It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
Category: 25 June 2024
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SPOTLIGHT ON THE U.S. HOUSING MARKET: SALES FALL, PRICES RISE
The median selling price of U.S. homes in May was $419,300, the National Association of Realtors (NAR) reported, the highest on record and 5.8 percent above the price a year earlier.
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FACTORY OUTPUT INCREASED IN MAY
Although retail sales slipped 0.1 percent last month, industrial production increased 0.9 percent, more than twice economists’ 0.4-percent forecast and reversing a decline in March and flat output in April.
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RETAIL SALES FALL FLAT IN MAY
U.S. retail sales increased by a scant 0.1 percent in May as retailers had to offer more discounts to entice cash-strapped consumers to buy, the commerce department reported.
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NEED A JOB? THE MILITARY-INDUSTRIAL COMPLEX IS HIRING
Defense contractors plan to hire tens of thousands of workers this year, expanding their payrolls at the fastest clip since the Cold War ended in the 1990s, according to a Financial Times survey of 20 defense-related companies in Europe and the U.S.
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MILITARY AID IS BALLOONING U.S. BUDGET DEFICIT
U.S. military aid to Israel and Ukraine is helping to push this fiscal year’s budget deficit from the $1.4 trillion estimated in February to $1.9 trillion, the nonpartisan Congressional Budget Office (CBO) has projected.
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THE AMERICAN MIDDLE CLASS IS VANISHING, PEW STUDY FINDS
The U.S. middle class, considered the economic home of most Americans and the engine of the nation’s economy, has been shrinking for 50 years, according to a new study by the Pew Research Center.
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SPECIAL EDUCATION NEEDS IN U.S. SURGE AFTER COVID WAR
More American children need special education than ever before and schools are having a hard time keeping up with the demand.
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MONEY RUNS U.S. POLITICS: BANKING HEIR GIVES TRUMP $50 MILLION
Tim Mellon, whose family held top jobs at banks, surprised Donald Trump’s campaign with $50 million in his 2024 effort, which only intensified the big-money rivalry playing out—and a further example of how the rich run the show.
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2021 UN IPCC REPORT: TRUST THAT SCIENCE LIES
A 2021 UN IPCC Report that has been used to justify U.S. and EU regulations progressively imposing a “radical transformation” of energy systems away from hydrocarbons, like so much “science” c. 2021, appears now to have been built on lies.