Americans pulled back on their retail spending in July and their confidence in the economy is taking a hit. That's a potentially troubling combination for a consumer-driven economy. Retail sales fell 0.6% in July from the prior month, the Commerce Department said Friday, down from June's 0.2% and marking the steepest drop since May 2025. Those figures are adjusted for seasonal swings but not inflation. A separate report from the University of Michigan showed that consumer sentiment declined about 8% early this month to a preliminary reading of 51, ending a two-month streak of rising sentiment. read more
U.S. President Donald Trump said on Thursday he will impose tariffs on imports of drones and their components, including from some key U.S. allies ... read more
President Donald Trump is asking the Supreme Court to allow him to build a ballroom at the White House, citing previous threats to Trump's life, national security needs and architectural values. The emergency request filed Friday comes after lower courts repeatedly ruled that Trump needed approval from Congress before moving forward with the $400 million project. read more
US Vice President JD Vance outlines Washington's key objectives in the Iran conflict as keeping energy prices stable for Americans, preventing Tehran from acquiring nuclear weapons and securing a stronger US position. US Secretary of Defense Pete Hegseth says that the US can sustain its blockade against Iran "indefinitely".
The reopening of the Strait of Hormuz is becoming more pressing as the International Energy Agency warns that global oil stockpiles are diminishing at a rapid clip. read more
The Splitters are all mailing it in. All they have is "that's wrong!", and "you're stupid!".