Category: Economics

Buttigieg: Supply chain clog happening in part because Biden has ‘successfully guided this economy’

Transportation Secretary Pete Buttigieg claimed during a CNN interview on Sunday that the supply chain crisis facing the U.S. right now is in part due to how “successfully” President Joe Biden has managed the economy, despite skyrocketing inflation and millions quitting their jobs.

US global supply chain on the brink of collapse

Dozens of cargo ships anchored off the coasts of Los Angeles and New York face shocking wait times of up to four weeks and railyards and trucking routes are hopelessly clogged due to the lack of manpower to unload goods – with an expert warning that the government needs to intervene or face spiraling inflation and unemployment.

Biden banking nominee proud recipient of collegiate “Lenin Award”

Biden last week nominated Saule Omarova to lead the Office of the Comptroller of the Currency, which regulates national banks. Omarova in 2019 praised aspects of the Soviet Union’s economic system, calling the lack of a gender pay gap a “huge achievement” and an example of a flaw in capitalism.

Major supermarket chain warns inflation is about to impact more Americans

An executive of Kroger, one of the largest supermarket chains in the United States, warned grocery prices are about to become even higher this year as inflation sets in.

Inflation is running hotter than previously anticipated, and prices are slated to rise an additional 2 to 3 percent over the second half of 2021, Kroger CFO Gary Millerchip said during a call with reporters.

Implemented Biden administration leading the economic war on women

The Bureau of Labor Statistics releases the second quarter national wage rate data today {BLS DATA HERE}. U.S. wages DECLINED 1.2% in the second quarter of 2021 compared to last year. When reviewing the data [Table 2], look at the negative impact to women, specifically Black and Asian women.

America is warned to brace for 4 years of rising inflation

A new Bank of America report predicts consumer prices will continue to soar for up to four years, as the Federal Reserve’s preferred measure of inflation hits its highest level in three decades.

In a note on Friday, BofA’s top strategist Michael Hartnett predicted inflation will remain in the 2-4 percent range over the next two to four years.