Laura Harris, Natural News – Genesis Wealth Defense https://genesiswealthdefense.com There's a thin line between ringing alarm bells and fearmongering. Sat, 26 Oct 2024 05:39:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://genesiswealthdefense.com/wp-content/uploads/2024/09/cropped-Money-32x32.jpg Laura Harris, Natural News – Genesis Wealth Defense https://genesiswealthdefense.com 32 32 237551656 Rising Costs, Shrinking Consumer Spending and Changing Customer Habits Push More Restaurants Into Bankruptcy https://genesiswealthdefense.com/rising-costs-shrinking-consumer-spending-and-changing-customer-habits-push-more-restaurants-into-bankruptcy/ https://genesiswealthdefense.com/rising-costs-shrinking-consumer-spending-and-changing-customer-habits-push-more-restaurants-into-bankruptcy/#respond Sat, 26 Oct 2024 05:39:44 +0000 https://genesiswealthdefense.com/rising-costs-shrinking-consumer-spending-and-changing-customer-habits-push-more-restaurants-into-bankruptcy/ (Natural News)—At least 10 major restaurant chains have filed for Chapter 11 bankruptcy this year due to rising costs, shrinking consumer spending and the disappearance of pandemic-era financial support.

In August alone, three notable restaurant chains sought bankruptcy protections. Mediterranean fast-casual chain Roti filed on Aug. 23, citing challenges from high operating costs and decreasing foot traffic in downtown areas. Earlier that month, Buca di Beppo and World of Beer also turned to Chapter 11 to restructure their businesses amid rising labor costs and inflationary pressures.

In June, Rubio’s, a fast-casual chain known for its fish tacos, filed for bankruptcy protection, citing the burdens of higher labor costs and dwindling lunchtime crowds due to the popularity of hybrid and remote work patterns cutting into sales. Melt Bar & Grilled, a Cleveland-based grilled cheese chain, also sought Chapter 11 protection after its restaurant count shrank to just four locations. Kuma Holdings, the parent company of burger chain Kuma’s Corner, also filed for bankruptcy protection that same month.

In May, Red Lobster, once a seafood giant, also filed for bankruptcy protection, citing its struggles with high leasing costs, increased competition and poor strategic decisions, like its ill-fated “endless shrimp” promo for $20 that cost the company millions. (Related: BANKRUPTCY BOOM: U.S. saw 70 major bankruptcies in just 4 months, the third worst start of year since 2000.)

In April, Tijuana Flats, a fast-casual Tex-Mex chain, also filed for Chapter 11 bankruptcy. At the time, the Tijuana Flats also announced new ownership under Flatheads LLC and the closure of 11 restaurants as part of its restructuring. Sticky’s Finger Joint, a chicken-tender chain, also declared bankruptcy that same month due to rising costs, lingering effects from the pandemic and legal issues from a trademark dispute with rival Sticky Fingers.

In February, Boxer Ramen, a Portland-based ramen chain, filed for bankruptcy and closed all four of its location by late April after more than a decade in business.

More restaurants and food chains are expected to follow before 2024 ends.

Bankruptcies nearly double in 2024 due to broader economic challenges

According to Jonathan Carson, co-CEO of bankruptcy services and technology firm Stretto, major restaurant companies have been filing for Chapter 11 bankruptcy due to rising labor costs, inflation and shifting consumer behavior. He explained that although these numbers remain lower than the peak of the pandemic, when nearly three dozen major franchises went bankrupt, the current economic environment is still presenting a unique set of challenges.

“In this situation, a challenging economic environment, post-pandemic recovery issues, rising labor costs, changing consumer habits and inflation have caused more restaurants to struggle in 2024,” Carson said in an interview with Fox Business, noting those issues have also impacted other sectors of the economy.

Carson also stated that the shift in consumer spending is a growing concern. With more consumers burdened by student loan debt, mortgage debt and credit card debt, spending patterns have changed. “The numbers are staggering and rising, and high interest rates don’t help when it comes to the health of the consumer,” Carson said. “The consumer is in a rough spot.”

