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Steve Beaman

Implications of the Vietnamese Fraud Case and the Role of the Metaverse in Future Business Integrity (Guest: Steve Beaman)

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Introduction: In a stunning display of judicial severity, the Vietnamese billionaire Truong My Lan was recently sentenced to death for a fraud that spanned over a decade, involving the misappropriation of $44bn from one of the country’s largest banks. This case, notable not only for its financial scale but also for its rare verdict against a female figure in white-collar crime, underscores the growing global concern over financial integrity within the banking sector. Amidst these … Read more

GOP Concerned About the Inflation Reduction Act Resulting In the Hiring of 87,000 IRS Agents (Guest: Steve Beaman)

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With the Inflation Reduction Act approved in a close 51-50 vote this week, many are waiting to see the effects of the bill. However, the GOP believe that a certain provision on the bill may be of concern. According to the bill, there will be approximately 87,000 IRS agents would be hired, in an effort to find people that were known to cheat on their taxes. While the Democrats cheered on the actions of the … Read more

The Senate Has Passed a New Bill To Cut Back Inflation, But Will It Really Do the Job? (Guest: Steve Beaman)

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In an effort to strike back against growing inflation, the Senate has finally passed a huge bill introduced by the House Democrats. In it, it will provide funds to address climate change, as well as growing health care costs and increasing taxes on large corporations. As a whole, it’s meant to ease the strain of inflation quite a bit. Senate Majority Leader Chuck Schumer proclaimed victory with the passing of the bill, noting, “It’s been … Read more

We’ve Already Seen What Some Businesses Have Done In the Face of Inflation, But What Will Banks Be Doing? (Guest: Steve Beaman)

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2022 has not been a good year to many, mainly due to the rising cost of inflation. Despite best efforts to bring down gas prices, they continue to sit at an all-time high; and housing and food costs aren’t going down either. We’ve already seen what some businesses are trying to do to stay afloat…but where does this leave the banks? This new blog over on IMF kind of gives an indication. Several banks, including the … Read more

The U.S. Economy’s Latest Quarter Still Points At a Recession – and a Possible Return of the Great Depression (Guest: Steve Beaman)

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In spite of President Joe Biden and the Federal Reserve putting forth their best efforts to deflect it, a recession looks all but confirmed for 2023. And it could get even worse. Gross domestic product fell 0.9 percent for the second quarter of 2022, according to the Bureau of Economic Analysis. While that’s not as severe a decline as the 1.6 percent consumers saw in the first quarter, it’s still a decline – and paints … Read more

Market Fluctuations and Fed Rate Hike Moves U.S. Economy Closer To Recession (Guest: Steve Beaman)

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Following a recent report about growth woes in the most recent quarter, there are still many concerns that U.S. citizens will face some form of recession as 2023 looms. The initial report indicated that growth has tumbled nearly a full percentage point, indicating that some companies are expected lose employees and prepare for the worst in terms of a recession. But coupled with other news this week, things are looking problematic. First up, it’s no secret that … Read more

Some of the World’s Biggest Companies Detail Price Increases In the Midst of a Skyrocketing Pandemic (Guest: Steve Beaman)

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Confidence in U.S. consumer businesses has fallen to its lowest point since February 2021 with the news that Unilever, Coca-Cola and McDonald’s issued news about additional increase in pricing above and beyond recent spikes. Unilever, the branding group behind such clients as Dove soap, Hellmann’s mayonnaise and Cif cleaning products, rose an average of 11.2 percent in pricing over the course of the second quarter, with no signs of slowing down. The move tied in … Read more

President Biden Believes the U.S. Is Not Headed Towards a Recession – But the Numbers Say Otherwise (Guest: Steve Beaman)

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As the White House awaits a much-anticipated report that could post a gloomy outlook on growing inflation for the year, President Joe Biden continued to make it clear that the United States isn’t headed for a recession. “We’re not going to be in a recession, in my view,” he explained to reporters on Monday. “The employment rate is still one of the lowest we’ve had in history. It’s in the 3.6 (percent) area. We still … Read more

Walmart Reports Lesser Profit Outlook In the Face of Consumers Spending More On Necessities and Less On Other Items (Guest: Steve Beaman)

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Walmart is considered one of the leading retailers in the United States, with stores practically miles apart from one another. However, it appears that even with its immense reach, the chain is not immune to the effects of inflation. The company recently reported a cut in its quarterly and full-year profit reports, stating that rising inflation is forcing consumers to spend money on important goods and less on fancy electronics and clothing. As a result, … Read more

Dems New Tax Bill Will Crush Small Business (Guest: Steve Beaman)

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Democrat-backed tax hike would fall on more than 62% of America’s small businesses, that’s 8.3 Million Small Businesses nationwide. At a time when our nation’s small businesses are already struggling to bounce back after 2 years of mandates and lockdowns, the democrats swoop in to save the day with a proposed tax increase that would force businesses to pay a whopping $252 Billion dollars in additional taxes. “The idea that our economy can withstand the additional … Read more

Inflation and Other Factors Are Putting a Huge Dent In Restaurant Service – And It’s Not Getting Any Easier (Guest: Steve Beaman)

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The past couple of years have not been easy for the restaurant industry – and judging by the current state of inflation, the road’s only getting tougher. The United States has been at the forefront of a true labor shortage, which has put a large dent in businesses – especially smaller ones. It has forced them to cut back on hours, as well as cutting down their customer service teams and other parts of operations. … Read more

Inflation: Highest in 40 years and Still Rising! Why? (Guest: Steve Beaman)

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Inflation just spiked to a whopping 9.1%, its highest level in 40 years, even after multiple Federal Reserve rate hikes. Gasoline is double of what it was during the Trump Presidency. Housing costs are sky-high for both renters and homeowners. Helping us makes sense of the current financial mess is our guest, Steve Beaman, CEO of Elevare Club, a provider of services to small businesses. Q&A:  The Federal Reserve raised interest rates multiple times with … Read more

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