Will It Be a Mercrkical on 34th Street or How Grinflation Stole Christmas?

The news that Merck has an effective treatment for the Covid-19 was greeted with cheers by investors.      October 01, 2021 advertisement   Will You Be Blindsided by the Global Chip Shortage?

Today's Top Stories From the Breitbart News Desk The news that Merck has an effective treatment for the Covid-19 was greeted with cheers by investors. Shares of Merck shot up by nearly 9 percent, which is quite a lot for a company with a market cap of $200 billion. The rest of the market was buoyed by hope as well, something that has been increasingly rare lately. But it wasn't just treatments (there will likely be more coming in the weeks and months ahead) that brightened spirits on Wall Street. The data on infections are increasingly encouraging. The seven-day moving average of new cases fell to 108,800 last week, down more than 30 percent from the peak on September 30. According to CDC data, 13 states have over 60 percent of their total population vaccinated, and another 21 are above 50 percent. So not surprisingly, the virus is weighing less on the economy. Restaurant seatings are up, according to Open Table data. Economists at Bank of America report that the percentage of adults surveyed who say that they would be comfortable traveling or going on vacation ticked up to 50 percent this past week vs. a low of 44 percent in mid-August. Air travel at the end of September was 79 percent of the equivalent day in 2019, up from 71 percent at the end of August, according to TSA. But while there may be a bit of a mini-reopening in the economy, inflation is pushing back. The University of Michigan's end-of-month consumer sentiment showed that even though the headline number improved, the attitudes toward major purchases declined. Consumers are balking at high prices and are probably put off by shortages. There's a good reason for that. Wage gains have fallen behind price increases, so people are getting poorer. The August data on the Personal Consumption Expenditures Price Index showed that appliances are up 7 percent year-over-year, far more than almost anyone's raises over 12-months. One important question over the next few months will be how these conflicting forces—the re-reopening accelerant and the inflation drag—affect holiday shopping. There's an increasing likelihood that consumers will opt to shop early, fearing that the supply chain disruptions will leave store shelves empty. That will initially cheer merchants but could ultimately lead to disappointment if it turns out that October retail sales simply stole from November and December. – Alex Marlow & John Carney Breitbart News Network

TOP STORY

Carney: Defend the Debt Ceiling!

Now that the debt ceiling is once again provoking howls of outrage and squeals of dread, it's worth remembering why we have it and the good that it does. The short answer: the debt ceiling ensures that bills, notes, and bonds issued by our government really is backed by the full faith and credit of the United States under the constitution. Our stating place, as usual, is the Constitution of the United States. The constitution authorizes just one branch to borrow money on behalf of the U.S. government. [Click here for more]

IN OTHER STORIES...

Biden Economist Admits U.S. Could Experience Elevated Inflation Through Mid-2022

A Biden administration Member of the Council of Economic Advisers admits that the United States could experience higher-than-normal inflation well into the next year. Fox Business reports: Jared Bernstein told FOX Business he sees inflation ending around 4% this year but settling back down... [Click here for more]

Bidenflation Takes Hold: Consumers Slow Spending

Americans were staggered by sticker shock in September. U.S. consumer sentiment edged up in the month but favorable attitudes toward buying declined further as consumers balked at the prices of big-ticket items like homes, vehicles, and durable goods, the University of Michigan's Survey of Consumers showed Friday. Even prior to the September drop, favorable attitudes toward buying durable goods were... [Click here for more]

Bidenflation Unexpectedly Accelerated in August to Fastest Pace in Over 30 Years

Inflation unexpectedly accelerated in August, as shortages of a wide range of consumer goods and services drove up prices. The Personal Consumption Price Index for August increased 4.3 percent from one year ago, reflecting increases in the prices paid by consumers for both... [Click here for more]

FOLLOW

Did you receive this email from a friend? Sign up to receive Breitbart Business Digest.   ©2021 Breitbart News 149 S. Barrington Ave. #401 Los Angeles CA 90049 USA     Want to change how you receive these emails? You can *update your preferences or *unsubscribe from this list.  Subscription Information This message was sent to  Webmaster220 Bible Study Blog *the blog owner has deleted the hyperlink intentionally   Known for his network of conservative Web sites that draws millions of readers everyday, Breitbart had one main goal: to make sure the "liberally biased" major news outlets in this country cover all aspects of a story fairly. Breitbart is convinced that too many national stories are slanted by the news media in an unfair way. Here, Breitbart talks about the key issues that Americans face, how he has aligned himself with the Tea Party, and how one needs to deal with the liberal news world head on. Buy from Alibris.com Righteous Indignation: Excuse Me While I Save the World! by Andrew Breitbart  Buy from Books-A-Million.com Righteous Indignation: Excuse Me While I Save the World! by Andrew Breitbart