to reverse by a future president, as polls increasingly suggest that Joe Biden will lose the November election to former President Donald Trump. According to the Daily Caller, the report says that President Trump plans to sign multiple resolutions under the 1996 Congressional Review Act if he wins a second term, aimed at reversing many of Biden’s regulations. In response, officials in the Biden White House are examining methods to make regulations more permanent or harder to undo. “They’re all looking back to...

San Francisco's well-publicized homelessness crisis is emblematic of the problems facing many of America's big cities as they struggle to provide affordable housing against the backdrop of high interest rates and low inventory. This has led the city to employ a variety of methods to tackle the problem, but a recent plan to provide tiny houses for San Francisco's homeless population has residents furious over the cost. The units would cost a reported $113,000 each to construct. Considering that the average home in San Francisco costs nearly $1 million the $113,000-per-unit cost for the tiny houses seems in line with...

Lightning strikes TWICE! One year after regional banks crashed and burned due to the combination of tumbling debt/treasury prices coupled with cratering commercial real estate loans, fears about the current state of Commercial Real Estate – where most offices still see tenants at best 3 to 4 days a week and are literally burning through rents – appear long forgotten. Is that sensible? For one answer, we turned to the latest report from Goldman’s REIT/CRE expert Chandhi Luthra who has published a visual assessment of the state of CRE in 2024 in terms of loan maturities, 2023 extensions, and property...

It's high time we addressed a growing concern in the restaurant industry: portion sizes and the rise of "Fat-flation." Somewhere along the line in American culinary history, the amount of food served in restaurants became a point of pride for many of us. We'd either polish off every last morsel on our plates, take home leftovers, or sadly, let them languish in the fridge for days before tossing them out. What a waste. After four decades of Americans packing on the pounds, and all the health issues that come with it, it's clear we need a change. Both restaurants and...

Perhaps Fed Chair Jerome Powell was listening to Prince’s “Let’s Go Crazy!” Because The Fed went crazy with money printing to counteract the shutdown of the US economy in 2020. The US jobs market peaked in February 2020 under Trump at 152,309,000. Then COVID struck in March 2020 and the US economy lost almost 10 million jobs by December 2020. But when the fear ebbed and the economy opened back up, it took until June 2022 to recover the lost jobs. But since June 2022, the US economy has added almost 6 million jobs (many are part-time jobs and taken...

From CNN: There were about 3.6 million babies born in 2023, or 54.4 live births for every 1,000 females ages 15 to 44, according to provisional data from the US Centers for Disease Control and Prevention’s National Center for Health Statistics. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ You can look at this however you'd like but there is an underlying and very-seriously negative problem in here that nobody wants to acknowledge: If we do not address not only the rate but the balance of who's having kids and what they're inculcating in those kids we're screwed, and we do not have years or decades to...

As a seasoned restaurant consultant deeply entrenched in the industry, I've got my finger on the pulse of what's happening. Running a restaurant has always been a tough gig. Everyone seems to think their family recipe will turn into a gold mine, but sadly, it's not just about the quality of Grandma's lasagna. There are myriad challenges to navigate in this business. From securing the right location and talent to nailing down a winning concept, dealing with everything from theft to insurance, not to mention the endless stream of fees, licenses, and paperwork, the restaurant industry can nickel and dime...

Stop! Stop! Stop! … all the printing! These people have to be stopped! We are talking about the nation’s unhinged monetary politburo domiciled in the Eccles Building (The Federal Reserve), of course. It is bad enough that their relentless inflation of financial assets has showered the 1% with untold trillions of windfall gains, but their ultimate crime is that they lured the nation’s elected politician into a veritable fiscal trance. Consequently, future generations will be lugging the service costs on insuperable public debts for years to come. For more than two decades these foolish PhDs and monetary apparatchiks drove the...

“Trade Compliance” is a subset of regulatory compliance, focused primarily on export controls and the Customs rules concerning importing and duty assessment. Outside of the occasional discovery of illegal Chinese copies of branded gym shoes, or the even rarer news story about a company caught selling technology to the Iranians or North Koreans, this specialty rarely makes the mainstream news. An exception occurred as April, 2024 came to an end: the Federal Trade Commission announced a record fine against an American retail chain, Williams-Sonoma, and its subsidiaries (including Rejuvenation, Goldtouch, and the Pottery Barn family), for violations of the FTC’s...

15-year-old Matisse tragically met his end when an Afghan migrant, previously arrested for violent crimes, fatally stabbed him in the heart, while his own mother joined in, mercilessly slapping the defenseless victim as he lay dying on the pavement. In a case that has sent shockwaves across France and reignited the contentious immigration debate, the gruesome murder of 15-year-old Matisse, who was stabbed to death by an Afghan migrant in Châteauroux with the help of his mother, has taken a chilling turn with the emergence of disturbing new details. The alleged perpetrator, a teenage Afghan migrant with a history of...