During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.
The Dow Jones Industrial Average added 1.14 percent on Thursday to a record close at 52,900 after setting an intraday record of 52,903.
The economic fallout from years of inflation, high borrowing costs, shifting consumer behavior, and mounting operational expenses continues to claim business across a wide range of industries.
As employers seek greater efficiency through automation, artificial intelligence, restructuring, and outsourcing, consumers and businesses alike are pulling back spending.
The Iran War is far from settled. Mideast oil and gas production facilities and shipping terminals have been damaged and not yet repaired.
The U.S. labor force participation rate – the share of people ages 15 through 64 working or actively seeking a job – declined to 61.5 percent in June, its smallest since 1976 aside from the COVID era, according to the Bureau of Labor Statistics (BLS).
The U.S. economy created 57,000 nonfarm jobs in June, according to the labor department’s flash estimate, barely half of the 110,000 expected by economists in a Reuters survey.
We maintain our trend forecast for a Dot.com Bust 2.0 which will result in a massive crash in the heavily overvalued equity markets.
Democrats in the U.S. Senate are looking into investments related to the Trump family that would seem to profit from Donald Trump’s policy decisions.
The economic fallout from years of inflation, high borrowing costs, shifting consumer behavior, and mounting operational expenses continues to claim business across a wide range of industries.