Anna's Daybreak News

TGIF news friends! We're here to crack open the biggest stories, serve up the most interesting tidbits, and keep you informed in a flash 📰🌟

• Second quarter US consumer spending weakens to 0.8%, significantly lower than the 1.7% advance previously reported.


• Services outlays stand out as the key detractor, growing at a much slower annualized pace.


• GDP report shows no change, remaining at the 2.1% recorded in the second estimate.


• The US economy is veering towards a dead-end - a U-turn so slow that you may not even realize it's happening!
Source: Read More

• Former President Donald Trump is courting the United Auto Workers’ endorsement in a rare move for the Republican party.


• Trump is using this as a platform to attack President Joe Biden’s support for electric vehicle manufacturing.


• It is the first time a sitting president has rallied with striking union workers.


• The UAW endorsed Biden in 2020 and has been critical of Trump's "billionaire" status.


• Trump's attempt to win the favor of union workers is a sign of the modern GOP's growing desire to play to the working class—but it remains to be seen if it will be successful.
Source: Read More

• Billionaire chairman of beleaguered developer China Evergrande Group placed under police control


• Authorities notified Evergrande that Hui has been subject to “mandatory measures”


• Evergrande's shares remain halted until further notice


• Despite the murky origin of the crimes, one thing is certain: Hui Ka Yan is a living enigma, with questions about the incident unanswered, and more yet to come.
Source: Read More

• President Xi Jinping vowed to step up efforts to meet the country’s annual economic and social development targets.


• China will boost macroeconomic controls and expand domestic demand to improve the economy.


• The announcement was made at the National Day reception held at the Great Hall of People in Beijing.


• The point here is that if China decides to push the gas in the money printing game in order to boost its economy, then there is no chance of a recession happening in the US
Source : Read More

Baked with love,

Anna Eisenberg ❤️