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The traditional rite of passage for young professionals seeking a career in investment banking may soon be upended by the rapid advancements in AI technology, according to a recent report.
The post Bad News for MBAs: AI Revolution Poised to Disrupt Entry-Level Jobs on Wall Street appeared first on Breitbart.
A court in Ho Chi Minh City rushed on Thursday to sentence real estate tycoon Truong My Lan, one of the richest women in the world, to death for her part in a $12.5 billion fraud case.
The post Female Vietnamese Real Estate Tycoon Sentenced to Death in $12 Billion Fraud Case appeared first on Breitbart.
President Biden welcomed an array of high-profile guests, including tech industry leaders, to a state dinner held in honor of Japanese Prime Minister Fumio Kishida at the White House on Wednesday evening.
The post Tech Titans Jeff Bezos and Tim Cook Grace Joe Biden with Their Presence at State Dinner appeared first on Breitbart.
When Biden took office, inflation was running below the Fed's two percent target. It only took off after he pushed through his $1.9 trillion stimulus package.
The post Fact Check: Biden Blames Inflation on Trump appeared first on Breitbart.
Delinquency rates among American credit card holders are at an all-time high, according to a Federal Reserve Bank of Philadelphia report.
The post Nolte: Bidenomics Drives Credit Card Delinquencies to Record High appeared first on Breitbart.
Core inflation rose for a third consecutive month, the producer price index showed Thursday.
The post Bidenflation: Core Producer Prices Up The Most Since September appeared first on Breitbart.
The Biden White House claims to have heralded “a great year for American workers” with more jobs created “during any year of the prior Administration.” However, most are part-time or government jobs, paid for by taxpayers. Additionally, the constant influx of illegal immigrants distorts the job market.
The March jobs report shows 303,000 new jobs added. However, most of the jobs were part-time. Meanwhile, year-over-year creation of full-time positions has been in recession territory since December. Even these part-time jobs are largely going to immigrants, including illegal immigrants. Consequently, considering both part-time and full-time employment, there have been almost no jobs created for citizens.
Nearly one-quarter of the new jobs are government jobs, paid for by taxpayers. This percentage is about double the norm for government job creation, which typically falls between 10 and 12 percent. In addition to the fact that government jobs drain taxpayer funds, they also do not represent an investment in the future. Jobs created by a private company today, if successful, will grow and create more jobs in the future. Private companies develop new industries, products, and services that facilitate investment and the development of other private companies. This is why the US economy is much more robust than the economy of a centrally planned, communist country.
Even in communist China, the rapid economic growth of the past few decades was led by the private sector, not the public sector. Another problem with a growing public sector is that it draws talent away from the private sector. People who might otherwise have been inventive or innovative, creating something new in the private sector, will be absorbed into government jobs that produce nothing.
In addition to there not being enough full-time jobs, the job market is also plagued by swings and fluctuations. Inflation is a constant feature of the Biden economy, making markets more susceptible to speculation regarding Fed policy. Usually, as election time nears, the sitting president, running for reelection, will decide that the level of inflation is too low and will cut interest rates to induce an illusory job boom. Signals from the White House and the Fed suggest that they are mulling over such a destructive move now, despite the fact that the US still faces high inflation and has suffered cumulative inflation of over 18% since Biden took office.
Biden’s student loan forgiveness plan is an example of a shortsighted policy that will give people the illusion of a better economy. People who will have thousands of dollars’ worth of debt wiped clean will feel instant relief and forget that every product they buy is more expensive than under Trump. As a populist move, those wishing to have their current or future college debts erased will also vote for Biden.
Like any other government transfer, the student loan forgiveness program is transferring money from taxpayers—who may or may not have been able to afford college—to people who borrowed money, attended college, and will now enjoy the economic benefits of an education at the expense of others. The trillions Biden is giving away through this and other programs, which began during COVID, are driving up the deficit, increasing the debt, and eroding the dollar’s buying power.
There are areas where job creation and real economic growth could be fostered, such as by increasing Liquified Natural Gas (LNG) exports. The energy industry creates highly paid, full-time jobs for non-college graduates, which is something this country is running short of. However, Biden caved to the climate crowd and has halted approvals for export certifications for LNG, a commodity whose price has nearly tripled since sanctions on Russian energy exports reduced the supply to Europe and the world.
