This is embarrassing and scary. Yesterday, Trump said that he spoke with Indian PM Modi and that India will stop buying Russian oil. Today, Indian gov says that the two leaders did NOT speak (and obviously no promises were made regarding oil purchases).
https://redd.it/1o85no3
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https://redd.it/1o85no3
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Trump’s Big Brag About The Economy Crushed By Brutal New Poll
https://newzsquare.com/trumps-big-brag-about-the-economy-crushed-by-brutal-new-poll/
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https://newzsquare.com/trumps-big-brag-about-the-economy-crushed-by-brutal-new-poll/
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NewzSquare.Com
Trump’s Big Brag About The Economy Crushed By Brutal New Poll
Donald Trump has spent months boasting about an economic turnaround. “Prices are ‘WAY DOWN’ in the USA,” he wrote in August. He promised to kill inflation “on
Average new car prices just topped $50,000 for the first time
New data from KBB shows that the price for a new car has topped $50,000 for the first time ever. That brings the average monthly payment to $749 per month.
"Erin Keating, an executive analyst at Cox Automotive, the world's largest automotive services provider, said that the higher prices of new cars are being driven by low loan rates, tariffs and electric cars.
"Today's auto market is being driven by wealthier households who have access to capital, good loan rates and are propping up the higher end of the market," Keating said.
"Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory," she added."
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New data from KBB shows that the price for a new car has topped $50,000 for the first time ever. That brings the average monthly payment to $749 per month.
"Erin Keating, an executive analyst at Cox Automotive, the world's largest automotive services provider, said that the higher prices of new cars are being driven by low loan rates, tariffs and electric cars.
"Today's auto market is being driven by wealthier households who have access to capital, good loan rates and are propping up the higher end of the market," Keating said.
"Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory," she added."
https://redd.it/1o88tnm
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ABC News
1 in 4 new car owners owe more than their vehicle is worth, data shows
New data published Wednesday shows that car debt has reached record levels, and a growing number of car owners owe more on their vehicles than they are worth.
Trump is really fkng the economy up real good rn with all of these tarrifs and sht
What the fck is up with trump. These tarrifs are doing more harm than good. The recent tarrifs implemented on china made crypto crash. I own tons of crypto so I really did feel the crash. Ngl, I lowkey now regret voting for trump. If he really wanted to do "America first policy", make people's lives easier first not fckd up. Instead of pouring all those billions to Israel, why not stop and spend it here on infrastructure and stuff instead.
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What the fck is up with trump. These tarrifs are doing more harm than good. The recent tarrifs implemented on china made crypto crash. I own tons of crypto so I really did feel the crash. Ngl, I lowkey now regret voting for trump. If he really wanted to do "America first policy", make people's lives easier first not fckd up. Instead of pouring all those billions to Israel, why not stop and spend it here on infrastructure and stuff instead.
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Reddit
From the economy community on Reddit
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Tariff costs to companies this year to hit $1.2 trillion, with consumers taking most of the hit, S&P says
https://www.cnbc.com/2025/10/16/tariff-costs-to-companies-this-year-to-hit-1point2-trillion-with-consumers-taking-most-of-the-hit-sp-says.html
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https://www.cnbc.com/2025/10/16/tariff-costs-to-companies-this-year-to-hit-1point2-trillion-with-consumers-taking-most-of-the-hit-sp-says.html
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CNBC
Tariff costs to companies this year to hit $1.2 trillion, with consumers taking most of the hit, S&P says
The firm said its estimate of additional expenses for companies is probably conservative.
California to become first state to sell cheap insulin through state-backed program
https://ktla.com/news/california/california-to-become-first-state-to-sell-cheap-insulin-through-state-backed-program/
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https://ktla.com/news/california/california-to-become-first-state-to-sell-cheap-insulin-through-state-backed-program/
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KTLA 5
California to become first state to sell cheap insulin through state-backed program
California will begin offering its own brand of low-cost insulin in 2026, becoming the first state to contract for and sell an affordable version of the drug to residents, Gov. Gavin Newsom announc…
Trump's Plot To Weaponize The IRS Against Democrats Is Revealed In Bombshell Report
https://www.elhayat-life.com/2025/10/16/trumps-plot-to-weaponize-the-irs-against-democrats-is-revealed-in-bombshell-report/
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https://www.elhayat-life.com/2025/10/16/trumps-plot-to-weaponize-the-irs-against-democrats-is-revealed-in-bombshell-report/
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Breaking News
Trump's Plot To Weaponize The IRS Against Democrats Is Revealed In Bombshell Report
The Trump administration is restructuring the Internal Revenue Service's (IRS) Criminal Investigations Unit to better target left-wing groups and donors,
Argentines Dump the Peso, Betting US Rescue Is Doomed to Fail
https://www.bloomberg.com/news/articles/2025-10-16/argentines-dump-the-peso-betting-us-rescue-is-doomed-to-fail?srnd=homepage-americas
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https://www.bloomberg.com/news/articles/2025-10-16/argentines-dump-the-peso-betting-us-rescue-is-doomed-to-fail?srnd=homepage-americas
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Bloomberg.com
Argentines Dump the Peso, Betting US Rescue Is Doomed to Fail
Argentines are convinced that even a flood of cash from the US won’t be able to stop another painful devaluation of the peso.
