Amazon, the country’s second-largest employer, has so far remained immune to any attempts by U.S. workers to form a union. With rumblings of employee organization at Whole Foods—which Amazon bought for $13.7 billion last year—a 45-minute union-busting training video produced by the company was sent to Team Leaders of the grocery chain last week, according […]
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Meet the Whistleblower Who Exposed a Record-Breaking $200B Money Laundering Scheme…
Exactly one week after a Danish law firm published a 70+ page report claiming that roughly 200 billion euros ($235 billion) – nearly all of the money flowing through Danske Bank’s Estonia branch – qualified as suspect, a Danish newspaper has finally revealed the name of the whistleblower who set in motion one of the […]
Musk Settles with the SEC: Will Resign as Tesla Chairman for 3 Years, Pay $20MM Fine, Stay as CEO…
Just one day after the SEC sued Elon Musk for securities fraud, in a move that shocked many who were skeptical the US regulator would do anything more than slap a few wrists – an action which it took only after it emerged that Musk had turned down a settlement offer from the SEC in […]
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Joint U.S-Canada Statement on Trade Agreement – USMCA…
“Today, Canada and the United States reached an agreement, alongside Mexico, on a new, modernized trade agreement for the 21st Century: the United States-Mexico-Canada Agreement (USMCA). USMCA will give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region. It […]
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The Fed Hikes Rates For The 8th Time, Ends “Accommodative” Era…
The Fed’s eight rate-hike since 2015 was perhaps the most anticipated yet, and Jay Powell did not let investors down, delivering the 25bps hike everyone expected. And so it was – but all eyes were on the dot plots and the language changes in the statement. As Bloomberg noted, Fed policy makers face two important […]
Central Planning Failed in the USSR, But Central Banks Have Revived It…
The Federal Reserve’s changing of the guard — the end of Janet Yellen’s tenure and the beginning of the Jerome Powell era — has me remembering what it was like to grow up in the former Soviet Union. Back then, our local grocery store had two types of sugar: The cheap one was priced at […]
Tesla Snared in Justice Department Criminal Probe…
The U.S. Department of Justice has launched a criminal investigation into Tesla Motors CEO Elon Musk’s tweet indicating he would take the company private after the stock price reached a certain level, according to a Bloomberg report on Tuesday. Federal authorities in the Northern District of California are looking at a tweet by Musk in […]
China Retaliates After US Imposes New $200 Billion Tariffs…
The latest US salvo against China has escalated the threat of a trade war between the world’s two largest economies. China has responded by announcing countermeasures affecting up to $60 billion worth of US exports. The United States has announced fresh tariffs on $200 billion (€171 billion) worth of Chinese goods, spooking markets worried about […]
President Trump and USTR Lighthizer Announce Round #2 Tariffs on $200 Billion of Chinese Imports – Full List Pdf…
President Trump has instructed U.S. Trade Representative Robert Lighthizer to execute Round Two of tariffs on Chinese imports. The first round applied to $50 billion in products. The current round applies a 10% tariff to $200 billion (effective Sept. 24, 2018), until January 1st, 2019, when the tariff increases to 25%. The list of products […]
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STUDY: Legal Marijuana Access Disrupts the Illicit Market…
Another study has found that people really prefer to buy their marijuana from legal sources, even if it is somewhat more expensive than illicit alternatives. A behavioral economics analysis published in the journal Addiction offers more evidence that legalizing and regulating cannabis sales can “disrupt and potentially reduce illegal purchases.” The idea that people would […]
Illegal Immigrants Cited in Theft of 39 Million Social Security Numbers…
Nearly 40 million Social Security numbers have been stolen and used by illegal immigrants and others to get work, according to agency records obtained by an immigration reform group. The Immigration Reform Law Institute said that from 2012 to 2016 there were “39 million instances where names and Social Security numbers on W-2 tax forms […]
Middle-Class Income Rose Above $61k for the First Time…
Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday. The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than […]
Report: Canada Comfortable Resisting Trump by Intentionally Missing Trade Negotiation Timeline…
According to a CBC article citing a “Senior Canadian Official”, the Trudeau government is completely “comfortable” missing an October 1st deadline to join the U.S-Mexico trade alliance: …”The source who spoke to CBC News on background, due to the sensitivity of the talks, said the external political pressure “is not a good enough reason,” for […]
U.S. Offer of New China Trade Talks Should Be Taken Seriously…
The U.S. decision this week to invite Chinese trade negotiators back for another round of talks could prove to be just another failed effort on the road to an escalating trade war. But more likely, it will instead be the start of a months-long — indeed perhaps years-long — effort to find a new accommodation […]
Ten Years After the Crash, We’ve Learned Nothing by Matt Taibbi…
Ten years ago, on Saturday, September 13th, 2008, the world was about to end. The New York Federal Reserve was a zoo. Imagine NASA headquarters on the day a giant asteroid careens into the atmosphere. That was the New York Fed: all hands on deck, peak human panic. The crowd included future Treasury Secretary Timothy […]
A Top Goldman Banker Raised Ethics Concerns. Then He Was Gone…
By the tight-lipped standards of Goldman Sachs, the phone call from one of the firm’s most senior investment bankers was explosive. James C. Katzman, a Goldman partner and the leader of its West Coast mergers-and-acquisitions practice, dialed the bank’s whistle-blower hotline in 2014 to complain about what he regarded as a range of unethical practices, […]
Bernanke, Geithner, Paulson: The Fed Should Be Able to Make Secret Trillion Dollar Loans Again…
There seems to be a growing amount of concern these days about another epic financial crash on Wall Street. That, in itself, is a concern. After all, we’ve had only two great crashes in the past 89 years: one from 1929 to 1933 and one from 2008 to 2009. Why is another crash on the […]
A Decade After the Financial Meltdown, the SEC Still Hasn’t Passed Executive Compensation Rules…
Almost everyone got on board the reform train after the 2008 financial crisis. However, big business, and in particular the biggest banks, slammed the brakes on reforms that threatened to separate senior executives from their money that critics said incentivized excessive risk taking before the crisis. Almost all of the mandatory provisions of the law […]
Trump: Doubling of China Trade Tariffs ‘Ready to Go’…
President Trump said Friday that he has another $267 billion in tariffs ready to slap on China, calling his testy relationship with that nation “a far bigger problem” than dealing with Russia right now. The president, speaking to reporters aboard Air Force Once, said he’s in the middle of reshaping America’s trade policy on a […]
Trump Prepares Tariffs on Another $267B of Chinese Goods…
President Trump is preparing additional tariffs on $267 billion worth of Chinese imports, a move that will inflame fears that his dispute with Chinese leadership will devolve into a trade war. Trump said aboard Air Force One Friday that he is ready to dramatically ramp up the China tariffs. “There is another $267 billion ready […]
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