Originally published at: https://peakprosperity.com/daily-digest/doge-disbanded-early-economic-storm-clouds-over-u-s-canada-and-europe/
Economy
In the U.S., fast-food prices have increased, with medium fries at McDonald’s averaging $4.19, up from $1.79 in 2019. Prices for items like cheeseburgers and McNuggets have reportedly risen by more than 200%. These increases are attributed to factors including a U.S. cattle herd at its lowest level in 75 years, which led Tyson Foods to close a beef plant and lay off 3,200 workers. Frozen turkey prices are projected to be 40% higher in 2025 due to lower production levels. A University of Michigan survey found that 44% of middle-income Americans reported worsening financial situations, citing higher prices. Youth unemployment has risen, and economic indicators, such as reduced shipping from Asia, point to slowing activity.
In California, IRS data analyzed by the National Taxpayers Union Foundation indicates the state loses one taxpayer every 1 minute and 44 seconds to lower-tax states like Florida and Texas. This has contributed to a $29 billion decline in taxpayer funds since 2020, which the analysis attributes to high-tax policies driving outflows. However, California’s Governor’s Office has argued that the state’s fiscal challenges are temporary and that investments in public services support long-term growth, despite the migration trends.
In Canada, the housing market experienced declining affordability from 2014 to 2023, as home prices and rents increased faster than median after-tax family incomes in major cities. A 20% down payment on a typical home required 22 months of income by 2023, a 56% increase from 2014. Mortgage payments averaged 56.6% of income, making no city affordable without large down payments or assistance. Rents rose to 23.5% of income, an increase of 3.7 percentage points. Vancouver and Toronto faced the most significant challenges, compared to cities in Quebec and the Prairies. Government officials have pointed to new initiatives, such as funding for affordable housing and developer incentives, as potential steps to improve supply and ease the crisis.
In Europe, Italy’s budget deficit has reached 8.5% of GDP. The government has proposed a one-off tax on undeclared gold holdings, which would require mandatory disclosure and impose a 12.5% levy to raise up to 2 billion euros. Italy’s debt stands at 145% of GDP, exceeding European Union limits, amid rising spending. Some measures to generate revenue have been questioned for potential constitutionality issues. Critics, including Italian economic analysts, have warned that the tax could erode public trust and prompt asset flight abroad, suggesting alternative fiscal approaches.
In Germany, cities are projected to face a collective deficit of €30 billion in 2025. The mayor of Essen has warned of bankruptcy risks for nearly all municipalities. In North Rhine-Westphalia, only 10 of 396 municipalities maintained balanced budgets. Immigration-related costs, including integration, exceed €50 billion annually, while 24.5% of primary school enrollment is non-German, requiring additional funding. Insolvencies increased in October, particularly in construction and hospitality sectors. The number of over-indebted households rose for the first time in six years. That said, officials in cities like Munich and Hamburg have reported effective budget management through strategic planning and federal aid, indicating the crisis may not affect all municipalities uniformly.
US Politics
The Department of Government Efficiency, led by Elon Musk and aimed at reducing waste, was disbanded eight months ahead of schedule, with its functions transferred to the Office of Personnel Management. Established in January 2025, it reported $180 billion in savings by July, including cuts to budgets at agencies like Health and Human Services and Education, along with a hiring freeze that has since been lifted. A Senate bill has codified some of the reductions, and states such as Florida and Idaho are forming local versions, though the original entity no longer operates as a centralized unit. Critics from public service advocates have noted that the cuts may have strained essential services in health and education, raising questions about their long-term sustainability.
Representative Eric Swalwell, in his bid for California governor, has proposed vote-by-phone as a means to modernize access, comparing it to online banking or tax filing, with security safeguards already in use elsewhere. He also suggested fining counties for in-person voting lines exceeding 30 minutes and implementing virtual DMV services to improve efficiency, with the goal of surpassing voting access in other states. Supporters, including tech advocates, argue that such innovations could boost voter turnout and accessibility for underserved groups. Critics have pointed to past issues, such as glitches in the 2020 Iowa caucus app that delayed results, and MIT research on vulnerabilities in the Voatz mobile voting system. The research found that hackers could alter votes despite blockchain security claims, leading some to emphasize the importance of paper ballots for election integrity.
