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Category: U.S. Economy (Page 1 of 9)

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Fed Ex CEO Believes A World Wide Recession Is Looming.

The numbers don’t portend well’: FedEx CEO believes a ‘worldwide recession’ is looming after company reported a sharp drop-off in shipping volume, sending its shares down 23%

  • FedEx CEO Raj Subramaniam made the remarks in an interview on Thursday
  • Company reported a sharp drop in global delivery business in recent months
  • The shipper plans to slash costs by closing 90 locations and pausing hiring 
  • FedEx shares dropped sharply, opening down more than 23% on Friday 
  • World Bank also said the global economy might be inching toward a recession 

By KEITH GRIFFITH FOR DAILYMAIL.COM

PUBLISHED: 11:17 EDT, 16 September 2022 | UPDATED: 12:25 EDT, 16 September 2022

The CEO of FedEx has issued a grim warning, saying that he believes a worldwide recession is looming after the company saw a sharp decline in shipping volume in recent months.

In an interview with CNBC on Thursday, FedEx CEO Raj Subramaniam said ‘I think so’ when asked whether the economy is ‘going into a worldwide recession.’

‘But you know, these numbers, they don’t portend very well,’ added Subramaniam, who blamed the company’s dismal new profit projections on a broader decline in economic conditions. 

Shares of FedEx plunged 23 percent at the opening bell on Friday, after the company said demand for shipping dropped sharply at the end of August and predicted that the slowdown would worsen in the current quarter. 

In an interview with CNBC on Thursday, CEO Raj Subramaniam said ‘I think so’ when asked whether the economy is ‘going into a worldwide recession’Shares of FedEx plunged at the opening bell on Friday, after the company said a global demand slowdown accelerated at the end of August+4View gallery

Shares of FedEx plunged at the opening bell on Friday, after the company said a global demand slowdown accelerated at the end of August

FedEx shocked Wall Street on Thursday by scrapping its earnings forecast for its current fiscal year, which it had issued less than three months ago. 

In response to a sharp decline in business, the company said it will cut costs by closing over 90 FedEx Office locations and five corporate offices, pausing new hiring and operating fewer flights. 

FedEx, based in Memphis, Tennessee, warned it will likely miss Wall Street’s profit target for its fiscal first quarter that ended August 31, and warned that business would likely weaken further in the current quarter. 

‘Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the US,’ Subramaniam said in a statement. 

‘We are swiftly addressing these headwinds, but given the speed at which conditions shifted, first-quarter results are below our expectations,’ he added. 

The warning from FedEx, considered a global economic bellwether, sent Wall Street’s main stock indexes lower on Friday. 

FedEx shocked Wall Street on Thursday by scrapping its earnings forecast for its current fiscal year, which it had issued less than three months ago (file photo)

Adding to the somber mood, the World Bank said the global economy might be inching toward a recession, while the International Monetary Fund said it expected a slowdown in the third quarter. 

World Bank Chief Economist Indermit Gill told reporters on Thursday he was concerned about ‘generalized stagflation,’ a period of low growth and high inflation, in the global economy. 

Wall Street’s main indexes were trading at two-month lows on Friday, with the S&P 500 down 0.52 percent, at 3,880.95 — breaching the 3,900 level that traders considered a key support. 

The benchmark index is now just 5.8 percent above its mid-June closing low, as a summer rally in Wall Street continues to unravel amid fears of steep increases in US interest rates and deterioration in earnings growth. 

The US Federal Reserve is widely expected to deliver the third straight 75-basis-point rate hike at its policy meeting next week after recent data showed that inflation remains stubbornly high.

Overall annual inflation dipped to 8.3 percent on the year in August, down from its June highs, but so-called core inflation rose on the month, signaling that rising prices are spreading broadly through the economy and becoming more sticky. 

Meanwhile the job market seems to remain surprisingly robust, clearing the way for further Fed rate hikes. 

There were 11.2 million job openings at the end of July, with two jobs for every person seeking work. 

A report from the Labor Department on Thursday showed initial claims for state unemployment benefits fell 5,000 last week, to a seasonally adjusted 213,000, in the fifth straight week of declining claims.

Despite the hand wringing about a possible recession next year due to higher borrowing costs, there has not been a surge in layoffs. 

Economists say companies are hoarding workers after experiencing difficulties hiring in the past year, as people left the workforce in droves during the COVID-19 pandemic.

Former Mayor And Now Secretary Of Transportation ‘Pete Buttigieg’ Appears To Be Completely Out Of His Depth As Airline Crisis Spirals Completely Out Of Control.

