Yesterday’s Top Stories From the Breitbart News Desk

[Maganomics Daily]( Yesterday’s Top Stories From the Breitbart News Desk The Federal Reserve announced a major policy shift in August, saying that would allow inflation to run hotter than normal in order to boost the labor market and broader economy. That was supposed to translate into inflation running "moderately" above the official target of 2%. This morning, the Labor Department gave the economy's answer: Go soak yourself. Labor's Consumer Price Index came in with a reading of zero for October, meaning the price level was unchanged from the month before. That's a slowdown in price gains since September's 0.2% and August's 0.4%. In other words, inflation has been falling ever since the Fed announced its policy to let it run above target. It will not do any good to strip out volatile categories like food and energy. Even without those, core inflation also registered a zero reading in October. This is all the more extraordinary because it comes in the face of huge increases in the money supply and the federal budget deficit. Never mind those still in-effect tariffs we were told would put pressure on prices and squeeze consumers. Monetarists and Keynesians, freshwater and saltwater economists, come out of this looking all wet. Prices appear to have a very different relationship to macroeconomic aggregates than is commonly believed. [Banks Preparing for Major Devaluation of the U.S. Dollar]( Of course, some prices are going up. Last month, we learned that used car prices had jumped 6.7% in a single month and were a staggering 11.5% above last year's level. Buying pressure had moved on from new cars, which had become hard to find due to high demand and a lockdown-induced supply shortage, to used cars. In October, the demand for cars washed into car rentals, where prices rose a staggering 7.4% in a single month. The stock market seemed to take a breather from the vaccine enthusiasm rally. A bit of realism about the vaccine may be setting in. Even if it works and is safe—which still has not been confirmed—only 25 million doses are expected by the end of the year. Since each person needs two doses, just 12.5 million people will be vaccinated. That may be able to take care of the 4.5 million or so teachers, plus a big swath of health care workers and the 700,000 or so police officers in the U.S. But it will not go much further than that. What's more, one of Joe Biden's top pandemic advisers is talking about using the accumulated savings of Americans during the pandemic to fund a new four-to-six-week shutdown—a risk the market continues to ignore. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image]( [Carney: The Rental Car Business Is Suddenly and Unexpectedly Booming]( For rental car companies, the weeks leading up to Halloween are typically a quieter time. The summer driving season has faded and holiday rentals are weeks away. This year was different, according to data released on Thursday by the Department of Labor. Labor’s Consumer Price Index for car and truck rentals showed prices jumped 7.4 percent in October, a month in which overall inflation was non-existent. The “all items” index did not rise at all in October and the core inflation gauge, which excludes volatile fuel and goods categories, came in as unchanged also. [[Click here for more]( Recommended Link [This Tiny Piece of Tech Could Destroy China’s Entire Economy…]( [image]( The U.S. military, Google, Amazon, and Apple… have all joined forces to develop the most advanced “weapon” in history. And it’s aimed straight at China. This modern-day “Manhattan Project” is worth a potential $15 trillion… And one small company’s tech makes the whole thing go. [Click here to find out all the details]( -- IN OTHER STORIES… [Trump Administration Reaches Vaccine Agreement with Drug Stores]( Trump administration officials have reached an agreement with pharmacies across the U.S. to distribute free coronavirus vaccines after they are approved and become available to the public. The goal eventually is to make getting a COVID-19 vaccine like getting a flu shot. [[Click here for more]( [Chicago Mayor Lori Lightfoot Issues Stay-at-Home Advisory, Asks Residents to Cancel Thanksgiving Plans]( Chicago Mayor Lori Lightfoot (D) on Thursday issued a stay-at-home advisory and called on residents to cancel their “traditional” Thanksgiving plans as part of an effort to combat the spread of coronavirus. [[Click here for more]( [Biden COVID Advisory Board Member: “First and Foremost” Action to Protect Yourself Is “Don’t Be in Crowds”]( On Wednesday’s “CNN Tonight,” Biden COVID-19 Advisory Board member Dr. Michael Osterholm stated that among the things that people can do to protect themselves, “First and foremost is just distancing. Don’t be in crowds, don’t be in large gatherings, whether you wear a mask or not. Because masks are very helpful. They can surely reduce the risk, but the bottom line message is, you want to distance yourself.” [[Click here for more]( [Fauci: Vaccine Will Be Here in December—“Help Is Really on the Way”]( In a Thursday appearance on ABC News’ “Good Morning America,” White House Coronavirus Task Force member Dr. Anthony Fauci emphasized that a coronavirus vaccine will “start being implemented and deployed in December.” [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [The Most Overused Word in This Election]( During the 2020 election, many Americans alleged that fascism had arrived to the U.S. But they misunderstood the ideology, used the term incorrectly and, therefore, missed the bigger picture. [[Click here for more]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. 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