Saying the quiet part out loud
#Trump tells NBC he “couldn't care less” if #car makers hike #prices due to #tariffs
Trump has been preparing to impose new tariffs on a range of #consumer goods on April 2, a move that has drawn criticism from international leaders & concerns about potential price increases for #consumers.
#economy #Trumpcession
https://www.reuters.com/world/us/trump-tells-nbc-he-couldnt-care-less-if-car-makers-hike-prices-due-tariffs-2025-03-30/
#Consumer sentiment worsens as #inflation fears grow, University of Michigan survey shows
It was the 3rd consecutive decrease & stretched across party lines & income groups, survey dir Joanne Hsu said.
…In addition to worries about the current state of affairs, the survey's index of consumer expectations tumbled to 52.6, down 17.8% from 1 month ago & 32% for the same period in 2024.
#Trump #economy #tariffs #jobs #insecurity #trumpcession #recession
https://www.cnbc.com/2025/03/28/consumer-sentiment-worsens-as-inflation-fears-grow-university-of-michigan-survey-shows.html
I thought they were trying to save money 
Under #Trump, the #Consumer #FinancialProtection Bureau #CFPB has dropped nearly a dozen enforcement cases brought during the #Biden admin, ending lawsuits against #banks & #lenders for a variety of financial practices that the #watchdog agency no longer considers #illegal.
But on Wed, the bureau went a step further: It is seeking to GIVE BACK $105k that a #mortgage lender paid to settle #racial #discrimination claims….
#law
https://www.nytimes.com/2025/03/26/business/cfpb-repay-mortgage-lawsuit.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=6A5655B4-A7D4-4098-AED1-2847DA87EEB0
Fend for Yourself: Under Trump, Consumer Protection Bureau’s Probes of Big Tech and Finance Firms Freeze Up
—
Companies may avoid consequences for alleged wrongdoing as the Consumer Financial Protection Bureau drops lawsuits against Capital One and Rocket Homes and pauses investigations into Meta and others — including providers of medical credit cards.
More Loblaw employees to wear body cameras across Canada, company says
More Loblaw employees across the country will be wearing body cameras as the company is expanding its pilot project to more provinces.
#Retail #Technology #Employee #Safety #Canada #Consumer
https://globalnews.ca/news/11096704/loblaw-body-cameras-locations/
China’s tariffs on Canada are in place. What are they targeting?
China has imposed a 100 per cent levy on Canadian canola oil and meal, as well as peas, plus a 25 per cent duty on seafood and pork, all of which began Thursday.
#trade #politics #tariff #economy #Canada #Consumer
https://globalnews.ca/news/11090746/china-tariffs-canada-canola-pork-seafood-economy/
‘I feel utter anger’: From Canada to Europe, a movement to boycott US goods is spreading globally
The “#TargetFast” coincides w/ #Lent & is the latest #consumer action against one of the largest retail companies in the country. Since #Target announced that it would roll back some #DEI efforts, including plans to hire from underrepresented groups, consumer #boycotts & demonstrations have sprung up across the country. Many occurred during #Black History Month, & on Feb 28, consumers participated in a 24hr“economic blackout” of major corporate chains.
“HOW TO TURN AN ‘ECONOMIC BLACKOUT’ INTO AN ALL-OUT WAR ON CORPORATE POWER”
by Jonah Valdez in The Intercept @theintercept
“Friday’s economic boycott is a one-day attack on corporate interests. The degrowth movement calls for a broader societal shift”
https://theintercept.com/2025/02/28/no-buy-nothing-corporation-boycott-capitalism-degrowth/
The dismissed cases “underscore why the #CFPB’s work is so essential to investigate practices that are draining hard-earned #money from the pockets of everyday people,” Lauren Saunders, assoc dir of the Natl Consumer #Law Center, said….
The CFPB’s #consumer-complaint system is already suffering. #Senate #Banking Cmte #Democrats released a report Tues that found an 80% drop in the processing of consumer complaints in the first weeks of the #Trump admin.
#Musk #economy #regulation #kleptocracy
But on Thurs, the #Trump #CFPB dropped several complaints against financial institutions, including the ones for #CapitalOne & #RocketHomes.
“We welcome the CFPB’s decision to dismiss this action, which we strongly disputed,” a spokesperson for Capital One said in an emailed statement.
In a statement, Rocket Homes said: “This case was a misrepresentation of the facts, as we have said from the day the suit was filed.”
When harmed, the average #consumer often doesn’t have the #money to defend themself. Hiring an attorney is expensive. Rooting out deceptive predatory practices should be left to the #government, not a family trying to make ends meet.
Remember the Great #Recession?
#Trump & #ElonMusk are working to decimate the Consumer Financial #Protection Bureau [#CFPB].
In early Feb, Musk posted “CFPB RIP,” …with a gravestone emoji.
Musk’s death march has begun. The number of #consumer complaints being processed by the bureau is significantly down, & several lawsuits against #financial companies were recently dropped.
#law #economy #regulation #banks #credit #loans #mortgages #foreclosures #debt #housing #markets #DOGE #USpol
https://www.washingtonpost.com/business/2025/02/28/trump-cfpb-enforcement/
#Trump #Funding freezes & #firings of #FederalWorkers combined w/the prospect of costly #trade wars are souring #consumer sentiment, raising #inflation expectations & stalling #business #investment plans, acc/to recent economic surveys.
Local economies are also bracing for a sudden withdrawal of fiscal support, forcing ofcls to contemplate #tax increases or municipal bond offerings to stabilize their budgets.
#Consumer & #business sentiment is wobbling as fiscal support fades & fears rise that #tariffs will lead to higher #prices.
The US #economy is starting to show signs of strain as #Trump’s *abrupt* [random, unreasonable, illogical] moves to shrink federal spending, lay off #FederalWorkers & impose tariffs on America’s largest trading partners rattle businesses & reverberate across states & cities.
#Funding #firings #trade #inflation #chaos #uncertainty #DOGE #Musk #USpol
https://www.nytimes.com/2025/02/27/business/trump-tariffs-spending-cuts-economy.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=27AA0996-3858-421E-B5CD-6EA1BF469CB0
Gen Z four times more likely to hold risky crypto than a 401(K) account https://www.byteseu.com/776381/ #consumer #ConsumerFinance #Crypto #CryptoCurrency #dailymail #yourmoney
#Trump announces ‘reciprocal’ #tariffs
But a new regime of different #taxes for each country could prove a bureaucratic nightmare & increase costs for Americans, analysts said.
“Reciprocity may sound appealing. But remember who pays tariffs: It’s the American importer & the burden eventually falls on the #consumer,” said Erica York, Tax Foundation VP of fed tax policy. “It’s like shooting yourselves in the foot because someone else is shooting themselves in the foot.”
https://www.washingtonpost.com/business/2025/02/13/trump-reciprocal-tariffs/
