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EV market is in imploding, when the Gov forces a product on the people that do not want it, it fails, another EV manufacturer goes bankrupt. Biden is going to use the SPR to lower rates, which in turn will slow inflation, not reverse it. This will be used to make the argument of a rate cut before the election. The [DS]/D's have lost their base and they are losing more of it each and everyday. Soon as we approach war and the economy crashes they will lose the rest. The D's are going to try to stop this, they have a secret plan to take out Biden and replace him with another. The D's know they cannot win with Biden, they will use the illegals and their cheating systems, this will not work, the elections are safeguarded but not the way everyone thinks.

 

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Economy

EV Start-Up Files For Bankruptcy One Year After Rolling Out Its First Model

Fisker filed for Chapter 11 bankruptcy on Tuesday after trying and failing to secure more investment to stay afloat, the company announced. The company once attracted robust interest and hype, marketing itself as the Apple of vehicles, but it struggled to run as a public company and was stuck with thousands of EVs that it did not sell, according to The Wall Street Journal.

Fisker raised about $1 billion from various investors, but it ran through most of its cash before defaulting on a debt payment to one of its leading investors, according to the WSJ. The company saw key executives head for the exits as it struggled to roll out its first model, the Ocean SUV, which was plagued by complaints about quality, including problems with the brakes.

Source: dailycaller.com

Pizza Hut Closes 15 Locations Amid Major Franchisee Dispute — 129 More at Risk of Closing

A significant number of Pizza Hut restaurants face closure due to an ongoing financial dispute with one of its major franchisees.

As reported by Daily Mail, a total of 150 restaurants are set to close, with an additional 129 across Illinois, Georgia, South Carolina, and Wisconsin on the brink of shutting down as part of the dispute.

The closure wave began unexpectedly in Northwest Indiana, where several Pizza Hut outlets ceased operations. Signs on the doors read “location closed” or “We apologize for any inconvenience. We are temporarily closed,” NWI.com first reported.

The root of the issue lies in the contractual disagreements and financial strain between Pizza Hut and Texas-based EYM Group, which operates multiple restaurant brands nationwide.

According to court records, the franchisee defaulted on its payments to Pizza Hut, failing to pay 3 million owed in late 2022 and 2.6 million owed in 2023. EYM Group has been seeking to sell its Pizza Hut restaurants, citing inflation, labor costs, a lack of innovation, and other factors as contributing to its financial struggles.

Source: thegatewaypundit.com

US retail sales come in below expectations in May

US retail sales came in below expectations for a second straight month in May as gas station revenues fell sharply, the government said Tuesday, while the data for April was revised lower.

The report suggests consumers are spending less than expected, a good sign for the Federal Reserve as it continues its fight to bring elevated inflation down to its long-term target of two percent by keeping interest rates higher.

Source: breitbart.com

 

https://twitter.com/RichAStern/status/1803075802944168298

Joe Biden to Deplete Oil Reserves to Artificially Lower Ga...