Health
A leaked recording captured Campbell Soup’s vice president and chief information security officer, Martin Bally, describing company products as unhealthy and bioengineered, including 3D-printed meat, and stating they target low-income consumers. The hour-long recording, made by former employee Robert Garza during a salary discussion, also included alleged racist remarks and admissions of arriving at work impaired. Garza filed a lawsuit claiming wrongful termination after reporting the incident, noting no prior discipline and a 10-month job search. Campbell Soup has described the comments as unacceptable if accurate and has launched an investigation. The company has stated that the alleged remarks do not reflect its values and is conducting a thorough review of the matter.
Former Pfizer vice president Dr. Michael Yeadon has stated that no COVID-19 pandemic occurred. He attributes excess deaths to government responses, such as mass ventilation, sedatives in care homes, and the denial of antibiotics, rather than a novel virus. According to data from Dennis Rancourt, all-cause mortality remained stable before the World Health Organization’s declaration. Yeadon has described PCR tests as inappropriate for diagnosing widespread illness and vaccines as intentionally toxic, claiming they were administered to 5.5 billion people under coercion and caused 17 million deaths. He noted that development timelines exceeded feasible records and that early warnings from him were vilified, despite his expertise in respiratory research. Fact-checkers and health authorities, including the World Health Organization, have refuted these claims, citing extensive data on the virus’s spread, vaccine efficacy, and the pandemic’s global impact.
Environment
Discussions on geoengineering have evolved, with government agencies and weather modification companies now publicly acknowledging operations in multiple states. These include cloud seeding activities, which have prompted concerns about transparency and potential effects on regional rainfall, ecosystems, and food systems. In Kerr County, officials provided post-flood assurances that seeding did not cause excessive rain. Such developments have led to calls for greater oversight and consent from communities dependent on predictable weather for livelihoods. Environmental scientists have countered that current geoengineering efforts remain small-scale and are unlikely to significantly alter weather patterns, attributing most changes to greenhouse gas emissions. Relatedly, farmers have reported unpredictable weather patterns disrupting operations. For instance, a late April ice storm occurred amid temperatures in the high 90s, destroying greenhouse crops such as tomatoes and lemons and costing thousands in propane expenses, with no prior warning from forecasts.
Sources
$4 Fries: A Salty Symbol of America’s Shrinking Standard of Living
The Uproar Over 4 Dollar Fries Shows Just How Severely America’s Standard Of Living Has Eroded
Source | Submitted by Rodster
Italy’s Gold Grab: Desperate Taxes Amid Europe’s Economic Spiral
So it seems to be the states and governments of the European Union are so desperate now they even want to come for your private gold.
Source | Submitted by Shplad
Geoengineering’s Shadow: Farmers Question Consent Under Unpredictable Skies
Did the people beneath the sky ever consent?
California’s Taxpayer Tick-Tock: Losing One Every Minute to Low-Tax Havens
California is losing a taxpayer roughly every minute, as states like Florida, Texas, and North Carolina attract new residents due to lower taxes and higher standards of living.
Swalwell’s Vote-by-Phone Vision: Modern Convenience or National Security Nightmare?
Swalwell’s plan for voting by phone could pose an existential threat to election integrity nationwide.
Germany’s Cities on the Brink: Mayor Warns of Nationwide Bankruptcy Crisis
“Almost every German city is now on the verge of bankruptcy.”
DOGE Disbanded: Musk’s Waste-Cutting Agency Fades Eight Months Early
The Department of Government Efficiency, the waste-cutting agency spearheaded by Elon Musk, has been disbanded, with eight months of its mandate remaining.
Ex-Pfizer Exec Yeadon: No COVID Pandemic, Just a Global Lie to Inject Billions with Deadly Substances
There has not been a pandemic
Canada’s Housing Affordability Crisis Deepens: Homes and Rents Surge Past Incomes (2014-2023)
Housing affordability worsened across Canada from 2014 to 2023 as home prices and rents increased faster than median family after-tax incomes.
Campbell Soup Exec’s Leaked Rant: “We Have Shit for Fucking Poor People”
We have shit for fucking poor people.
In addition to sources submitted by community members, the following were also used in the creation of this report: California Governor’s Office, Italian Economic Insights blog, Tagesschau, Financial Stability Watch blog, Minister of Housing, Infrastructure and Communities, Environmental scientist, Tech for Democracy blog, Public Service Advocate blog, World Health Organization, and Campbell Soup.