The huge shot of “Summer Work Travel” labor arrives each year to fill seasonal jobs in holiday resorts, hotels, and harvests, and it allows companies to reduce the recruitment of young Americans for seasonal jobs. The program is run by State Department officials, and is justified as an international cultural exchange which will benefit America. […]
Finance
Latest News
Multinational Business Roundtable Now Claims “Social Responsibility” More Important Than Profit…
CTH suspected this was going to happen. This was predictable if you have followed the fracture between Main Street (Trump) and Wall Street (multinationals). Remember, there are trillions at stake. This news today is part of the battle. Here’s the cut through the BS motive behind the multinational association of Business Roundtable CEO’s (these are […]
Sunday Talks: Peter Navarro -vs- Jake Tapper…
White House Trade and Manufacturing Policy Advisor Peter Navarro appears on CNN to debate economic policy with Jake Tapper. As customary Tapper attempts to use the Multinational Big AG talking points to identify farmers as victims ♦ The yield on the benchmark 10-year Treasury note dropped to 1.623% Wednesday for less than one hour; momentarily […]
Related
U.S. Container Ports Report Surprising Growth Despite Tariffs…
Despite the escalating US/China trade war, the ten biggest US container ports posted a surprisingly robust 2.7% year-on-year import throughput growth in July, for a cumulative 1,865,645 teu. However, analyst John D McCown, of consultancy Blue Alpha Capital, still believes that the impact of tariffs on Chinese imports “will become dramatically more pronounced”. The better-than-expected […]
Nails It – Economic Analyst El-Erian: The Era of “De-Globalization” is Here…
Finally an economic analyst gets prime-time media pundits to listen as he describes the fundamental difference between the U.S. “Economy” (Main Street) and the U.S. “Markets” (Wall Street). Charles Payne understands most of this, but El-Erian has it nailed. Allianz Group chief economic advisor, Mohamed El-Erian, accurately describes what is happening in an era where […]
The Student Debt You Willingly Took On Is Not My Problem to Solve…
Of all the pandering showcased during Democrats’ attempts to win back the presidency, wiping out student debt ranked at or near the top. “I believe that education is the future for this country,” socialist Sen. Bernie Sanders barked during the first round of Democratic primary debates, explaining that’s why we must “eliminate student debt and […]
Should This Be Illegal – Banks Recommending a Stock to the Public Then Secretly Trading It in Their Own Dark Pool?…
The Dow Jones Industrial Average rallied 99.97 points yesterday but the mega Wall Street bank, Citigroup, closed in the red, down 0.15 percent. That decline follows a dramatic loss of 5.28 percent on Wednesday, a day that the Dow was down only 3.05 percent. Citigroup’s closing price yesterday was $61.32. The stock has lost more […]
Economic Gaslighting: The Corporate Media Screeching Recession – the Battle Behind Wall Street-v-Main Street…
A “negative yield curve“; a pending “economic recession“. These are the obtuse and ridiculous proclamations of the Mainstream Corporate Media today. So let’s take a moment to discuss how stunningly -intentionally- disconnected they are. Always remember, there are trillions of dollars at stake; and these media entities have a vested interest in maintaining the Wall […]
Here’s the Real Reason Why U.S. Home Prices Haven’t Been Smashed…
In a recent column, I focused on five key factors which indicate that housing markets may be topping out. Yet one other important factor may be the main reason why housing prices have not already deflated. Investors have always played an important role in housing markets. I have written extensively about the crazy bubble years […]
Job Fair After ICE Raids: Here’s Who Showed Up for Koch Foods Plant Job…
On Monday morning, the parking lot at the WIN Job Center here was full. About 25 to 30 people showed up to apply for jobs at Koch Foods’ nearby poultry processing plant. Of those, about an equal number were black, white or Latino. “This is what you’d normally see here,” said Dianne Bell, communications director […]
Trade and Manufacturing Advisor Peter Navarro Discusses “Next Step” Chinese Trade Tariffs…
White House trade and manufacturing policy advisor Peter Navarro appears on Fox News to discuss the status of the U.S-China trade negotiations and the reason for a USTR delay on some product tariffs. Peter Navarro confirms what we noted from the office of USTR Robert Lighthizer yesterday. On December 15th “the tariffs will go on.” […]
Markets Wake Up to a Dicey Global Economy Outlook; Dow Plunges…
If you are long stocks, this is one of those mornings when you may be tempted to pull the covers over your head and take a mental health day away from financial news. As of 8:44 a.m. this morning, Dow futures were registering a plunge of 394 points; the big Wall Street bank stocks were […]
Stocks Rally as U.S. Delays Tariffs on Key Chinese Imports…
U.S. stocks, especially shares of tech companies, and bond yields rallied Tuesday after the White House said tariffs on key Chinese imports would be delayed. Early in the day’s session, equities turned positive on a report that China’s commerce secretary agreed to conduct a phone call in two weeks with U.S. Trade Representative (USTR) Robert […]
U.S. Budget Gap Widens 27% in First 10 Months of Fiscal Year…
The U.S. budget gap widened further in July as federal spending outpaced revenue collection, bringing the deficit to $867 billion so far this fiscal year, a 27% increase from the same period a year earlier. The Treasury Department said Monday federal receipts rose 3% from October through July, totaling $2.9 trillion, while outlays climbed 8%, […]
Tiny-Home Craze Spreads to Amazon…
Tiny homes are popular with millennials since their standard of living has collapsed. All thanks to insurmountable student loans, no savings, and gig-economy jobs that don’t pay the bills. Wzhgroup, a Chinese builder of container homes, has recently become a merchant on Amazon where they can ship a tiny, expandable container home within 3 to […]
‘It’s Crazy’: Chase Bank Forgiving All Debt Owed by Its Canadian Credit Card Customers…
Finally, a good-news story about credit card debt. U.S.-based Chase Bank is forgiving all outstanding debt owed by users of its two Canadian credit cards: the Amazon.ca Rewards Visa and the Marriott Rewards Premier Visa. The bank retired both cards last year and said it’s wiping out cardholders’ debt to complete its exit from the […]
Florida Raking in Billions as Americans Abandon High-Tax States…
State governments can benefit greatly from an influx of movers – enjoying everything from increased tax revenues to new business activity. Recently, changes to the U.S. tax code have encouraged an increasing number of people to move – taking their cash to lower-tax states like Florida. As it turns out, however, Florida has been banking […]
Malaysia Indicts 17 of the “Untouchables” at Goldman Sachs…
When it comes to serial and systemic frauds perpetrated by big banks on Wall Street, the U.S. Department of Justice typically punts. It will either not charge the bank itself or it will issue a felony charge along with a non-prosecution agreement that lets the bank settle the charges without a trial. These tactics by […]
Gold: $1500…
Gold prices on Wednesday jumped above an important psychological level at $1,500 amid a round of easy-money policies that helped to stoke fresh appetite for the perceived safety of precious metals. The 10-year U.S. Treasury note’s TMUBMUSD10Y, -4.93% fall to new lows not seen since 2016 below 1.7%, also helped to drive demand for bullion. […]
U.S. Financial System Rests on 5 Mega Banks; and They Tanked Yesterday…
By the closing bell of yesterday’s broad stock market selloff, the Dow Jones Industrial Average, which had been down over 900 points in the afternoon, closed with a loss of 767 points or 2.90 percent. The Standard and Poor’s 500 Index closed even deeper in the red with a loss of 2.98 percent. But those […]