The problem is the White House used 0.25 as the elasticity of import prices. Per the research paper the USTR cited in the tariff determination, the elasticity is actually closer to 1, or 0.945 to be precise. The AEI authors say the White House may have used the elasticity of retail prices instead of import prices. read more
A Florida man has been arrested after he shot and killed his girlfriend while she slept in bed with their three children, deputies say. The man then allegedly attempted to stage the murder as a home invasion. Authorities say Saun Rainge and his accomplice, Benjamin Garmon, now both face a first-degree murder charge for the death of 30-year-old Porshe Nikita Shanee' Streeter.
US stocks opened sharply lower Friday after China retaliated against the United States for President Donald Trump's tariffs in a tit-for-tat that escalates a global trade war. The Dow fell 1,000 points, or 2.5%, and the broader S&P 500 was 2.6% lower. The tech-heavy Nasdaq was 3% lower and flirting with bear-market territory " a decline of 20% from its peak in December. read more
Tesla sales plunged 13% in the first three months of this year, the largest drop in deliveries in its history, as backlash against CEO Elon Musk and growing competition took a large bite out of demand for its EVs. Tesla reported Wednesday that it delivered 336,681 cars in the quarter, 50,000 fewer vehicles compared to the first three months of last year. The results were the company's worst sales in nearly three years. Tesla has faced protests outside its showrooms from those opposed to the actions of Musk in one of his other roles as the head of the Department of Government Efficiency, and the policies of Donald Trump's presidential administration. There have also been instances of vandalism against Tesla facilities, including its charging stations, as well as some cars. All these incidents may have discouraged some potential Tesla buyers from going ahead with their purchases. read more
Automotive repossessions reportedly jumped last year to the highest level in 15 years. The last time car repossessions were at this level was in 2009, when the country was dealing with the fallout from the previous year's financial crisis, the report added. As Bloomberg notes, these numbers are another sign that Americans are having trouble staying on top of their monthly bills due to steep interest rates and higher car prices. The number of subprime borrowers who were at least 60 days late on their loans climbed to 6.56% in January, the most on record, Bloomberg added, citing Fitch Ratings. Meanwhile, purchasing a car has become more costly, with Cox data showing that the average vehicle loan rate rose by five basis points to 10.16% in February, the highest in four months, with the average monthly car payment coming to $748. read more
It's just bullshit trolling. He's a fucking retard.