K-shaped economy: Why the wealthy are thriving as most Americans fall behind
https://www.pbs.org/newshour/show/k-shaped-economy-why-the-wealthy-are-thriving-as-most-americans-fall-behind
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https://www.pbs.org/newshour/show/k-shaped-economy-why-the-wealthy-are-thriving-as-most-americans-fall-behind
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PBS News
K-shaped economy: Why the wealthy are thriving as most Americans fall behind
The markets have climbed higher despite continuing concerns around the shutdown, tariffs and inflation. The S&P 500 and Nasdaq have set records more than 30 times this year and other data suggest the economy is chugging at a steady clip. But for the majority…
Gold ripping again tonight. It’s a complete loss of confidence in fiat currencies.
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Am I crazy or Donald Trump is a chimp and China doesn't really want to deal with a chimp?
Given how ludicrous and unreasonable his demands are, ignoring them is the most logical response. It's like a chimp nuking another country and then demanding it to hand over territory in exchange of nothing. I have no idea what the fuck they're expecting. If I were China, I would just stop exporting any rare earth and let the U.S. collapse while building out my nuclear arsenal.
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Given how ludicrous and unreasonable his demands are, ignoring them is the most logical response. It's like a chimp nuking another country and then demanding it to hand over territory in exchange of nothing. I have no idea what the fuck they're expecting. If I were China, I would just stop exporting any rare earth and let the U.S. collapse while building out my nuclear arsenal.
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Reddit
From the economy community on Reddit
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US banks tap Fed repo facility as overnight rates climb, signalling funding strain
https://theedgemalaysia.com/node/774330
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https://theedgemalaysia.com/node/774330
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The Edge Malaysia
US banks tap Fed repo facility as overnight rates climb, signalling funding strain
US banks borrowed US$6.5 billion (RM27.48 billion) from the Federal Reserve's Standing Repo Facility (SRF) on Wednesday, central bank data showed, and repurchase rates rose, suggesting tightness in meeting funding obligations with a large net Treasuries settlement…
US says India halves Russian oil imports, sources say no cuts seen
https://www.reuters.com/business/energy/india-already-cutting-russian-oil-imports-by-50-after-us-talks-white-house-2025-10-16/
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https://www.reuters.com/business/energy/india-already-cutting-russian-oil-imports-by-50-after-us-talks-white-house-2025-10-16/
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Reuters
US says India halves Russian oil imports, sources say no cuts seen
India has halved its purchases of Russian oil, a White House official said, but Indian sources said no immediate reduction had been seen, as President Donald Trump's administration presses New Delhi and other nations to buy less Russian crude.
75% of Americans report soaring prices as Trump claims inflation ‘over’
https://www.theguardian.com/business/2025/oct/16/inflation-economic-pessimism-poll
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https://www.theguardian.com/business/2025/oct/16/inflation-economic-pessimism-poll
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the Guardian
75% of Americans report soaring prices as Trump claims inflation ‘over’
Exclusive poll: Inflation remains a concern despite president’s pledge to reduce prices on ‘day one’
Small businesses are being crushed by Trump's tariffs and economists say it's a warning for the economy
https://www.cnbc.com/2025/10/17/how-much-trump-tariffs-are-costing-small-businesses.html
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https://www.cnbc.com/2025/10/17/how-much-trump-tariffs-are-costing-small-businesses.html
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CNBC
Small businesses are being crushed by Trump's tariffs, and economists say it's a warning for the economy
Small businesses are struggling under President Trump's global trade war, with some warning they may have to close their companies if consumer demand falls.
It's not an overstatement when I say *this* was the defining issue of the 2024 election and it's basically disappeared from the news.
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Donald Trump tariffs' impact: 55 percent of costs on US consumers - So Far
https://thehill.com/business/5553384-trump-tariffs-consumer-costs-goldman-sachs/?email
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https://thehill.com/business/5553384-trump-tariffs-consumer-costs-goldman-sachs/?email
https://redd.it/1o90m8t
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The Hill
US consumers shouldering 55 percent of Trump tariff costs: Goldman Sachs
A new Goldman Sachs analysis says American consumers will shoulder 55 percent of the costs from President Trump’s tariffs this year. American businesses and foreign exporters will take on 22 percen…
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“Eating is the hardest part”
TEXAS folks tell Fox grocery prices are WAY UP, not down like the billionaire president (who has never been inside a grocery store himself) would have you believe.
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TEXAS folks tell Fox grocery prices are WAY UP, not down like the billionaire president (who has never been inside a grocery store himself) would have you believe.
https://redd.it/1o93zhm
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Nestle announces plans to slash 16,000 jobs, stock jumps 9%
https://www.cnbc.com/2025/10/16/nestle-3q-earnings-announces-16000-job-cuts.html
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https://www.cnbc.com/2025/10/16/nestle-3q-earnings-announces-16000-job-cuts.html
https://redd.it/1o9636f
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CNBC
Nestle announces plans to slash 16,000 jobs, stock jumps 9%
Nestle said Thursday it will cut 16,000 jobs as the firm's new CEO Philipp Navratil looks to accelerate a turnaround at the consumer goods giant.