Cutting these LNG jobs and revenues is considered a victory for climate activists. However, the Energy and Commerce Committee, along with more than 150 House Republicans, including Speaker Mike Johnson, R-La., are working to reverse Biden’s ban on LNG. They argue that demand will remain the same, while Biden is effectively cutting the supply, thus driving up prices. Expanding US LNG exports would bring down prices, create jobs, increase the size of the US economy, and afford the US diplomatic advantages, bringing the US closer to its European allies.
If the Biden economy is considered good, perhaps we should revert to the supposedly bad economy under Trump, where inflation was low, unemployment was low, gas prices were low, illegal immigration was being addressed, and Russia dared not invade Ukraine.
The post Biden Job Creation: Part-time, Government Jobs, and Distorted Unemployment Numbers appeared first on The Gateway Pundit.
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bec, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons
Rapper 50 Cent's iconic name has once again been used for a political pun ... this time from rapper and outspoken Trump supporter Lil Pump.
The post Rapper Lil Pump: Bidenflation Will Make Rapper 50 Cent Become ‘59.7 Cent’ appeared first on Breitbart.
On Wednesday’s broadcast of “CNN Newsroom,” Biden Campaign Co-Chair Rep. James Clyburn (D-SC) responded to criticism by Biden’s former Chief of Staff Ron Klain of President Joe Biden for touting infrastructure when people are dealing with inflation by stating, “Well,
The post Biden Co-Chair Clyburn on Klain Inflation Criticism: ‘I’m Not an Economist’ ‘Don’t Know How These Issues Really Work’ appeared first on Breitbart.
Tennessee families are spending $922 per month "just to tread water" in President Joe Biden's economy, Sen. Marsha Blackburn (R-TN) said.
The post Exclusive — Marsha Blackburn: TN Families Spending $922 Per Month ‘Just to Tread Water’ appeared first on Breitbart.
Students submitted more than 22 million papers last year that were likely written by AI tools, according to new data published by Turnitin, a software service that checks papers for plagiarism.
The post Cheating Detector: Students Submitted 22 Million Papers Written by AI Last Year appeared first on Breitbart.
The victory over inflation that the Biden administration and many on Wall Street were eager to celebrate last year now seems to have been, well, transitory.
The post Breitbart Business Digest: March Inflation Report Kills Chance of a June Rate Cut appeared first on Breitbart.
The latest oil price-tracking data suggests Russian crude oil is selling far above price caps imposed by the G7 nations in 2022.
The post Russian Oil Shatters G7 Price Caps in Defiance of Sanctions appeared first on Breitbart.
The U.S. Postal Service (USPS) has proposed a 7.8 percent price increase for stamps to "achieve financial stability."
The post U.S. Postal Service Announces Sixth Price Increase Since 2020 appeared first on Breitbart.
ByteDance, the Chinese parent company of massively popular psyop against western teenagers TikTok, has achieved a massive 60 percent increase in profits for 2023, outpacing Chinese competitors like gaming giant Tencent.
The post China Finds Big Money in TikTok Psyop as ByteDance Profits Soar 60% appeared first on Breitbart.
Haircare costs increased since 2023 under President Joe Biden, March CPI numbers revealed on Wednesday.
The post Salonflation: Haircare Inflation Takes a Snip Out of Consumers’ Wallets appeared first on Breitbart.
The Federal Trade Commission (FTC) has awarded prizes to four organizations for developing technologies that can distinguish between authentic human speech and audio generated by AI, as concerns grow over the influence of deepfakes on elections and consumer scams.
The post Can You Believe Your Ears? FTC Awards Prizes for Tech to Detect AI-Generated Deepfake Voices appeared first on Breitbart.
Exit polls in South Korea’s midterm elections on Wednesday predicted a landslide win for the left-wing Democratic Party (DP) and its “sister party,” the Democratic United Party (DUP).
The post South Korea: Exit Polls Predict Landslide Leftist Win in Midterm Elections appeared first on Breitbart.
The prices of auto repair, auto insurance, and parking have surged since 2023, according to March Consumer Price Index (CPI) data.
