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History Tells Us the Danger the Economy Faces is Recession, Not Inflation
by Paul A. London
The Hill
The Federal Reserve announced on June 12 that it is not lowering interest rates at this time. It is standing pat, although inflation is falling, consumers are limiting purchases, and big national chains are cutting prices for hundreds of products. The risk now is recession, but that is not the way the Fed sees it.
This is not the first time in U.S. history that policymakers have opted to make borrowing more expensive, risking recessions as a result. Such restrictive credit policies prevailed with disastrous effects in the 1830s, the 1870s, the 1890s, during the Great Depression from 1929 into 1939 and in the 1980s.
Make Ends Meet: Tips to Help with Finances During High Inflation
by Dawne Gee
Wave 3
LOUISVILLE, Ky. (WAVE) – The Labor Department determined inflation slightly loosened its grip on the U.S. economy. Still many Americans are hanging on to every dollar and dime trying to make ends meet.
We had a chance to sit down with a financial planner and investment advisor to look at the top five financial problems families say are really weighing them down along with a few simple tips that may help. Just how far can we stretch a dollar?
Marcus Warren of Warren Wealth Management & Tax Planning works daily with families creating a financial strategy for graduates to retirees.
“What really should matter to folks and what we’re seeing matter to folks is their personal economy,” exclaimed Warren.
Latest Inflation Data Provides Potential for ‘Even Greater Upside’ in the Stock Market Rally
by Josh Schafer
Yahoo! Finance
After a rough start to 2024, the latest inflation data may very well mean more fuel for the current stock market rally.
“Inflation falling continues to be one of the primary factors behind the bull market in stocks,” Julian Emanuel, who leads Evercore ISI’s equity, derivatives, and quantitative strategy, wrote in a note to clients.
On Sunday, Emanuel boosted his year-end price target for the S&P 500 (^GSPC) to 6,000 from 4,750. Emanuel cited the promising inflation path and the “early innings” of the AI trade when moving his year-end target to the highest on Wall Street.
The Deeper Dive: Why the Fed’s Inflation Fight is Far From Over
by David Haggith
GoldSeek
The two major factors that gave a tiny drop in CPI last week were oil and softening housing price increases, removing earlier pressure. Apart from the decline/softening in those two items, CPI would have risen. Since those were the major items where softening or downward pressures helped the Fed out and gave stock and bond markets a tingle in the seat of their pants, I’m going to lay out what is coming in those prices, and it is not likely good for the Fed’s fight.
Getting crude about CPI
Oil, I’ve been saying, is more likely to rise right away, as the summer travel season gets going, than to keep falling. That is elementary because rises in price during the northern hemisphere’s summer is oil’s common pattern because travel in the summer by jet and by car and by RV and by ship all increase in the nations with the largest populations on earth and the most travelers.
7th Grader: Trump Popular Among Young People Because Biden’s Inflation Raises Candy Prices
by Alana Mastrangelo
Breitbart.com
DETROIT, Michigan — A seventh grader told Breitbart News on Friday that former President Donald Trump is popular among young people because the inflation suffered under President Joe Biden’s administration is causing candy, such as Airheads, to cost more.
“My friends love Trump,” Joshua Adler told Breitbart News of his classmates in Wisconsin while attending Turning Point Action’s “The People’s Convention” in Detroit, Michigan.
After being asked if he believes Trump has become more popular among young people in recent years, Adler said, “Definitely,” before giving an anecdote about how he and his classmates have been personally hit with inflation under the Biden administration.
“When I went to the sports center in Eau Claire, the Airheads, now they’re 50 cents,” he said. “They used to be 25 [cents], now it’s 50 [cents].”
The National Debt is Now So High That Every American Essentially Owes $100,000
We could grow our way out of our debt burden if politicians would just limit spending increases to about 4 percent. But they won’t even do that.
by John Stossel
Reason.com
America is now almost $35 trillion in debt. That means every American owes $100,000.
President Joe Biden’s administration doesn’t care. They want to spend more.
Already they are spending so much that they’re increasing our debt by a trillion dollars every 100 days.
President Donald Trump was no better. His administration increased our debt by almost $8 trillion.
This will not end well.
Don’t Let a Crisis Go to Waste in 2025
by Vance Ginn
The American Institute for Economic Research
As 2025 draws near, America teeters on the brink of a fiscal abyss. This impending fiscal cliff, marked by the end of tax cut provisions and a spending crisis, calls for immediate and decisive action by Congress to avert a worse economic situation than the one Americans feel today.
The national debt from excessive government spending is on track to surpass $35 trillion soon, a stark increase of nearly $10 trillion since 2020. This level of debt per citizen exceeds $100,000; per taxpayer, it is nearly $267,000.
Such figures are not just numbers but represent a looming burden that future generations will bear — a burden that transcends mere fiscal policy and ventures into the realm of ethical responsibility.
Fiat Currency System On Its Last Legs
by Sprott Money
Sprott Money
Welcome to “Commodity Culture,” the podcast where we dive into the world of commodities and their impact on our economy. In today’s episode, “Fiat Currency System on its Last Legs: Sound Money is the Only Escape Hatch,” we are joined by financial expert Andrew Sleigh. Andrew will shed light on the vulnerabilities of the fiat currency system and advocate for the adoption of sound money. Tune in as we explore the potential collapse of fiat currencies and discover how sound money could provide a secure financial future.
Get Ready for Skyrocketing Prices of Avocados
by Monica Showalter
American Thinker
Think prices are high enough at the grocery?
Well, they’re going higher, this time on avocados, that glorious Mexican delicacy so beloved by Americans on their toast, in their guacamole bowl, and pretty much everything else. Mexican avocado imports are a $2.8 billion annual industry, meaning, Americans like them a lot.
According to the New York Times:
Security concerns for agency workers have led the United States Agriculture Department to suspend its inspections of avocados and mangos imported from Mexico “until further notice,” the U.S.D.A. said on Monday.
Produce already cleared for export will not be affected by the decision, but avocado supplies in the United States, which mostly come from the Mexican state of Michoacán, could eventually be affected if the inspections are not resumed.
80% of Americans Say Grocery Costs Have Notably Increased Since the Pandemic Started, Survey Finds
New government inflation data shows the rate of price increases for food is subsiding.
by Lorie Konish
CNBC.com
The rate of price increases for food has subsided in recent months, according to the latest government inflation data.
However, shoppers still report feeling burdened by the prices they’re seeing in the grocery store aisles. To that point, within the past few years, 80% of Americans say they’ve felt a notable increase in the cost of groceries, Intuit Credit Karma reported last month.
Since the start of the pandemic, grocery prices have risen 25%, the report also found.
Some consumers have had to sacrifice necessities to afford food, the personal finance company found.