Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk The inflation data released this week came in stronger than expected. Neither the Producer Price Index nor the Consumer Price Index pointed to inflation running too high. Year-over-year price gains in core CPI, which excludes food and energy, amounted to just 1.6%. Core PPI is up just 0.1% for the year. So no matter how you cut it, price gains are still well below the Fed’s target of 2% annual inflation. But the monthly gains were strong, 0.6% for both the CPI and PPI. That indicates the massive fiscal expansion the Trump administration deployed to fight the pandemic induced economic contraction that boosted demand – and worked more effectively than economists expected. It’s no wonder Trump’s decision to overcome gridlock by unilaterally extending some of the economic support, including enhanced unemployment benefits and a deferral of payroll taxes, is so popular. One recent poll had the executive orders at 55% approval and just 27% disapproval. The public sees that the Trump administration’s efforts have worked and wants them to continue – even if that means going around Congress. It remains to be seen if Trump's orders will go far enough. It seems extremely unlikely that other programs – such as the Paycheck Protection Program’s small business loans or the $1,200 stimulus checks – will be renewed. Those require legislation, which appears to be off the table, at least for now. Perhaps a partially reopened U.S. private sector will be strong enough to take the handoff from the federal government. But that will likely depend on the path of the virus and how far the reopening is allowed to go. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Consumer Prices Jump Higher, Double Expectations]( U.S. consumer prices jumped higher in July as the economy absorbed massive fiscal stimulus aimed at cushioning the pandemic’s blow on jobs and output. The Labor Department said the Consumer Price Index – which measures what consumers pay for items from groceries, to appliances, to airline tickets, to medical services – moved 0.6 percent higher for the second consecutive month, doubling the 0.3 percent forecast by economists. [[Click here for more]( Recommended Link [An Urgent Message From a Wall Street Insider: “Any Moment Now, an Announcement From a Wall Street Billionaire Could Send Some Stocks Soaring”]( [ad_img]( "A well-known Wall Street billionaire is guaranteed – yes, GUARANTEED – to make a major announcement very, very soon… And when he does, it’s set to send some stocks skyrocketing. If you want the chance to get in on these stocks BEFORE the announcement goes 'live', you need to act now. I recorded [a video]( from my home to tell you everything you need to know." – Jason Bodner [Details here]( - IN OTHER STORIES… [Fact Check: Joe Biden’s False Claim Trump Promised to Defund Social Security]( CLAIM: “Donald Trump said that if he’s re-elected, he’ll defund Social Security.” VERDICT: FALSE. Trump has never made any such statement. What he did say is that he wanted to make payroll tax cuts permanent if he was re-elected. Payroll taxes, deducted from employees and employers, are the chief mechanism through which Social Security is funded. They are also controversial, since they act as a tax on work and hiring, and hit the poorest Americans. [[Click here for more]( [Trump’s Popularity With Women Business Owners Dropped During Lockdown and Has Not Recovered]( President Donald Trump’s job approval rating among men and women who own small businesses took a big hit at the height of the pandemic lockdowns. He has won back a lot of approval among men, but women remain far more split when it comes to approving of the president. [[Click here for more]( [Facebook Faces Fresh Lawsuit over Instagram’s Use of Biometric Data]( A lawsuit filed against Facebook in California this week claims that the company’s Instagram platform is unlawfully harvesting biometric data from its users. The lawsuit claims that Instagram is intentionally stealing facial recognition data from more than 100 million users without their consent. [[Click here for more]( [Uber Claims It Faces Temp Shutdown in California After Ruling That Drivers Are Employees]( Uber claims it may have to temporarily shut down in California after a judge ruled earlier this week that Uber and Lyft must classify their gig drivers as employees. “If the court doesn’t reconsider, then in California, it’s hard to believe we’ll be able to switch our model to full-time employment quickly,” Uber CEO Dara Khosrowshahi said in an interview Wednesday on MSNBC. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Big Round Numbers]( In the last week, there were two important points where investors paused to ask what’s next… [[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. 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