Industry experts expect this trend to continue, with more restaurant chains likely to file for bankruptcy as they navigate an increasingly volatile market.

Watch this video about food conglomerates going bankrupt.

This video is from Thisisjohnwilliams channel on Brighteon.com.

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]]> https://genesiswealthdefense.com/rising-costs-shrinking-consumer-spending-and-changing-customer-habits-push-more-restaurants-into-bankruptcy/feed/ 0 226973 McDonald’s Will Likely Revamp Value Meal as Kamalanomics Continues to Strain the Wallets of Lower-Income Customers https://genesiswealthdefense.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/ https://genesiswealthdefense.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/#respond Wed, 16 Oct 2024 13:25:32 +0000 https://genesiswealthdefense.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/ (Natural News)—McDonald’s Chief Executive Officer Chris Kempczinski has announced that the fast food giant will likely “revamp” its value meal as President Joe Biden’s economic program, also known as “Bidenomics,” continues to strain the wallets of lower-income customers.

In July, McDonald’s reported a decline in same-store sales for the first time in nearly four years, a drop attributed to tightened consumer spending following prolonged periods of high inflation. In response, the fast-food giant introduced a $5 summer deal in June, designed to offer an affordable option for customers struggling amid inflation and high interest rates.

The limited-time meal deal, which includes a choice of a McDouble, McChicken sandwich or a 4-piece Chicken McNuggets, along with a small fry and soft drink, has been well-received by customers. And now that customers continue to grapple with economic strain, McDonald’s extended the offering until December. (Related: Bidenomics: Big Mac extra value meal now costs $10 more than it did during Trump’s era.)

“We’re committed to keeping our prices as affordable as possible,” Joe Erlinger, president of McDonald’s USA, said in September.

McDonald’s is also releasing app-exclusive promotions, including a fried chicken sandwich for $2. Kempczinski is also looking at ways to do a complete “reset” or overhaul of its value offerings, noting that the number of $1, $2 and $3 menu offerings has shrunk in recent years amid rising food and operating costs.

In line with this, Kempczinski also noted that chicken, a food way cheaper than beef, could play a key role in offering more affordable meal options.

“It’s easier to deliver value on chicken products than it is on beef products,” he explained, adding that beef prices are currently more than twice those of chicken on a per-pound basis.

“We’re starting to talk about 2025, and my message to our teams has been: ‘We need to be preparing for another challenging year,'” Kempczinski said. “We need to be making sure that we’ve got a really strong value proposition in all of our markets.”

Harris will continue Bidenomics despite its negative consequences if elected president

In an article for  Zero Hedge, Tyler Durden wrote that economic conditions for low-income consumers are expected to worsen through the end of the year, particularly due to potential increases in energy prices.

“Economic conditions for the working poor will only get more challenging through the end of the year. MCD reports third-quarter earnings on Oct. 29. The lingering problem for consumers is an energy price shock at the pump could materialize if Israel begins bombing Iran’s crude oil export facilities. Consumers need to buckle up,” Durden wrote.

Rep. Randy Weber (R-TX) noted that “Harris would not have changed a damn thing” from the policies of the Biden administration.

“If you think four more years of Harris won’t mean the same high gas prices, inflation, open borders and crime, I’ve got oceanfront property in Oklahoma to sell you! Kamala Harris admitted she wouldn’t change a thing from Biden’s disastrous policies,” Weber posted on X, along with a clip of Harris’ guesting on ABC’s “The View” on Oct. 8.

In other words, there will be no respite for these economic strains if Harris wins in November.

Follow Collapse.news for similar stories. Watch this clip from Fox Business as former U.S. International Trade Commission Chief Peter Morici discusses how President Joe Biden’s management of the American economy has been “a failure.”

This video is from the News Clips channel on Brighteon.com.

