Independent thinking for complex markets and current events
Con Edison says voltage reduced about 8 percent in parts of Queens and Brooklyn for equipment repairs during peak heat demand. Residents report something very different on the ground. Some areas like Richmond Hill and surrounding neighborhoods say power is fully out since midday, not just reduced. COMPLETE power was shut off here in Richmond …
Authored by Mike Shedlock via mishtalk, Let’s compare Trump’s claim to actual trade numbers. US Balance of Trade Goods Only Through November 2025 Key Trade Deficit Points Last year, the goods trade deficit $1.205 trillion. Through November, the trade deficit is $1.134 trillion. There will be no significant change in the trade deficit in 2025 …
Over 330,000 Federal employees have been fired, resigned, or retired last year and were not replaced. The Federal workforce is now at its lowest level since 1966. pic.twitter.com/cRu6x8XAS4 — Christian Heiens 🏛 (@ChristianHeiens) February 15, 2026 Based on OPM data and analyses, the reduction of ~317,000 federal employees in 2025 yields estimated annual savings of …
During the first 11 months the trade deficit of $840 billion was up 4% from $807 billion during the same months of 2024. So Trump's 78% reduction claim is too stupid to even be considered a lie! https://t.co/JbVugAXKZs — David Stockman (@DA_Stockman) February 13, 2026
I would have called it The Explosive Spending Expansion Act (ESEA) — Bag Holder IQ (@BagholderIQ) July 3, 2025 Was I wrong to criticize the Big Beautiful Bill? There are elements about it that I love, like increased border security. But there are elements that seem dangerous in the long run, like increased digital surveillance …
Speaker Mike Johnson told Republican holdouts on the party’s crucial budget plan in a private meeting Wednesday night that they could oust him from the speakership if he doesn’t follow through with his fiscal promises, according to three people with direct knowledge of the matter who were granted anonymity to discuss it. Johnson pledged to …
Fed Minutes (January 2025) Fed can maintain policy at restrictive level if economy strong Several participants suggest halting or slowing balance sheet reduction pending debt ceiling resolution Two participants believe risks to achieving inflation mandate outweigh risks to employment mandate Most participants judged risks to dual mandate objectives were roughly in balance Fed wants further …
The Inflation Reduction Act became the Inflation Perpetuation Act. The cumulative inflation (CPI) from Jan 2021 to December 2024 is 21.8%. The cumulative core inflation (excluding food and energy) is even higher, at 23.5%.Prices did not fall in December; CPI rose 0.4% and… — Daniel Lacalle (@dlacalle_IA) January 18, 2025
TLDR: IRS recouped $4.7B from unpaid taxes and criminal proceeds after Inflation Reduction Act boost. $1.3B from overdue taxes by wealthy individuals. $2.9B from criminal cases targeting drug traffickers, cybercriminals, and terrorist financiers. $475M from whistleblower tips on hidden income and tax fraud. $292M from 28,000 high earners who hadn’t filed since 2017. IRS-Criminal Investigation …
BREAKING: Total US public debt hits a record $36.17 TRILLION, up $1 trillion over the last 105 days. US federal debt has risen by an average of $9.5 billion per day over the last 105 days. At the current pace, total US debt would hit $40 trillion for the first time in history by February …
The USDA Nutrition Guidelines Committee previewed their new guidance today on an internal zoom. A CORE principle is “REDUCING focus on chronic disease reduction.” Committee members are paid by Novo Nordisk, Eli Lilly, Abbott, and Mars. And yes, Dr. Fatima Cody Stanford is a member of this panel which makes the nutrition guidelines for our …
1) One of the reasons the seller on this listing had to cut so much is because of massive oversupply in the market. Inventory in Punta Gorda is up almost 800% from pandemic low in this ZIP code. And is double pre-pandemic levels. Thus: you need to cut massively to sell.… pic.twitter.com/xzgB3wYZYw — Nick Gerli …
JUST IN: President Biden admits that the 'Inflation Reduction Act' was not actually about inflation after he started ranting without the teleprompter. Holy sh*t. Biden said the Inflation Reduction Act was actually about funding Climate Change efforts and said the Act should… pic.twitter.com/rpykPxKRRN — Collin Rugg (@CollinRugg) September 5, 2024