The post Car Ownership Prices Accelerate: Bidenflation Hits Auto Repairs, Car Insurance, and Even Parking Prices appeared first on Breitbart.
The costs of daycare and school have soared to nearly five percent since 2023, March Consumer Price Index (CPI) data shows.
The post Kidflation: Daycare and School Prices Soar appeared first on Breitbart.
Tesla owners reportedly waited hours to charge their vehicles after Monday's total solar eclipse. The long lines at charging stations are like salt in the wound of EV owners who are forced to wait as their cars charge enough to reach home — a major concern when major traffic days can cause long delays.
The post Plug-In Nightmare: Tesla Owners Wait Hours to Charge Electric Vehicles After Eclipse appeared first on Breitbart.
A new trend on China's TikTok called "Things I'm ashamed to admit" involves the platform's young users engaging in an egregious amount of oversharing on social media under the guise of dispelling the notion that people are living perfect lives.
The post Oversharing with China: TikTok Trend Encourages Young Users to Spill Their Guts appeared first on Breitbart.
President Joe Biden's former chief of staff Ron Klain complained during a recent event that the president was too focused on taking victory laps on infrastructure projects and not doing enough to address voters' immediate concerns, such as the price of groceries, according to a report.
The post Former Biden Chief of Staff Ron Klain Says Biden Taking Victory Lap While Grocery Prices Are Too High appeared first on Breitbart.
Tesla CEO Elon Musk has made a bold prediction about the future of artificial intelligence, claiming that AI will be "smarter than the smartest human" within the next two years.
The post Elon Musk Predicts AI Will Surpass Human Intelligence Within Two Years appeared first on Breitbart.
Prices of dental care, eye care, and personal care have increased since 2023, March Consumer Price Index (CPI) data revealed Wednesday.
The post Open Wide: Bidenflation Pushes Up Dental Care, Eye Care, Personal Care Products appeared first on Breitbart.
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Inflation under Joe Biden has sent the costs of maintaining a household soaring. Rent, electricity, and garbage collection prices are all up.
The post Gimme Shelter: Inflation Pushing Up Rents, Garbage Collection, Electricity appeared first on Breitbart.
The worse than expected inflation likely dashes hopes for a rate cut in June.
The post Bidenflation Reignited: Consumer Prices Rise More Than Expected For Third Straight Month appeared first on Breitbart.
There's a specter haunting Wall Street. The specter of resurgent inflation.
The post Breitbart Business Digest: March Inflation Looms Over Wall Street appeared first on Breitbart.
The nationwide average price for regular gas hit a reported six-month high of $3.60 a gallon on Tuesday, spiking more than 50 percent under President Joe Biden.
The post Gas Prices Hit Six-Month High, Spiking More than 50% Under Joe Biden appeared first on Breitbart.
Tesla has reportedly settled a lawsuit filed by the family of an Apple engineer who died in a 2018 crash involving the company's controversial Autopilot technology, according to court filings on Monday.
The post Tesla Reaches Confidential Settlement in Fatal Autopilot Crash Lawsuit appeared first on Breitbart.
Elon Musk's long-awaited Tesla Cybertrucks have been met with a wave of complaints from frustrated owners, who report numerous malfunctions and quality issues just months after the vehicle's launch. One owner reported a complete failure after driving the EV for just one mile.
The post ‘What a Nightmare’ Elon Musk’s Tesla Cybertruck Plagued by Malfunctions and Quality Issues appeared first on Breitbart.
Latino support for President Joe Biden shrunk over his tenure by 12 points, while former President Donald Trump surged among Latinos by three points during the same period, an Axios/Ipsos poll found.
The post Ipsos Poll: Biden Surrenders Latino Support, While Trump Surges appeared first on Breitbart.
The latest polling from Gallup shows that public support for transitioning to an electric vehicle (EV) has dropped by quite a lot since 2023.
The post Nolte: Gallup Poll Shows Growing Backlash Against Electric Vehicles appeared first on Breitbart.
Chicago's self-professed progressive Mayor Brandon Johnson is pushing the Biden administration to cut loose with more work permits for the tens of thousands of illegals sheltering in the city even as local black unemployment soars to many times the national average.
