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CEO of JPMorgan warns US of economic fate worse than recession: ‘The worst outcome’
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Approved, Fox Business, National

CEO of JPMorgan warns US of economic fate worse than recession: ‘The worst outcome’

By Jasmine Baehr  | Fox Business JPMorgan Chase CEO has laid out the "worst outcome" for America's economic future, beyond recession. "The worst outcome is stagflation," said Dimon. "And by the way, I wouldn't take it off the table." 68-year-old Jamie Dimon made his remarks on Tuesday at the Council of Institutional Investors in New York. JPMorgan Chase is the largest bank in the United States according to Bankrate, with $3.4T in assets. Stagflation, a portmanteau of stagnation and inflation, refers to a state where economic growth slows while inflation and unemployment rise. The economic consequences of stagflation may cause retirement savings to go down as well as the stock market to crash; it was last seen in the U.S. during the 1970s, according to Inves...
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Denver ranked as the hottest labor market in the US
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Approved, kdvr.com, Local

Denver ranked as the hottest labor market in the US

By Spencer Kristensen | KDVR Job hunting has never been a fun task. Financial security depends on it; it can take months to maybe even years to find something and there are always so many outside factors affecting the market. Job hunting in 2024 has become even more stressful. Many fields are still recovering from the effects of the COVID-19 pandemic, it can take filling out hundreds of applications to even hear back for one preliminary interview, companies are receiving thousands of digital applicants and resume tailoring and networking have become a necessity. At times, the job hunt can feel hopeless. It doesn’t always have to be that way though. With a good plan and plenty of research, applicants can increase their odds. READ THE FULL STORY AT KDVR
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U.S. borrowing tops $1.9 trillion so far this year
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The Center Square, Approved, National

U.S. borrowing tops $1.9 trillion so far this year

By Jennie Tae and Jorge Fitz-Gibbon | The Center Square  The federal government borrowed $1.9 trillion in the first eleven months of fiscal year 2024, including $380 billion in August, a startling amount as federal watchdogs sound the alarm on spending. Those borrowing figures come from the the latest Monthly Treasury Statement from the Treasury Department. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said that is roughly $6 billion borrowed per day this fiscal year. "America faces steep fiscal challenges in the very near future – next year alone, we’ll need to confront the multi-trillion dollar question of extending the 2017 tax cuts, we’ll need to raise the debt ceiling, and we’ll need to address the expiration of discretionary spend...
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Mayor Mike Johnston unveils 2025 budget proposal amid cuts due to declining Denver consumer spending
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Approved, CBS Colorado, Local

Mayor Mike Johnston unveils 2025 budget proposal amid cuts due to declining Denver consumer spending

By Jasmine Arenas | CBS Colorado A drop in consumer spending is affecting the city of Denver's finances. Mayor Mike Johnston unveiled his proposed 2025 budget on Thursday, and as a result of that dip in it includes substantial cuts to programs that he's passionate about.   Nicole Doheny, the chief financial officer for the City and County of Denver, says cities like Los Angeles and Chicago are also facing similar challenges. "Denver is not immune to these factors. Here in Denver what these trends mean for us is that our revenue growth for 2025 is projected at 1.1%. (It's our) lowest revenue growth since the pandemic," Doheny said. READ THE FULL STORY AT THE CBS COLORADO
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Cost of living, housing affordability are top concerns for Colorado residents
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Approved, coloradopolitics.com, State

Cost of living, housing affordability are top concerns for Colorado residents

By Marissa Ventrelli | Colorado Politics Cost of living, housing and politics top the list of concerns for Coloradans this year, according to the Colorado Health Foundation's annual pulse survey. Of the 2,404 individuals surveyed, 19% identified cost of living and inflation as the most important issue facing the state, while 17% named housing affordability and 11% cited government and politics. Other top concerns included homelessness, immigration and public safety. Immigration saw the highest change — a 12-point increase from last year's survey. Responses for cost of living and housing increased 3 and 2 points, respectively.  READ THE FULL STORY AT COLORADO POLITICS
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Big Lots files for bankruptcy, will close some stores amid sale to investment firm
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Approved, Fox Business, National

