Chart Bloomberg commodity price index . If we look at the oil price first, Brent crude oil is currently trading below $80 per barrel. Some of the decline is due to selling from speculative investors who may not see further upside potential in the oil price. Speculative investors were net sellers of crude for two straight weeks at the end of July, which added to the downside price pressure.

Democrat presidential nominee Vice President Kamala Harris's economic plan would increase taxes by $5 trillion over ten years, according to Americans for Tax Reform (ATR). Harris's campaign announced an enormous economic package on Monday that would undo former President Donald Trump's tax cuts, claiming it would be part of "a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share." Trump's Tax Cuts and Jobs Act slashed the corporate tax rate from 35 to 21 percent, lowered income tax rates, and doubled the standard deduction.

America's national debt reached a new high of $35 trillion this week around the same time U.politicians threw another $1.7 billion at Ukraine. Russia's ambassador to the United States Anatoly Antonov is speaking out against Washington, D.C., gross mismanagement of taxpayer funds, which will eventually flush the entire nation down the economic drain.