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“Author Malcolm Gladwell slams working from home” Author Malcolm Gladwell thinks that remote work is hurting society and that a recession will likely drive employees who are “sitting in their pajamas” back into the office. The bestselling author of “Blink” and “The Tipping Point” grew emotional and shed tears as he told the “Diary of…
“US faces ‘L-shaped’ recession as Fed scrambles to tame inflation” The US economy will likely have to stay in recession for longer than anticipated in order to bring runaway inflation under control, according to a top analyst. Zoltan Pozsar, the global head of short-term interest rate strategy at Credit Suisse Group AG, wrote a client…
“New York Times’ Paul Krugman blasted for touting ‘Biden boom’” New York Times economic columnist Paul Krugman got blasted on social media on Tuesday after he insisted the US economy is enjoying a “Biden boom” — despite a recession and record levels of inflation. The Nobel Prize-winning professor posted a chart comparing the cumulative number…
“Former oil exec warns ‘gas will exceed $5 again’ amid recession worries” Joe Petrowski, former CEO of Cumberland Farms Gulf Oil Group, said on Monday that he is “absolutely certain” the United States will be in a recession. Speaking on “Mornings with Maria,” he noted that a recession usually comes along with “every energy crisis,” especially…
“Why Jay Gould was among the most hated men in Gilded Age America” Born in poverty in 1836, Jay Gould became one of the richest men in Gilded Age America but had few admirers. This was mostly because the Wall Street financier would do anything to make a buck: flouting laws, manipulating stocks, bribing officials, backstabbing…
” 3 Bitcoin trading behaviors hint that BTC’s rebound to $24K is a ‘fakeout’ “ Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near 10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down their prevailing tightening spree. They prompted some…
“White House takes heat after Biden adviser accused of ‘redefining recession’” The White House was accused of “redefining” the word “recession” on Wednesday after 2008 comments from the current-White House economic adviser resurfaced — appearing to counter his remarks on the matter just this week. On Tuesday, Brian Deese insisted that “two negative quarters of…
“Economist Nouriel Roubini calls predictions for shallow recession ‘delusional’” Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, believes the US is heading towards a deep recession and said those claiming the downturn will be mild are “delusional.” “There are many reasons why we are going to have a severe recession and a severe…
“Walmart warns of lower profit due to food, gas inflation” Walmart on Monday lowered its profit outlook for the second quarter and the full year, citing surging inflation on basics like food that is forcing shoppers to cut back on discretionary items, particularly clothing, that carry higher profit margins. That behavior is forcing the nation’s…
“HBO’s John Oliver shreds CNBC’s Jim Cramer over inflation flip-flops” HBO comedian John Oliver launched a scathing attack on CNBC’s Jim Cramer on Sunday, skewering the investing guru for flip-flopping on the proper response to surging inflation over the last several months. Oliver slammed Cramer during a lengthy segment on the ongoing inflation crisis on…