Top Democrats slam Pete Buttigieg for failing to stop ‘airmageddon’ and demand he imposes fines of $55,000 for EACH passenger on cancelled flights as 312 more are axed and 4,378 are delayed

  • Sen. Bernie Sanders and Rep. Ro Khanna of California both called for Transportation Secretary Pete Buttigieg to take action ahead of the holiday 
  • By Sunday evening, 312 flights had been canceled and 4,366 were delayed by Sunday evening during the busiest holiday weekend since the pandemic began
  • Sanders urged Buttigieg to require airlines to refund passengers for flights delayed more than an hour, impose fines of a rate of $55,000 per passenger
  • United Airlines canceled 55 flights and delayed 314 by Sunday night 
  • Delta canceled  53 flights and delayed 433, American Airlines canceled 29 and delayed 533
  • Transportation Secretary Pete Buttigieg told Americans to seek compensation for their canceled flights like he did rather than discuss ways to fix the chaos 

Transportation Secretary Pete Buttigieg is under fire from leading figures in his own party for failing to stop ‘airmageddon’ flight hell as travel chaos continued through the Fourth of July weekend.

More than 312 flights were canceled and 4,378 were delayed by Sunday evening during the busiest holiday weekend since the pandemic began.

Another 88 have so-far been canceled for Monday – although that number will likely rise exponentially as July 4 travel commences, affecting thousands of Americans returning from a long weekend away. 

Sen. Bernie Sanders and Rep. Ro Khanna of California both called for Buttigieg to take action well ahead of the holiday weekend, according to letters they sent out last week. 

Sanders urged Buttigieg to require airlines to refund passengers for flights delayed more than an hour, impose fines of a rate of $55,000 per passenger for flights delayed for more than two hours, and fines for airlines that cannot ‘properly staff’ scheduled flights.

As travel chaos escalated over the weekend as feared, Sanders took to Twitter to once again called out Buttigieg to set a plan in motion. 

Sen. Bernie Sanders demanded Washington fine airlines $55,000 per passenger for every flight cancelation they know can’t be fully staffed
Transportation Secretary Pete Buttigieg said earlier this month that airlines had until July 4 to figure out the issues and work out the kinks so travelers can have a smooth summer holiday

Sen. Bernie Sanders (left) demanded Washington fine airlines $55,000 per passenger for every flight cancelation they know can’t be fully staffed and slammed Transportation Secretary Pete Buttigieg (right) for failing to fix the travel chaos 

More than 312 flights were canceled and 4,378 were delayed by Sunday evening during the busiest holiday weekend since the pandemic began

More than 312 flights were canceled and 4,378 were delayed by Sunday evening during the busiest holiday weekend since the pandemic began

A graph shows how the numbers of delays have changed since last week
A graph shows how the numbers of delays have changed since last week 

Travelers arrive an air train at Newark Liberty Airport on Sunday. Another 88 have so-far been canceled for Monday - although that number will likely rise exponentially as July 4 travel commences, affecting thousands of Americans returning from a long weekend away

Travelers arrive an air train at Newark Liberty Airport on Sunday. Another 88 have so-far been canceled for Monday – although that number will likely rise exponentially as July 4 travel commences, affecting thousands of Americans returning from a long weekend away
Long Lines At San Francisco Airport Due To Summer Travel Surges

‘The Department’s incremental response so far has been lacking the urgency, imagination, and boldness to meet the moment and needs of the American people,’ he wrote.

Khanna told The American Prospect: ‘Buttigieg needs to make clear that he has the authority to go after the airlines for unfair and deceptive practices. He needs to lay out a framework for what the consequences will be for canceled flights, understaffing, and misrepresentations to passengers.’ 

Buttigieg, who previously called on airlines to get in shape before the weekend, appeared to give up on getting things under control yesterday as he told Americans to follow his lead and claim compensation over the canceled flights. 

‘Airlines offer miles as compensation for some travel issues, and you can often negotiate on this,’ tweeted Buttigieg, who said he got back $112.07 over his canceled flight on Friday after he was initially offered about $30 back. 

‘Sometimes an airline will offer you points or miles as compensation, but you are entitled to a cash refund when your flight is canceled.’

Delta has taken to drastic measures to quell customer dissatisfaction, with passengers from one overbooked Delta flight reporting that the airline offered eight passengers $10,000 each to forfeit their seats last week. 