The post Chicago’s Mayor Brandon Johnson Pushing Biden to Supply More Work Permits for Migrants appeared first on Breitbart.
El Salvador will offer 5,000 free passports to "highly skilled" foreign scientists, engineers, doctors, artists, and philosophers.
The post El Salvador to Offer 5,000 Free Passports to ‘Highly Skilled Immigrants’ appeared first on Breitbart.
During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen stated that “the great majority of” trade between the U.S. and China “is uncontroversial” and she’s working to ensure that the geopolitical relationship and national security worries won’t
The post Yellen: ‘Great Majority’ of U.S.-China Trade Is Fine, Must ‘Understand’ Their Red Lines appeared first on Breitbart.
On Monday’s broadcast of CBS’s “Late Show,” Rep. Alexandria Ocasio-Cortez (D-NY) stated that the student loan plan announced by President Joe Biden earlier in the day is “hope” for those who benefit from the plan to be able to do
The post Ocasio-Cortez: Biden Loan Plan Gives Beneficiaries ‘Hope’ They Can ‘Travel Abroad’ appeared first on Breitbart.
Gov. Wes Moore (D-MD) vowed on Monday evening to sign the PORT Act into law after Maryland's Senate passed the emergency legislation.
The post Maryland Gov. Wes Moore Vows to Sign Emergency Relief Act for Port of Baltimore Workers appeared first on Breitbart.
During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen said that “Some low-income consumers are perhaps exhausting their buffers of saving[s] that they built up during the pandemic, we’re seeing a little bit more distress at the
The post Yellen: There’s ‘More Distress’ in Low-Income Households, But Households ‘Generally’ in ‘Very Good’ Shape appeared first on Breitbart.
Americans have "legitimate frustration" over migration and economic opportunities, "and I agree with them," said Jamie Dimon, the billionaire chairman and chief executive officer of the world's biggest bank, JPMorgan Chase.
The post World’s Leading Banker: The U.S. Establishment Has Failed appeared first on Breitbart.
A recent study showed that 1 in 3 members of Generation Z have no income and have a poor economic outlook.
The post Study: 1 in 3 Zoomers Have No Income, Poor Economic Outlook appeared first on Breitbart.
Tesla CEO Elon Musk has once again stirred up excitement and skepticism with his latest announcement of an upcoming Tesla Robotaxi unveiling on August 8, 2024, despite a history of unfulfilled promises surrounding the currently non-existent "robotaxi" service.
The post Hypemaster Elon Musk Announces Tesla Robotaxi Despite History of Broken Promises appeared first on Breitbart.
Two influential Japanese companies are warning that "social order could collapse" in the new AI era as they call for new laws to restrain the technology.
The post Japanese Companies Warn that ‘Social Order Could Collapse’ in Age of AI appeared first on Breitbart.
Snapchat has adjusted its 'Solar System' feature, turning it off by default, in response to recent criticism and concerns over its potential negative impact on teens' mental health and relationships. The Solar System feature serves as a friend-ranking tool, driving teen anxiety by making them worry about their social status. One teen explains, “It’s everyone’s biggest fear put onto an app.”
The post Snapchat Turns Off Controversial Feature Fueling Teen Anxiety appeared first on Breitbart.
Retail giant Best Buy is conducting massive layoffs within its Geek Squad tech support division, leaving numerous employees suddenly jobless and struggling to come to terms with their unexpected termination.
The post Bidenomics in Action: Best Buy’s ‘Geek Squad’ Tech Support Unit Hit with Massive Layoffs appeared first on Breitbart.
I am so old, I can remember when “public servants” used to earn less money than they could have expected in the private sector. But those days are long gone. Now, government employees have the rest of us by the throat. Our tax dollars are enriching them, on the average, far beyond what they could earn anywhere else.
This is from Stephen Moore’s Committee to Unleash Prosperity:
The average cost for a government employee in December was $60 per hour, or 40.5% more than his or her private sector counterpart.
Benefits to government employees cost 80.3% more.
This chart shows the numbers:
I would think that if we looked at federal employees, the discrepancy would be even greater. And government employees pretty much can’t be fired, either, so they have these sweet gigs forever.
