US economy news
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- US inflation crisis deepens as wholesale prices soar
US wholesale prices continued to balloon at the fastest rate on record in October, portending further pressure on household budgets as rising costs ripple through the world’s largest economy. - America’s supply-chain crisis will drag into 2022, Pete Buttigieg tells CNN… taking brief break from his paternity leaveUS Transportation Secretary Pete Buttigieg has acknowledged that the national supply-chain breakdown, which intensified during his unannounced two-month paternity leave, will continue to keep store shelves empty next year.
- Millions more Americans fell into poverty in 2020 as Covid-19 lockdowns wrecked the US economy, Census report showsThe percentage of Americans living in poverty rose from a record low last year, with 3.3 million additional people being impoverished as Covid-19 restrictions wiped out more than a decade’s worth of economic gains.
- California's population declines for FIRST TIME ON RECORD as Covid-19 lockdowns wreck economy, home prices keep risingCalifornia’s population fell by 182,083 people in 2020, the state’s first decline on record, as residents were increasingly unable to afford rising home prices amid Covid-19 lockdowns that torpedoed jobs.
- Biden’s pick for budget director once championed funding social spending by MAKING LIBYA PAY for regime-change bombing campaignSelf-proclaimed President-elect Joe Biden has chosen a budget director, Neera Tanden, who once argued the US should ease funding shortages for left-wing social programs by making countries like Libya pay for being bombed.
- ‘F**king INFURIATING’: LA adds outdoor dining to banned list as Covid-19 cases spike, pushing more restaurants to brink of failureLos Angeles County has tightened its crackdown on surging Covid-19 cases by banning outdoor dining, leaving many restaurateurs with little hope of survival after trying to tailor their businesses to previous pandemic restrictions.
- Wall Street tumbles as US threatens China with tariffsUS stocks are facing a second straight day of losses, after President Donald Trump threatened to unleash a new barrage of retaliatory tariffs on China over the coronavirus crisis.
- Stocks and Chinese yuan cave in on Trump’s China tariff threatUS President Donald Trump’s renewed attack on Beijing over the coronavirus crisis has sunk the Chinese national currency, the yuan, to a one month-low, while global markets also dipped lower.
- ‘That’s a Ponzi scheme’: RT’s Keiser Report looks into US deflationary spiral caused by nonstop ‘printing of debt’Bond investors have started to debate whether the United States is heading into a deflationary spiral, even after trillions of dollars of stimulus has been injected into the coronavirus-hit global economy.
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