Despite the federal government pledging to refill America’s emergency oil reserves by about three million barrels in the future, the Strategic Petroleum Reserve (SPR) continues to be drained. In fact, for the week ending Dec. 16, the SPR witnessed a 3.647-million-barrel drop, resulting in the lowest level since December 1983, according to the Energy Information […]
U.S. housing market recession worsens as existing home sales, building permits plummet
The recession in the U.S. housing market worsened last month. Existing home sales plummeted 7.7 percent in November to 4.09 million units. This was down from -5.9 percent in October and worse than the market forecast of -5.4 percent It was the worst level since May 020. This comes after building permits plunged 11.2% in […]
18 of the most outrageous pieces of spending in the $1.7 trillion omnibus bill
Republicans folded more quickly than someone with one pair in a poker game. The GOP, despite its tough talk, is essentially giving President Joe Biden what he wants: $1.7 trillion for an omnibus spending bill. In fact, the Senate Republicans are giving the White House a 9.3 percent annual increase in non-defense funding, more than […]
The nothingburger regarding Donald Trump’s 2015-2020 tax returns
The U.S. House Ways and Means Committee voted to approve the release of former President Donald Trump’s tax returns. The Democrats say this is about transparency and understanding the presidential auditing program. Republicans contend that this is a new political weapon that could target politicians and the average citizen if they become enemies of the […]
U.S. housing market recession deepens as NAHB index falls to lowest since 2012
The U.S. housing recession is deepening. The National Association of Home Builders (NAHB) published the Housing Market Index data for December. The number? Thirty one, down from 33 in November. The market consensus was 34. This represented the 12th consecutive monthly decline in sliding confidence for homebuilders. It was also the lowest reading since 2012 […]