Central banks have not merely inflated the bejesus out of assets prices. They have also caused the very foundations of financial markets to metastasize, yielding an endless array of new products that have no real economic function except to facilitate new forms of pure wagering.
A new budget projection shows the Democratic climate and social spending bill would add to the deficit, a finding that could further imperil support from centrist Democrats like Sen. Joe Manchin.
Most major companies requiring vaccines for workers are owned by BlackRock Inc., which in turn owns the pharmaceutical companies producing Covid-19 vaccines.
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“It’s going to cost nothing,” President Biden said of the Democrats’ massive $3.5 trillion spending binge, which House Speaker Nancy Pelosi is scrambling to pass this week.
There’s a growing realization among Democrats that their plans for a $3.5 trillion spending package to reshape the nation’s social safety net and to tackle climate change will have to be slimmed down because of anxious centrists worried about the 2022 midterms.
Forty-six Republican senators issued a stern warning to Democrats that they will not vote for an increase in the debt ceiling, a move that could raise the risk of the U.S. Treasury defaulting on its obligations as soon as next month.
America’s oil and gas industry employs over 11 million people and is worth more than $1.6 trillion, making the energy transition more difficult than it may seem.
