Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years. At least six lawsuits, all making similar allegations against the nation’s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut unveiled a plea agreement […]
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Opportunity Zones: Turning Neglected Neighborhoods Into Attractive Investments…
With incentives provided by the Tax Cut and Jobs Act, investors are eager to deploy money into opportunity zones, which are designed to bring investment and jobs to economically distressed areas. The opportunity zones project has the potential to become the nation’s largest economic-development program. By offering substantial tax breaks, this new program encourages private […]
“This Is A Bear Market”…
A sheepish Scott Wapner dared to ask DoubleLine’s Jeffrey Gundlach an open-ended question about the stock market, and we suspect the response he got was far from what he wanted to hear. “I’m pretty sure this is a long-term bear market for stocks…S&P is headed to new lows” “We’ve had pretty much all of the […]
Over $500k Spilled from Armored Truck, $300k Still Missing…
More than half a million dollars spilled from an armored truck onto a New Jersey highway, and nearly $300,000 remains missing a day later, police said Friday. East Rutherford police said in a statement that two bags of cash fell from a Brink’s truck near MetLife Stadium on Thursday. One of the plastic bags had […]
DeVos to Cancel $150M in Student Loan Debt After Court Loss…
The Education Department on Thursday announced that it will be canceling $150 million in student loans, upholding an Obama-era policy that Secretary Betsy DeVos has long fought to overhaul. DeVos had previously proposed to restrict “borrower defense” claims brought by students who had been enrolled in schools that were either closed or made false promises, […]
China Makes First Big U.S. Soybean Purchase Since Trump-Xi Truce…
China on Wednesday made its first major purchases of U.S. soybeans since President Donald Trump and his Chinese counterpart Xi Jinping struck a trade war truce earlier this month, providing some relief to U.S. farmers who have struggled to find buyers for their record-large harvest. Trump told Reuters in an interview on Tuesday the Chinese […]
The Economy “Rigging” That Impacts Americans…
I apologize in advance for my shortcomings in trying to de-wonk multinational economics and the financial constructs that impact, at the core, the U.S. worker and consumer. It’s a big issue to tackle in digestible portions. However, that said some inflationary statistics are presenting an opportunity for expanded discussion. Reuters has an article out today […]
GM Discovers That Government Bailouts Come with Golden Chains Attached…
General Motors recently announced that it will stop production and lay off some 15,000 employees at several U.S. and Canadian facilities. The announcement elicited a predictable outburst of indignation from President Trump. He said in a Twitter tirade that his administration is “looking into cutting all @GM subsidies, including … for electric cars.” That’s a […]
Gender Wage Gap Is Due to Men Working Longer Hours…
A pair of Harvard University Ph.D. candidates may have put a dagger in the mythical “gender wage gap” oft cited by politicians and pundits as an issue that can be addressed through governmental policy. In a paper titled, “Why Do Women Earn Less Than Men?” Valentin Bolotnyy and Natalia Emanuel study the unionized environment of […]
Sabotage? Has the Deep State Destroyed Trump’s Chances of a China Trade Deal?…
Somebody out there apparently does not want President Trump to make a trade deal with China. Just after U.S. and Chinese officials agreed to suspend the implementation of new tariffs for 90 days, one of China’s most important tech executives was literally kidnapped as she was changing planes in Canada. Huawei CFO Meng Wanzhou was […]
Black Unemployment Rate Falls In November, Ties Record Low…
Unemployment amongst black Americans fell in November to 5.9 percent, tying a record low. Meanwhile, the national unemployment rate stood unchanged at 3.7 percent, according to Bureau of Labor Statistics data. While the unemployment picture for black Americans is still higher than other demographic groups, it had never fallen below 7 percent since the Bureau […]
Saudi Arabia to Cut Oil Exports by 1 Million Bpd Next Month…
Saudi Arabia could reduce its daily crude oil shipments abroad by as much as 1 million barrels next month, Reuters reports, quoting unnamed sources close to Riyadh. According to them, the move would be motivated by weaker demand due to seasonal patterns in consumption and Saudi Arabia’s commitment to the new production cut agreed last […]
U.S. Becomes Net Oil Exporter for First Time in Decades…
The United States became a net oil exporter last week for the first time in almost 75 years, a significant step toward achieving “energy independence and dominance,” as promoted by President Donald Trump. The United States had been a net oil importer since 1949. In the last week of November, however, weekly U.S. net imports […]
155k Jobs Added to November’s Payroll…
U.S. Secretary of Labor Alexander Acosta today issued the following statement regarding the November 2018 Employment Situation report: “President Trump’s policies continue to fuel strong and steady job growth. Two full years since the President’s election, 4.6 million jobs have been created, including 155,000 in November. Job gains were significant in manufacturing and transportation and […]
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Dow Tanks 558 Points…
Equity investors rocked by days of volatility are saying good riddance to the week on Friday in what was another stomach-churning session. The month of December is now off to its worst start since 2008, as tracked by our partners at Dow Jones Market Data Group. The Dow Jones Industrial Average finished the final day […]
How Barack Obama & His Globalist Pals Used Millennials to Hasten the Decline of America…
It’s a debt bomb of epic proportions—nearly 1.5 trillion dollars and climbing fast which has enslaved an entire generation of Americans. Add credit card and auto loan debt and the total amount of that debt is nearly doubled. And you know who initiated this apocalyptic debt trend? None other than Barack Obama. You think it […]
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U.S. Factory Orders Tumble Most In 15 Months…
But, but, but…. ISM Manufacturing jumped?!! US Factory orders tumbled in October – dropping 2.1% MoM (worse than expected), the biggest drop since July 2017. Worse still, September’s data was downwardly revised to just +0.2%. Furthermore the final durable goods orders data dropped 4.3% MoM (much worse than the 2.4% drop expected)…
Panda -vs- Dragon: President Trump Tweets the Dynamic…
Within the dynamic of the U.S -vs- China trade confrontation, CTH noted the Wall Street (globalist) multinationals would likely go bananas. There are trillions at stake and President Trump is confronting three decades of financial influence from the corporate lobbyists. To the angst of Wall Street, POTUS Trump tweets the dynamic: “The negotiations with China […]
Trump Says He’ll Be ‘Formally Terminating NAFTA,’ Says Congress Will Have Choice Between Replacement or Nothing…
Too funny… this is what we would call a win/win. President Trump delivering remarks to the media aboard Air Force One on the flight back to the U.S. – BREAKING: Trump says he’ll be ‘formally terminating NAFTA,’ says Congress will have a choice between replacement or nothing…
An Amazon Revolt Could Be Brewing As the Tech Giant Exerts More Control Over Brands…
The next time you buy a PopSockets cellphone grip from Amazon, be forewarned: It likely won’t come with a manufacturer’s warranty — because it won’t be coming from PopSockets or one of its authorized sellers. That’s one of the trickle-down effects of a power move that Amazon recently made against PopSockets and other brands that […]
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