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]]> https://genesiswealthdefense.com/mcdonalds-will-likely-revamp-value-meal-as-kamalanomics-continues-to-strain-the-wallets-of-lower-income-customers/feed/ 0 226750 Trump Vows to Implement New Tax Incentives That Would Boost U.S. Auto-Manufacturing Industry https://genesiswealthdefense.com/trump-vows-to-implement-new-tax-incentives-that-would-boost-u-s-auto-manufacturing-industry/ https://genesiswealthdefense.com/trump-vows-to-implement-new-tax-incentives-that-would-boost-u-s-auto-manufacturing-industry/#respond Mon, 14 Oct 2024 05:25:17 +0000 https://genesiswealthdefense.com/trump-vows-to-implement-new-tax-incentives-that-would-boost-u-s-auto-manufacturing-industry/ (Natural News)—Former President Donald Trump has promised a series of new tax incentives that would boost the U.S. auto-manufacturing industry if re-elected in November.

In the gathering of about 500 business leaders at the Detroit Economic Club on Oct. 10, Trump proposed the expansion of research and development credits, increased equipment costs for small businesses and consumer tax deductions on car loan interest to appeal to Michigan voters.

The package of incentives also includes a 100 percent tax write-off for heavy equipment in the first year and full expensing for new manufacturing investments. He also proposed doubling the equipment deduction limit for small businesses from $500,000 to $1 million. Additionally, consumers could deduct car loan interest, similar to deductions on home loan interest.

“This will stimulate massive domestic auto production and make car ownership dramatically more affordable for millions and millions of working American families,” he said, noting that many people in the audience work in the auto industry. (Related: Michigan auto workers blame Biden-Harris EV mandates for industry job cuts.)

Trump also reiterated his commitment to revisiting the U.S.-Mexico-Canada Agreement (USMCA) and promised to address perceived imbalances, particularly the growing trade deficits with Mexico and China upon taking office. The U.S. goods trade deficit with Mexico increased by 23.7 percent ($130.5 billion) in 2022, while the deficit with China rose by 8.3 percent ($382.3 billion) during the same period. The USMCA, signed into law in 2020, replaced the North American Free Trade Agreement (NAFTA).

The former president presented his proposals as a “detailed plan to save the American auto industry.” In turn, he guaranteed voters that his policies would reverse job losses, claiming: “You vote for Trump, and you will see a mass exodus of manufacturing jobs, but from Mexico to Michigan, from Shanghai to Sterling Heights.”

Trump also promises tax cuts to U.S.-based manufacturers and tariff hikes to foreign investors

On Oct. 3, Trump made similar claims about the U.S. auto-manufacturing industry, announcing his plans to encourage manufacturers to produce goods in the United States by lowering corporate tax rate from 21 percent to 15 percent for U.S.-based manufacturers and proposing a 100 percent tariff on imported automobiles. Trump also pledged to cut gasoline prices by 50 percent within one year of taking office by boosting domestic oil production and doubling electricity production, which he believes will further attract manufacturers.

Moreover, Trump pledged to enhance protections for industries essential to national interests, such as steel and automotive sectors by implementing higher tariffs, a measure that Harris has consistently criticized as a tax on the American public.

“I want tariffs, but there has to be reciprocity,” Trump said, meaning an equal trade footing between the United States and other countries. “Without that tariff, every single one of the Detroit Big Three could right now be out of business.”

When asked about Chinese automakers locating plants in Mexico in an attempt to sell electric vehicles in the U.S., Trump said: “I will impose whatever tariffs are required … 100 percent, 200 percent, whatever is necessary.”

Learn the latest news regarding President Donald Trump at Trump.news. Watch as Trump says “there won’t be an auto industry left” if Kamala wins.

This video is from the NewsClips channel on Brighteon.com.

