Anna's Daybreak News

_{Just facts, you think for yourself}

Thursday, 5:32 AM

November 28, 2024

Good morning and Happy Thanksgiving news friend! Track the stories shaping the present, staying in step with a world that never stands still. 📰🌟

Inflation Stalls Amid Economic Growth

Consumer prices rose by 2.3% in October, up from 2.1% in September, according to the Commerce Department. Core prices, excluding food and energy, increased by 2.8%, rising from 2.7% the previous month.

The US economy expanded at a 2.8% annual rate from July to September, supported by robust consumer spending that accelerated to a 3.5%. Exports also surged at a 7.5% rate.

Gas costs fell to a nationwide average of $3.07 per gallon. Used car prices jumped 2.8% from September but are still down 5% annually. Airfares and hotel prices also saw increases.

Lastly, consumers' income grew by 0.6% in October, while spending increased by 0.4%.

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DOGE’s Moves to Slash Federal Spending

Elon Musk and Vivek Ramaswamy aim to reduce federal spending by $2 trillion. They recently included the Consumer Financial Protection Bureau (CFPB) in their list of targeted agencies.

Proposed cuts include:

- Pentagon: Ramaswamy criticized the nearly $1 trillion budget, claiming $125 billion is wasted on bureaucracy.

- Department of Education: Ramaswamy anticipates mass reductions and possible elimination of the department.

- Corporation for Public Broadcasting: They target the $535 million annual budget for PBS and NPR.

- Planned Parenthood: They plan to cut almost $300 million in federal funding.

- International organizations: They seek to eliminate $1.5 billion in grants.

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Microsoft’s Antitrust Investigation

The Federal Trade Commission (FTC) opened an antitrust investigation into Microsoft, examining its cloud computing, software licensing, and artificial intelligence products.

The inquiry targets Microsoft's bundling practices in its Azure cloud service and its influence in the AI market.

The FTC's investigation follows competitor complaints about Microsoft's licensing terms, which allegedly lock customers into its services.

Microsoft has been accused of imposing a 400% markup for using Windows Server on rival cloud platforms.The future of the investigation may shift under the incoming Trump administration.

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US Auto Sales Surge

US auto sales are on track to increase by 6.7% in November compared to last year.

The seasonally adjusted annualized rate for new vehicle sales is projected to reach 16.5 million units, an increase of 1.2 million units from November 2023. Additionally, retail inventory is expected to rise by 29.7% to 2.1 million units.

J.D. Power and GlobalData reported this growth stems from higher discounts aimed at reducing excess inventory. Retailer profit per unit is expected to drop by 21.2% this month.

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Gen Z Drowning in Debt

Gen Z is struggling with rising debt as buy-now-pay-later (BNPL) services gain popularity. Credit Karma reported that credit card balances for Gen Z and millennials have surged by over 50% since March 2022.

This holiday season, shoppers are expected to spend 11.4% more using BNPL, totaling $18.5 billion between Nov. 1 and Dec. 31. Cyber Monday alone is projected to see $993 million in BNPL purchases.

BNPL services appeal to younger consumers because they often require soft credit checks and do not affect credit scores.

Retailers benefit from this trend, seeing customers spend 20% more when BNPL options are available.

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The Hidden Risks of Black Plastic Utensils

A recent study of 200 black plastic kitchen utensils discovered that 43% contained bromine. This indicates the presence of flame retardants.

These chemicals, which are linked to cancer, endocrine disruption, and nervous system damage, can leach into food, especially when heated.

Flame retardants can accumulate in the body over time. The study identified that 85% of the top 20 items tested positive for harmful substances, including decaBDE, a chemical banned in the US in 2021.

The use of recycled electronics in manufacturing likely leads to these contaminants in kitchenware. Experts recommend alternatives like wood and stainless steel utensils. Cooking at high temperatures increases the risk of chemical release.

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“Some people are only funny when they try to be serious.”

Baked with love,

Anna Eisenberg ❤️