Around 48 million people are expected to travel this weekend with AAA estimating 3.5million would take to the air. But the actual number of passengers flying may be dramatically higher as, the Transportation Security Administration screened more than 2.1 million travelers at airports on Saturday alone.

Leading major U.S. airlines in cancellations on yesterday was American Airlines, which canceled 102 flights and delayed 889 flights. Delta followed behind, canceling 82 flights and delaying 535.

United Airlines canceled 43 flights and delayed 492, and Southwest has called off 25 flights and delayed 1,048 flights. 

Since the hectic Juneteenth travel weekend, the U.S. has seen more than 12,000 flights cancelled, according to FlightAware. 

In addition to airport chaos and heavy traffic, holiday travelers will have to contend with higher prices. Average gas prices have soared 56 percent from a year ago, mid-range hotel prices have increased 23 percent, and average lowest airfares are up 14 percent. 

In total, AAA projects that 47.9 million Americans will travel for the Fourth this year, up 3.7 percent from last year and close to the historic peak reached in 2019, before the pandemic struck.At least 312 flights were canceled by 11 p.m. Sunday night and a staggering 4,244 delayed, according to FlightAware , which reported that by the end of Saturday, 654 US flights were called off and 5,860 were delayed

At least 312 flights were canceled by 11 p.m. Sunday night and a staggering 4,244 delayed, according to FlightAware , which reported that by the end of Saturday, 654 US flights were called off and 5,860 were delayed Travelers checking departure boards at Newark Liberty International Airport, as hundreds of flights are delayed and cancelled

Travelers checking departure boards at Newark Liberty International Airport, as hundreds of flights are delayed and cancelledChaos continues to swamp U.S. airports amid the busiest travel weekend since the pandemic with more than 600 flights canceled and nearly 2,900 delayed as of Saturday morning. Pictured: Travelers waiting at check-in at Miami airport Saturday

Chaos continues to swamp U.S. airports amid the busiest travel weekend since the pandemic with more than 600 flights canceled and nearly 2,900 delayed as of Saturday morning. Pictured: Travelers waiting at check-in at Miami airport Saturday

Fourth Of July travel by the numbers 

Here’s how the travel projections for this holiday weekend stack up against last year, according to AAA: 

 2021 (actual)

  • Average gas price: $3.12
  • Drivers on the road: 41.8M
  • Air travelers: 3.5M
  • Others taking trips (bus, train): 900K
  • Total travelers: 46.2M
  • Average airfare: $176
  • Average hotel cost: $198
  • Average car rental cost: $166

 2022 (forecast)

  • Average gas price: $4.86
  • Drivers on the road: 42M
  • Air travelers: 3.55M
  • Others taking trips (bus, train): 2.42M
  • Total travelers: 47.9M
  • Average airfare: $201
  • Average hotel cost: $244
  • Average car rental cost: $110

In addition, the Biden administration is blaming the airlines, saying it received billions in stimulus money to keep afloat during the pandemic and should stick to the schedule it publishes. 

Buttigieg said earlier this month that airlines had until July 4 to figure out the issues and work out the kinks so travelers can have a smooth summer holiday.   

Buttigieg pushed back earlier this week when the head of the trade group Airlines for America blamed the FAA for delays.

‘The majority of cancellations and the majority of delays have nothing to do with air traffic control staffing,’ Buttigieg told NBC Nightly News.

Amid the Fourth of July travel chaos, many are calling on Buttigieg to act rather than give out advice on how to get compensation like he did. 

One Twitter user with the handle, The Dude, wrote: ‘Hey Pete … maybe, as Secretary of Transportation, you should be meeting with FAA, major airlines and other key folk involved – slamming your fist on the table and demanding they work out these issues and a plan to address the problems … not update us on frequent flyer miles. 

Another Twitter user with the handle, Limstone Caulk, added: ‘How about, people just want to go somewhere when they actually paid to go?’ 

Brian Jackson, another Twitter user, said he, too, wanted Buttigieg to be proactive in the situation.

‘You know [as] the Secretary of Transportation you could maybe I don’t know fix the root cause of the delays so no one would need a refund and would actually get to their destination?’ 

Another Twitter user with the handle Pantazopopulos wrote:  ‘How bout you actually find out the reasons the airlines are having issues and see if there is a way to help, I mean, if you’re not busy, since you are Transportation Secretary.’ 

