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“The push to push Joe Biden out and other commentary” Eye on elex: The Push To Push Joe Out “It’s pretty clear that the left is organizing to dump Joe Biden,” concludes Power Line’s Steven Hayward. Even “party insiders” are “publicly dumping on Biden,” including “David Axelrod, the impresario of Barack Obama’s rise to power.”…
“Back-to-school spending expected to plunge amid inflation” Retailers banking on strong back-to-school sales will feel the pinch this summer as strapped consumers are on track to sharply curtail their shopping sprees, according to new research. The critical back-to-school shopping season, which kicks off after July 4 weekend, will grow by 5.5% this year, compared to…
“Bitcoin dips below $19K as crypto fund Three Arrows implodes” Bitcoin briefly sank below $19,000 on Thursday, hitting a fresh low for the year as investors digested the collapse of cryptocurrency hedge fund Three Arrows and the rising risk of an economic recession. The leading cryptocurrency was down 4.4% at $19,209.20 as of 9:30 a.m….
“Bear market spells big trouble for NY state and city budgets” Wall Street generates an outsized share of New York’s tax revenue, so the recent drop in stock prices should worry both Gov. Kathy Hochul and Mayor Eric Adams — even if a recession doesn’t quickly follow. The securities industry generates 20% of total private…
“US recession this year is more likely than not: Nomura analysts” The US economy is more likely than not to sink into a recession this year as the Federal Reserve tightens monetary policy in its bid to cool decades-high inflation, economists warned Monday. “Disruptions in the energy and food sectors, coupled with declining consumer sentiment,…
“Stephen Ross thinks recession will drive people back to office” Billionaire real estate tycoon Stephen Ross suggested Friday that a looming US economic recession could put an end to the work-from-home craze that swept the country during the pandemic. Ross, whose firm Related Cos. owns office space in New York and across the US, suggested…
“Joe Biden’s economic czar Brian Deese dodges inflation question” A top economic adviser to President Biden repeatedly dodged the question of when the scorching, decades-high inflation that has vexed Americans for months will return to normal. Fox News anchor Martha MacCallum asked Brian Deese, the director of the White House National Economic Council, for a…
“Wall Street’s favorite recession indicator is flashing red” A closely watched recession predictor in the bond market just flashed red, spurring fresh concern that the US economy is on track for a downturn this year as a result of the Federal Reserve’s war on inflation. The spread between the 2-year and 10-year Treasury yields inverted this week…
“Billionaire Leon Cooperman calls cryptocurrency ‘crap’” Stocks still have further to fall, billionaire investor Leon Cooperman warned on Tuesday — adding that speculative assets such as SPAC deals, cryptocurrencies and NFTs are “crap” and aren’t likely to recover anytime soon. Cooperman, the chairman and CEO of Omega Advisors, said he sees the US economy falling…
“Fed still ‘much too optimistic’ on inflation” Ex-Treasury Secretary Larry Summers warned that the Federal Reserve’s forecasts on inflation have been “much too optimistic” so far — and warned that the US economy is teetering on the edge of a recession. Summers, an early and frequent critic of the Fed’s response to surging inflation that…