President Trump’s top health official said “change is coming” to drug pricing in the wake of a new round of price hikes. Health and Human Services Secretary Alex Azar’s comments followed Trump’s tweet at Pfizer for raising drug prices last week on more than 40 products, more than a month after Trump said that drug […]
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June Jobs Report: 213,000 Jobs Added, Economy Expanding, Blue Collar Gains Most Substantive…
The Bureau of Labor Statistics presents the latest snapshot of jobs and employment. According to the BLS data, behind the 213,000 jobs added, the most significant gains all center around growth in durable goods, manufacturing, transportation/distribution and the ancillary business services directly connected to the blue collar sector. In addition, April was revised up from […]
601 People Charged in Massive, $2B Healthcare Scam…
The Justice Department on Thursday announced its largest-ever healthcare fraud enforcement action, and charged 601 people, including 165 medical professions, for making false medical claims worth $2 billion, a quarter of which was related to opioids. “This is the most fraud, the most defendants, and the most doctors ever charged in a single operation — […]
GAO Report Shows Revenue States Could Gain from Expanded Internet Sales Tax Ruling…
Forty-five states and the District of Columbia levy taxes on the sale of goods and certain services, including those sold remotely, such as over the Internet. In 1992, the Supreme Court ruled in Quill v. North Dakota that a state can only require a business to collect and remit sales tax if the business has […]
Debt-Ridden Puerto Rico Releases Its Long-Awaited Financial Statements–Here’s What They Say…
Puerto Rico’s continued financial mismanagement led to a deficit of over $600 million in 2015, adding to the island territory’s ongoing debt crisis, according to the government’s long delayed and only recently released 2015 financial statements. The financial statements, released three years after the close of the 2015 fiscal year, show that Puerto Rico continued […]
The Central Banking Heist Has Put the World at Risk…
“The 2008 financial crisis was the consequence of a loosely regulated banking system in which power was concentrated in the hands of too limited a cast of speculators,” Nomi Prins tell me. “And after the crisis, the way the US government and the Federal Reserve dealt with this corrupt and criminal banking system was to […]
EU Threatens $300 Billion Retaliation If U.S. Moves Ahead With Auto Tariffs…
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 […]
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 […]
Related
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 […]
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