The long wait times and delays are taking a toll on passengers. Pictured, a woman sleeping in a makeshift bed at the Miami International airport on Saturday morning
The long wait times and delays are taking a toll on passengers. Pictured, a woman sleeping in a makeshift bed at the Miami International airport on Saturday morning 
Many on Twitter demanded action from Buttigieg to curb the cancellations and delays at airports

Now 85% Of American Adults Think The Country Is On The Wrong Track Under Joe Biden And 79% Say The Economy Is Poor In Yet Another Dire Poll.

  • The AP found that a majority of Americans are unhappy with the economy
  • It comes after inflation saw another four-decade high of 8.6 percent last month
  • Eight in 10 of Democrats said the country is going in the wrong direction 
  • ‘If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher?’ Biden told the Associated Press this month

By ASSOCIATED PRESS

PUBLISHED: 13:03 EDT, 29 June 2022 | UPDATED: 17:28 EDT, 29 June 2022

An overwhelming and growing majority of Americans say the U.S. is heading in the wrong direction, including nearly 8 in 10 Democrats, according to yet another dire new poll for President Joe Biden.

Despite grappling with low favorability ratings for much of his first term already, Biden’s popularity experienced a deep downturn in recent months amid growing pessimism over the economy. 

Eighty-five percent of U.S. adults say the country is on the wrong track, and 79 percent describe the economy as poor, according to a new survey from The Associated Press-NORC Center for Public Affairs Research.

The findings suggest Biden faces fundamental challenges as he tries to motivate voters to cast ballots for Democrats in November’s midterm elections.

Inflation has consistently eclipsed the healthy 3.6 percent unemployment rate as a focal point for Americans, who are dealing with particularly sharp spikes in gasoline and food prices. 

The average cost of consumer goods rose 8.6 percent in May, according to the most recently available data, the highest increase since 1981.

Driving the record surge was a 48.7 percent increase in gas prices and nearly 40 percent increase in airfare, as millions across the country are feeling pain at the pump over the steep months-long rise.

Even among Democrats, 67 percent call economic conditions poor.

‘He’s doing the best he can – I can’t say he’s doing a good job,’ said Chuck McClain, 74. ‘But his opposition is so bad. I just don’t feel the Democratic Congress is doing enough.A majority of people still don't approve of President Joe Biden's work in office despite easing from a record high in May

A majority of people still don’t approve of President Joe Biden’s work in office despite easing from a record high in MayA staggering number of voters also believe the country is off on the wrong track amid multiple supply shortages, a possible looming recession and record inflation

A staggering number of voters also believe the country is off on the wrong track amid multiple supply shortages, a possible looming recession and record inflation

The Las Vegas resident is a loyal Democrat who said he doesn’t miss an election, but he said the price of gas and groceries, Russia’s war in Ukraine and the country’s deep political divides have led more Americans to feel as though Washington is unresponsive to their needs.

‘My wife and I are very frustrated with where the country is headed, and we don’t have a lot of hope for the political end of it to get any better,’ he said.

The poll shows only 39 percent of Americans approve of Biden’s leadership overall, while 60 percent disapprove. 

His approval rating fell to its lowest point of his presidency last month and remains at that level. 

The Democratic president gets hit even harder on the economy, with 69 percent saying they disapprove of him on the issue. Among Democrats, 43 percent disapprove of Biden’s handling of the economy.

Just 14 percent say things are going in the right direction, down slightly from 21 percent in May and 29 percent in April. Through the first half of 2021, about half of Americans said the country was headed in the right direction, a number that has steadily eroded in the past year.

Dorothy Vaudo, 66, said she voted for Biden in 2020 but plans to switch allegiance this year. ‘I’m a Democrat so I had to vote Democrat, but that’s going to change,’ said the Martin County, North Carolina resident. People's pessimism is primarily with the economy, which almost eight in 10 Americans surveyed said was in poor condition

People’s pessimism is primarily with the economy, which almost eight in 10 Americans surveyed said was in poor condition

But despite signs of a possible economic recession, consumer spending has largely kept pace and hiring remains brisk in a sign that families and businesses have been able to withstand some of the economic pain.

In an interview this month with the AP, Biden traced the decline in his popularity to increases in gas prices that began a year ago. 

He said that prices shot up further with Russia’s invasion of Ukraine in February. But he rejected claims by Republican lawmakers and some major economists that his $1.9 trillion coronavirus relief package from last year contributed to inflation, noting that price increases were a global phenomenon.

‘We’re in a stronger position than any nation in the world to overcome this inflation,’ Biden said. ‘If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher?’

But it seems like Americans have been disenchanted with Biden for months.