Big Lots files for bankruptcy, will close some stores amid sale to investment firm

By  Pilar Arias | Fox Business About three months after Big Lots noted "substantial doubt about the Company's ability to continue" in a U.S. Securities & Exchange Commission (SEC) filing, the company said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital. This comes as the company has initiated bankruptcy proceedings under Chapter 11. Big Lots listed its assets and liabilities in the range of $1 billion to $10 billion, according to a filing with bankruptcy court in Delaware, which showed creditors in the range of 5,001-10,000. Big Lots cited troubles that began during the COVID-19 pandemic, and "macroeconomic factors such as high inflation and interest rates that are beyond its control." RE...
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Conservative economists pour cold water on Harris’ new small-business tax proposal
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Approved, Fox News, National

Conservative economists pour cold water on Harris’ new small-business tax proposal

By Alec Schemmel  | Fox News Conservative economists are pouring cold water on Vice President Kamala Harris' new proposal aimed at reducing startup costs for new small businesses as part of her "Opportunity Economy" economic platform. Harris unveiled new small-business tax proposals last week aimed at reducing the cost burden related to starting a new business. Among the proposals was a substantial increase in the standard tax deduction for small-business startup costs, from $5,000 to $50,000. "It’s essentially a tax cut for starting a small business," the vice president said during a stump speech announcing the new proposal. "We're going to help more small businesses and innovators get off the ground." READ MORE AT FOX NEWS
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Trump predicts ‘1929-style depression’ if Kamala wins
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Approved, Breitbart, National

Trump predicts ‘1929-style depression’ if Kamala wins

By Jeff Poor | Breitbart Wednesday, during a town hall event that aired on FNC’s “Hannity,” former President Donald Trump, the Republican nominee for president, warned viewers about a repeat of the 1929 Great Depression if Vice President Kamala Harris, his Democrat opponent, wins. Partial transcript as follows: HANNITY: Here’s my point. She wants to raise corporate taxes, she wants to raise small business taxes, capital gain taxes, estate taxes, the international corporate minimum tax to the point where America won’t be competitive anymore and your tax cuts are about to expire in 2025. TRUMP: Yeah. READ THE FULL STORY AT BREITBART
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Rogan: Kamala Harris’s plan for economic failure
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Approved, Commentary, National, Washington Examiner

Rogan: Kamala Harris’s plan for economic failure

By James Rogan | Washington Examiner Today’s left-wing Democrats are yesterday’s Marxists. Judged by their policy proposals, Vice President Kamala Harris and the left wing of the Democratic Party plainly do not believe in capitalism. They do not believe in striving. They do not believe that society should be meritocratic. As with the Marxists of the last century, they believe in equality regardless of the reality that all human beings are unique. Some humans are geniuses but most are not. Some are great athletes, but most are not. Regardless of mental, physical, or artistic talent, however, the Left argues that we should all be equal. They swear fealty to that old Marxist principle: from each according to his or her ability, to each according to his or her...
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Inflation has some military families ‘grasping at pennies’
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Approved, Military Times, National

Inflation has some military families ‘grasping at pennies’

By Karen Jowers | Military Times Inflation is “destroying any joy we may have been able to afford,” the airman wrote. “We are literally grasping at pennies to survive and it’s killing us.” Statements from the airman — stationed at Holloman Air Force Base, New Mexico — and many others came in response to Military Times’ call for comments on how inflation has impacted service members and their families. Most responded with a common theme: Families are “cutting back” or “eliminating” everything from grocery shopping and driving to subscription services, vacations and eating out. Consumer prices were up by 3% from June 2023 to June 2024, according to the Bureau of Labor Statistics. That’s on top of inflation over the previous several years. READ MORE AT THE MILITARY TIMES...
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