By: Caroline Adana The trade war ramps up as China is considering curbing its export of rare-earth metals. Since these metals are essential in electronics, solar panels, and electric vehicles, China puts pressure on President Joe Biden’s plans to switch U.S. energy production from fossil fuels to renewables. Background Rare-earth metals are atomic elements crucial to various […]
Money
U.S. budget deficit tops record high $1 trillion in first five months of FY 2021
In the latest development that should surprise no one, the U.S. government’s budget deficit through February soared to a record high. In the first five months of the budget year, the federal deficit surged to an all-time high of $1.05 trillion as spending outpaced tax revenues. This is 68 percent larger than the deficit that […]
INFLATION ALERT: Annual CPI surges 1.7% to 12-month high
Is this the start of rampant price inflation in America? On Wednesday, the Bureau of Labor Statistics (BLS) reported that the annual inflation rate hit a 12-month high, rising to 1.7 percent in February, up from 1.4 percent in January. This is in line with what economists had anticipated. Last month’s rising inflation was driven […]
California benefits the most from Biden’s $350 billion COVID-19 bailouts for states
After handwringing over legislation that would inevitably pass, the American people are finally getting a glimpse of what is inside the $1.9 trillion American Rescue Plan Act of 2021. The U.S. Senate will vote soon. Within the bill, the country learns who the top beneficiaries are for the $350 billion COVID-19 bailouts for states, cities, […]
The coming stock market crash?
By: Andrew Moran A year ago, the financial markets were infected with the coronavirus. Black Mondays, dead cat bounces, falling knives, and billions of dollars in liquidation dominated the business headlines. Twelve months later, equities are at record highs, commodities have been supercharged into a supercycle, cryptocurrency’s journey to the moon is back on, and armchair investors are beating the […]