ECONOMICS

Authored by Tom Ozimek via The Epoch Times (emphasis ours),

The all-mighty American consumer, whose spending drives the economy, is reaching a breaking point and is on the verge of folding, according to former Walmart CEO Bill Simon.

Bill Simon, then-president and CEO of Walmart, speaks at an event in Chicago, Ill., on June 14, 2013. (Scott Olson/Getty Images)

Mr. Simon told CNBC in a recent interview that a series of factors—political polarization, inflation, and high interest (more…)

Authored by Andrew Moran via The EPoch Times,

The war between Hamas and Israel is unlikely to spill over into the global economy, Treasury Secretary Janet Yellen told delegates at the annual meetings of the International Monetary Fund (IMF) and World Bank, in Morocco.

Despite the initial volatility in global financial markets on Oct. 9, investors have largely dismissed concerns that the latest conflict in the Middle East will impact the international economy, pricing in various (more…)

Authored by Matthew Smith via OilPrice.com,

• UNODC reports Colombia’s cocaine production hit a record in 2022, nearing the country's oil export earnings.

• Major oil-producing regions, like Putumayo, overlap with high-density coca cultivation zones, fueling conflicts and disrupting oil operations.

• Rampant oil theft from key pipelines, driven by the cocaine trade's demand for gasoline, harms the environment and impacts Colombia’s petroleum production. (more…)