One interpretation of these numbers is that the rest of us are just serfs on the government’s plantation.
DEI (racial and other quotas) is intrinsically evil. At The Hill, Matt Cole and Chris Nicholson reveal a shocking, practical downside to DEI hysteria: “DEI killed the CHIPS Act.”
The issue is critical because Taiwan now produces 90% of the world’s advanced microchips, and China has indicated its intention to annex Taiwan in the near future. So the CHIPS Act sought to incentivize chip production in the U.S. Unfortunately, that isn’t what is happening.
Handouts abound. There’s plenty for the left—requirements that chipmakers submit detailed plans to educate, employ, and train lots of women and people of color, as well as “justice-involved individuals,” more commonly known as ex-cons. There’s plenty for the right—veterans and members of rural communities find their way into the typical DEI definition of minorities. …
***
Because equity is so critical, the makers of humanity’s most complex technology must rely on local labor and apprentices from all those underrepresented groups, as [the Taiwan Semiconductor Manufacturing Company] discovered to its dismay.Tired of delays at its first fab, the company flew in 500 employees from Taiwan. This angered local workers, since the implication was that they weren’t skilled enough. With CHIPS grants at risk, TSMC caved in December, agreeing to rely on those workers and invest more in training them. A month later, it postponed its second Arizona fab.
Now TSMC has revealed plans to build a second fab in Japan. Its first, which broke ground in 2021, is about to begin production. TSMC has learned that when the Japanese promise money, they actually give it, and they allow it to use competent workers. TSMC is also sampling Germany’s chip subsidies, as is Intel.
It isn’t only TSMC that is being stymied by DEI:
Intel is also building fabs in Poland and Israel, which means it would rather risk Russian aggression and Hamas rockets over dealing with America’s DEI regime. Samsung is pivoting toward making its South Korean homeland the semiconductor superpower after Taiwan falls.
In short, the world’s best chipmakers are tired of being pawns in the CHIPS Act’s political games. They’ve quietly given up on America. …
[C]hipmakers have to make sure they hire plenty of female construction workers, even though less than 10 percent of U.S. construction workers are women. They also have to ensure childcare for the female construction workers and engineers who don’t exist yet. They have to remove degree requirements and set “diverse hiring slate policies,” which sounds like code for quotas. They must create plans to do all this with “close and ongoing coordination with on-the-ground stakeholders.”
No wonder Intel politely postponed its Columbus fab and started planning one in Ireland.
Access to microchips is a national security issue, as well as being fundamental to a modern economy. And yet Congressional majorities care more about DEI shibboleths and feeding pork to their constituencies than about American security and prosperity. Of course, that isn’t really an irony. The whole point of DEI is hating America, and if it imperils our security and our prosperity, so much the better.
Earlier today, I posted the official GOP response to Joe Biden’s SOTU hate-fest, by Senator Katie Britt. Britt’s speech was an impressive performance in its own way; if I were a Democrat, I think she would scare me.
But for us data guys, Stephen Moore’s Unleash Prosperity Hotline has the numbers:
A lot of tall tales and a few outright fabrications in the Biden speech last night – and far too many to enumerate here. But we will revisit three here.
“My administration cut the deficit by $1.7 trillion.”
This isn’t just a little bit false, it’s an extraordinary and audacious misstatement of fact. The baseline deficit over 10 years, as measured when Biden came into office versus the latest forecast, shows nearly $6 trillion added to the debt since Biden arrived on the scene.
So how does a $6 trillion addition of red ink possibly equate to a $1.7 trillion reduction in the deficit. Someone didn’t pass his basic math exam in high school.
“We will make the rich pay their fair share.”
The top 1% of American tax filers now pay an all-time record high 46% of taxes. This is according to Biden’s own IRS. Does he think the rich should pay ALL the taxes?
That is actually a good question. I think that for many Democrats, the answer may be Yes. But within reason, experience shows that lower rates mean higher collections, especially from high earners.
“I inherited an economy [from Trump] that was on the brink…”
Actually, the economy grew by – ready for this? 33% in the third quarter of 2020 and 4.1% in the 4th quarter of 2020. The economy was in a full-scale COVID recovery when Biden came into office.
