Retail Sales Plummet as Inflation Bites, Stores Run Low on Goods
Retail sales are plummeting in the run-up to Christmas as stores struggle with supply chain issues and shoppers feel the bite of skyrocketing inflation.
Economy
Communist China Extends Global Mining Dominance, Begins Processing Key Resources
The Chinese Communist Party (CCP) is launching a rare earth metal company as it seeks to extend China’s global dominance in mining. The CCP has approved the creation of the “China Rare Earth Group” that will oversee the nation’s processing of key resources. The government corporation could launch by the end of the year, according … Read more
Janet Yellen: Inflation Should Not Be Labeled ‘Transitory’
Democrat President Joe Biden’s Treasury Secretary Janet Yellen has warned that policymakers must stop using the term “transitory” when describing high levels of inflation. However, “transitory inflation” is a position that many investors have been holding for several months. The Department of Labor’s most recent inflation data indicates that consumer prices are rising at a 6.2% clip. … Read more