Wednesday, December 25

Author: Patti Mohr

Patti Mohr is a U.S.-based journalist. She writes about global diplomacy, economics, and infringements on individual freedom. Patti is the founder of the Global Economic Report. Her goal is to elevate journalistic principles and share the pursuit of truth in concert with others.
Hamas Opens The Gates Of Hell, Inviting The World In
16Oct By Patti MohrNo Comments
Diplomacy, Human rights, Middle East, Types of News: Analysis

Hamas Opens The Gates Of Hell, Inviting The World In

Terrorist organization Hamas opened up the gates of Hell. Now the world must decide whether to enter or put out the flames. October 16, 2023—The Middle East blew up this month, inviting the world to join it on a downward track to a hellish world of murder, massacre, and a limitless cycle of revenge. It does no good to detail the specifics of the October 7 terror attack by Hamas on Israeli civilians. To do so would only continue to crush the spirit of this writer and readers alike. The point is, it was a full-scale air, sea, and ground attack by Hamas militants. It was the largest terror attack against Israel. It left 1,400 Israelis dead, thousands more injured, and at least 199 people kidnapped. Americans were included in the numbers. Militants broadcast their terror on social ...
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US And Japan Affirm Security Alliance Amid Heightened Tensions In Asia
5Oct By Patti MohrNo Comments
Arms Sales, Military Industry, Geopolitics, Types of News: Brief

US And Japan Affirm Security Alliance Amid Heightened Tensions In Asia

Japanese Defense Minister Minoru Kihara and U.S. Defense Secretary Lloyd Austin affirmed the U.S.-Japan security alliance on Oct. 4, 2023. October 5, 2023—Defense ministers from the United States and Japan strengthened their two countries' security alliance on Wednesday amid heightened tensions in Asia. Japan is expediting a planned purchase of Tomahawk cruise missiles, moving the date up one year. The United States, meanwhile, reaffirmed its promise to defend Japan's mainland and territories in what U.S. Defense Secretary Lloyd Austin called an "ironclad commitment." U.S.-Japan Alliance "This is a time of historic momentum in the U.S.-Japan alliance," Austin said on Wednesday. "We support your government's bold decisions to invest in advanced capabilities including counterstrike...
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Biden Takes The Bullhorn, Walks The Picket Line
26Sep By Patti MohrNo Comments
Domestic Politics, Types of News: Brief, United States

Biden Takes The Bullhorn, Walks The Picket Line

President Biden joins striking workers in Michigan September 26, 2023. September 26, 2023—The power of the U.S. presidency is the bully pulpit, and today President Joe Biden put it to use. As the national autoworkers' strike grew in numbers and gained more news media attention, politicians are taking close notice. The issue is not only that the expanding strike has consequences for workers, consumers, business and the larger U.S. economy, it is also a political one. It is not cynical to say that both parties want to win the loyalties of blue-collar workers, especially in a swing state like Michigan. It's simply a practical matter in U.S. politics. Biden Comments On Workers' Pay Today, Biden wooed striking workers in person. He arrived on the scene one day in advance of a vis...
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U.S. Government Sues Amazon.com In Massive Lawsuit
26Sep By Patti MohrNo Comments
Big Tech, Digital Economy, Types of News: Brief

U.S. Government Sues Amazon.com In Massive Lawsuit

FTC Says Firm Uses 'Illegal Monopoly' Practices To Inflate Prices, Cheapen Products And Stifle Innovation Amazon.com corporate headquarters in Seattle, Washington. September 26, 2023—The U.S. government came out swinging hard today against one of the world's largest tech companies. In a lawsuit filed today, the Federal Trade Commission and 17 state attorney generals accuse Amazon.com ofusing illegal strategies to "inflate prices, degrade quality, and stifle innovation for consumers and businesses." Massive Lawsuit It's an extensive lawsuit in its scope of accusations of monopolistic power. "With its amassed power across both the online superstore market and online marketplace services market, Amazon extracts enormous monopoly rents from everyone within its reach," the FTC s...
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In the U.S., One Strike Ends As Another Grows Bigger
25Sep By Patti MohrNo Comments
Domestic Politics, Types of News: Analysis, United States

