Economy Feed

Let's Face It- Trump had the best economy EVER in our lifettime!

LEST WE FORGET in these miserable times....
Bob Barney
I am a Ronald Reagan fan. I still believe Reagan was the greatest president of my lifetime - that being said, 
I can not ignore that no president in modern history turned the economy around as fast as Trump did (started the day after his election) and in four years had the greatest economy ever in my lifetime.  Every small business owner I know, will say the same thing.  Our paint company TAMCO grew nearly 600% in the first 2 years of Trump's economy. Today, our sales are 15 times greater than they were in 2014!   I credit God as well for our turnaround.  In fact, answered prayer by God, trumps TRUMP!  I believe God gave us the Trump victory, and Americans allowed their best president to be illegally booted from office through fraud.
 

Profits of Doom: Globalist Elites Doubled Their Wealth During Coronavirus Pandemic

coronavirus
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Bidenomics: 82% of Americans are now paying above sticker price for dealership cars

Car dealers raising prices up to 82% above retail price, as Ford  threatens to withhold

Four fifths of Americans who bought a car from a dealership last year paid more than the sticker price - a 276-fold increase in just two years. A new study from auto market research firm Edmunds showed that only 3 per cent of cars bought at American dealerships were sold over the manufacturers' suggested retail price (MSRP) at the start of 2021. The trend slowly rose by May before skyrocketing up to 82 per cent in January 2022, a 276-fold increase since the 0.3 percent in 2020. Ford saw an average of $163 add-on to MSRP in 2021, although one Seattle woman told the Washington Post she'd been warned she'd have to pay $12,000 over the list price for one of the firm's hybrid pick-up trucks, prompting her to abandon the purchase. GM's Chevrolet and GMC brands saw markups of $625 and $677, respectively. GMC's prestige Cadillac line saw an average of $4,048 last month. Kia, Hyundai's popular bargain brand, saw an average mark up of $2,289. On average, the new markup on cars have cost consumers an extra $728, with shoppers reporting that electric vehicles and hybrids are being sold at an additional $10,000 or more. Ford said they would withhold deliveries of their most popular vehicles, including the new F-150 Lightning pickup and other electric vehicles, from dealerships that are overcharging the cars..


Inflation is like Jimmy Carter Years!

Note the story is misleading claiming inflation was bad in 1982... IT WAS NOT!  

1973 8.7%     End of gold standard
1974 12.3%     Watergate
1975 6.9%     Stop-gap monetary policy confused businesses and kept prices high
1976 4.9%      
1977 6.7%      
1978 9.0%      
1979 13.3%      
1980 12.5%     Recession
1981 8.9%     Reagan tax cut- took office Jan. ALL Democrat Congress
1982 3.8%     Recession ended
1983 3.8%     Military spending
1984 3.9%      
1985 3.8%      
1986 1.1%

 

Inflation skyrockets to 40 YEAR high: Prices soar by 7.5% in the highest spike since 1982

The U.S. inflation rate hit a 40-year high in January, with prices rising 7.5 percent from last year, the Labor Department announced on Thursday. It's the highest spike in consumer goods since 1982, under the Carter administration. Prices rose by 0.6 percent from December, going up for the sixth consecutive time and signaling the months-long surge that's been hitting Americans in the pocketbooks is not slowing down. The average U.S. household spent an extra $250 per month as prices have leapt, according to a new analysis published in the Wall Street Journal on Thursday. People can expect to be paying more for virtually every facet of life, from food to cars, and even housing and their monthly bills.


Panic Everywhere - Markets Crash - oil explodes! Joe Biden: I did that!

Residents in Kiev empty ATMs and take refuge in subway tunnels while others clog highway

Locals from Kiev, Lviv and Mariupol formed huge queues stretching out of goods stores despite the threat from enemy artillery overhead. Traffic was gridlocked on the main roads out of the capital despite calls for people to stay at home - with some bursting into tears as they made it to safety over the border with Poland. But the city centres were ghost towns as martial law was imposed, apart from some cars whizzing past on their way out and tanks, military figures and some citizens who have taken up arms against the Russians. Russian troops swept into Ukraine in early morning raids on Thursday as President Vladimir Putin gave the green light for his forces to launch a 'special military operation' which also saw a bombing campaign begin. He warned other countries any attempt to interfere would lead to 'consequences you have never seen' but was met with international condemnation, sanctions and was compared to Adolf Hitler by


The Miracle of Trump's Economy

Bob Barney

Trump took over from a miserable Obama economy that destroyed much of the middle-class of America.  Within months, the economy was booming, low unemployment, a decrease in illegal aliens, and factories reopening in America.  

