Category Archives: Business & Economy
Texans Face Delays To Their Unemployment Relief Because of Busy Phone Lines and Website Outages
As tens of thousands of Texans try to file unemployment insurance claims, they’re finding the Texas Workforce Commission’s phone lines jammed and website servers overloaded as the agency is swamped by the crush of sudden need.
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For The First Time Since The 1970s, Texas Is Considering Curtailing Oil Production
Texas regulators are considering curtailing oil production in America’s largest oil-producing state,
Read moreGov. Abbott Authorizes Restaurants to Deliver Alcohol With Food Purchase
Governor Greg Abbott issued a waiver that will allow restaurants to deliver alcoholic beverages with food purchases to patrons, including beer, wine, and mixed drinks.
Read moreSenate Passes First Coronavirus Economic Relief Package
The Republican-controlled Senate has reportedly mustered enough votes to pass the administration’s first fiscal stimulus package to help workers and small business owners.
Read moreHow Government Spending Destroys Wealth
A government is not a wealth generating entity—the more it spends, the more resources it has to take from wealth generators. This undermines the wealth generating process of the economy.
Read moreBipartisan Bill Drops on 100th anniversary of Mineral Leasing Act That Would Increase Oil and Gas Royalty Rates
U.S. Sens. Tom Udall, D-N.M., and Chuck Grassley, R-Iowa, on Tuesday introduced legislation to raise the royalty rates for oil and gas development on federal lands, on the 100th anniversary that the Mineral Leasing Act was passed.
Read moreWho Bought The $1.3 Trillion In Debt The US Government Added In 2019?
The US Gross National Debt spiked by $1.3 trillion over the past 12 months, to $23.3 trillion. These days, trillions fly by so fast it’s hard to see them. This debt exists in the form of Treasury securities, and each of these securities was bought by some entity in the US or in some other country. So, who owns all this debt? Let’s see…
Read moreDallas, Houston Projected to See Continued Economic Growth
As much of the world’s economic growth is expected to slow in the near future, two cities in Texas look to be turning that projection on its head.
Read moreHow the Fed Rules and Inflates
Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
Read moreFICO Changes To Dramatically Affect Credit Scores In Effort To Reduce Defaults
Fair Isaac, the company behind FICO credit scores, announced the rollout of a new scoring method that will dramatically shift credit scores for millions of Americans in either direction. The changes come as consumers are accumulating record levels of debt that has worried some economists but has shown no sign of slowing amid a strong economy.
Read moreFed Nominee Judy Shelton Wants Sound Money—and Lots of It
There is good news and bad news regarding President Trump’s nomination of Judy Shelton for one of the two vacant positions on the Federal Reserve Board of Governors.
Read moreWhy Bad GDP Metrics Lead to Bad Policy
The laser-like focus on consumer spending as the driver of economic health is largely the result of the government’s premiere measure of the economy: the Gross Domestic Product (GDP). Significant flaws in how GDP is measured, however, not only make it a misleading indicator, but have led to erroneous conclusions about what makes the economy tick. Such errors lead to extremely costly and damaging public policies.
Read moreTexas Instruments To Close Two Dallas-Area Chip Factories Amid Slowdown
Texas Instruments announced Wednesday that it would close two chip plants in North Texas over the next three to five years, reported Dallas News.
Read moreBorden Dairy Company Files for Chapter 11 Bankruptcy
Borden Dairy Company filed for Chapter 11 bankruptcy on Monday amid rising milk prices and what court filings described as an “unsustainable” debt pile, reported Bloomberg.
Read moreAverage US Family Can’t Afford A Home In 71% Of The Country
More Americans are getting priced out of purchasing homes than ever, as soaring prices continue to outpace wages, according to a new report.
Read moreMajor Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On Highways
Celadon, the largest U.S. truckload carrier, filed for bankruptcy Monday morning, leaving 3,000 truck drivers and 500 administrative positions without a job two weeks before Christmas.
Read more63% Of All U.S. Jobs Created Since 1990 Have Been Low-Wage Jobs
Since 1990, the U.S. economy has produced millions of jobs, but nearly two-thirds of them have been low wage jobs. Of course this is one of the biggest factors causing the systematic erosion of the American middle class. Today, half of all U.S. workers make less than $33,000 a year, but meanwhile the cost of living has been steadily increasing.
Read moreThe Cost of Government Is Rising Much Faster than Housing and Healthcare
This year, as it has for several consecutive years now, the Tax Foundation reported that “Americans will collectively spend more on taxes in 2019 than they will on food, clothing, and housing combined.”
Read moreNearly Half Of US Consumers Report Their Incomes Don’t Cover Their Expenses
Low-income consumers are struggling to make ends meet and if a recession strikes or the employment cycle continues to decelerate — this could mean the average American with insurmountable debts will likely fall behind on their debt servicing payments. A recent report that showed that 44% of consumers don’t make enough money to cover their expenses.
Read moreHere Is The Secret Cost Behind All Those “Free” Credit Card Perks
Despite the fact that the Fed insists on keeping interest rates low, many credit cards are actually raising rates for consumers, according to the Wall Street Journal. The increase is to make up for the generous rewards – perks like cash back and travel – that credit cards are offering to lure in customers.
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