More than a week after President Trump threatened to slap a 20% tariff on auto imports from the European Union, Brussels has issued a written warning to the US Department of Commerce with a threat of its own: If the Trump administration moves ahead with the auto tariffs, the bureaucrats in Brussels won’t hesitate to […]
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Canada Makes Retaliatory Tariffs Official: ‘We will not back down’…
Canada’s foreign minister announced Friday that Ottawa plans to impose about $12.6 billion worth of retaliatory tariffs on U.S. goods on July 1, joining other major U.S. allies striking back in the escalating trade dispute. The country is working closely with the European Union and Mexico, according to Foreign Minister Chrystia Freeland. “We will not […]
CFPB Settles with Citibank on Overcharging Credit Card Rates…
The Consumer Financial Protection Bureau said Friday that it had reached a settlement with Citibank over the bank’s overcharging of customers on credit card rates. The bank will avoid civil penalties, on the grounds that it first reported the problem to the bureau and took steps to remediate it. Instead, the CFPB required the bank […]
According to CNBC the Dow’s 31 Percent Gain During Trump’s First Year Is the Best Since FDR…
Donald Trump lifted the Dow Jones industrial average in his first year in office more than any other president since Franklin Roosevelt. The Dow has surged more than 31 percent since Trump’s inauguration on Jan. 20, 2017. That marks the index’s best performance during a president’s first year since Roosevelt. The Dow skyrocketed 96.5 percent […]
America’s Severe Trucker Shortage Could Undermine the Prosperous Economy…
Bob Blocksom, an 87-year-old former insurance salesman, needs a job. He hasn’t saved enough money for his retirement. And trucking companies, desperate for workers, are willing to give him one. Age didn’t matter, they said. If Blocksom could get his “CDL” — commercial driver’s license — they would hire him for a $50,000 job. One […]
Atlanta Fed Forecasts Second Quarter GDP to Hit 4.5 Percent, Down from 4.7 Percent…
The growth rate of real gross domestic product (GDP) is a key indicator of economic activity, but the official estimate is released with a delay. Our GDPNow forecasting model provides a “nowcast” of the official estimate prior to its release by estimating GDP growth using a methodology similar to the one used by the U.S. […]
Brazil’s Petrobras to Pay $3B in Reparations to U.S. Investors…
Brazilian state oil company Petrobras announced Monday that it would pay almost 3 billion U.S. dollars in reparations to U.S. investors who were harmed by the corruption ring within the firm. Brazil’s largest company was sued in a class action lawsuit, which was approved on June 22 by a federal court in New York. In […]
KABOOM!: Supreme Court Rules That States Can Require Collection of Online Sales Taxes…
The Supreme Court ruled Thursday that states can require out-of-state online retailers to collect sales taxes, reversing a previous high court decision that limited collections to stores with a physical presence and paving the way to more online sales taxes nationwide. In a 5-4 decision written by Anthony Kennedy, the court ruled that that physical […]
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Healthcare Policy Opens Door to Coverage Across State Lines…
Trump administration allows insurance to be sold across state lines. Small businesses and individual workers will be allowed to band together to provide medical coverage that will be less expensive than Obamacare plans under a rule released Tuesday by the Trump administration. The Department of Labor released its final rule as part of the administration’s […]
OMB Director Mick Mulvaney Discusses Government Reorganization During Cabinet Meeting (VIDEO)…
Office of Management and Budget Direct Mick Mulvaney had a break-out session during the White House cabinet meeting today where he discussed part of the government restructuring and reform proposals. We have waited a long time for this type of common sense initiative. This is MAGA. Some will say it can’t be done; however, if […]
Federal Court Rules Consumer Bureau Structure Unconstitutional…
A federal district judge ruled Thursday that the structure of the Consumer Financial Protection Bureau (CFPB) violates the Constitution, countering a January ruling from a federal appeals court. Judge Loretta Preska of the Southern District of New York ruled that the CFPB’s creation as an independent agency with a director that could only be dismissed […]
Commerce Secretary Wilbur Ross Discusses Ongoing Trade Initiatives…
U.S. Commerce Secretary Wilbur Ross gives an interview with CNBC about how the administration’s ongoing trade initiatives are addressing U.S. products and interactions with ongoing congressional stakeholders. One of the more recent globalist (Wall Street) approaches to fend-off President Trump’s America First trade reset has been to target the ethical position of Secretary Ross; within […]
China Enters the Trade Trap…
Perhaps nobody know what President Trump will do next, including President Trump, but right now it looks like he has successfully maneuvered China into a trade trap. The goal is to slow China’s economy such that military modernization slows and its economy cannot catch up with the United States. Meanwhile, implementation of this strategy is […]
Canada, EU and Germany Signal Compliance with President Trump Trade Demands…
First, we would draw your attention to May 23rd, when President Trump announced an instruction to Commerce Secretary Wilbur Ross to begin a Section 301 review of the auto industry a week prior to the implementation of the Steel and Aluminum tariffs. At the time when all media were discussing other ‘matters’ CTH pointed out […]
Wealthy Blue-Staters Are Using Shady Alaskan Trusts to Dodge SALT-Deduction Caps…
Wealthy Americans living in blue states are scrambling to find tax loopholes that will help them get around one of the most controversial (and for some, infuriating) provisions in President Trump’s tax plan: The capping of the so-called SALT deduction. Enter real-estate planner Jonathan Blattmachr, who this week made the mistake of explaining to a […]
MetLife, Brighthouse Sued for $500M Over Missing Pensioners Funds…
MetLife Inc. and Brighthouse Financial Inc. have been sued for failing to pay at least $500 million in retirement benefits over the past 2½ decades to thousands of pension plan participants. In December, MetLife disclosed that it had failed to pay pension benefits to tens of thousands of employees covered by its group annuity contracts, […]
Social Security Benefits Buy 34 Percent Less Than in 2000…
If you feel like your Social Security check doesn’t stretch as far as it once did, there’s a likely explanation for it. Since 2000, the buying power of monthly benefits has fallen by more than a third, according to an annual report released Thursday by the Senior Citizens League, an advocacy group based in Alexandria, […]
Starbucks Share Drop on Weak Sales Forecast, Plans to Close More Than 150 Stores Next Year…
Shares of Starbucks slipped more than 3 percent Tuesday after the coffee chain lowered its third-quarter sales forecast and said it would scale back store growth. The company said it would slow the number of licensed stores it opens and close underperforming company-operated locations in densely populated areas. The company historically closes about 50 of […]
Head of VW’s Audi Arrested in Germany Over Diesel Scandal…
German authorities arrested the head of Volkswagen’s luxury arm Audi on Monday, June 18, the most senior company official so far to be detained over the carmaker’s emissions test cheating scandal. Munich prosecutors, who earlier this month widened their probe into Audi, said Rupert Stadler was being held due to fears he might hinder their […]
Trump Announces Tariffs on $50B in Chinese Goods…
President Trump on Friday announced that the United States would impose tariffs on $50 billion in Chinese products, making good on a threat that has been months in the making. The White House’s move is expected to ramp up trade tensions with Beijing and possibly risk a key cooperative partnership to help denuclearize the Korean […]
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