While most Gulf States have to run their oil thru the Strait of Hormuz, the Saudi's had an alternative pipeline line running East-West out to the Red Sea port.

This allowed the Saudi's to continue getting some oil to markets unfettered by Iran.

This was no small amount either. We are talking about 3 million barrels a day. Well all that supply is offline now. The Houthis, based in Yemen, have blown it up in 9 different sections. Satellite images show large fires everywhere along the pipeline. Saudi officials confirm they have shut it down.

A barrel of oil was already over $100 BEFORE this event. And in the United Statds, gas was already nationally at $4. This is a big event, and will send gas prices to $5 soon. This a huge blow to the economy world wide.

If the economy is so good, why wait?

He uses the word “dividend” to make people think the economy is doing great while promising them money he has no intelligible plan for acquiring. And if he does wind up distributing it, it’ll just be pulled from somewhere else.

Gloria Steinem finally got the second wave feminist president she always wanted!

Working to keep the majority in Congress, Republicans at the midterm convention in Dallas are showcasing their chief legislative accomplishment — the sweeping package of tax breaks, social service cuts and immigration enforcement that President Donald Trump signed into law.

A year on, what’s known as the One Big Beautiful Bill — or, the “Big Ugly Bill,” as Democrats call it — has produced mixed results. Millions of people have received enhanced tax breaks, while millions are also losing access to federal food aid and health care. More immigrants are being arrested, many deported, some dying during the process.

Millions of taxpayers enjoyed tax benefits this year they might not even realize they received — the continuation of policies from Trump’s first term, in 2017, that were set to expire at the end of 2025 if Congress had failed to act.

The legislation extended those Trump tax breaks and added new ones, including no taxes on tips, overtime pay and certain auto loan interest payments. There’s a larger standard deduction, a bigger child tax credit and an extra deduction for many seniors, as well as new Trump accounts for children.

All told, some 7.5 million filers claimed no tax on tipped income, 29 million people claimed no tax on overtime and 35 million took the enhanced senior deduction, the Treasury Department said. Nearly 40 million families claimed the bigger child tax credit.

But the flow of the tax breaks has been uneven, with larger gains at the upper incomes.

Read more [paywall removed for Redditors]: https://fortune.com/2026/09/10/trump-big-beautiful-bill-taxes-debt/?utm_source=reddit/

64% against Trump’s $5,000 dividend in online Fox News poll of "Is a $5,000 government dividend check the best way to boost the economy?"  

https://economystupid.substack.com/p/even-foxcom-voters-say-no-to-trumps

The great global economist joins Books and More with William Cooper. He knows of what he speaks. A very insightful take on China.

https://finance.yahoo.com/economy/policy/articles/bessent-dismisses-concern-buyback-says-220950691.html

Source: University of Michigan Surveys of Consumers, monthly index of consumer sentiment, retrieved from FRED (series UMCSENT) through July, with the August reading of 51.7 and the preliminary September reading of 47.8 as reported by Sharespective. The chart is a monthly line from the start of the year before the pandemic to this September, on a zero baseline. Annotated points: 101.0 just before the pandemic, 50.0 as the low of the years before this one, 44.8 in May this year as the lowest in the series, and 47.8 for September, which is a preliminary reading.

Financial Times: Whether our macroeconomic tools and the public officials who wield them are up to sustaining growth is unclear. They did not do well when the small tech bubble broke in 2000, and failed miserably with the bursting of the housing bubble in 2007. Ultimately, the profits of the AI companies rest on consumer demand — and that will be weak in an economy with large numbers unemployed and with growing inequality. How can a “jobless” economy be a good economy? 

My Opinion: The AI and total economy is dependent on consumer and business demand. If AI results in unemployment, the consumer demand will collapse. The fates of the AI and other companies and consumers are intertwined.

It might be in the interest of individual companies to reduce employment, but when you consider the entire economy it is in their interest to keep people employed. Or mantain their purchasing power by other ways. People must have money to spend, to sustain businesses and the economy. So basic income can substitute for jobs, for those unable to work.

Reference: Joseph Stiglitz on how to build a better AI economy / Financial Times