These numbers don't lie!. I think we will see 9-12% in 2022 then a big BUST is coming. Your 401K and IRA's will be worthless.

2017 2.1%   TRUMP  
2018 1.9%   TRUMP  
2019 2.3%   TRUMP  
2020 1.4%   TRUMP  
2021 7.5%   BIDEN  

Report: Inflation costs families around $3,500 this year

FILE - Denver Shopping

In this May 10, 2020, file photo, a shopper pushes his cart past a display of packaged meat in a grocery store in southeast Denver.

(The Center Square) – A new report estimated the annual cost of elevated inflation this year will be around $3,500 per household.

The Wharton School of the University of Pennsylvania, one of the nation’s leading business schools, released the report, which estimated much higher costs for American families because of inflation that has risen this year at the fastest rate in decades. MORE


Wholesale inflation hits a record 9.7%: Worse economy in over 50 Years

Wholesale inflation hits a record 9.7%: Supply chain disruptions 'will continue to pin producer prices near record levels'

  • Wholesale inflation hit 9.7% in 2021, according to new data on Thursday
  • It comes a day after consumer prices hit 7% inflation, the most since 1982 
  • Experts say that 'persistent supply disruptions' are keeping costs high
  • Biden's approval ratings have taken a huge hit because of the surge in prices 

MORE


Bidenomics: Free Money= No workers- Inflation and long lines

iHop management posts anti-Biden notice on doors telling customers that no one wants to

An iHop in Arkansas posted an anti-Biden notice on it's doors telling customers that because he gave out too much free money there were no employees available to work the restaurant. The sign read: 'Due to the fact that Biden gave out way too much free money and nobody wants to work anymore. We are forced to reduce our hours during this week,'


Inflation soars to its highest level in 40 YEARS

Inflation soars to its highest level in 40 YEARS as prices jump 6.8%

NEW The US inflation rate has hit its highest level in nearly 40 years, adding woes for consumers and compounding the issue as a political liability for President Joe Biden.  The consumer price index rose 0.8 percent last month after surging 0.9 percent in October, the Labor Department said on Friday.  It pushed annual inflation to 6.8 percent in November, the highest increase since June 1982 and well above October's 6.2 percent annual rate. 


Yes, Democrats are to blame for the inflation fiasco

image from th.bing.comWholesale prices rose 8.6% from a year ago in October, another record annual gain and the biggest spike in more than a decade. Inflation hit 6.2%, the highest rate of annualized inflation since the 1990s. Whereas once voters were promised "transitory" inflation, today, economists warn that we'll be in this for a while.

"Reversing this trend is a top priority for me," President Joe Biden said Nov. 10, after months of his administration's dismissing inflation as a "high-class" and short-term predicament – there's "nobody suggesting there's unchecked inflation on the way – no serious economist," the president promised a few months ago. Biden's National Economic Council Deputy Director Brian Deese had argued that inflation was actually a good thing, and the entire administration had pushed the notion that the best prescription to alleviate inflation was more big, progressive spending – part of a broader trend of Democrats saying utterly absurd things about the economy.

Democrats have seriously underestimated the frustration voters, unable to get the things they desire nearly instantaneously, are going to feel, as people such as Jen Psaki crack jokes about supply-chain problems – "the tragedy of the treadmill that's delayed." What about rising prices?

This week, Democrats, with an assist from some Republicans, approved another $1 trillion-plus infrastructure bill, even as they push through an unprecedented multitrillion-dollar reconciliation bill. All this comes after $6 trillion of deficit spending during the pandemic, which many Democrats argued wasn't even enough.

Meanwhile, a third of recent inflation increases has been propelled by energy prices, which spiked 6.7%. Biden defenders such as Paul Krugman, who have no compunction blaming Republican governors for seasonal variances in the spread of viruses, contend that Biden has no control over gas prices. Well, the first thing Biden did was freeze new oil and gas leases and shut down future pipelines. Biden now begs OPEC to increase production and help lower worldwide gas prices, but his domestic political goals and action run contrary to this position. Virtually every "green" plan in existence will intentionally, through mandates or bans or taxes or contrived "markets," make fossil fuels more expensive or reduce use. Expensive gas is their goal. So how can Democrats credibly maintain they have a plan to stop rising prices?

