Economic Truths | Eastern NC Now

In the fog of war between Conservative Realists and the Democratic Socialist Propagandists, there are base economic truths that must be maintained, and they can be found here.

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Economic Truths  

In the fog of war between Conservative Realists and the Democratic Socialist Propagandists, there are base economic truths that must be maintained, and they can be found here.

JPMorgan Chase assumed control of First Republic Bank on Monday after the latter company collapsed due to turmoil in the financial sector.
JPMorgan Chase assumed control of First Republic Bank on Monday after the latter company collapsed due to turmoil in the financial sector.
 
With the upcoming 2023 federal Farm Bill currently in the works, it’s a good time to talk about some of the negative consequences of farm subsidies, which we will most likely see an increase in.
With the upcoming 2023 federal Farm Bill currently in the works, it’s a good time to talk about some of the negative consequences of farm subsidies, which we will most likely see an increase in.
 
Berkshire Hathaway stockholders overwhelmingly rejected proposals related to the environmental, social, and corporate governance movement, also known as ESG, at a shareholder meeting over the weekend.
Berkshire Hathaway stockholders overwhelmingly rejected proposals related to the environmental, social, and corporate governance movement, also known as ESG, at a shareholder meeting over the weekend.
 
Walmart announced the closure of four stores in Chicago, Illinois, on Tuesday due to poor performance at the locations, a move that also occurs as the city sees worsening crime rates.
Walmart announced the closure of four stores in Chicago, Illinois, on Tuesday due to poor performance at the locations, a move that also occurs as the city sees worsening crime rates.
 
FTX, the bankrupt cryptocurrency exchange formerly led by Sam Bankman-Fried, collapsed as a result of mismanagement from senior executives, according to an interim report from attorneys charged with managing the bankruptcy.
FTX, the bankrupt cryptocurrency exchange formerly led by Sam Bankman-Fried, collapsed as a result of mismanagement from senior executives, according to an interim report from attorneys charged with managing the bankruptcy.
 
A record 69% of Americans have a negative view of the economy, according to one poll.
A record 69% of Americans have a negative view of the economy, according to one poll.
 
PacWest stock plummeted as investors remain worried about the financial sector, a decline which occurred despite Federal Reserve officials assuring market actors hours earlier that the banking system is “sound and resilient.”
PacWest stock plummeted as investors remain worried about the financial sector, a decline which occurred despite Federal Reserve officials assuring market actors hours earlier that the banking system is “sound and resilient.”
 
Currency experts in both the public and private sectors are now warning all investors to shy away from buying cryptocurrency, declaring it a complex scam hidden beneath a financially precarious investment.
Currency experts in both the public and private sectors are now warning all investors to shy away from buying cryptocurrency, declaring it a complex scam hidden beneath a financially precarious investment.
 
Unemployment fell in March as the number of new jobs aligned with expectations, according to data from the Bureau of Labor Statistics released Friday.
Unemployment fell in March as the number of new jobs aligned with expectations, according to data from the Bureau of Labor Statistics released Friday.
 
Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday that she expects policymakers will increase the target federal funds rate beyond 5.0% as inflationary pressures continue to impact the economy.
Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday that she expects policymakers will increase the target federal funds rate beyond 5.0% as inflationary pressures continue to impact the economy.
 
In the era where politics has become increasingly tribalistic, we seldom see significant bi-partisan support from leadership within both parties. The Reorganization and Economic Development Act, House Bill 346, is one exception.
In the era where politics has become increasingly tribalistic, we seldom see significant bi-partisan support from leadership within both parties. The Reorganization and Economic Development Act, House Bill 346, is one exception.
 
The United States risks defaulting on its debt as early as June 1, Treasury Secretary Janet Yellen announced on Monday.
The United States risks defaulting on its debt as early as June 1, Treasury Secretary Janet Yellen announced on Monday.
 
Layoffs among employers based in the United States increased nearly 400% between the first three months of last year and this year.
Layoffs among employers based in the United States increased nearly 400% between the first three months of last year and this year.
 
Country music stars John Rich and Travis Tritt have both joined in a boycott against Bud Light after the company went viral for a promotional deal with trans activist Dylan Mulvaney.
Country music stars John Rich and Travis Tritt have both joined in a boycott against Bud Light after the company went viral for a promotional deal with trans activist Dylan Mulvaney.
 
JPMorgan Chase CEO Jamie Dimon called for lawmakers to take drastic action in favor of a renewable energy transition, including the seizure of private property to make more land available for solar and wind farms.
JPMorgan Chase CEO Jamie Dimon called for lawmakers to take drastic action in favor of a renewable energy transition, including the seizure of private property to make more land available for solar and wind farms.
 
Google executives will scale back a number of the technology firm’s notoriously lavish employee perks amid efforts to reduce costs and increase profitability.
Google executives will scale back a number of the technology firm’s notoriously lavish employee perks amid efforts to reduce costs and increase profitability.
 
