First $1 Billion, Now $50 Million: Khanna Says Wealth Tax "Must Not Stop At Billionaires"

Hurricane Shuts 63% Of US Gulf Oil Output, Threatens Refineries; Jefferies Warns Of "Fuel Supply Event" Summary: Hurricane Isaias Landfall Forecasted For Late Friday/early Saturday  Major US Refineries In Hurricane's Projected Path  63% Of US Offshore Gulf Oil Output Shut  25% Of US Offshore Gulf Oil Output Shut As Hurricane Isaias Nears, Threatens Refineries Hurricane Isaias Shutters 63% of US Gulf Oil Production Bloomberg cites data from the Marine Minerals Administration showing US Gulf offshore oil producers have halted about 1.28 million barrels per day, equivalent to shutting in 63% of regional output. Natural gas shut-ins...

UMich Sentiment Slumps In August As War Re-Escalated, Inflation Fears Tick-Up Following July's rebound to pre-war levels, the preliminary August University of Michigan Consumer Sentiment index was expected to weaken modestly as the MidEast re-escalated (and with it the price of gas). Sure enough, the headline sentiment index tumbled from 55.2 to 51.0 (55.0 exp) with both Current Conditions (51.8 vs 54.8 prior vs 54.9 exp) and Expectations (50.6 vs 55.4 prior vs 55.2 exp) also both tumbling... Decreases in sentiment were seen across the political spectrum, with Republicans exhibiting the strongest...

Does Demand Create Supply? Authored by Frank Shostak via Mises Institute, By popular thinking, increases in demand cause economic growth. According to such thought, whenever the economy falls into a recession what is required is to strengthen demand. Since government is seen as an important part of total demand, what is then required is to increase government outlays, thereby lifting overall demand and hence increasing economic growth. According to the popular view, it is also possible to strengthen overall demand through the inflationary increases in money supply. With more money in their...