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Biden Cartel Commentary Elections Links from other news sources. The Law

New Georgia election law. The good, bad, and the ugly.

New Georgia election law. The good, bad, and the ugly. Georgia Gov. Brian Kemp has signed an election reform measure. Senate Bill 189, which updates the earlier SB 202, the Election Integrity Act of 2021.

The good. Removes the Secretary of State from the State Election Board and bars local election officials, elections board and Secretary of State employees from securing state contracts specific to voting equipment. It also sets deadlines for submitting absentee ballots, establishes additional ballot chain of custody rules. The expansion of the ability to challenge and potentially remove ineligible voters from the voter rolls.

The bad. Some of the features don’t start till 2025 and 2026.

The ugly. The ACLU of Georgia said it planned a legal challenge. Plus the same old Secretary of State is going to oversee this.

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Biden Cartel Commentary Economy Links from other news sources. Reprints from others.

The good news and bad news about the latest US data on cost of living.

The good news and bad news about the latest US data on cost of living. Housing prices increased 7.2% over the last year, according to the Bureau of Labor Statistics.

The highly anticipated inflation gauge is out. It shows that consumer prices in September rose 0.4% from the previous month, and 3.7% from a year ago, steady from the 3.7% increase posted in August, according to the latest Bureau of Labor Statistics (BLS) data.

The shelter index—mostly composed of rental costs—increased 7.2% over the last year. That accounted for 70% of all price increases minus food and energy, with gasoline also a major contributor to the rising inflation.

The good news

The consensus is this data is unlikely to prompt the Federal Reserve to hike interest rates at its next meeting. In fact, “today’s data supports being close to the end of the hiking cycle as the US economy remains on a disinflation path,” wrote Goldman Sachs Asset Management’s Lindsay Rosner, head of multi-sector fixed income investing, in a note to clients.

The bad news (okay, it’s not that bad)

The two major factors driving September’s inflation were gasoline and housing prices.

Motorists should feel slightly relieved at the pump, with gas prices steadily declining over the last week despite the Israel-Hamas war. The national average price of gasoline as of today (Oct. 12) is $3.65, down from $3.84 from a month ago, according to the American Automobile Association (AAA).

The surprise in September was the big bump in housing costs. But analysts aren’t worried, as they’re already seeing signs elsewhere suggesting that growth in rent prices will moderate.

Pensioners feel the pinch from cost of living

With inflation moderating, Americans receiving Social Security benefits will get a cost-of-living adjustment of 3.2% in 2024, down from the 8.75% boost implemented this year, according to the latest release from the Social Security Administration. But even that hasn’t covered the strain on household budgets. A report from the Seniors Citizen League found 68% of people on Social Security said that household expenses have been 10% higher than the year before, despite cooling inflation.

Meanwhile, over half of the survey respondents were worried Social Security payments will be insufficient to cover their future living costs.

With the increase now set for 2024, pensioners will receive an average of $50 more per month in their Social Security benefits.

The whole article and charts can be found here.