Economy
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Bitcoin Briefly Hits All-Time High, Less than 2 Yrs after FTX Scandal
(Headline USA) Bitcoin has hit an all-time high less than two years after the collapse of the crypto exchange FTX severely damaged faith in digital currencies and sent prices plunging. The world’s largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 Tuesday, according to CoinMarketCap. That’s just above bitcoin’s previous record set in November 2021. The volatile asset soon…
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Fed’s Powell: Rate Cuts Likely This Year, but More Evidence Is Needed
(Headline USA) With former President Donald Trump having already announced last month that he would not keep Jerome Powell as Federal Reserve chairman, Tuesday’s GOP primary blowout may have given Powell all the evidence he needed that it wasn’t the right time to cut interest rates and jumpstart the economy—just yet. That will likely be…
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Biden Threat to Seize Russian Assets Sends Gold to All-Time Highs
(Mike Maharrey, Money Metals News Service) The United States enjoys the privilege of issuing the world’s reserve currency. But it increasingly uses that privilege as a hammer to shape foreign policy. Could Americans end up feeling the blows from that hammer? Economist and the author of Currency Wars Jim Rickards thinks that’s already happening. After…
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More Inflationary Woes: In One Year, Car Insurance Rates Surge 26%
(Bethany Blankley, The Center Square) Car insurance rates surged 26% nationwide in the past year and are expected to remain elevated until 2025. That’s according to the “True Cost of Auto Insurance” report from Bankrate, an independent comparison service company. The report used the most recent median income data from the U.S. Census Bureau to…
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U.S. Adding $1 Trillion in Debt Every 3 Months Since Last June
(Bethany Blankley, The Center Square) The U.S. began adding $1 trillion worth of debt about every three months beginning last June, a Bank of America investment strategist Michael Hartnett first pointed out in an investment note published last week. The national debt is currently $34.48 trillion and rising. It surpassed $34 trillion for the first…
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LAPD Hires Illegals as Cops amid Spate of Recent Attacks, Safety Fears
(Jacob Bruns, Headline USA) The Los Angeles Police Department is now hiring as police officers illegal immigrants who have attained special residency status under the Obama-era Deferred Action for Childhood Arrivals status, The Federalist reported. Arming the illegal immigrants and giving them the power to enforce law, the LAPD made the announcement in January, with…
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Biden Bungles Response to Question about Newsom Replacing Him
(Luis Cornelio, Headline USA) President Joe Biden appeared to dismiss persistent rumors suggesting that California Gov. Gavin Newsom, D-Calif., might take over the Democratic presidential candidate due to concerns about the incumbent’s mental faculties. As Biden departed Tuesday for a three-day fundraising trip to California, a reporter queried whether Newsom should “stand by” for a potential…
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Economists: Recession on Horizon | Headline USA
(Bethany Blankley, The Center Square) – Americans should brace for and expect a recession this year, economists are warning, arguing the details of the latest jobs report are not a good indicator. Even though the Federal Reserve has not yet forecasted a recession and is expected to cut the Fed funds rate in March, some…
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Watchdog Unable to Determine if U.S. Financial Statements are Reliable
(Brett Rowland, The Center Square) – A Congressional watchdog said Friday that it was again unable to determine if the federal government’s consolidated financial statements were reliable. The U.S. Government Accountability Office, which is Congress’s research arm, said it was hampered by “serious financial management problems at the Department of Defense,” problems in accounting for…
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Chinese Solar Companies Eager to Cash In on Biden’s Climate Subsidies
(Dmytro “Henry” Aleksandrov, Headline USA) It was recently reported that Chinese solar manufacturers started building factories in the United States to reap American subsidies created by the Inflation Reduction Act (IRA), Joe Biden’s signature climate bill. According to the Wall Street Journal, after the IRA became law in August 2022, Chinese-based companies became responsible for about…