The president’s average approval rating dipped below 50 percent in mid-August, according to poll aggregator FiveThirtyEight. 'If it's my fault, why is it the case in every other major industrial country in the world that inflation is higher?' Biden said of inflation to AP

‘If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher?’ Biden said of inflation to AP

His disapproval rating exceeded that threshold in late October. 

Douglass Gavilan, a 26-year-old in Miami, told Associated Press that he is concerned about the ‘skyrocketing’ prices and rent that he sees in his community. 

Shelter costs are roughly a third of the U.S. consumer price index, so the run-up in rents and home values has started to strain the budgets even of many people living where there are strong job opportunities.

‘I don’t even know if I’m going to be able to live here in a few years,’ Gavilan said. ‘I definitely don’t feel confident in the economy.’

Though he doesn’t identify with a political party, Gavilan voted for Biden in 2020. He doesn’t think Biden has proposed anything to make a meaningful difference in his life, but he does think the president’s in a tough spot.

‘There’s very little he can do without everyone blaming him for everything,’ Gavilan said.

Many interviews taken for the AP’s poll were conducted after the Supreme Court struck down Roe v. Wade on Friday and allowed states to ban abortion – a decision opposed by a majority of the American people in earlier polls, which could also have contributed to the continued slump in the national mood.

The national dissatisfaction is bipartisan, the poll shows. Ninety-two percent of Republicans and 78 percent of Democrats say the country is headed in the wrong direction. Since last month, the percentage of Democrats saying the country is headed in the wrong direction rose from 66 percent.

n a CBS News poll released two days after the Supreme Court overturned Roe, 52 percent of respondents said the move was ‘a step backwards’ for the country while just 31 percent said the opposite.Biden: SCOTUS not broken but ‘has made some terrible decisions’

More than eight in 10 people said things in America today are going badly in that survey, taken June 24 and 25. 

Biden’s handling of the coronavirus pandemic remains a relative bright spot, with 53 percent of Americans saying they approve of his handling of that issue. On the other hand, only 36 percent say they approve of Biden’s handling of gun policy; 62 percent disapprove.

But the economy is what weighs on many Americans as their top priority.

Curtis Musser, 57, a chemistry teacher from Clermont, Florida, said he expects a recession is coming, though he believes it will be mild.

Musser said many Americans simply feel as though they’re at the mercy of events beyond their control, whether that’s the pandemic, rate hikes by the Federal Reserve, war in Europe or political hostilities within the U.S.

‘I feel as an individual somewhat helpless,’ he said. ‘I don’t have control of the markets, and you can’t really guess what markets are going do because you don’t know what the Fed is going to do. You don’t know what Congress is going to do. You don’t know what Vladimir Putin is going to do.’

The poll of 1,053 adults was conducted June 23-27 using a sample drawn from NORC´s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for all respondents is plus or minus 4 percentage points.

The Graph That Disproves Bidens Claim That Inflation Is ‘Higher’ Than ‘Every Other Major Industrial Country In The World.

The graph that disproves Biden’s claim inflation is ‘higher’ than ‘every other major industrial country in the world’: Stats show 41-year high price rises in the US have been growing ahead of G7 nations and China

  • President Joe Biden has been under fire for inflation that has reached its highest point in 41 years and has squeezed the finances of millions of Americans 
  • He has blamed Vladimir Putin’s invasion of Ukraine and the COVID pandemic for the surge in prices – and now has pointed to inflation being a global issue 
  • While prices having been rising across the globe, the inflation in the U.S. has been higher than the G7 nations and China for most of the year 
  • Data from the Organisation for Economic Co-operation and Development from April 2021 until April 2022 shows U.S. inflation has been rising steadily above all other nations 

By NIKKI SCHWAB, SENIOR U.S. POLITICAL REPORTER FOR DAILYMAIL  and ASSOCIATED PRESS

PUBLISHED: 17:15 EDT, 17 June 2022 | UPDATED: 17:22 EDT, 17 June 2022

President Joe Biden has been under fire for inflation that has reached its highest point in 41 years and has squeezed the finances of millions of Americans.

He has blamed Vladimir Putin‘s invasion of Ukraine and the COVID pandemic for the surge in prices – and now has pointed to inflation being a global issue.

In an interview with the Associated Press that was conducted Thursday, he slapped back suggestions he is to blame.

‘Isn’t it kind of interesting? If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher? You ask yourself that? I’m not trying to be a wise guy,’ he told AP reporter Josh Boak in the Oval Office.

While prices having been rising across the globe, the inflation in the U.S. has been higher than the G7 nations and China for most of the year.