Oh, and Inflation was 1.4%.
Gas prices were $2.39 per gallon.
If you think of it as a relay race, Trump handed the baton to Biden in first place, with a rapidly growing lead. But Biden tripped over his own feet–both literally and figuratively–and turned the strong position that he inherited (and not only economically) into a fiasco. That I why I don’t see how he can be re-elected, despite Trump’s manifest flaws.
If you don’t get the Unleash Prosperity Hotline, you should. You can sign up for its frequent and always informative emails here.
Brian Deese is “an MIT Innovation Fellow, focusing on the impact of economic policies that strengthen the United States’ industrial capacity and on accelerating climate investment and innovation.” Before that, Deese assisted Joe Biden as Director of the National Economic Council. Asked in 2022 how American families could cope with surging gasoline prices, the NEC boss said, “this is about the future of the liberal world order, and we have to stand firm.” As Sir Bedevere(Terry Jones) might say, who is this who is so wise in the ways of economics?
Deese is the son of Boston College political science professor David Deese, who “researches the international and comparative politics of energy and climate policies worldwide.” Brian’s mother, Patricia Stanton, served as deputy commissioner at the Massachusetts Department of Energy Resources and assistant commissioner of waste prevention at the state Department of Environmental Protection.
At Middlebury College Deese earned an undergraduate degree in international politics and economics. He got into Yale Law School but left a few credits short of graduation to work for Hillary Clinton’s presidential campaign. Composite character president Obama tapped him to help out with climate change.
In a 2016 interview with Rolling Stone, Obama touted the “amazing” Brian Deese, who “engineered the Paris Agreement, the Aviation Agreement,” and “may have helped save the planet.” The auto industry was also in trouble.
“The wunderkind in charge of saving our auto industry is a 31-year-old with about as much experience as a summer intern,” noted Glenn Beck. “Despite having no formal business education, no business experience and no auto industry experience, 31-year-old Brian Deese is now in charge of dismantling General Motors.” David Sanger of the New York Times also weighed in with, “Meet the 31-Year Old in Charge of Dismantling GM.”
In 2017, Deese became a senior fellow at the Harvard Kennedy School. From there it was on to BlackRock, where Deese headed the sustainable investing division, advising clients on meeting environmental, social and governance (ESG) criteria. Deese was reportedly bagging some $2.8 million a year, and building a net worth of $4 million.
In June of 2021, the amazing Deese outline his vision for a “new industrial strategy,” an “activist government,” approach including “targeted public investment, public procurement, climate resilience and equity.” As Deese contends, “markets on their own will not make investments in technologies and in infrastructure that benefit an entire industry.”
And so on, in what Olson Johnson of Blazing Saddles might call “authentic statist gibberish.” Or, in the style of Monty Python, the wealthy MIT Innovation Fellow could qualify for “upper class twit of the year.”
Jeffrey Anderson presents a comparative analysis of presidents and inflation. The mainstream press to the contrary notwithstanding, he explains what Biden has done to make us feel so black and blue. It’s not our imagination. It’s the inflation, stupid! See his City Journal column “No great mystery.” Anderson manages to review the data and perform the analysis with a sense of humor.
The daycare minders at the White House have persuaded Biden to single out “shrinkflation” as the villain. However, “shrinkflation” reflects “inflation.” It is a manifestation of rising prices. Sentient observers understand that Biden economic policies have triggered the inflation that we have suffered, just as they understand that Biden’s senescence has slowed the windmills of his mind. Biden trusts we won’t notice he indicts himself when he decries “shrinkflation.”
Biden’s daycare minders take us for fools. Thus the administration’s critique of Republicans for causing the invasion of illegals that Biden invited, facilitated, and denied. They think we are stupid.
We hear that Biden threatens to point the finger at alleged corporate wrongdoing as the source of our pain in tonight’s State of the Union address. For some reason or other this wave of alleged wrongdoing has run riot under the regime of…Joe Biden. It was somehow held in check under the regime of…Donald Trump. James Bovard seeks to immunize us against the foolishness of the Biden party line in his New York Post column “Joe Biden’s State of the Union ‘shrinkflation’ swindle.”
Vaunce News 