The number of U.S. six-figure earners living paycheck to paycheck has reached 49 percent, according to the latest LendingTree study, compared to 42 percent at the end of last year.
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U.S. CONSUMERS: DEEP IN DEBT, BUYING MORE
Consumer spending rose 0.8 percent last month after rising just 0.1 percent in both February and March, the U.S. commerce department reported. Even adjusted for inflation, spending was up 0.5 percent in April.
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INFLATION RISES UNEXPECTEDLY IN APRIL
The Personal Consumption Expenditures Price Index, the U.S. Federal Reserve’s favorite measure of inflation, rose 0.4 percent in April after gaining just 0.1 percent in March.
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DOLLAR TREE MISSES EARNINGS TARGET, CUTS OUTLOOK
Dollar Tree’s earnings in its most recently completed quarter missed analysts’ expectations and sent the company’s share price sliding 14 percent.
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MONEY MARKET FUNDS CONTINUE TO RAKE IN RECORD CASH
Investors and bank depositors seeking a combination of safety and high returns continued sending their cash into money market funds last week as a U.S. debt default remained possible and fears about the banking industry continued to reverberate.
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NO HEALTHY INDIVIDUALS UNDER 50 DIED FROM COVID-19 IN ISRAEL: DATA
Not one healthy person under the age of 50 died from COVID-19 in Israel, according to data released by Israel’s Ministry of Health in response to a freedom of information request—further proving that the outbreak was never a “pandemic.”
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COLLEGE CRASH TOP TREND ON-TREND: ENROLLMENT CONTINUES DECLINE
As we forecast when politicians launched the COVID War in 2020 and colleges forced students to learn from home and then prohibited them to return to school if they refused to get the COVID Jab, fewer students would be going to college.
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SURGEON GENERAL WARNS OF ‘PROFOUND’ MENTAL HEALTH RISKS TIED TO SOCIAL MEDIA
Dr. Vivek Murthy, the U.S. surgeon general, issued an advisory last week warning of the risks that social media sites have on mental health—especially young people—and called on lawmakers and Big Tech companies to enforce age minimums and create default safety settings.
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ANTI-CHINA RHETORIC FROM G7 MEETING MOVES MOSCOW AND BEIJING EVEN CLOSER
China has warned European countries against following the U.S. down the path of confrontation in its zero-sum game to prevent the emergence of a unipolar world and to keep the current “global world order.”
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EUROPE: FIRST AN ENERGY SHOCK, NOW A FOOD SHOCK
Europe’s cost of natural gas began rising sharply in the run-up to the Ukraine war as Russia curtailed gas deliveries to the continent in a show of political pressure; then gas prices skyrocketed again after Russia invaded Ukraine and the West slapped sanctions on Russia’s exports.
