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El Paso Sector agents seize more than 60 pounds of methamphetamine

11/19/2021 06:50 PM EST

ALAMOGORDO, N.M. – El Paso Sector Border Patrol Agents seize more than 60 pounds of methamphetamine in a vehicle traveling on New Mexico Highway 70 on Monday.A black Nissan sedan with Mexican license plates and two occupants were encountered at the...

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The Most Expensive Thanksgiving Ever

Inflation is definitely resurgent. This week the Federal Reserve banks of New York, Philadelphia, and Kansas City all released their monthly surveys of manufacturers.      November 19, 2021 advertisement   WATCH TEEKA'S URGENT VIDEO NOW (#1 Crypto to Own Now Revealed FREE)

Today's Top Stories From the Breitbart News Desk Inflation is definitely resurgent. This week the Federal Reserve banks of New York, Philadelphia, and Kansas City all released their monthly surveys of manufacturers. The surveys showed robust demand and price hikes near or breaking records. The Philadelphia Fed's read of prices received rose to its highest level since 1974, while the New York Fed's version broke its all-time record. One result of this is that the surge in retail sales reported this week is likely concealing a decline when adjusted for inflation. Indeed, we're seeing that real economic activity is drifting lower in a number of areas due to prices and shortages. For example, housing starts dipped in October despite robust demand, likely because of difficulty in obtaining materials and labor. Evidence that this is a supply problem comes from the fact that permit applications jumped higher than expected and home builder confidence rose. The American Farm Bureau reports that the price of a typical Thanksgiving meal will be 14 percent more expensive this year than last. The average price is now $53.31, a record high and a big reversal of the trend that saw the price of Thanksgiving falling most years since 2015. In fact, in 2018, the price had fallen below 2010, and it rose by just a penny in 2019 to $48.90. Despite high and rising inflation, the House passed the Biden administration's enormous deficit spending bill Friday morning. The CBO says it adds $160 billion to the deficit over the next ten years, but that number is artificially depressed by the gimmick of "sunsetting" expensive programs after a few years. A better view of the true cost of the bill can be seen through the five-year window, where it adds $750 billion. The fate of the bill in the U.S. Senate remains unclear. Next week, the government releases its second estimate of third-quarter GDP. Economists expect an upward revision from two percent to 2.2 percent. We'll also get the October read of the Personal Consumption Price Index, the Commerce Department produced inflation gauge that the Fed considers a better measure than the more familiar Consumer Price Index out of the Labor Department. This is expected to jump from 4.4 percent in September to 5.1 percent. Core PCE inflation is expected to rise to 4.1 percent from 3.6 percent. – Alex Marlow & John Carney Breitbart News Network

TOP STORY

U.S. Manufacturing Surveys Show Bidenflation Surging

After easing in late summer and early fall, inflation is surging again across the country, a pair of regional manufacturing surveys this week indicate. The Philadelphia Fed's November reading of prices received by manufacturers in the area soared toa 47-year high, data showed Thursdaay. The costs of materials used by factories surged to the second-highest level since 1979. A similar survey from the New York Fed showed the metric of prices charged by manufacturers rose to the highest level since 2001. Prices paid for materials were at the second highest on record. [Click here for more]

IN OTHER STORIES...

CBO: Joe Biden's Bill Will Invite 'Millions' of New Migrants

The Democrats' Build Back Better (BBB) bill will add millions of new immigrants to the U.S. population in the first 10 years, on top of an amnesty for roughly 6.5 million people, according to the Congressional Budget Office (CBO). "About 6.5 million aliens (non-U.S. nationals) would receive parole," say the notes to the CBO's $121.7 billion cost estimate. The November 18 note continues: [Click here for more]

Gas Group Pushes Back on Biden Blaming Industry for High Fuel Prices: 'Distraction' from Bad Energy Policies

As pressure mounts on Joe Biden and his administration over inflation, including higher prices at the gas pump, the president has asked the Federal Trade Commission (FTC) to investigate potentially "illegal conduct" by the oil and gas industry — and that industry is pushing back. "This is a distraction from the fundamental market shift that is taking place and the ill-advised government decisions that are exacerbating this challenging situation," Frank Macchiarola, senior vice president for policy, economics and regulatory affairs at the... [Click here for more]

Democrats Approve Billion-Dollar Tax Cut for Their Rich, Blue State Donors

House Democrats approved hundreds of billions of dollars in tax cuts for their wealthy, blue state donors with the passage of President Joe Biden's "Build Back Better Act." On Monday, House Speaker Nancy Pelosi (D-CA) oversaw the passage of the filibuster-proof $1.75 billion budget reconciliation package that would deliver billions in tax breaks to the wealthiest residents of blue states if approved by... [Click here for more]

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