The United Kingdom with a four-decade high of 8.6 percent has only just surpassed inflation in the United States.

But nations including Germany, France, Japan and Canada are all still behind the U.S. when it comes to prices.

Data from the Organisation for Economic Co-operation and Development from April 2021 until April 2022 shows U.S. inflation has been rising steadily above all other nations.

The data runs only until April as it is where the fullest data was available. Data from the Organisation for Economic Co-operation and Development from April 2021 until April 2022 shows U.S. inflation has been rising steadily above all other nations+6View gallery

President Joe Biden argued that he couldn't be responsible for inflation because it's higher 'in every other major industrial country in the world'
President Joe Biden argued that he couldn’t be responsible for inflation because it’s higher ‘in every other major industrial country in the world’

Talking to the AP,  Biden also pointed out that under his watch the deficit has been reduced and employment has gone up.

But the Democratic president acknowledged that Americans are paying vastly more to put food on their table and fuel in their cars and that it was putting a dent in his approval rating.

‘If you want a direct barometer of what people are going to talk about at the kitchen table and the dining room table and whether things are going well, it’s the cost of food and what´s the cost of gasoline at the pump,’ he admitted.

He blamed high gas prices for the nation’s economic pessimism, saying before prices started rising, ‘Things were much more, they were much more optimistic.’ 

But while Biden said his message to oil companies was ‘Don’t just reward yourselves,’ he has few tools at his disposal to meaningfully bring down prices in the near term.  

After more than two years of the COVID-19 pandemic, Biden said the American people are ‘really, really down.’ 

He emphasized that the need for mental health in America ‘has skyrocketed because people have seen everything upset.’

Biden maintained that he’s optimistic about the country’s future, and that Americans should feel it too – even as the majority of voters say the country is on the wrong track.

‘Be confident, because I am confident we’re better positioned than any country in the world to own the second quarter of the 21st century,’ Biden said. ‘That´s not hyperbole, that’s a fact.’

Still, it wasn’t clear whether Biden’s rhetoric would have a tangible impact on the nation’s glum outlook. 

Biden also said he didn’t consider the domestic political impact from U.S. efforts to sanction Russia over its invasion of Ukraine, particularly how it would roil the economy.

Without such action, he said, ‘I fear what would happen next is you´d see chaos in Europe.’ He added: ‘It´s not about my political survival. It´s about what´s best for the country.’

Biden suggested that he’s willing to pay a political price as a result, saying his advice to young people interested in public service is, ‘Unless you know what´s worth losing over, don´t get engaged.’

On the domestic policy front, Biden suggested he still believed a slimmed-down version of the ‘Build Back Better’ bill could pass Congress before the November midterms.  

Democratic West Virginia Sen. Joe Manchin’s objections torpedoed the earlier efforts over inflation concerns. 

The high inflation rate has resulted in increased prices of food, gas and housing - areas that affect most Americans

The high inflation rate has resulted in increased prices of food, gas and housing – areas that affect most Americans

Biden needs all 50 Democrats to support a package in order to get around GOP opposition under the Senate’s budget rules.

‘There’s more than one way to bring down the cost for working folks,’ Biden said. ‘Gasoline may be up to $5 a gallon, but somebody who has a child with stage two diabetes is paying up to 1,000 bucks a month for their insulin. We can reduce it to 35 bucks a month and get it done.’

He added: ‘We have the votes to do it. We’re gonna get that done. I can’t get it all done.’

Biden also suggested there was consensus on providing tax credits for winterizing homes, which would help lower utility bills, and to boost domestic semiconductor manufacturing to address supply chain issues that have driven up prices.

Biden was optimistic about a bipartisan framework to address gun violence by tightening some background check requirements for young firearm purchasers and incentivizing states to establish ‘red flag’ laws to keep guns out of the hands of the mentally ill.

As lawmakers draft the legislative text, momentum appears to be building in the Senate after decades of inaction and mass tragedies. 

Biden acknowledged the progress, albeit limited.

‘We’re going to get gun safety,’ he said, adding, ‘We´re not going to get what I wanted.’

Despite years of political differences, Biden said he still views Senate Minority Leader Mitch McConnell as a Republican he can work with – something he said he considered an endangered species in today’s GOP.

The president said that when he took office, he knew that there ‘were probably, probably 15 sort of traditional, mainstream, conservative Republicans left. And I include in that – and I´m going to get myself in trouble, gonna get him in trouble, probably – the minority leader from Kentucky.’

Biden added of McConnell, ‘He´s a solid, mainstream guy.’

