A significant number of Americans are concerned about rising prices and worried about the country sinking into recession this year, according to a CNBC/Momentive poll on financial literacy. Eighty-one percent of adults—91 percent of Republicans, 81 percent of Independents, and 73 percent of Democrats—expect recession to set in this year, according to the results of…
81 Percent of Americans Worried About Recession in 2022: Survey
A significant number of Americans are concerned about rising prices and worried about the country sinking into recession this year, according to a CNBC/Momentive poll on financial literacy. Eighty-one percent of adults—91 percent of Republicans, 81 percent of Independents, and 73 percent of Democrats—expect recession to set in this year, according to the results of…
Walk Forward Better
Commentary It’s an old Washington political trick. When you’re in trouble, change the subject. When President Biden’s poll numbers are low and falling, when the economy has produced the worst inflation in four decades and gas prices in some states have reached record highs, when he claims we should expect food shortages and produces gaffes…
And That’s Why They Call It ‘the Swamp’
Commentary With $30 trillion of debt—which has grown by $5 trillion in just the last two years, with another $2 trillion of red ink expected to get spilled this year—you might have expected Congress at least to pretend it will temper its reckless spending proclivities. But you would be sadly mistaken. Congress has just finalized…
The Biden Inflation Octopus
Commentary The Democrats will suffer historic losses in the November midterms. This disaster for their party will come about not just because of the Afghanistan debacle, an appeased Russian President Vladimir Putin’s invasion of Ukraine, the destruction of the southern border, the supply chain mess, or their support for critical race theory demagoguery. The culprit…
Inflation Is Eating Away at the Heart of America’s Small Businesses
Commentary Of the four restaurants Rick McQuaide owns across several counties in Western Pennsylvania, one is barely making a profit, two are losing money and the fourth has been “temporarily” closed for far longer than he ever anticipated. The 58-year-old small businessman from nearby Cambria County has one word for why he finds himself in…
The Most Dangerous Virus Today Is Runaway Government Spending
Commentary When I came to Washington, D.C., in 1985, Ronald Reagan was president. I was working for the Reagan budget office. We did something we weren’t very proud of at the time. We introduced the first $1 trillion budget in American history, which was unthinkable. One trillion dollars. There are 12 zeroes in a trillion….
JPMorgan Shares Fall as Mixed Outlook Sours Profit Beat
JPMorgan Chase & Co. posted fourth-quarter profit ahead of market expectations on Friday, but its shares fell as much as 6 percent as analysts expressed disappointment over its forecasts for future profitability. The country’s largest bank warned that its return on tangible capital equity (ROTCE), a key metric which measures how well a bank uses…
US Economy: The Main Shortage Is Workers
Commentary Washington has explained the entire inflation through supply chain problems. It’s why Federal Reserve (Fed) Chairman Jerome Powell initially described the pressure as “transitory.” Though he has withdrawn that descriptor, he continues to speak in terms of supply matters—so does President Joe Biden. The inflation probably has other causes as well, but even in…
A Weak Quarter at Bed Bath & Beyond, and Shares Soar
Losses widened at Bed Bath & Beyond as a tangled global supply chain continued to squeeze sales and the home goods chain lowered expectations for its final fiscal quarter, and also its full-year revenue. At the opening bell, however, shares of the company that have been grouped with other meme stocks of beaten down companies,…
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