Our commentary partners will help you reach your own conclusions on complex topics.
How to protect yourself during a recession
Well, now everyone is talking about recession. We have, as you know, for several months at least, but it’s now the talk of the town. What is a recession after all? Well, it’s like the Supreme Court and pornography. You know it when you see it. And there’s a special board at the National Bureau of Economic Research that officially calls the business cycle. It’s a bunch of independent academics, not government employees. Now, traditionally, they have looked at four different indicators as the primary indicator. The first is employment. And so far, so good on that score. The second is industrial production, which the Federal Reserve measures. Now industrial production includes a whole host of things. What we already know is that manufacturing is in decline. But overall industrial production, which includes mining, think oil drilling, is still holding up as long with utilities. In addition, there’s a an organization that ask businesses how they’re doing called market. And they reported that, in fact, manufacturing is declining in their surveys as well. Then there’s real final sales, which is declining. And finally, something called real disposable, excuse me, real personal income, less transfers, sounds technical, but that’s what it is. It’s essentially unchanged. So I would say we got one up two down, and one tide, we’ll have to see. There are other signs as well. For example, the Federal Reserve surveys businesses in each of the 12 Federal Reserve districts, three of the biggest ones, New York, Philadelphia, and Dallas, are all in contraction mode. In addition, the Michigan consumer sentiment index dropped 14%. In between May and June. It is now at the lowest level since it began, which was actually right after World War Two, it’s down to a level of 50. In the last three fairly deep recessions, they tended to bottom out in the mid 60s, so this is quite low. In addition, 79% of the people in the survey, expected worsening business conditions in the six months ahead. So consumers have a bleak attitude as well, to sort of put the ribbon on the whole story, to have government leaders. One is Treasury Secretary Powell, and the other is Treasury Secretary Janet Yellen. So Chairman Powell said, well, a recession is possible. And Yellen said a recession is not inevitable. Given everything, I suppose they’re putting as good a spin on it as possible. But that is pretty thin rule when it comes to defending the state of the economy. So what should you do? Well, you know, recessions are not the end of the world, we tend to have the about every six or seven years. The first thing you should ask yourself, Is Is your job secure. If your job is secure, you’re probably going to do okay. Your income as now may not keep up with inflation, but at least you’ll have an income coming in. The second thing you should consider is do you have a heavy amount of credit card debt. And to the extent possible, you should pay off your credit card debt and not use your credit card for charging purposes. Unless you pay it off at the end of the month. During the recession, it can build up easily, and that can lead you into financial trouble. And finally, and this is true at everyone, watch you’re buying the recessions are times of uncertainty. And when you face uncertainty, the prudent thing to do is step back and take it easy.
Why Ukraine’s Volodymyr Zelenskyy is such a remarkable leader
In 2022, Ukraine President Volodymyr Zelenskyy garnered a standing ovation when he addressed the U.S. Congress, invoking a quotation from Franklin D. Roosevelt. In that same year, he made a Grammys appearance from a bunker in Kyiv, urging unity in the fight against Russia. Since Russia initiated a full-scale invasion of Ukraine, Zelenskyy’s prowess as
How Chinese media covered Biden-Xi meeting
U.S. President Joe Biden and Chinese President Xi Jinping recently met in San Francisco, marking their first in-person meeting in more than a year. After years of rising U.S.-China tensions, expectations for the meeting were understandably low. Straight Arrow News contributor Larry Lindsey examined Chinese domestic media coverage of the meeting to identify the hopes,
Rising support for Hamas among students highlights ignorance
Tensions are rising on college campuses as pro-Israeli and pro-Palestinian students clash, increasing calls for heightened security measures and even the resignation of top administrators. Some universities have taken the step of banning pro-Palestinian groups, accusing them of supporting Hamas and openly endorsing the Oct. 7 attack on Israel. Straight Arrow News contributor Larry Lindsey
Chinese disappearances are no mere coincidence
Xi Jinping has greatly expanded his power and authority within China since rising to the presidency in 2013. In similarly authoritarian systems, political disappearances, assassinations, and abductions frequently rise. Throughout 2023, observers have noticed these events playing out in China. Even the most powerful and high-profile Chinese politicians have fallen victim to secretive disappearances and
US debt interest is cause for concern
Economist Paul Krugman recently said that interest payments on U.S. debt won’t be a major concern in the years ahead. The U.S. national debt is almost at $33 trillion, and the interest payments alone on that debt are approaching $500 billion per year. Straight Arrow News contributor Larry Lindsey disagrees with Krugman and instead urges
Underreported stories from each side
UPenn loses $100 million donation after antisemitism hearing
13 sources | 15% from the left
Post-Roe, nearly 1 in 5 people seeking an abortion traveled out of state, analysis finds
10 sources | 0% from the right
In addition to the facts, we believe it’s vital to hear perspectives from all sides of the political spectrum.