The president, who has taken to branding other Republicans as ‘ultra-MAGA,’ said examples included Wisconsin Sen. Ron Johnson and Florida Sen. Rick Scott.

Is America’s Out Of Control Inflation An Act Of God?

By Donald Bohanon published May 21, 2022.

I disagree with Tucker Carlson’s position that America’s out-of-control inflation is not an act of God. When God curses a nation because of its abominable sins his ability to do it on every level is not limited. God has authority over the whole Universe and that includes the weather, men and women, angels and demons, etc. Everything in existence is subject to God’s power and authority.

The Bible says God plants and plucks up governments and nations. If one government or nation displeases him he can and will pluck it up and replace it with another one to fulfill his purposes. Or to simply completely destroy it because of its unwillingness to submit to God’s good and righteous will- Jeremiah 31:28.

The worse mistake you can make is to assume that if you remove the present administration and replace it with a conservative administration it will automatically and permanently solve the problem of inflation and other problems without addressing the abominable sins that greatly anger God.

There are examples in the Bible where God has intentionally put governments in place comprised of evil men to punish nations because of their very offensive sins. It would be utterly foolish to allow sexual deviants and just biblically ignorant individuals in general, in your ears, espousing these ridiculous theories as a way to ensure their evil and perverse way of life is not disrupted. An evil way of life that is contributing, in a major way, to the present conditions.

Many of you appear to be on the right path but there is so much more to accomplish. We have to be vigilant, intentional, unwavering, and unrelenting, in our efforts to destroy the efforts of perverse groups and individuals as they seek to brainwash, indoctrinate, molest and pervert children, and in so doing ensure the fall and destruction of the nation. We must also unite, fight for, defend, and protect, those who are fighting for the same causes.

Don’t be naive in thinking that the practicing, support, and promotion of homosexuality and lesbianism, and homosexual and lesbian marriage is not the catalyst or creator of all other new, different, and confusing forms of sexual perversion. Homosexuality is merely the tree that has given birth to many other branches that extend outwardly.

Those branches being in the form of other forms of offensive confusing sexual perversion. In fact, all these other perversions are merely examples of how homosexuality, lesbianism, and bisexuality profoundly pervert, corrupt, and confuse.

Don’t be arrogant and cocky thinking you have all the answers and know more than God. And allow yourselves to be influenced by sexual deviants whose counsel if heeded will prove disastrous for you. God tells you who they really are and that they have no character, and can’t be trusted, because they are governed and consumed by their perverted lust Romans 1:26-32.

And that lust gives way to strong demonic influence resulting in a perverted corrupt mental and spiritual condition. Just look at what they are doing in terms of their debased sexual behavior and their confused state of mind evidenced by their confused perverted sexual behavior and sexual agenda. And how that is clearly giving birth to other new and confusing forms of sexual perversion.

Rational, sensible, thinking doesn’t govern their actions, and decisions but consuming perverted lust does. They are blinded, sickened, and rendered insane in many instances by it. Do you take their advice over God’s advice and instruction? That’s one of the main reasons you are cursed.

God says cursed is the man who puts his trust in men (over God’s instruction or over trust in God and what God says is what it means) Jeremiah 17:5. Magnify that a hundredfold when you put your trust in evil, perverted, ungodly, men and women. The Bible also says blessed is the man who walketh not in the counsel of the ungodly. In other words, he or she doesn’t follow or give an ear at all to what the ungodly instruct, say, or teach Psalm 1:1. Address the abominable sins and work to establish moral order. And your nation will heal and prosper.

If you follow the lead and recommendations of sexual deviants as they beg and plead with you to understand their position and work to influence you through deceptive, dishonest, clever arguments and support them, no matter what their financial status, prominence, or level of influence, you will be destroyed.

Your economic, weather, and health problems, etc, will continue and only get worse. God will never compromise with that abominable evil. They must repent just like everyone else is required to repent of their own individual sins. Whatever they may be. There are no exceptions, exemptions, or different sets of rules for them. And if not there will be consequences.

Being sympathetic to the plight of God-hating sexual deviants who don’t love or respect God evidenced by what they practice and promote and who clearly seek to rape and molest children legally and illegally will result in national collapse and calamity. Remember, this present government was put in place primarily because a pandemic undermined all the accomplishments of the previous administration. Don’t be so sure that it can’t happen again.

