USA Today reports, Oil giants reap record profits as war rages in Ukraine, energy prices soar: Here’s how much they made: As households around the globe struggle with rising energy bills, some of the world’s leading oil giants reported record profits for the first three months of this year. Profits for Exxon Mobil, Shell and … Read more
The April jobs number came out last week and showed continued strong job growth. The New York Times reported, Job Growth Shows Continuing Vigor of U.S. Economy: The U.S. economic rebound from the pandemic’s devastation held strong in April with another month of solid job growth. Employers added 428,000 jobs, matching the previous month, the Labor … Read more
The inflation report for March came out Tuesday, and the media continued its reckless and irresponsible inflation psychology reporting (Inflationary psychology can become a self-fulfilling prophecy, because as consumers spend more and save less, the velocity of money increases, further boosting inflation and contributing to inflationary psychology.) Is inflation outpacing recent years right now? Yes. … Read more
Update to Senate To Call ‘Big Oil’s Slippery Six’ Back To Testify About Their Price Gouging On Gas Prices. The Washington Post reports, House panel grills oil company executives on high gasoline prices: The top executives of “the slippery six” of the nation’s largest oil and gas companies testified before Congress on Wednesday, at a time … Read more
New Russian sanctions announced today by the Treasury Department reveal a direct line between Trump’s 2016 campaign chief Paul Manafort and Russian intelligence agencies. This intelligence was always in the possession of the Trump administration, but appears to have been withheld from Special Counsel Robert Mueller’s investigation. New scandal: was it withheld? Today’s Russian sanctions … Read more