Big govt, Economy & Investments, Issues, Politics

‘Unprecedented Upheaval’: Half Of NYC Restaurants And Bars Could Close Permanently, State Audit Says

Up to half of bars and restaurants in New York City may be forced to close permanently within six months after having been devastated by the coronavirus lockdowns.

An audit released Thursday by state Comptroller Thomas DiNapoli revealed that a third to half of the establishments that comprise one of the city’s key industries could shutter and never return, costing the city more than 150,000 jobs, according to the New York Post.

“The industry is challenging under the best of circumstances, and many eateries operate on tight margins,” said DiNapoli. “Now they face an unprecedented upheaval that may cause many establishments to close forever.”

Even with the reopening of indoor dining Wednesday, capacity remains capped at 25% occupancy with other strict measures regarding social distancing and temperature taking.

New York City has been roiled with debates over indoor dining in recent months, with the onerous lockdown restrictions drawing condemnation even from some lawmakers who claimed they were being inconsistently applied. As The Daily Wire reported:

Democratic state Sen. Diane Savino told the New York Post [in August], “It’s a real problem when you represent a border community. People say to me: ‘I don’t understand why I can’t eat indoors in this restaurant. Read more…


Economy & Investments, News

Economy Booms as Unemployment Rate Drops to Single Digits; Dow Futures Soar

The U.S. economy is roaring back during the home stretch of the 2020 presidential campaign as nearly 1.4 million new jobs were added in August and the unemployment rate dropped to single digits.

“Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn,” CNBC reported. “The unemployment rate was by far the lowest since the coronavirus shutdown in March, according to Labor Department figures released Friday.”

Dow futures shot up by 200 points in response to the news, or .7%, while S&P 500 futures surged .3%.

“An alternative measure that includes discouraged workers and those holding part-time jobs for economic reasons also fell, down to 14.2% from 16.5% in July and 22.8% at the peak in April,” CNBC added. “Economists surveyed by Dow Jones had been expecting growth of 1.32 million and the jobless rate to decline to 9.8% from 10.2% in July.”

A Politico report from earlier this year outlined how Democrats are panicking over the prospect of the economy coming back before the election.

Harvard professor Jason Furman, a top economist in the Obama administration, warned Democrats in April about the economic turn around that was coming, saying, “We are about to see the best economic data we’ve seen in the history of this country.” Read more…


Big govt, Economy & Investments, Politics

Goodyear Stock Plunges After Company Bans Employees From Saying ‘Blue Lives Matter’

Goodyear Tire & Rubber Co.’s stock prices plummeted 6% after President Donald Trump called for a boycott of the company for banning “Make America Great Again” hats and “Blue Lives Matter” messages.

Trump on Wednesday wrote on Twitter, where he has 85 million followers, “Don’t buy GOODYEAR TIRES – They announced a BAN ON MAGA HATS. Get better tires for far less! (This is what the Radical Left Democrats do. Two can play the same game, and we have to start playing it now!).”

“One minute later, shares of Ohio-based Goodyear fell to an intraday low of $9.15, representing an intraday decline of 6%,” Business Insider reported.

Shares of Goodyear are down 40% year-to-date.

Trump’s tweet came after a report by WIBW-TV in Topeka, Kansas, that said some employees at a Goodyear plant there were told that that the company had “zero tolerance” for employees wearing clothing with “MAGA” on them, as well as phrases like “All Lives Matter” and “Blue Lives Matter.” Read more…


Economy & Investments, News

Trump Calls For Round 2 of Stimulus Checks

With states still lagging in their reopening efforts, many Americans have yet to return to work.

So, the president wants to provide more economic relief. This time, however, he wants to provide more money than the Democrats:

President Trump supports another round of economic impact payments to individuals, he told FOX Business on Wednesday…

“I support actually larger numbers than the Democrats, but it’s got to be done properly,” Trump said. “I want the money getting to people to be larger so they can spend it. I want the money to get there quickly and in a noncomplicated fashion.” Read more…


Big govt, Economy & Investments, Media

Trump Signs Recovery Executive Order to Boost U.S. Jobs

In an effort to jumpstart the economy after the pandemic, President Trump is signing an order to eliminate unnecessary regulations.

The order will direct government agencies to waive regulations to promote job growth. It will also task agencies with deciding which of 600 previously waived regulations should be permanently eliminated.

Senior Trump administration officials told the Daily Caller that the Regulatory Relief to Support Economic Recovery Executive Order “is the first time in living memory that a president has responded to a national crisis by deregulating instead of grabbing more power.” Read more…


Big govt, Economy & Investments, Politics

Trump Finds New Leverage Against China

President Trump is determined to hold China responsible for its role in the global pandemic. And he might have a new option.

China doesn’t seem all too eager to repay us for all that we’ve lost. It will take some serious negotiating to get China to admit their faults.

But it looks like Trump doesn’t have to go very far to find leverage. Because there’s a great big one right nearby. Read more…


Big govt, Economy & Investments, Politics

Pelosi and Schumer Plan FDR-Style Bailout

Democrats are rushing ahead with another “relief” package, without any input from Republicans.

The left blocked job-saving bills in the past to cram unrelated spending into the bills. Now, it appears they are going full-steam ahead on a major, big-government plan.

Pelosi even ordered her colleagues to form “wish lists” to shove into their massive, spending bill. And they’re rolling it out soon.

From Daily Wire:

Speaker of the House Nancy Pelosi (D-CA) and Senate minority leader Chuck Schumer (D-NY) spent their extended recess working on a “multi-trillion dollar” “Rooseveltian” fourth coronavirus relief package that they’re set to unveil as early as next week. Read more…


Courts, Economy & Investments, Politics

Supreme Court Says We Have to Pay For 12 Billion ObamaCare Bill

Obamacare was one of the biggest social programs in the history of the United States (next to Social Security).

Did you know the program took money from profitable insurance companies and gave it to ones that failed? Sounds a lot like “redistribution of wealth,” doesn’t it? There were lots of little gems like that in the program.

Some people tried to fight this piece of Obamacare, to prevent the government from shelling $12 billion in tax dollars to failed insurers. But, unfortunately, the Supreme Court said no. Read more…


Big govt, Economy & Investments, Politics

McConnell Says He Won’t Let Dems Take Funds to Fix Their Spending Deficits

Mitch McConnell has worked hard to help during the crisis. But he’s not about to let blue states drain the federal government dry.

Let’s be honest, many Democrats states have been spending into the red for years. And now it seems they are using this crisis to demand cash from the federal government. All to solve their debt problem.

Well, the Senate Majority leader is seeing right through their scheme. And he’s not having any of it. Read more…