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“Team Biden might be purposefully crushing the middle class” Vladimir Lenin supposedly once said, “The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” There’s some doubt as to whether this line is genuine; regardless, it seems like a pretty good description of what the Biden administration is…
“Instacart slows hiring across the company amid tech downturn” Instacart told employees Thursday that it’s slowing hiring across the entire company as the grocery delivery giant looks to weather an increasingly brutal tech downturn, The Post has learned. The news comes two months after Instacart slashed its valuation from $39 billion to $24 billion and…
“US economy shrank by 1.5% in first quarter of 2022” The US economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter. Last quarter’s drop in the US…
“HSBC suspends exec Stuart Kirk over climate change remarks” British banking giant HSBC has suspended a top executive who argued during a recent public presentation that the financial risks of climate change were overblown and exaggerated by central bank officials and other policymakers. The suspended employee, Stuart Kirk, is global head of responsible investment at…
“Letters to the Editor — May 21, 2022” The Issue: The Post’s cover story on inflation, gas prices and other crises under the Biden administration. President Biden and his administration have been an unequivocal disaster in their short tenure at the helm (“Joe’s Train Wreck,” May 19). They have a slobbering affinity and preoccupation with…
“Americans are likely facing a deeper-than-normal recession” Tolstoy famously wrote that all happy families resemble one another, but each unhappy family is unhappy in its own way. He might have said the same about unhappy economies — and added that there are all too many signs the US recession now in the works will likely…
“Stagflation in US economy ‘unavoidable,’ economist El-Erian says” The onset of debilitating stagflation within the US economy is likely “unavoidable” even if the Federal Reserve manages to avoid a full-fledged recession, famed economist Mohamed El-Erian warned on Wednesday. El-Erian, the chief economic adviser at Allianz, indicated that stagflation would take hold despite the Fed’s plan…
“Biden owns our baby formula mess” President Joe Biden says only “mind readers” could have foreseen the baby formula shortage. But don’t add telepathy to New York’s Rep. Elise Stefanik’s list of abilities: She saw it coming simply because she actually watches out for her constituents. The crisis now has 43% of formula out of stock,…
“‘Tinkering’ deepens economic hole and other commentary” Libertarian: ‘Tinkering’ Deepens Economic Hole “Rising prices are largely the result of foolish policy,” yet “there’s actually a constituency for doubling down on political interference in the economy,” rages Reason’s J.D. Tuccille. Inflation “at least partly” stems from officials “attempting to ‘help’ us through the disruptions of the…
“Larry Summers defends Biden from Bezos attack over inflation” Former Treasury Secretary Larry Summers defended the Biden administration Monday during its spat with Amazon founder Jeff Bezos – who has warred with the White House on Twitter after arguing that the president’s policies contributed to inflation. Summers, who has been critical of the administration’s handling…