On top of all that, Democrats continue to push for a major expansion in the welfare state during a tight labor market. It is reminiscent of their insistence that unemployment insurance be expanded even after the pandemic had ebbed. Biden's spending plan includes programs that disincentivize work. Typically, massive "safety net" programs are instituted by Democrats during times of recession, not of growth. There are more jobs than jobseekers in the country.

It's true that governments caused much of the demand shock we are experiencing, needlessly shutting down entire economies during the pandemic. Yet, Democrats have allowed their strident ideological wing to take over the party, aggravating these underlying trends. Why Joe Manchin or Kyrsten Sinema (or Biden, once considered a moderate himself) would follow progressives off into this quagmire defies logic – not only economic but political logic.

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Big Banks Big Businesses actually Hate Most Americans- and HATE CAPITALISM - Why? They depend on BIG GOV HANDOUTS!

American Express had great-grandson of Nation of Islam's founder tell staff capitalism is

Internal documents show how the banking giant is telling its workforce that the capitalist system that pays their salaries was founded on 'racist logics'. Khalil Muhammad (right), the great-grandson of Nation of Islam founder Elijah Muhammad, spoke at a company event telling Amex workers that capitalism was based on 'racist logics and forms of domination' and that they are 'complicit' (inset). Other documents reveal how Amex has created an 'anti-racism initiative' for its workforce on 'systemic racism', 'white privilege' and 'microaggressions' (left). Amex's revenue grew 6.5% in the last fiscal year to a whopping $31.36 billion while the CEO took home a total salary package of $24.2 million in 2020.


Many of the uber-rich pay next to no income tax

Don't believe the hype of liberal supporting billionaires who want higher taxes... They want them for YOU- not them!

1
WASHINGTON (AP) — The rich really are different from you and me: They’re better at dodging the tax man.

Amazon founder Jeff Bezos paid no income tax in 2007 and 2011. Tesla founder Elon Musk’s income tax bill came to zero in 2018. And financier George Soros went three straight years without paying federal income tax, according to a report out Tuesday from the nonprofit investigative journalism organization ProPublica.

Overall, the richest 25 Americans pay less in tax — 15.8% of adjusted gross income — than many ordinary workers do, once you include taxes for Social Security and Medicare, ProPublica found.

An anonymous source delivered to ProPublica reams of Internal Revenue Service data on the country’s wealthiest people, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. 

ProPublica compared the tax data it received with information available from other sources. It reported that “in every instance we were able to check — involving tax filings by more than 50 separate people — the details provided to ProPublica matched the information from other sources.’’ 

Using perfectly legal tax strategies, many of the uber-rich are able to whittle their federal tax bills down to nothing or close to it. Soros went three straight years without paying federal income tax; billionaire investor Carl Icahn, two, ProPublica finds. 

The findings are sure to heighten the national debate over the vast and widening inequality between the very wealthiest Americans and everyone else.

ProPublica reports that the tax bills of the rich are especially low when compared with their soaring wealth — the value of their investment portfolios, real estate and other assets.

 

Billionaire Carl Icahn hits back as IRS data shows he paid zero income tax

Corporate raider Carl Icahn, who is ranked the 40th wealthiest American with an estimated fortune of $14.9 billion, did not pay any federal income tax in 2016 and 2017. The 85-year-old's tax records were included in the trove of confidential IRS records that was made public on Tuesday by ProPublica. Icahn says he paid the taxes he owed and that he registered losses because interest on his loans was higher than his income. Amazon founder Jeff Bezos paid no income tax in 2007 and 2011, while Tesla boss Elon Musk's income tax bill came to zero in 2018. Investor George Soros went three straight years - between 2016 and 2018 - without paying federal income tax. Law enforcement and the IRS are now investigating the leak. ProPublica say they don't know who provided the data and acknowledged the possibility it could have come from 'a state actor hostile to American interests'.


Bidenomics: American Middle-class to pay for tax increases while liberal Democrat billionaires pay virtually nothing

 

Biden's Build Back Better will make 30% of middle class families pay higher taxes,

President Joe Biden's Build Back Better plan could raise taxes modestly for some middle-class households, despite his vow that anyone making less than $400,000 would not see an increase, according to a new analysis. 'Taking into account all major tax provisions, roughly 20 percent to 30 percent of middle-income households would pay more in taxes in 2022. However, their tax increases would be very small,' non-partisan Tax Policy Center wrote in a report.  'Among those with a tax increase, low- and middle-income households would pay an additional $100 or less on average. Those making $200,000-$500,000 would pay an average of about $230 more,' the report added. The analysis found that, even if some households saw a modest increase, the average lower- and middle-income household would see an overall decline in their taxes. The analysis also found that the tax picture would change in 2023 under the current plan, which expands Child Tax Credits only through 2022. TPC found that the 'effects of these changes would result in many households paying higher taxes in 2023 than in 2022. They would shrink the average 2023 tax cuts for low-income households, raise taxes slightly for moderate-income households, and increase taxes significantly for the highest-income households.'

