Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk The economic news continues to paint a picture of an economy steaming into the recovery with a lot more velocity than expected. Financial media headlines reported unimpressive industrial production numbers, but weak production by utilities and drilling dragged these down, unsurprising given the crash in energy prices. Manufacturing production actually jumped higher than expected in May, with autos leading the way. Production of business equipment advanced, a promising sign for the broader economy. Housing prices also rose by more than expected. Renters have kept paying rent at normal levels, defying predictions for large shortfalls. Retail sales blew the doors off expectations, suggesting consumers are eager to get back into stores to buy things like clothes, furniture, and appliances. Fed Chairman Jerome Powell appeared to throw some cold water on the enthusiasm that sent the Dow up 1,000 points on the open today. Testifying before the Senate banking committee, he stressed how much uncertainty remains about the future path of the economy. Keep in mind that Powell is walking a very narrow line himself. If he sounds too sanguine, he could spook markets into thinking the Fed is blind to the obvious economic pain in the country. If he sounds too dire, that could spook people into thinking the Fed sees some hidden danger everyone else has missed. In any case, Powell is certainly correct that the future path of the economy remains highly uncertain. But the economic data is telling us that the path we took in May did not lead deeper into the valley of recession. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image]( [Shock: Nearly 9 in 10 Apartment Dwellers Paid Rent in May]( The rental apocalypse never happened. When the coronavirus pandemic struck and much of the economy was shut down, there were many grim forecasts that Americans would not be able to make rent payments. In late March, The New York Times warned that 40 percent of renters in the U.S. might not pay rent in April. [[Click here for more]( IN OTHER STORIES… [U.S. Manufacturing Rebound Was Better Than Expected in May]( Manufacturing staged a comeback in the United States in May, according to data released by the Federal Reserve Tuesday. Factory output rose by 3.8 percent, slightly higher than economists were expecting. Most major industries posted increases, the Fed said, with the largest gain registered by motor vehicles and parts. [[Click here for more]( [Retail Sales Soar 17.7% in the Biggest Monthly Jump Ever]( Retail sales jumped higher in May as consumers returned to stores as coronavirus lockdowns were lifted across the United States. Retail sales surged 17.7 percent compared with the prior month, according to Commerce Department data released Tuesday, easily beating expectations for an 8 percent gain. [[Click here for more]( [Tech Pioneer: Google and Facebook Are ‘Choking’ the Web]( Basecamp co-founder and CTO David Heinemeier Hansson, who created the popular “Ruby on Rails” web application framework, discussed the state of the modern internet in a recent interview, stating that a handful of companies like Google and Facebook have “colonized the web, and they’re choking it.” [[Click here for more]( [Amazon Will Monitor Warehouse Workers with AI ‘Distance Assistants’]( Amazon is deploying AI known as “distance assistants,” which will warn the company’s warehouse workers if they get too close to their co-workers as the company continues its battle against the Chinese virus. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Why We Should Protect What Is “Intellectually” Ours]( A court case out of Taiwan highlights the problems with the global supply chain… [[Click here for more]( [“It’s the Economy, Stupid”… Will History Repeat Itself?]( What does all this economic turbulence mean for the 2020 election? [[Click here for more]( [Maganomics]( Maganomics Institute 55 NE 5th Ave, Delray Beach, FL 33484 [www.maganomics.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Maganomics welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-415-6046, Mon–Fri, 9am–7pm ET, or email us [here](mailto:memberservices@maganomics.com). © 2020 Signal to Noise, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Signal to Noise, LLC. [Privacy Policy]( | [Terms of Use](