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by confoundedinterest17 Earlier today I wrote about the horrible November Consumer Price Index (CPI) print of 6.9% YoY. But that 6.9% YoY is very misleading because of the strange way the Bureau of Labor Statistics measures the largest asset in most households’ expenditures: housing. The BLS measures inflation in housing using the Shelter measurement. Which … Read more
(CNN) — The CEOs of Target, Best Buy, Nordstrom, Home Depot and CVS are among a group of 20 retail leaders who sent a letter Thursday to Congress expressing their concern over a recent wave of brazen store robberies in major US cities and urged lawmakers to take action. The group called on Congress to … Read more
NEW YORK — Three in five Americans feel more tired now than they’ve ever been in their lives. In a study of 2,000 respondents, 59 percent say that spending so much time at home since early 2020 has permanently sapped them of their energy. Fifty-eight percent confess to feeling disjointed and unfocused, and catching a … Read more
While Sen. Joe Manchin (D-WV) made it clear he is not in favor of the nuclear option to get rid of the filibuster, he and other Republican senators did recently confirm to The Hill that he is in talks with GOP members to discuss reforming it. Jordain Carney first reported on the scoop on Wednesday for The … Read more
WASHINGTON — The United States on Friday imposed human rights-related sanctions tied to China, Myanmar, North Korea and Bangladesh and added Chinese artificial intelligence startup SenseTime Group to an economic blacklist. Canada and the United Kingdom also joined the United States in imposing sanctions related to human rights abuse in Myanmar. https://nationalpost.com/pmn/news-pmn/u-s-imposes-sweeping-human-rights-sanctions-on-china-myanmar-and-n-korea
Another month of rising prices under Biden: Gas: +58.1% since last year Bacon: +21%Eggs: +8%Steak: +24.6%Propane & Firewood: +34.3%Furniture: 11.8%Used Cars & Trucks: +31.4% Coffee: +7.5%Cigarettes: +9.4%Hotels & Motels: +25.5%Car & Truck Rentals: +37.2%Bikes: +9.4% — Jacki Kotkiewicz (@jackikotkiewicz) December 10, 2021 Meat sticker shock hits as the labor shortage continues Prices for prime cuts … Read more
Public domain, courtesy of the Federal Reserve From Birch Gold Group One thing is certain, inflation is no longer officially “transitory.” For months, recently reappointed Federal Reserve Chairman Jerome Powell kept telling the public that rising inflation was transitory, and would soon subside. It hasn’t, and isn’t likely to in the near future either. So the next natural question … Read more
This violent long track tornado is approaching Benton, Kentucky (9:40p CT). It has been on the ground for over 100 miles across parts of 4 states (AR, MO, TN, KY). At least two people have been killed along the path. pic.twitter.com/LzPXAkc2Qw — James Spann (@spann) December 11, 2021 We just broke a 96 year old … Read more
No matter how hardworking a person is, one simply cannot work forever. When the time comes, a person must retire to rest and enjoy their days with their families and hobbies. However, retirement also means leaving work, thus, eliminating any income source. With that, you need to prepare for it so you can ensure that … Read more
Late Thursday, Fitch Ratings said Evergrande had not confirmed payment of its latest debt obligation, triggering a default. S&P Global Ratings did not have a statement as of Friday afternoon, and referred CNBC to its report Tuesday that said “default looks inevitable for Evergrande.” Moody’s, another ratings agency, did not respond to a request for … Read more
A worrying spike in anti-Christian hate crimes has been revealed in a new report from a Christian persecution watchdog group. The Observatory on Intolerance against Christians in Europe (OIDAC) reported that the number of Christians being targeted with hate crimes jumped 70 percent between 2019 and 2020 in Europe. The epicenter of such crimes was in France and Germany. … Read more
On Thursday, CNN’s Don Lemon publicly condemned his old friend Jussie Smollett, calling him a liar and saying that the hoax he perpetrated made it worse for real victims of violent crimes. Lemon had legal analyst Joey Jackson on as a guest, who supported the jury’s decision to convict Smollett, and Lemon agreed, saying that … Read more
Throughout the past few weeks, multiple reports have alleged tension between President Joe Biden and Vice President Kamala Harris. An awkward interaction between the two on Thursday will certainly not quell those concerns. According to CNN, Biden and Harris were among many politicians in attendance at the United States Capitol on Thursday. They were there … Read more
Brian Wesbury explains the potential consequences of the president’s idea, and discusses how the administration is giving people incentives not to work on ‘Making Money’ A group of Democrats is ramping up the pressure on President Biden to use his executive authority to cancel billions of dollars in student loan debt and extend a moratorium … Read more
Four current and former staffers told Insider that discussions around TikTok’s product can require calls with employees at ByteDance’s headquarters in China. And final product decisions are often made in Beijing, not in the US or Singapore where TikTok’s CEO is based, three former employees said. One reason TikTok has emphasized its work in the … Read more
Cloud service Amazon Web Services (AWS), which runs around one-third of the internet, saw a massive outage. Not only were centralised crypto exchanges hit, but decentralised players like dYdX went down in the chaos that followed. The time-sensitive nature of transactions on crypto exchanges has users questioning what ‘decentralisation’ truly entails. Amazon Web Services (AWS) was down for nearly half … Read more
https://youtu.be/sy2iPlRtzJM Israel has taken point on a 10-country exercise which simulated a crippling cyber-attack on financial markets around the world, attempting to create a realistic scenario of the panic and chaos that would ensue, Reuters reported. Dubbed ‘Collective Strength’ and carried out on Thursday, the international cyber drill was conducted alongside the United States, Britain, … Read more
New York City Mayor-elect Eric Adams pledged not to surrender the city’s streets to the thugs of Black Lives Matter and ANTIFA in a Police Athletic League event on Thursday, striking a tone unheard of during the tenure of ultraprogressive mayor Bill de Blasio. “We’re not going to surrender to those who are saying, ‘We’re … Read more
by tyrranus Very brief and abridged version: Previously, the Consumer Price index (CPI) was calculated using a basket of goods to generate a Cost Of Goods Index (COGI). So, actual prices of actual real world items. The Bureau of Labor Statistics changed their measurement methods and created a Cost Of Living Index (COLI). “The composite … Read more