STORY HIGHLIGHTS
Economic Confidence Index slips to -12, from -6 in July and +2 in AprilRatings of current economy stable; more see economy getting worse...
Former President Donald Trump called on President Joe Biden Sunday evening to resign over a number of policy outcomes, foremost among them Afghanistan’s looming fall to the Taliban after the withdrawal of American troops.
There is an old Soviet tale about Foreign Minister Andrei Gromyko. At lunchtime, he would retreat into his office and stare at the map of the world. The map was centered on the Soviet Union. The old Bolshevik would just glare at it as if it were a giant chessboard awaiting Moscow’s next move.
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.
Inflation at a 13-year high, gas shortages, a jobs report that missed the mark by nearly 500 percent — is there any reason to feel economic confidence in President Joe Biden’s administration?
The Consumer Price Index (CPI), which measures overall inflation of the U.S. dollar, rose 0.8% in April, capping off the largest 12-month jump in prices since the period ending September 2008 after the beginning of the Great Recession.
The U.S. economy added just 266,000 jobs in April and the unemployment rate ticked up to 6.1 percent, the Labor Department said in its monthly labor assessment Friday, smashing expectations.
America has turned into a consumption economy, according to veteran stockbroker Peter Schiff, who points out that economies can’t run on consumption because then they become “bubble economies.”
