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Trump Says Walmart Will Slash Ground Beef Prices In "Huge Deal" For Consumers
President Trump said retail giant Walmart will slash prices on a range of products at his administration's request, including a 15% reduction in ground beef prices. The move comes on top of falling gasoline and diesel pump prices as the administration intensifies its affordability push and makes it clear that capitalists, not socialists, will solve the cost-of-living crisis.
"Walmart will, in particular, be dropping the price for a pound of ground beef by almost 15%, among many other products. This is a huge deal for the many millions of Americans who, smartly, shop at Walmart, which is truly patriotic," Trump wrote on Truth Social.
Trump continued, "My Administration is lowering prices that Joe Biden incompetently raised with the worst inflation crisis in history, a total disaster along with the Southern Border, the botched withdrawal from Afghanistan, and many other failures."
Ground beef prices have skyrocketed in recent years, reaching a national average just below $7 per pound, according to USDA data.
Prices have jumped from roughly $4 to nearly $7 over the last six years as a shrinking U.S. cattle herd tightened supplies, turning beef prices and the broader supermarket bill into politically charged topics for both Democrats and Republicans.
President Trump is attempting to solve the affordability crisis through normal market forces, including finding additional supplies wherever possible to lower energy and food prices. The administration has already shown a playbook for curbing food inflation, such as finding new supplies to bring down egg prices.
Socialists, meanwhile, have no serious medium- or long-term supply-side fix. Their answer is usually government-run grocery stores, price controls, or the seizure of production under the fantasy that food can simply be made free for everyone.
But without solving the underlying supply problem, those socialist policies only create shortages, rationing, and empty shelves - the same failed economic model seen in Cuba and other socialist hellholes.
The Trump administration is likely to remain hyperfocused on affordability through the summer and into the midterms, as it seeks to show voters that market-based capitalism, not government intervention or socialist experiments, is the best path to lowering prices and easing household financial pressure.
Another source of the Biden-Harris regime's inflation was right in front of us the entire time: the millions of illegal aliens the previous administration allowed to invade the country. This was detailed in a new Federal Reserve Bank of Dallas report, which found that the influx of illegals contributed to a 30% increase in home prices and a 20% rise in rents over the period from 2021 to 2024.
Ramping up deportations may be one path towards achieving affordability.
Want lower grocery store prices?
Deport 20 million illegals.
Want lower mortgage rates?
Deport 20 million illegals.
Want lower health and car insurance?
Deport 20 million illegals.
Want safer streets and communities?
Deport 20 million illegals.
Make sense yet?
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NorCal Couple Scammed Of $18,000 From Fake Checks And Online Payments
A retired Northern California couple is speaking out after scammers allegedly drained nearly $18,000 from their checking account through a combination of counterfeit checks and unauthorized online payments, setting off a weeks-long battle to recover their money, according to ABC 7.
The couple first realized something was wrong after stopping at an ATM and noticing that their account balance was far lower than expected. A review of their bank records uncovered three checks they say they never wrote, along with 17 electronic transactions they did not authorize. The fake checks totaled more than $6,500, while the online payments added another roughly $11,400 in losses.
According to the couple, many of the payments were directed to accounts with Verizon, Capital One, and Wells Fargo that had no connection to them.
The report says that they immediately reported the fraud to Chase and closed the compromised checking account. The bank quickly reimbursed the counterfeit checks, but the dispute over the electronic payments proved much more difficult. The couple says they were initially asked to provide documentation showing they did not own the recipient accounts, a process that became frustrating because the other financial institutions could not discuss accounts belonging to other customers.
After filing a report with the local sheriff's office, they were informed their fraud claim had been denied due to insufficient evidence.
The case eventually drew the attention of a local consumer advocacy news team, which contacted Chase on the couple's behalf. After reviewing the matter again, the bank reversed course and refunded the remaining disputed funds, stating that it was able to credit the full amount after receiving the appropriate documentation.
Although the exact source of the breach remains unclear, the couple believes the fraud may have originated after they ordered new checks from a third-party printing company that required them to mail in a voided check. They suspect someone obtained their account and routing numbers during that process and used the information to produce counterfeit checks and submit fraudulent bill payments. The incident highlights how easily criminals can exploit the banking information printed on a paper check if it falls into the wrong hands.
