With persistent inflation at its highest level in 40 years and warnings of an economic slowdown, experts are sounding the alarm over an economic calamity. We’re not talking about recession but rather stagflation — a phenomenon that concerns economists and central banks alike. Definition Stagflation is an economic event where rising prices meet a slowing…

Americans have been bearing the brunt of record inflation for months, shelling out more cash for everyday expenses like groceries and gas. The inflation blame game escalated over the weekend, pitting President Joe Biden against Amazon founder Jeff Bezos. You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.…

The decline of real GDP in the first quarter of 2022 set off yet another alarm in economic circles about the strength of the U.S. economy. Real GDP is a statistic used to measure the value of goods and services. A decline in that number indicates a decline in economic activity. As Straight Arrow News…

Leading financial experts are starting to say the “R” word more frequently, warning that the risk of a recession in the next two years is increasing. In an interview with CBS Face the Nation, Goldman Sachs Senior Chairman Lloyd Blankfein categorized the risk factor as “very, very high.” A recession occurs when the country sees…

Florida Sen. Rick Scott’s (R) 11-point tax plan has made him an easy target for a White House looking to turn the nation’s attention away from record-high inflation. Experts have said Scott’s proposal would raise taxes for the lowest-earning Americans, which led President Biden to call Scott’s idea “extreme.” Scott’s plan has also put him…

President Joe Biden told Americans during his March 2022 State of the Union address, “It’s time for Americans to get back to work to fill our great downtowns again with people.” Easy for him to say — he works from home. For the rest of Americans returning to office life, there’s a bit of sticker…

Bitcoin and other cryptocurrencies tumbled Thursday amid a massive sell-off in the space, triggered by a risk-off and collapse of stablecoins. Based on estimates from CoinMarketCap, about $200 billion in wealth was wiped from the cryptosphere in 24 hours. Bitcoin dipped below $26,000 Thursday morning before recovering some, down about 11% over the 24-hour period.…

The country is getting the first concrete sign that runaway inflation has peaked. The Labor Department announced Wednesday that consumer prices rose 8.3% in April from a year ago, which is still one of the highest readings in four decades but slightly below the March peak of 8.5%. Monthly growth dramatically cooled to 0.3% in…

Gas prices hit a new all-time high Tuesday just two months after the last national record was set. According to AAA, the national gas average for May 10 is $4.37 per gallon, the highest ever recorded. Drivers are now paying $1.40 more per gallon than one year ago. Drivers with diesel vehicles are feeling even…

For the first time since March 2021, the S&P 500 closed below 4,000 points. The index lost 132.1 points or 3.20% Monday, falling to 3,991.24. The Dow Jones Industrial Average fell 653.67 points, or 1.99%, to 32,245.7. And in the largest drop, the Nasdaq Composite dropped 521.41 points, or 4.29%, to 11,623.25. The energy sector…