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Keyword: economy

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  • Biden Says Trump Administration Deserves 'No Credit' for Economic Recovery

    06/05/2020 12:40:44 PM PDT · by jazusamo · 23 replies ^ | June 5, 2020 | Reagan McCarthy
    Former Vice President Joe Biden addressed the job and unemployment numbers released on Friday afternoon in a livestream from Delaware. In a shocking glimpse of recovery, the economy added 2.5 million jobs in May and the unemployment decreased to 13.3 percent. While these shocking numbers should instill hope for economic recovery, Biden used them to criticize the Trump administration. Biden, who has spent much of the last few months in the basement of his Delaware home, claimed that President Trump is hiding in the bunker, and that the president cannot take credit for the positive economic numbers because “only...
  • Is America headed for a post-apocalyptic currency collapse?

    06/05/2020 10:46:10 AM PDT · by Roman_War_Criminal · 27 replies
    fxstreet ^ | 6/3/2020 | Stefan Gleason
    Just when it seemed as though America may be turning the corner after months of lockdown… just when it seemed as though we were on a path to reopening and gradually returning to normalcy… just when the prospects of panic-induced social unrest seemed to be behind us… …America’s cities erupted into flames. Antifa and BLM-organized rioting, looting, violence, and mayhem have pushed cities across the country into pandemonium. Even if the insurrections are soon quelled – as President Donald Trump promised to do in a speech in front of the White House on Monday – the consequences won’t soon go...
  • Airline stocks soar as American, United add back flights

    06/05/2020 10:29:19 AM PDT · by DallasBiff · 5 replies
    Fox Business ^ | 6/5/20 | Ken Martin
    United Airlines also announced plans to add back flights, saying it will resume about 130 nonstop routes in July that were suspended when travel collapsed as the coronavirus spread rapidly. American said it plans to operate 55 percent of the U.S. flights that it ran in July 2019. The airline only operated 20 percent of its schedule in April and May.
  • Dow up nearly 700 points after jobs report shows surprise jump in payrolls, fall in unemployment rate

    06/05/2020 8:03:45 AM PDT · by ConservativeInPA · 62 replies
    MarketWatch ^ | June 5, 2020 | William Watts and Mark DeCambre
    Stocks rose sharply Friday after the U.S. May jobs report showed a surprise 2.5 million jump in payrolls and a drop in the unemployment rate to 13.3% as businesses began to reopen from the COVID-19 pandemic lockdowns. How are benchmarks performing? The Dow Jones Industrial Average DJIA, +3.16% jumped 692.87 points, or 2.6%, to 26,974.69, while the S&P 500 SPX, +2.53% rose 68.63 points, or 2.2%, to 3,180.98. The Nasdaq Composite COMP, +1.88% advanced 160.03 points, or 1.7%, to 9,775.85. On Thursday, the Dow ended 11.93 points, or less than 0.1%, higher at 26,281.82. The fourth straight gain matches a...
  • Why New York Is In Trouble – 290,304 Public Employees With $100,000+ Paychecks Cost Taxpayers $38 Billion

    06/02/2020 6:18:54 PM PDT · by DUMBGRUNT · 20 replies
    Forbes ^ | 26 May 2020 | Adam Andrzejewski
    Port Authority of New York–New Jersey (4,830 employees with $100,000+ salaries) – These employees included 183 law enforcement officers who made between $250,000 and $423,467 last year. Sergeants made up to $423,467; lieutenants, $374,588; and police officers, $367,774. Three maintenance supervisors made between $305,000 and $313,000. The chief diversity and inclusion officer made $291,163. New York City (114,045) – Only in New York can school janitors out-earn the principals. We found 40 “custodial engineers” who earned between $154,000 and $256,000, while 57 principals made less than $154,000.
  • LIVE: President Trump holds a Press Conference, 6/5/2020 10AM EDT

    06/05/2020 6:20:10 AM PDT · by Buckeye McFrog · 209 replies ^ | 6/5/2020 | Donald J. Trump
    President Trump holds a Press Conference on 6/5/2020 at 10AM EDT. Links below.
  • Unemployment drops to 13.3% in May as economy adds 2.5M jobs

    06/05/2020 5:40:02 AM PDT · by NohSpinZone · 140 replies
    Fox Business ^ | 6/5/2020 | Megan Henney
    The U.S. unemployment rate unexpectedly dropped to 13.3 percent in May, down from a record high in April as the nation's economy began to gradually reopen from the coronavirus lockdown.
  • Nasdaq ends 1.4% off record close as stock-market lurches higher, following economic data pointing to less severe COVID-19 downturn

