This column has contended for several years, based on empirical data observations from several countries, that low interest rates worldwide were killing productivity growth. A University of Chicago paper finally provides some academic back-up for this contention and suggests a mechanism through which it takes place. There are other mechanisms also, and I would suggest […]
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Survival of the Richest…
Like a gilded coating that makes the dullest things glitter, today’s thin veneer of political populism covers a grotesque underbelly of growing inequality that’s hiding in plain sight. And this phenomenon of ever more concentrated wealth and power has both Newtonian and Darwinian components to it. In terms of Newton’s first law of motion: those in power […]
WTO Rules in Favor of U.S. in China Farm Subsidies Dispute…
The World Trade Organization (WTO) on Thursday ruled in favor of the U.S. in a long-running dispute over Chinese subsidies for wheat and rice farms, according to multiple reports. Reuters and The Associated Press report that the WTO ruled that China exceeded internationally agreed-upon standards for domestic support of rice and wheat farmers, allowing Chinese farmers to […]
U.S. Economy Grew Faster Than Expected in Q4…
In the fourth-quarter, U.S. gross domestic product grew at an annualized rate of 2.6%, according to the latest data from the Bureau of Economic Analysis. Thursday’s report beat expectations, with consensus economists polled by Bloomberg looking for growth to slow to 2.2% during the final three months of the year. The domestic economy grew at a […]
Cancer’s Complications: Confusing Bills, Maddening Errors And Endless Phone Calls…
New Times Square Billboards Fire Back at AOC and Her Green “Raw” Deal…
Today, the Job Creators Network put up two new billboards at the prominent intersection of 42nd Street and 7th Avenue in Times Square, New York City slamming Rep. Alexandria Ocasio-Cortez for proposing a disastrous idea she calls the “Green New Deal.” The first billboard reads, “Hey AOC, the Green New Deal Stinks.” The second billboard […]
Millennials Are Facing a Whopping $1 Trillion in Debt…
More than a decade has passed since young Americans faced debt levels this high. Debt among 19 to 29-year-old Americans exceeded $1 trillion at the end of 2018, according to the New York Federal Reserve Consumer Credit Panel. That’s the highest debt exposure for the youngest adult group since late 2007. Debt levels play a […]
Fiat Chrysler to Add 6,500 Jobs in Major Jeep Expansion…
Fiat Chrysler is pushing its red-hot Jeep brand into a higher gear with a major production expansion. The automaker says it will hire 6,500 workers and invest $4.5 billion by adding a new assembly plant in Detroit and boosting production at five existing factories. CEO Mike Manley said expanding in Detroit is a logical decision […]
It’s the Best Start for the Stock Market in 32 Years by One Measure–So Why Is Wall Street So Uneasy…
U.S. equity markets are on an unmitigated tear, by several measures, but the recent span of buoyancy for equity benchmarks, including a nine-week win streak for the 122-year-old Dow industrials, has produced equal parts wonderment and dread. Friday’s finish, for one, capped the best start to a year for the Dow Jones Industrial Average DJIA, […]
Wall Street’s Banksters Are Clandestinely Trading the “Digital Gangster” Stock of Facebook…
Being called a “digital gangster” by an investigative committee of the United States’ closest ally, the United Kingdom, might have been expected by the rational among us to do some serious damage to the share price of Facebook when it opened for trading this morning. The U.K. report was released yesterday when U.S. markets were […]
Stossel: Sugar’s Sweetheart Deal…
The U.S. sugar program is “Stalin-style price controls,” Ross Marchand of the Taxpayers Protection Alliance tells John Stossel. The U.S. government uses a complex system of loans, domestic quotas, and limits on how much sugar we can import. The goal is to control the price of sugar. Stossel calls it “welfare for the rich.” Economists […]
Government Report Reveals CBO Was Scandalously Off in Obamacare Estimates…
A new report from government actuaries has revealed that the Congressional Budget Office was scandalously off in its estimates of the impact of Obamacare’s individual mandate, a miscalculation that has had significant ramifications for healthcare and tax policy over the past decade. CBO estimates about the importance of an individual mandate to a national healthcare […]
What Consumers Need to Know About the Upcoming Credit Card from Apple and Goldman Sachs…
Apple and Goldman Sachs are expected to launch a joint credit card later this year that is designed to be used in concert with the iPhone and Apple Pay. The card, which will be Goldman’s first, will help the two companies meet major goals. Apple will diversify its revenue base through the swipe fees it […]
Breaking Down Elizabeth Warren’s Terrible, Horrible, No Good, Very Bad Math Behind “Childcare for All”…
This week Elizabeth Warren proposed a fantastical entitlement program to provide free or affordable childcare to every single American family with a young child – suggesting that the program would cost $70 billion a year. As Breitbart‘s John Carney notes – the whole plan is absurd; not because the price tag is so expensive, but because it’s way too cheap – Start with […]
Meet Generation Z: The Newest Member of the Workforce…
Every generation approaches the workplace differently. While talk over the last decade has largely focused on understanding the work habits and attitudes of Millennials, Visual Capitalist’s Jeff Desjardins points out that it’s already time for a new generation to enter the fold. Generation Z, the group born after the Millennials, is entering their early adult […]
4,823 U.S. Banks Have Disappeared Since 1999…
At the end of 1999, the year that President Bill Clinton and his Treasury Secretary Robert Rubin brokered the deal to repeal the Glass-Steagall Act of 1933 and allow the casino investment banks on Wall Street to gobble up deposit-taking banks, there were 10,220 federally insured banks and savings institutions in the United States. Today, […]
Cryptos Are Surging: Bitcoin, Ethereum Hit One-Month Highs as Institutions Dip Toes…
Cryptocurrencies are surging while the US equity markets take the day off. Ethereum is up over 18% from Friday’s ‘close’ and the rest of the crypto space is a sea of green. While no immediate catalyst (headline or technical level) is clear, increasing chatter over institutional investors dipping their toes in the space have prompted […]
STUDY: Medical Bankruptcies at Every Income Level…
For many Americans, making their health a priority comes at a terrible cost. According to a new study published in the American Journal of Public Health, medical expenses are the cause of two-thirds of bankruptcy filings. It’s not just those with low incomes; medical expenses can hurt families at all income levels. The study, led […]
Related
‘Like Pulling Teeth’: In Trade Talks, China and U.S. Said to Be Far Apart on Structural Changes by Beijing…
“There are already significant doubts about what China is putting on the table,” one of the sources, who is familiar with negotiations, told the South China Morning Post. Over the course of trade talks, China has been recycling the same sort of offers like a “broken record”, the source said, adding that it was a […]
One Year After Dimon Slammed Bitcoin as a “Fraud”, JPM Launches Own Cryptocurrency…
The bank said “JPM Coin” will be used to offer instantaneous settlement for transactions in the bank’s large corporate clients in its $6 trillion-a-day payments business for large corporations and institutions. Unlike bitcoin, JPM Coin’s value won’t be subject to the whims of a secondary market; instead, ‘JPM Coin’ will join the ranks of so-called […]
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