Saudi Arabia, whose relationship with the United States has taken a nosedive during President Joe Biden’s tenure, announced on Sunday it would lead the members of the Organization of the Petroleum Exporting Countries (OPEC), including Russia, to cut over one million barrels of output a day
Saudi Arabia, whose relationship with the United States has taken a nosedive during President Joe Biden’s tenure, announced on Sunday it would lead the members of the Organization of the Petroleum Exporting Countries (OPEC), including Russia, to cut over one million barrels of output a day
 
Small businesses impacted by the current economic tumult are filing for bankruptcy at levels last witnessed at the outset of the lockdown-induced recession, even as President Joe Biden touts an uptick in new business ventures.
Small businesses impacted by the current economic tumult are filing for bankruptcy at levels last witnessed at the outset of the lockdown-induced recession, even as President Joe Biden touts an uptick in new business ventures.
 
The Consumer Price Index (CPI) rose 0.1% in March after increasing 0.4% in February according to the latest release from the Bureau of Labor Statistics. On an annual basis, prices have increased 5.0%.
The Consumer Price Index (CPI) rose 0.1% in March after increasing 0.4% in February according to the latest release from the Bureau of Labor Statistics. On an annual basis, prices have increased 5.0%.
 
Artificial intelligence could replace as much as 7% of jobs in the United States, especially among white-collar professions, according to a report published this week by Goldman Sachs.
Artificial intelligence could replace as much as 7% of jobs in the United States, especially among white-collar professions, according to a report published this week by Goldman Sachs.
 
Former Starbucks CEO Howard Schultz asserted during a Senate hearing Wednesday that American cities have worrisome crime and homelessness problems which have impaired the company’s operations.
Former Starbucks CEO Howard Schultz asserted during a Senate hearing Wednesday that American cities have worrisome crime and homelessness problems which have impaired the company’s operations.
 
The 17 former branches of SVB opened Monday morning as branches of First Citizens.
The 17 former branches of SVB opened Monday morning as branches of First Citizens.
 
Swiss investment bank Credit Suisse has helped American families hide at least $700 million from tax authorities over the past nine years in violation of a plea agreement with regulators, Senate investigators said Wednesday.
Swiss investment bank Credit Suisse has helped American families hide at least $700 million from tax authorities over the past nine years in violation of a plea agreement with regulators, Senate investigators said Wednesday.
 
JPMorgan Chase CEO Jamie Dimon will be interviewed under oath about his company’s ties with deceased child sex predator and financier Jeffrey Epstein.
JPMorgan Chase CEO Jamie Dimon will be interviewed under oath about his company’s ties with deceased child sex predator and financier Jeffrey Epstein.
 
The monthly local jobs report reveals unemployment rates and related economic indicators at the county level.
 
Federal Deposit Insurance Corporation Chairman Martin Gruenberg revealed on Monday that the firm guaranteed as much as $13.3 billion in uninsured deposits for the 10 largest account holders at the defunct Silicon Valley Bank.
Federal Deposit Insurance Corporation Chairman Martin Gruenberg revealed on Monday that the firm guaranteed as much as $13.3 billion in uninsured deposits for the 10 largest account holders at the defunct Silicon Valley Bank.
 
As multiple banks implode, insurance deposit limit receives renewed scrutiny
As multiple banks implode, insurance deposit limit receives renewed scrutiny
 
Higher spending and lower revenue intake produced a $1.1 trillion budget deficit in the first six months of fiscal year 2023, according to a report released Monday by the Congressional Budget Office.
Higher spending and lower revenue intake produced a $1.1 trillion budget deficit in the first six months of fiscal year 2023, according to a report released Monday by the Congressional Budget Office.
 
One of Raleigh’s oldest banks is in the running to purchase the failed Silicon Valley Bank, also known as SVB.
One of Raleigh’s oldest banks is in the running to purchase the failed Silicon Valley Bank, also known as SVB.
 
Republican lawmakers at the state and federal levels have introduced multiple bills this week meant to prohibit or discourage the Federal Reserve from creating a central bank digital currency, also known as a CBDC.
Republican lawmakers at the state and federal levels have introduced multiple bills this week meant to prohibit or discourage the Federal Reserve from creating a central bank digital currency, also known as a CBDC.
 
Members of the House failed Thursday to override the veto issued by President Joe Biden which overturned their resolution to nix a Labor Department rule supportive of the environmental, social, and corporate governance movement, also known as ESG.
Members of the House failed Thursday to override the veto issued by President Joe Biden which overturned their resolution to nix a Labor Department rule supportive of the environmental, social, and corporate governance movement, also known as ESG.
 
North Carolina’s state pension system was among the victims of the recent collapse of two large Silicon Valley, California banks, with the loss of millions in stock at both banks.
North Carolina’s state pension system was among the victims of the recent collapse of two large Silicon Valley, California banks, with the loss of millions in stock at both banks.
 
A top TikTok executive attacked the House Energy and Commerce committee hearing on TikTok, accusing members of “xenophobia.”
A top TikTok executive attacked the House Energy and Commerce committee hearing on TikTok, accusing members of “xenophobia.”
 
My latest piece at the American Institute for Economic Research discusses the particularly harmful impact progressive income taxes have on productivity and the poor.
My latest piece at the American Institute for Economic Research discusses the particularly harmful impact progressive income taxes have on productivity and the poor.
 
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