Senate Majority Leader Chuck Schumer (D-N.Y.) is urging the U.S. Food and Drug Administration (FDA) to look into a popular energy drink that he says is posing health risks to children. “PRIME Energy Drink has so much caffeine that it could endanger kids’ health. But it’s being marketed to kids! Parents and pediatricians are worried….
FDA Urged to Investigate Energy Drink Due to Potential Harms to Children
July 10, 2023
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US Consumers Are Suffering in a Less Than Robust Economy
Commentary Keynesian policies are damaging what they were intended to support. No example is more evident than what’s occurring in the United States. A few years ago, in 2021, I had a conversation with the economist Judy Shelton wherein she said that the recovery would be much stronger without the stimulus package, and she was…
Dollar Recovers a Touch, Inflation Data Boosts Norway’s Crown, Hurts China’s Yuan
SINGAPORE/LONDON—The dollar regained ground on Monday, partly recovering from a knee-jerk reaction to Friday data showing U.S. job gains were the smallest in two-and-a-half years, while disappointing inflation figures in China weighed on the yuan and proxies. The dollar index, which tracks the greenback against a basket of major peers, was up 0.15 percent at…
Oil Eases on China, US Data, but OPEC+ Cuts Limit Fall
LONDON—Oil prices dipped on Monday after weak economic data from top consumers the United States and China, although expected crude supply cuts from Saudi Arabia and Russia limited losses. Brent crude futures fell 40 cents, or 0.5 percent, to $78.07 a barrel by 1005 GMT, and U.S. West Texas Intermediate crude was also off 40…
Stocks Take a Breath While Bonds Choke on China Disinflation Drag
July 10, 2023
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LONDON/SYDNEY—Global stocks took a breath on Monday after a surprisingly low reading on Chinese inflation and ahead of data on U.S. inflation and corporate earnings later in the week. The pan-European STOXX 600 index rose 0.1 percent by 0840 GMT while US stock S&P futures declined 0.2 percent and Nasdaq futures fell by 0.3 percent….
Victorians to Bear Australia’ Heaviest Property Taxes
Victorian homeowners will be hit with the heaviest property tax in Australia from the 2023-2024 financial year onward as the state Labor government carries out its COVID-19 debt repayment plan. According to a new report by the Victorian Parliamentary Budget Office, Victorians will need to pay an estimated property tax (land transfer duty plus land tax)…
Inflation the Price to Pay for Big Government: Shadow Treasurer
SYDNEY, Australia—Shadow Treasurer Angus Taylor said Australians were currently suffering the consequences of big government. “Inflation is the price that everybody pays for excessive government. It is a thief in the night,” he said in a speech at the Friedman Conference in Sydney on July 8. Championing the late American economist Milton Friedman’s words that…
Britcoin ‘Will Change Everything,’ Analyst Warns
A Bank of England (BoE) digital pound will be a “complete restructure” of the current financial system and can give the government more control on how people use their money, a financial analyst warns. Some 130 countries are exploring a central bank digital currency (CBDC), according to the Atlantic Council. The Bank of England (BoE) and…
Supreme Court Revives Whistleblowers’ Medicare, Medicaid Fraud Lawsuits
July 9, 2023
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The Supreme Court resurrected two whistleblower lawsuits against companies for allegedly defrauding Medicare and Medicaid. The cases concern the federal False Claims Act (FCA), a key tool the government uses to combat health care fraud, and “scienter,” a legal term meaning prior intent or knowledge of wrongdoing. Sen. Charles Grassley (R) has called the FCA…
Treasury Secretary Says US Recession ‘Not Completely Off the Table’
Treasury Secretary Janet Yellen said that a U.S. recession is still “not completely off the table” in the near future, but she claimed the country is on the right path in bringing down decades-high inflation. “It’s not completely off the table,” Ms. Yellen told CBS News’ “Face the Nation” on Sunday about a possible recession…
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