Senator Shelley Moore Capito (R-W.Va.), Ranking Member of the Environment and Public Works (EPW) Committee, and Senator Pete Ricketts (R-Neb.) GOP senators have accused the Biden-Harris administration of funneling taxpayer dollars into radical extremist groups through the controversial Inflation Reduction Act (IRA). During a press conference on Wednesday, Rep. Shelley Moore Capito (R-WV) and Rep. …
Wentworth also said in an interview with the Wall Street Journal that the company has not settled on a final number of locations to close. Walgreens operates roughly 8,700 stores in 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands, according to its website. Wentworth also told the Wall Street Journal …
via Mike Shedlock Let’s check in on the not exactly impressive energy and inflation results of Biden’s Inflation Reduction Act (IRA). Data from the BLS, chart by Mish Biden’s energy policy has been an inflationary disaster. And make no mistake, the IRA was nothing but energy policy, more precisely, climate policy. The Inflation Reduction Act …
Fed Chair Powell is kicking off the Q&A portion of his press conference now. Even as inflation has been reaccelerating, the Fed doesn't seem to concerned. A long pause still seems to be needed right now. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) March 20, 2024 Agreed, …
IROBOT To Lay Off 31% Of Workforce *IROBOT TO LAY OFF 31% OF WORKFORCE — zerohedge (@zerohedge) January 29, 2024 The robots from @iRobot, Rosie, the Roomba, and Florence, the Braava jet mop, are hard at work this morning. I don’t usually turn them on at the same time, but they work well together. pic.twitter.com/3zKlH7CerD …
Hmmm, spending increases inflation doesn’t it? I had occasion to read the bill a bit this afternoon. What a convoluted mish-mash of crap! Seems mostly about the new clean energy initiatives, so maybe it could have been called that? But the bill wanders around like a drunken sailor throwing money at whatever strikes his fancy. …
via Mike Shedlock: Surprise, surprise. Subsidies were not enough to make Biden’s energy projects profitable. The Coming Green Energy Bailout Taxpayers will soon be on the hook for The Coming Green Energy Bailout The Inflation Reduction Act (IRA) includes hundreds of billions of dollars in subsidies for green energy, yet now renewable developers want utility rate-payers …
Pain at the pump as gas prices hit the HIGHEST seasonal level in a decade: Average price stands at $3.811 a gallon The national average for a gallon of gasoline stands at $3.811, AAA data shows The move is significant as it comes at a period when prices historically decline Data shows 2023 to by atypical …
via Mike Shedlock Surprise, surprise. Subsidies were not enough to make Biden’s energy projects profitable. The Coming Green Energy Bailout Taxpayers will soon be on the hook for The Coming Green Energy Bailout The Inflation Reduction Act (IRA) includes hundreds of billions of dollars in subsidies for green energy, yet now renewable developers want utility rate-payers …
via YAHOO: WASHINGTON (AP) — Even President Joe Biden has some regrets about the name of the Inflation Reduction Act: As the giant law turns 1 on Wednesday, it’s increasingly clear that immediately curbing prices wasn’t the point. While price increases have cooled over the past year — the inflation rate has dropped from 9% …
https://t.co/o6p06hiTeW — Charlie Bilello (@charliebilello) August 7, 2023 h/t Simian_Stacker
UPI reported: The Biden administration has announced plans to continue its reduction of hydrofluorocarbons, releasing a new rule that aims to cut the United States’ use of the greenhouse gases by almost half starting next year. Hydrofluorocarbon is a category of greenhouse gases used for refrigeration and air-conditioning as well as in a number of other …
And he flies by helicopter from this yacht to restaurants — Michael Bach (@mbnaturopath) July 12, 2023 World leaders arrive in their private jets to talk about the imminent risks of climate change to our planet pic.twitter.com/dUcdyCZQFa — Not Jerome Powell (@alifarhat79) July 11, 2023 Just a year and a half ago, 30% of Democrats …
via thecountersignal: The World Economic Forum (WEF) Great Reset agenda was on full blast recently after the organization published a blueprint to drastically cut the number of personal vehicles globally from 1.45 billion to 500 million by the year 2050. WEF demands 75% global reduction of cars by 2050 If achieved, the massive cut to …