President Donald Trump directed the Treasury Department to cease minting pennies. The penny has been circulating for 233 years, first established in 1792. Trump has been against the creation of a CBDC, but this move is clearly one massive step illustrating the long-term trend of inflation. More than that, the penny was the descendant of […]
Federal Reserve Chairman Jerome Powell and Donald Trump face off once again. The two have notoriously butted heads over interest rates, as Trump has accused the Fed of stifling economic growth by raising the cost of borrowing. Speaking at Davos, the president said he would “demand that interest rates drop immediately.” We all know the […]
The population of the United States grew by 1% to 340.1 million in 2024, according to the US Census Bureau, marking the largest population increase since 2000. The nation has added nearly 58 million over that 24-year period, but there certainly has not been a baby boom. The birthrate in America has been declining for […]
Credit card defaults in the US skyrocketed by 50% in the past year. Credit card defaults reached $46 billion in the first nine months of 2024, a level not seen since 2010. The cost of living has simply surpassed manageable levels for the majority of households. Americans are feeling the impact of inflation and compounding […]
Over 6,481 retailers have closed their doors since the beginning of the new year, according to data from Coresight Research in November, but that figure is expected to reach 7,327, marking a 57.8% increase in closures since 2023. During the pandemic, closures exceeded openings by 180 stores in 2020, with the gap widening in 2021 […]
According to data provided by the Commerce Department, the US economy grew 2.8% during Q3, beneath expectations of a 3.1% increase. GDP has slowed from the 3% posting during Q2. Personal consumption expenditures (PCE) rose 3.7% last quarter, marking the strongest performance since Q1 of 2023. The US federal government’s spending is factored into […]
The Internal Revenue Service (IRS) released new tax bracket information for 2025. Most tax thresholds increased by 2.8% compared to 2024. The report, released ahead of the election, claims these changes will prevent “bracket creep” where inflation propels taxpayers into higher brackets. However, the tax breaks imposed under former President Donald Trump come to an […]
The Department of Homeland Security released a report to gauge the number of asylum seekers who entered the US in 2023. On the low side, the department believes 945,370 people from throughout the world managed to infiltrate America in a one-year period, breaking past all previous records. “Affirmative asylum case filings with USCIS nearly doubled […]
The Department of Housing and Urban Development is toying with the idea of providing American renters cash aid instead of vouchers. Current vouchers only demand that tenants pay 30% of their income on rent, while the US taxpayers foot the rest of the bill. The department says it is still too difficult for would-be tenants […]
https://www.armstrongeconomics.com/wp-content/uploads/2024/08/Kamala.WordSalad.mp4 The Democratic National Convention occurring in Chicago is touting the importance of defeating Trump, climate change, gun control, and abortion. These are the ONLY talking points that the Democrats harp on while ignoring the REAL issues plaguing the nation. It was revealed earlier this week that the Biden-Harris Administration completely failed to create new […]