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]]> https://genesiswealthdefense.com/trump-vows-to-implement-new-tax-incentives-that-would-boost-u-s-auto-manufacturing-industry/feed/ 0 226695 Trump’s Support From Union and Working-Class Voters Is the HIGHEST for a Republican Presidential Candidate in Four Decades https://genesiswealthdefense.com/trumps-support-from-union-and-working-class-voters-is-the-highest-for-a-republican-presidential-candidate-in-four-decades/ https://genesiswealthdefense.com/trumps-support-from-union-and-working-class-voters-is-the-highest-for-a-republican-presidential-candidate-in-four-decades/#respond Tue, 08 Oct 2024 15:35:51 +0000 https://genesiswealthdefense.com/trumps-support-from-union-and-working-class-voters-is-the-highest-for-a-republican-presidential-candidate-in-four-decades/ (Natural News)—A recent poll has revealed that former President Donald Trump’s support among working-class Americans and citizens who are part of labor unions is the highest among any Republican presidential candidate in four decades.

According to Harry Enten, a political analyst and host of CNN’s “Margin of Error” podcast, Trump is on track to achieve the best Republican performance among union families, trade school graduates and minority voters without college degrees in 40 years.

Enten stressed the growing appeal of Trump to these traditionally Democratic groups, as Vice President Kamala Harris struggles to maintain a strong lead.

The poll suggests that Harris leads Trump by just nine points among union workers, a sharp decline from previous Democratic performances. For instance, Bill Clinton carried union households by 30 points in 1992 and President Joe Biden won them by 19 points in 2020. Harris’ current margin is much closer to the slim 12-point lead of Hillary Clinton in 2016.

Meanwhile, Trump has been gaining tremendous grounds among trade school graduates compared to his predecessors in the GOP. In 1992, Bill Clinton won this group by seven points. Today, Trump leads Harris by a staggering 31 points, a 38-point swing toward the Republican Party.

“More so perhaps than any other bloc, the folks who go to trade school, vocational school, that has moved from being a core Democratic group to now being a core group of Donald Trump’s massive amount of support among the working class,” Enten said.

The trend extends to working-class minority voters. While Harris still holds a 28-point lead among racial and ethnic minorities without college degrees, this is a significant drop from the 45-point margin Biden enjoyed in 2020.

“This is part of a larger trend that we’re seeing throughout our politics in which Republicans, specifically Donald Trump, is doing very, very well among working-class voters,” Enten said. “The fact is, Donald Trump seems to have gone into a hotbed of traditional Democratic support and made a lot of movement in ways I don’t think a lot of people would have thought when he went down that escalator just back in 2015.”

Teamsters not endorsing a presidential candidate for the first time in two decades

Harris’ struggle to maintain a strong lead among working-class and union voters was made even more evident when the International Brotherhood of Teamsters, one of the largest unions in the United States with over 1.3 million members, refused to endorse a presidential candidate for the first time in over two decades.

The decision came shortly after the union released results from a national poll of its members, which showed 59.6 percent favoring Trump, compared to just 34 percent who supported Harris.

“President Joe Biden won the support of Teamsters voting in straw polls at local unions between April-July prior to his exit from the race,” the union said in September. “But in independent electronic and phone polling from July-September, a majority of voting members twice selected Trump for a possible Teamsters endorsement over Harris. The union’s extensive member polling showed no majority support for Vice President Harris and no universal support among the membership for President Trump.”

“Unfortunately, neither major candidate was able to make serious commitments to our union to ensure the interests of working people are always put before Big Business,” Teamsters General President Sean M. O’Brien said in September. “We sought commitments from both Trump and Harris not to interfere in critical union campaigns or core Teamsters industries – and to honor our members’ right to strike – but were unable to secure those pledges.”

Watch this clip from Fox News discussing how “humiliating” it is for the Democratic Party that the Teamsters won’t endorse Harris.

This video is from the NewsClips channel on Brighteon.com.

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]]> https://genesiswealthdefense.com/trumps-support-from-union-and-working-class-voters-is-the-highest-for-a-republican-presidential-candidate-in-four-decades/feed/ 0 226493