    06/03/2020 3:42:22 PM PDT · by lasereye · 17 replies
    Marketwatch ^ | June 3, 2020 | Mark DeCambre
    U.S. stocks finished higher Wednesday, adding to several sessions of gains as economic data pointed to less severe damage from the COVID-19 pandemic than feared, leaving major equity benchmarks at their loftiest levels since early March. The Dow Jones Industrial Average DJIA, +2.04% advanced 527.24 points, or 2.1%, to close at 26,269.89, while the S&P 500 SPX, +1.36% rose 42.05 points, or 1.4%, to end at 3,112.87, the highest finish for both benchmarks since March 4, according to Dow Jones Market Data. The Nasdaq Composite Index COMP, +0.77% rose 74.54 points, or 0.8%, ending at 9,682.91, or 1.4% away from...
  • It’s Not 1968 the Dems Want, It’s 1932

    06/03/2020 10:20:54 AM PDT · by Kaslin · 28 replies ^ | June 3, 2020 | Paul Curry
    American cities are burning. Civil unrest is beyond a boiling point. Racial tensions are flaring up from coast to coast. Riots are everywhere. A familiar and often repeated narrative from the media is a likening of today’s America to another tumultuous time in our shared history, that of 1968. In ’68, a pivotal presidential campaign was underway against the backdrop of a divided America. The assassinations of Martin Luther King and Robert Kennedy, coupled with a growing opposition to the war in Vietnam, had America appearing to tear itself apart at the seams. In this election year, there does indeed...
  • Wells Fargo, worried about defaults, stops making loans to most independent car dealerships

    06/02/2020 4:05:59 PM PDT · by dynachrome · 54 replies
    CNBC ^ | 6-2-2020 | Hugh Son
    Wells Fargo, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based company was dropping them as a customer, according to people with knowledge of the situation. A Wells Fargo spokeswoman confirmed that the bank, which only makes auto loans through car dealerships, will no longer accept loan applications from most independent shops. Independent dealerships typically sell used cars, unlike franchise dealerships that focus on new vehicles from specific manufacturers. The bank had “an obligation to review our business practices...
  • How To Accelerate The Economic Recovery: Suspending the Payroll Tax Really Would Stimulate the Economy

    06/02/2020 8:14:33 AM PDT · by SeekAndFind · 23 replies
    Townhall ^ | 06/02/2020 | Stephen Moore
    The recovery stage for our economy is finally here, and now the policy priority has to shift to getting people back on the job and getting businesses up and running. The best incentive to get businesses hiring again and get workers off unemployment is to suspend the payroll tax for the rest of the year. So far, Congress' "stimulus" plans have cost more than $2.1 trillion on short-term aid to workers, businesses and states, but they haven't stimulated much of anything other than government dependence. House Speaker Nancy Pelosi favors another $3 trillion spending bill that would actually encourage states...
  • These Democrat Riots Will End America’s Downtown Renaissance

    06/02/2020 4:26:07 AM PDT · by EyesOfTX · 43 replies
    DB Daily Update ^ | David Blackmon
    The inevitable outcomes of this past week of rioting in the major, Democrat-controlled cities are very predictable. The abject refusal by Democrat mayors and governors to make any effort whatsoever to protect the citizens and small businesses from the excesses of Antifa- and BLM-led burning and pillaging will have consequences for those cities for decades to come. The first two decades of the 21st century have seen a revival of the central cities in America, as the Baby Boomer flight to the suburbs has given way to a move back to downtown and mid-town areas by Gen-X, Gen-Y and Millennials...
  • Gov. Northam Can’t Help Himself, Picks Gun Control Over Virus Control

    06/01/2020 9:16:54 AM PDT · by Kaslin · 5 replies
    The Federalist ^ | June 1, 2020 | Lawrence Keane
    Gun control legislation has been all the rage in Richmond since Democrats took over the Virginia General Assembly last November. The Democratic majority teamed with Gov. Ralph Northam in their ambitious efforts to cross items off the gun control checklist, such as enacting a “red flag” law, banning private firearm transfers, reviving a handgun purchase limit, and even implementing a modern sporting rifle ban that was thankfully defeated in committee — for now. It should come as no surprise, then, that the governor who wouldn’t let his past use of blackface stop his political pandering would also not let a...
  • The Economic Fallout of the Lockdown and Riots will not Diminish Support for Trump

