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    Economy Tag

    Former Federal Reserve Chairwoman Janet Yellen is Joe Biden's pick to head the Treasury Department. During recent remarks, Yellen pledged to use the department to address many issues, including those of race, gender disparity,and the climate crisis. The Democratic party's approach to policy is now nearly indistinguishable from that of progressive activists on college campuses.

    As the post-2020 election dust begins settling, for the Democrats anyway, former Obama stooge Rahm Emmanuel digs up and mercilessly flings at those Americans left behind by regressive, globalist policies insulting, condescending leftist advice.  He tells unemployed, and soon-to-be-unemployed under the Harris-Biden administration, retail workers that they need to #LearnToCode.

    Saying the United States should transition away from fossil fuels is a popular idea on the left. It's not workable in real life, however. Millions of people depend on fossil fuels not only to heat and light their homes, but for their jobs. During the final debate last night, Joe Biden said the United States should transition away from the oil industry. This was red meat for his base and the Bernie Sanders wing of the party, but it won't play with millions of voters who live in the real world.

    The city of Minneapolis is requiring businesses destroyed by the recent riots to pre-pay their 2020 property taxes before they can even officially demolish and rebuild their businesses. The city allowed these businesses to be destroyed, and now wants a ransom from the very people they victimized. When do the business owners start rioting, or at the very least, packing up and leaving?

    European Union economies have taken a big hit in the wake of the Wuhan coronavirus pandemic, registering their biggest decline in recent history. The eurozone economies, comprising of 19 out of 27 EU member states, reported an annualized GPD decline of 40.3 percent, higher than the annualized drop of 32.9 percent registered in the United States. 

    About 1.434 million Americans filed unemployment claims last week as states issue another shutdown due to spikes in coronavirus cases. The GDP also crashed to a 32.9% annualized rate, which is the biggest drop on record. Overall, the GDP dropped 9.5% between the first and second quarters. But we have to remember the GDP report contains numbers between March and June. It doesn't tell us what is happening now or tomorrow.
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