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UAE Crude Output Nears Record High Following OPEC Exit Amid Surge In Chinese Buying
The United Arab Emirates raised its crude output to near record highs above 3.8 million barrels per day in June, after the Gulf nation quit OPEC to escape production caps, Reuters reported citing two sources familiar with production data said on Monday. Bloomberg data showed even higher UAE exports, rising to 3.94mmb/d, just shy of the record hit in late 2025.
June's output was the highest since April 2020, according to Reuters estimates, exceeding levels seen before the Iran war and providing an early vindication of the UAE's decision to leave OPEC and OPEC+ on May 1 to free production from quota restrictions.
The UAE told OPEC it pumped 2.11 million bpd of crude in May at the height of the conflict shut-ins, down from about 3.40 million bpd in February. The International Energy Agency, however, assessed a much higher production level for both months, seeing May output at 2.8 million bpd and February at 3.64 million.
Underscoring the supply surge, Abu Dhabi National Oil Company (ADNOC) has been selling crude through tenders at discounted prices, traders told Reuters. The rebound has outpaced that of other Gulf producers, many of whom have restored exports through the Strait of Hormuz but remain well below pre-conflict production levels.
Abu Dhabi has argued that years of investment in production capacity justified greater freedom to produce oil, with Energy Minister Suhail al-Mazrouei saying at the time of the OPEC exit that the UAE owed it to investors to supply what global markets required "without restrictions".
The jump in output comes as oil markets have shifted from concerns over severe supply disruptions during the Iran war, to worries about surplus supply. Brent crude, which hit a four-year high above $126 in late April, was trading at about $72 a barrel on Monday, around levels seen before the outbreak of the Iran war in late February.
Other Gulf nations also saw a surge in output: combined crude and condensate exports from Saudi Arabia, the UAE, Kuwait, Iraq and Iran rose by more than 3.5 million bpd from May to 10.07 million bpd, Kpler data shows. Vortexa, another cargo analytics company, estimated June flows at 10.2 million bpd, up from 7 million bpd in May but still way short of the 16.5 million bpd a year earlier.
Saudi crude exports averaged 4.32 million bpd in June, according to Vortexa data, around 3 million bpd below February levels.
Kuwaiti output rose to 1.65 million bpd in June, roughly triple May levels but still nearly 1 million bpd short of pre-conflict production.
Iraq, OPEC's second-largest producer, exported about 780,000 bpd in June, roughly one-fifth of volumes shipped before the conflict, Vortexa data showed.
Since the June 17 agreement between the U.S. and Iran to halt the conflict and restore shipping through the Strait of Hormuz, the backlog of crude stranded in the Gulf cleared more quickly, leaving about 23 million barrels still to transit the waterway, said Kpler analyst Johannes Rauball.
Meanwhile, in a curious twist, Sparta senior oil market analyst June Goh said that Chinese teapot refineries have emerged as buyers in Adnoc’s latest oil tender, drawn by wider discounts amid a short-term glut. Adnoc sold about 18 million barrels of crude via in fifth tender for loading through August; Upper Zakum was the main grade sold, while some Das also changed hands.
The observation in this tender is that the Chinese teapots are now out buying, whereas in previous tenders they were not even in the buyer list, indicating that the current discounts are now at a level that competes with Iranian and Russian alternatives.
According to Sparta, the current ‘mini-glut’ reflects mismatch of prompt availability vs usual trading window two months ahead, where Mideast barrels should now be trading for September loading instead. However, unless Asian buyers pile up to refill empty SPRs, these extra barrels will need to first fill up commercial storage and then relieve the pressure in arbitrage trades to the West.
It wasn't just China: California is also buying UAE oil - some cargoes of Adnoc grades moved to US buyers via private negotiations, with likely destinations to US West Coast refineries.
Brent-Dubai EFS doesn’t necessarily need to widen that much more because diving crude differentials are doing most of the heavy lifting to keep the arbs open into northwest Europe
Tyler Durden Mon, 07/06/2026 - 20:55