God is more than capable of doing it again. And of course, they will tell you that they are coming after women’s rights next, but it’s a lie. Women providing for themselves and earning a living is not offensive to God. But men inserting their penises in other men’s poop-filled anuses and other orifices and calling it good and acceptable in God’s eyes is. As well as mass murder in the urban neighborhoods and communities and in the form of abortion, and racism. and the promotion of black magic and sorcery, etc.

Don’t ever foolishly think that God can’t influence evil ignorant men to completely wreck an economy as a part of his will to punish you for your abominable sins. What you see happening now in terms of out-of-control inflation was most certainly predetermined by God because of those abominable sins.

No one is fit to lead in this present age who modifies/changes his or her righteous character, position, or actions, to fall in line with the views of evil, sexually perverse men, and women, simply to be liked, accepted, and praised. Or to appease those individuals. No one is fit to lead whose goal is to win a popularity contest. No one, man or woman, who adopts this way of thinking is fit to lead in these dangerous and uncertain times.

Where evil and confusion abound and are proliferating globally virtually ensuring the fall and destruction of nations if not quickly addressed and corrected. And where strong, righteous, unwavering leadership is needed that can’t be negatively influenced or misdirected by the evil agendas, financial bribes, and opinions of evil corrupt men and women. If you can’t perform the basic critical function of thinking for yourself in these wicked and deceptive times while using the honest truth based critical information you have acquired in that analysis you are simply pathetic, the problem, and a liability, in this present age.

The Shooter Killed Whites And Blacks But Spared What Appeared To Be A Homosexual Employee At The End Of The Video And Refused To Shoot Him? Was The Shooter A Homosexual Man? (WARNING!!! The Link Below Leads To Extremely Violent And Graphic Content!! View At Your Own Risk!!!)

Could This Be A Response To Chicago Mayor Lori Lightfoots Call For Violence?

Let me start out by saying I don’t support or condone any acts of violence against any individual or group. This is a very sad and tragic event and I pray for the victims and their families. There are so many unanswered questions regarding this shooting. And the fact that the shooter killed blacks and whites but apologized to what appeared to be a homosexual employee at the end of the video and refused to shoot him is very troubling. He even killed a white woman at the outset but refused to kill what appeared to be a gay man?

When you consider how God’s word outlines how sneaky, vindictive, diabolical, and evil, this community is it makes you wonder if all the posts and manifestos were intended to create a deceptive and a false narrative that he was racist but instead in reality a homosexual man angered by what he viewed as abuse from those who rightfully and justifiably disagreed with his lifestyle.

I would assume the church-going ladies were long-time customers of the store who probably regularly shopped there at specific times and on specific days. Did the employee who was spared by the gunman know the shooter? And could the employee maybe, possibly, have notified the shooter when the church-goers were in the store?

And maybe notified the shooter that others (both employees and customers) who rightfully and justifiably disagreed with the homosexual lifestyle were in the store as well? Certainly, the homosexual employee would have information about who were LGBTQ supporters and detractors as a result of his daily contact with employees and even customers?

And after all, him claiming to be a racist would take the focus off of the homosexual community if, in reality, he was an angry gay man who sought revenge against those who rightfully and justifiably disagreed with his lifestyle. This scenario is not far-fetched at all and would certainly be consistent with the kind of distorted, vindictive, and diabolical behavior many in the LGBTQ community display which is evident by numerous posts on this site of the numerous news headlines that confirm it.

In addition to how the Bible describes how purely evil anyone who is given over to this kind of sexual perversion is. Romans 1:18-32. The link below shows the shooting in full. Please be warned it is extremely graphic and violent and hard to watch!!! That’s why I refused to post it directly on my site. But I felt it necessary to post a link so visitors can see that the shooter intentionally killed both blacks and whites but refused to kill what appeared to be a gay employee at the end of the video.

And even apologized to him. Did they know each other and were they working together in some capacity? And was the shooter a gay man or gay supporter himself? I think all possibilities need to be thoroughly investigated. And let’s not forget lesbian mayor Lori Lightfoot did a call to arms( or a request for a violent pushback using firearms) to the gay community.

If she is bold enough to do a call for violence publicly she is certainly doing it and encouraging it privately. Regardless if she tries to walk it back publicly now. Out of the mouth the heart proceedeth. I’m not emphatically claiming this is the case it’s just something to think about. And to thoroughly look into.

https://theync.com/full-video-mass-shooting-at-a-buffalo-ny-supermarket.htm

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Inflation Rises To A 40 Year High.

The New Housing Bubble?: Is There A More Diabolical Motive Behind The Increased Buy Up Of Houses By Private Equity Giants, Hedge Funds, And Other Economic Royalists?

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