The personal consumption expenditures (PCE) price index, a key indicator of US inflation, rose by 2.1% in September, down from 2.2% in August. This is the lowest level since 2021 and is seen as a success for the Federal Reserve, which was aiming to reduce inflation to 2%. In a move from its previous stance that price growth would be “transitory”, the Federal Reserve raised interest rates to a 20-year high before beginning to cut them again in September. Despite this positive development, the high cost of living continues to be a hot topic ahead of the US presidential election. Furthermore, almost half of US citizens surveyed in a recent poll wrongly believe that the country is in recession.
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With the recent economic speech debacle from Trump, it’s evident that he continues to prove his lack of competency and understanding when it comes to important policy matters. His rambling and incoherent responses to questions about child care, Arab guests, China tariffs, and attacks on political opponents showcase his inability to articulate clear and concise ideas. It’s both embarrassing and concerning to witness the leader of a nation stumble through such crucial topics.
Trump’s attempt to discuss economic policies during his speech only underscored his ignorance and lack of understanding of basic economic principles. His proposal to have Elon Musk head a commission to root out government fraud and abuse is laughable, considering Musk’s erratic behavior and questionable business practices.… Continue reading
Kamala Harris is more trusted than Donald Trump on the US economy. This statement should not come as a surprise, given Trump’s track record of failed businesses, bankruptcies, and general incompetence in financial matters. It is bewildering to see anyone continue to place their faith in someone who has a history of deceit, fraud, and selfish motivations.
The economy is a crucial aspect of any country, and it requires stable and trustworthy leadership to thrive. Despite Trump’s claims of being a successful businessman, the reality is quite the opposite. From bankrupting casinos to shady business practices, he has left a trail of destruction in his wake.… Continue reading
The left-wing French coalition’s proposal to introduce a 90% tax on the rich is generating mixed reactions and sparking a heated debate. As someone who believes in progressive taxation and the redistribution of wealth, I can understand the motivation behind such a bold move. However, history has shown that extreme tax measures have often backfired and failed to generate the desired results.
President Hollande’s attempt at a 75% tax a decade ago serves as a cautionary tale, showing that such drastic measures can lead to an exodus of wealthy individuals, businesses, and investors from the country. The idea of implementing a 90% tax on income over €400,000 raises concerns about its effectiveness and practicality.… Continue reading
It’s no secret that Greece has been struggling financially for quite some time now. Ranked third in debt to GDP per country, the situation is dire. So, what does the government decide to do? Instead of exploring innovative solutions or policies that could potentially benefit the economy and its citizens, they opt for something rather archaic and counterproductive – a six-day working week.
As an individual who has personally experienced the draining effects of a six-day workweek, I can attest to how soul-sucking and demoralizing it can be. The idea that working more somehow equates to increased productivity is not only outdated but also detrimental to one’s mental and physical well-being.… Continue reading
The latest jobs report has left many perplexed and amazed at the same time. With hiring surpassing all expectations, it paints a picture of a resilient US economy, showcasing its strength and vigor. Yet, amidst this positive news, a lingering sense of complexity arises as the Federal Reserve contemplates its decision on a potential interest rate cut. It’s a strange juxtaposition, isn’t it? Just when we thought any rate cuts were a distant thought, the economy surprises us with a surge in job numbers and a promising outlook.
One cannot ignore the dichotomy of economic indicators that reflect the well-being of those who are thriving, while leaving behind those who are struggling.… Continue reading
As I sit here reflecting on the state of the economy and the role that authoritarian leaders like Trump and the GOP have played in shaping it, I can’t help but feel a sense of frustration and worry. It is a well-known fact that Republican presidents have a history of mismanaging the economy, leaving behind massive deficits and debt that burden future administrations. From Reagan to Bush II, and now Trump, the pattern is clear: tax cuts for the wealthy, reckless spending on wars and pet projects, and a blatant disregard for the well-being of the middle and working class.
I find it utterly perplexing that some people still believe in the false narrative that Republicans are better for the economy.… Continue reading
Tax the Rich is Actually a Popular Bipartisan Stance, Poll Shows
The notion of taxing the rich seems to be a hot topic these days, with a surprising amount of support coming from both sides of the political spectrum. It turns out that progressive policies like higher minimum wage, free college, and taxing billionaires are wildly popular among the general populace, regardless of their political affiliation. Recent polls have shown that a majority of Americans support these progressive measures, with swing-state voters also demonstrating strong backing for taxing the wealthy.
One can’t help but look back at a time when the country thrived under a president who had the courage to tax the rich.… Continue reading
$8.4 trillion. That’s the astounding amount that former President Trump added to the national debt during his time in office. To put it in perspective, that’s nearly $25,000 of debt for every U.S. citizen—an increase of 38%. And here’s the kicker: $940 billion of that debt was added even before the pandemic hit. So, this can’t be blamed solely on COVID-19.
It’s mind-boggling when some die-hard Trump supporters claim that they voted for him because of his supposed economic prowess. How could someone who claims to be a great businessman, someone who supposedly knows how to run a successful enterprise, amass such an incredible debt while in office?… Continue reading
John Q. Hosedrinker