In the U.S., One Strike Ends As Another Grows Bigger

Auto Strike Has Political And Economic Consequences Auto workers strike outside Ford plant in Michigan. September 25, 2023—As one major labor union strike in the United States ends, another one is getting bigger. U.S. politicians gearing up for the 2024 election are taking notice. Both strikes are taking place as industries undergo technological change. For writers, the issues relate to the gig economy and artificial intelligence. The auto workers, meanwhile, are trying to secure a future in the industry as it undergoes a global transformation to electric vehicles. While the writers' strike affected the entertainment economy and America's viewing pleasure, the autoworkers' strike has the potential to impact the broader U.S. economy. Hollywood Writers Strike First, an end ...
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Fed Keeps Rate At 5.25
22Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Bit

Fed Keeps Rate At 5.25

Fed Chair Says Consumer Credit Market Is Normal September 22, 2023—The Federal Reserve kept its main rate, the Federal Funds Rate, unchanged on Wednesday at 5.25 percent. Fed Chair Jerome Powell said there was unanimous support among board members for keeping rates steady. He predicted one more rate hike before the end of the year then declining rates beginning next year. "Now we're fairly close, we think, to where we need to get. It's just a question of reaching theright stance," he said at a press conference on Wednesday. Specifically, Powell estimated the federal funds rate would reach 5.6 percent by the end of the year, come down to 5.1 percent in 2024, then further decline to 3.9 percent in 2025. The rate impacts mortgages, consumer credit as well as interest the governm...
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U.S. And China Establish Economic ‘Working Groups’
22Sep By Patti MohrNo Comments
Global Economics, Globalization, Global Disintegration, Types of News: Bit

U.S. And China Establish Economic ‘Working Groups’

Deputy Treasury Secretary Adeyemo Likely To Lead Talks For U.S. Interests September 22, 2023—The United States and China are establishing "structured channels for frank and substantive discussions on economic and financial policy matters," according to the U.S. Treasury Department. The department released a statement today saying it is establishing working groups with China's Ministry of Finance and the People's Bank of China to exchange information on a regular basis. The communication channels follow a series of diplomatic meetings between the two countries, the largest economies in the world. Deputy Treasury Secretary Wally Adeyemo is likely to lead both working groups for the United States. For China, the talks will take place at the vice minister level.
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Oil Prices Jump As Saudi Arabia And Russia Make Output Deal
19Sep By Patti MohrNo Comments
Energy Policy, Oil & Gas, Geopolitics, Types of News: Brief

Oil Prices Jump As Saudi Arabia And Russia Make Output Deal

Photo by Johannes Havn on Pexels.com The Decision Indirectly Impacts Inflation, Interest Rates, And Russia's Brutal Assault On Ukraine September 19, 2023—As oil prices prop up inflation and the Russian war economy, policy decisions impacting oil are significant. So it matters when two of the world's largest oil-producing countries make a deal to restrict output to push up prices. The two countries are Saudi Arabia and Russia. As oil prices continue to rise so does the scrutiny of Saudi Arabia's decision to side with Russia. The Price of Oil This story starts with a look at the cost. The price of oil rose in August and again in September to $92 a barrel WTI (U.S.) and $95 a barrel Brent (British). On average, oil output from OPEC countries also jumped month-on-month by 6 perc...
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Big Banks See Slower Growth In China
13Sep By Patti MohrNo Comments
Global Economics, Types of News: Bit

Big Banks See Slower Growth In China

September 13, 2023— China is estimating its economic growth to average 5 percent this year. However, even that modest forecast might be rosy. Six international banks, including JP Morgan, Barclays, and UBS, have downgraded their economic forecasts for China in light of the country's falling exports and persistent problems in the real estate sector, according to reporting by the South China Morning Post. Estimates for annual GDP from financial institutions range from 4.2 percent to 4.8 percent. SCMP's Ralph Jennings suggests China's economic problems could have global ripple effects for businesses, particularly for developing countries that rely on trade with China. The news comes at a time when economists are warning about stability in the global economy.
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U.S. Inflation Inches Up To 3.7 Percent
13Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Bit

U.S. Inflation Inches Up To 3.7 Percent

September 13, 2023—Consumer prices in the United States increased to an annual rate of 3.7 percent in August, up from 3.2 percent in July. Driving the CPI index higher was a spike in energy costs. Gasoline prices spiked by 10.5 percent from July to August while the cost of other fuels rose by 9.1 percent. Even so, energy prices decreased over the last year by 3.6 percent over the previous year. Meanwhile, food prices rose by only 0.2 percent in August and 4.3 percent over the past 12 months. The cost of used cars and trucks dipped while new vehicles cost slightly more. Observers expect the U.S. Federal Reserve to leave interest rates as they are when board members meet September 19-20. For specifics, see the Bureau of Labor Statistics release.
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