    06/01/2020 5:42:58 AM PDT · by SeekAndFind · 61 replies
    American Thinker ^ | 06/01/2020 | Steve McCann
    Since November 9, 2016, the nation’s elites have been obsessively determined to either use the unchecked clout of the deep state to force Donald Trump to resign, or failing that, so besmirch him and his voter base as to ensure his defeat in 2020. For the first three years of Trump's presidency both stratagems were employed in tandem. However, with the abject failure of the Russian collusion hoax and the Ukrainian impeachment fiasco, these conspirators are now left with relying on the besmirchment option and doing everything possible to make certain that the coronavirus lockdown and the burning of American...
  • Remarks by President Trump in Roundtable Discussion with Industry Executives on Reopening

    05/30/2020 3:17:07 PM PDT · by ransomnote · 3 replies
    May 30, 2020 | President Donald J Trump and others
    State Dining RoomMay 29, 2020 4:54 P.M. EDTTHE PRESIDENT:  All right.  Thank you very much.  Appreciate it.  I want to express our nation’s deepest condolences and most heartfelt sympathies to the family of George Floyd.  A terrible event.  Terrible, terrible thing that happened.I’ve asked that the Department of Justice expedite the federal investigation into his death and do it immediately, do it as quickly as absolutely possible.  It’s a local situation, but we’re also making it into a federal situation.  And it’s — it’s a terrible thing.  We all saw what we saw, and it’s very hard to even...
  • China's Economy Is In Deep Trouble

    05/30/2020 8:15:19 AM PDT · by SeekAndFind · 35 replies
    The National Interest ^ | 05/30/2020 | Gordon Chang
    Xi Jinping, during his appearance at the Chinese People’s Political Consultative Conference in Beijing on Saturday, talked about analyzing the Chinese economy from a “dialectical and long-term perspective.” Should we be surprised that the Chinese leader is resorting to ideological circumlocutions when his economy is contracting and he knows he can’t rescue it soon? The official National Bureau of Statistics reported that gross domestic product contracted 6.8 percent year-on-year during the first quarter of this year, the first announced decline since Beijing began issuing quarterly GDP statistics in 1992. Many assessments, including the widely followed China Beige Book, pegged the...
  • The MAGA Masks Bringing Americans Together

    05/30/2020 7:24:57 AM PDT · by Theoria · 8 replies
    Politico ^ | 29 May 2020 | JOANNA WEISS
    You’re going to find this very strange, but I’m more of an anti-mask person,” Laura Howard told me last week, recounting the success of her business selling “Trump 2020” masks on an Etsy store called “isewformygrandkids.” The 63-year-old grandmother of eight, a retired Walmart assistant manager from Stanton, Michigan, grumbles about Democratic Governor Gretchen Whitmer’s strict stay-at-home guidelines. She invited her kids and grandkids over on Mother's Day, telling them masks and social distancing were optional. But most retail stores around her require customers to wear masks. And so, since the start of the crisis, Howard had been sewing masks...
  • Warning: Just because socialist governments make rules to destroy the economy, dont expect the socialists to actually obey their own rules.

    05/29/2020 3:07:31 PM PDT · by Ozguy1945 · 2 replies
    Beware America. The nanny state is real in Victoria, Australia. They think government can replace freedom. They employ ten people to do work that didnt need ten people and then those people get in everybody's way and break their own laws. They want a utopia where there is no death, but if God sends a plague people are going to die. I am not saying that getting the balance right between "safety" and the economy is easy. But I believe in freedom. The false safeties of socialist parasites make me sick.
  • Biden Backs Democrat Declaration Against Independence

    05/29/2020 7:32:36 AM PDT · by SJackson · 7 replies
    FrontPage Magazine ^ | May 29, 2020 | Lloyd Billingsley
    As president, Biden would replicate California’s repressive AB5 law. “Last year California passed AB5 affording gig workers protections and benefits like a minimum wage and overtime pay,” Joe Biden tweeted on Tuesday. “Now, gig economy giants are trying to gut the law and exempt their workers. It’s unacceptable. I urge Californians to vote no on the initiative this November.” The initiative, qualified for the ballot on May 22, establishes criteria for determining whether rideshare drivers are “employees” or “independent contractors.” AB5 also targets freelance writers and independent contractors in dozens of professions, including health care. Joe Biden was all in...
  • Reuters Poll Nukes CNN Theory Economy Will Cause Trump to ‘Lose in a Landslide’

    05/29/2020 8:16:58 AM PDT · by JV3MRC · 5 replies
    NewsBusters ^ | 5/29/2020 | Joseph Vazquez
    It looks like the media’s efforts to denigrate President Donald Trump’s management of the economy are bouncing off his economic support numbers. Sorry, CNN.