 

TRENDING:

The speaker of the House of Representatives - who is currently in Glasgow for the Cop26 climate summit - is reportedly worth over $100million, making her the sixth richest member of Congress.


Haulage firms offer $100,000 salaries and $15,000 bonuses to lure Drivers

Driving a hard bargain: Haulage firms offer $100,000 salaries and $15,000 bonuses to lure 80,000 truckers and ease supply crisis as empty shipping containers are dumped in streets because California port is full

Some trucking companies are offering six-figure salaries to persuade prospective hires during a time when demand outweighs supply and California's biggest ports are backed up

Bidenomics- Communist -Like empty shelves- Looks like Russia or Cuba in the Grocery Store!~

PHOTOS: 66 Cargo Ships Hover Near L.A., Long Beach Ports

Locals: Never Seen Anything Like It

Port of Los Angeles Long Beach San Pedro (Joel Pollak / Breitbart News)

LOS ANGELES, California — Sixty-six cargo ships were at anchor off the ports of Los Angeles and Long Beach, the busiest and second-busiest container ports in the United States, respectively, on Monday as an ongoing cargo crisis continued.


China’s Emissions Exceeded Those Of All Other Developed Nations Combined: Report

The idiotic idea that the United States should follow global warming prodigal, but China does not to do so, and pollute more than all other countries in the world is INSANE!   Politicians and Green New Deal Democrats are obviously being paid by China to destroy American businesses.   

INNER MONGOLIA, CHINA - NOVEMBER 04: Smoke billows from a large steel plant as a Chinese labourer works at an unauthorized steel factory, foreground, on November 4, 2016 in Inner Mongolia, China. To meet China's targets to slash emissions of carbon dioxide, authorities are pushing to shut down privately owned steel, coal, and other high-polluting factories scattered across rural areas. In many cases, factory owners say they pay informal 'fines' to local inspectors and then re-open. The enforcement comes as the future of U.S. support for the 2015 Paris Agreement is in question, leaving China poised as an unlikely leader in the international effort against climate change. U.S. president-elect Donald Trump has sent mixed signals about whether he will withdraw the U.S. from commitments to curb greenhouse gases that, according to scientists, are causing the earth's temperature to rise. Trump once declared that the concept of global warming was "created" by China in order to hurt U.S. manufacturing. China's leadership has stated that any change in U.S. climate policy will not affect its commitment to implement the climate action plan. While the world's biggest polluter, China is also a global leader in establishing renewable energy sources such as wind and solar power.

A new report released late week found that communist China’s greenhouse gas emissions in 2019 were higher than the rest of the developed world combined.

The report was published by the Rhodium Group, a leading independent research provider that specializes in matters involving China, energy & climate, India, and economics.

“Using our newly updated global emissions data through 2019, we estimate that in 2019, for the first time since national greenhouse gas emissions have been measured, China’s annual emissions exceeded those of all developed countries combined,” the report said. “China’s emissions were less than a quarter of developed country emissions in 1990, but over the past three decades have more than tripled, reaching over 14 gigatons of CO2-equivalent in 2019.”

image from pbs.twimg.com


Local concerns over another shutdown heat up as Delta variant spreads

SALINAS, Calif. (KION) As the Delta variant continues to wreak havoc across the country, sending up cases and hospitalizations mainly among the unvaccinated, local concerns about what that will mean for the fall are becoming more palpable.

Delta variant COVID-19 cases have popped up here on the Central Coast, where local health departments are tracking the prevalence among those who are hospitalized.

"What we're finding is that with Delta, because it does shed so much virus, the vaccines are probably not as good at preventing infection within the vaccinated population," said Dr. David Ghilarducci, an official with the Santa Cruz County Health Department. "If we start seeing that kind of the same level of urgency, then we're probably going to have to institute some more social distancing measures. Especially now because just being vaccinated doesn't mean you can't catch it and you can't pass it on to somebody else."  

According to CBS News, the Centers for Disease Control and Prevention has already stated that "the war has changed" against COVID-19. An internal report also suggests the CDC believes the Delta variant could be as contagious as Chickenpox.