Is Florida ready for a possible recession?
Is the Sunshine State ready for the possibility that a recession may be near?
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Fox NewsRestaurants in deep-blue cities starved for diners while Florida is feasting
Global restaurant industry data from OpenTable shows that cities such as Minneapolis, San Francisco and Seattle are struggling to recover from the pandemic. Florida cities are booming.
- Quartz
Why Americans are so confused about what's happening with inflation
When July inflation figures came out last week, economists and federal policymakers cheered. Compared to June, overall consumer prices were flat.
- KSAZ
Thousands of Arizonans being asked to pay back the unemployment money they received
So far this year, 10,000 Arizonans learned they have to pay back their unemployment to the Arizona Department of Economic Security, due to no fault of their own.
- Fortune
Jamie Dimon warns ‘something worse’ than a recession could be coming
The prediction, while vague, is direr than those of most other executives, including Goldman Sachs chief David Solomon and BlackRock’s Larry Fink.
- MarketWatch
Should Social Security be eliminated as a federal entitlement program? Or would that ‘end the program as you know it’?
Under the current structure, Social Security and Medicare budgets are automatically approved and paid out, but under Wisconsin Republican Sen. Ron Johnson’s plan, Congress would have the chance to review and edit these programs’ budgets every year. “If you qualify for the entitlement, you just get it no matter what the cost,” Johnson said during an interview on “The Regular Joe Show.” “What we ought to be doing is we ought to turn everything into discretionary spending so it’s all evaluated so that we can fix problems or fix programs that are broken, that are going to be going bankrupt.”
- GOBankingRates
Stimulus Checks: Is Your State Giving Out Cash This Fall?
There have been three rounds of stimulus checks issued since the onset of the pandemic, but another round is sorely needed by many. States are rising to the occasion, however, not every state is...
- The Hill
Fetterman in new ad blames Washington for economic ‘mess’
Pennsylvania Senate candidate John Fetterman is blaming Washington, D.C., for the economy’s “mess” in a new ad released on Tuesday. “The truth is that our economy is a mess because of Washington. The rich, powerful, the insiders and the lobbyists. They’re lying about me to take the heat off themselves. It’s Washington’s fault,” Fetterman, a…
- The Telegraph
Chaos in corporate Britain as wages crash despite record job vacancies
It is meant to be a fundamental economic rule that when unemployment falls, wages rise. Companies have to offer higher pay as competition for new staff intensifies – or just to keep existing workers from jumping ship.
- Motley Fool
3 Reasons a Large Social Security Cost-of-Living Adjustment Is Bad News
Will Social Security's next cost-of-living adjustment (COLA) make 2022's seem negligible? There's reason to believe it might. Granted, it's too soon to land on a solid estimate because we need third quarter data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) to calculate that number precisely.
- Associated Press
Kemp will hand out up to $1.2B in cash to poorer Georgians
Gov. Brian Kemp said Monday he will spend up to $1.2 billion in federal COVID-19 aid on payments of $350 apiece to more than 3 million Georgians who benefit from Medicaid, subsidized child health insurance, food stamps or cash welfare assistance. The move comes atop Kemp's proposals last week to spend $2 billion in state surplus, split between property tax rebates and a second round of income tax rebates, if voters choose him for a second term in November over Democratic challenger Stacey Abrams.
- Business Insider
Markets have misinterpreted the most recent statements from the Fed - and its likely the central bank will push rates past 4%, former New York Fed president says
Rate cuts wont come as soon as investors think, and the Fed still has a long way to go before reaching its 2% inflation target.
- Austin American-Statesman
Kevin McCarthy’s mostly false claim about an army of 87,000 IRS agents
The 87,000 figure includes hires across the agency, including IT and taxpayer services, not just enforcement staff as the claim suggests.
- MarketWatch
The emotional scars of inflation will shake the foundations of Western societies
Politicians and economists haven't realized that the old social contract that venerated markets above all has been irreparably damaged by crisis upon crisis.
- MoneyWise
How can I earn positive returns while the economy stalls? Here are 3 proven recession-resistant stocks to keep you ahead of the game
We're in a recession. Prep your portfolio accordingly.
- GOBankingRates
Gas Prices for Every Decade Since 1930
Gas prices are finally starting to fall back down to earth in much of the country. According to AAA, the national average is down to $4.189 per gallon as of Aug. 2. Fuel costs started to climb just as...
- Bloomberg
Colombia’s Economic Growth Beats Forecasts in Boost for Petro
(Bloomberg) -- Colombia’s economy beat expectations in the second quarter in a boost for the government of President Gustavo Petro, who took office this month. Most Read from BloombergIn Defeat, Cheney Vows to Do ‘Whatever It Takes’ to Block TrumpAmerica’s $7 Trillion Retirement Crisis Is Only Getting WorseSaudi Billionaire Made $500 Million Russia Bet at War OnsetBill Gates and the Secret Push to Save Biden’s Climate BillThese Six Cities Are Emerging as New Expat Hot SpotsGross domestic product
- Fox News
Biden and congressional Democrats have spent about $3.8 trillion on their agenda since Inauguration Day
Democrats are riding a wave of legislative successes between last summer and this year that few expected, and it totals $3.8 trillion in taxpayer money.
- Bloomberg
Germany Slaps Levy on Households to Spread Pain of Gas Surge
(Bloomberg) -- Germany’s government said households will face additional annual costs of about 290 euros ($296) to pay for natural gas as the burden of Russia’s squeeze on energy flows to Europe is redistributed.Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War Onset‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsWells Fargo Plans Major Retreat From Mortgage Business It Long DominatedDOJ Opposes Release of Affidavit in Trump Search, Citing
- Quartz
China can’t afford to worry about inflation right now
China’s central bank kicked off the week with a big surprise: cutting a key lending rate by 10 basis points—despite signaling just a few days before that it had no immediate plans for rate cuts.
- The Telegraph
Inflation crisis wipes out 16 years of pay growth
Workers have suffered the sharpest hit to their real wages on record with a 4pc drop that sent pay back to the same level as 2006.