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“Hungry? Democrats say ‘eat cake’ “ When faced with irrefutable evidence of failing policies and crumbling political fortunes, politically rational presidents undertake a course correction. They reverse unpopular policies and adopt more productive ones, even if only out of self-interest. President Biden and the Democrats, however, are pointedly ignoring the laws of political rationality. They stubbornly…
“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…
“Kohl’s cuts annual forecast as it gets stung with inflation” Kohl’s Corp. cut its annual earnings and sales forecast, as the department store chain joins a string of retailers stung with soaring inflation. The reduction, announced Thursday, came as it reported fiscal first-quarter results that came below analysts’ expectations. Sales at stores opened at least…
“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…
“Microsoft doubles budget for employee salaries to address inflation, retain talent” Microsoft plans to boost salaries and benefits to retain its talent in the competitive labor market as decades-high inflation has sapped the buying power of American workers. The Seattle-based tech giant said Monday it would “nearly double” its budget for employee pay as part…
“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…
“Lloyd Blankfein warns of ‘very, very high risk’ of recession” Former Goldman Sachs chief executive Lloyd Blankfein is warning there is a “very, very high risk” of recession — and said if he were still running a “big company,” he would “be prepared” for that possibility. In a “Face the Nation” appearance Sunday, Blankfein warned…