International
Every U.S. State Reports Increase in GDP and Incomes
The U.S. Commerce Department’s Bureau of Economic Analysis reported that GDP and personal income increased in almost every U.S. state in the 3rd Quarter, 2024.
The latest data from the report on Gross Domestic Product by State and Personal Income by State, show that real gross domestic product increased in 46 states and the District of Columbia.
The nation’s GDP grew at an annual rate of 3.1 percent in the third quarter and has grown by 12.6% under the Biden-Harris Administration.
In addition, Americans continue to make and spend more.
Incomes increased in 49 states and the District of Columbia, with the biggest increases seen in Alabama, Arkansas, and Mississippi.
Thanks to rising incomes, consumer spending increased by 3.7 percent, in the third quarter, the most since early 2023.
By industry, real GDP increased in 16 of the 23 industry groups, with retail trade and health care as the leading contributors to growth nationally.
Retail trade, which increased in all 50 states and the District of Columbia, was the leading contributor to growth in 39 states.
Earlier this month, the U.S. Labor Department’s Bureau of Labor Statistics reported that the U.S. economy added over 227,000 new jobs in November – exceeding expectations.
A record 16 million jobs have been created under the Biden-Harris Administration
International
Trump says he thinks Putin is helping Iran
“I think he might be helping them a bit, yeah.”“I guess, and he probably thinks we’re helping Ukraine, right?”
President Donald Trump on Friday said he believed that Russian leader Vladimir Putin is helping Iran in its war against the United States and Israel.
According to CNBC, Trump’s comment came in a radio interview with Fox News host Brian Kilmeade, and a week after the president lashed out at Fox News reporter Peter Doocy for asking him at the White House about reports that Russia was aiding Iran.
Kilmeade asked Trump on Friday: “You think Putin is helping them?”
Trump replied, “I think he might be helping them a bit, yeah.”“I guess, and he probably thinks we’re helping Ukraine, right?” Trump continued.
“Yeah, we’re helping them also,” Trump said, referring to Ukraine, which has been at war against Russia since being invaded in early 2022.
“So he [Putin] says that, and China would say the same thing, you know,” Trump told Kilmeade.
“It’s like, ‘Hey, they do it, and we do it, in all fairness,’ ” Trump said. “They do it, and we do it.”
International
IEA agrees to release record 400 million barrels of oil to address Iran war supply disruptions
The IEA did not set out a timeline for when the stocks would hit the market
Merchant ship on fire hits by Iran in Strait of Hormuz.
The International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war, the largest such action in the organization’s history.
The IEA did not set out a timeline for when the stocks would hit the market.
It said that the reserves would be released over a time frame that is appropriate to the circumstances of each of its 32 member countries.
IEA members are primarily advanced economies in Europe, North America and northeast Asia. The organization is tasked with maintaining global energy security.
It was founded in 1974 in response to the oil embargo imposed by Arab producers over U.S. support for Israel during the 1973 Arab-Israeli war.
(CNBC)
International
Iran tells world to get ready for oil at $200 a barrel as it fires on merchant ships
The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global energy markets and transport into chaos.
(REUTERS): Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s.
The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global energy markets and transport into chaos.
Despite what the Pentagon has described as the most intense airstrikes since the start of the war, Iran also fired at Israel and targets across the Middle East on Wednesday, demonstrating it can still fight back.
On Wednesday, three vessels were reported to have been hit in Gulf waters as Iran’s Revolutionary Guards said their forces had fired on ships in the Gulf that had disobeyed their orders.
While Israel’s Defence Minister Israel Katz said the operation “will continue without any time limit, as long as required, until we achieve all objectives and win the campaign,” Trump suggested the campaign would not last much longer.
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International3 days ago
Iran tells world to get ready for oil at $200 a barrel as it fires on merchant ships
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International3 days agoIEA agrees to release record 400 million barrels of oil to address Iran war supply disruptions
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International1 day agoTrump says he thinks Putin is helping Iran