Three months ago, Goldman first among the big banks warned that the US fiscal trajectory was dire, warning that “US fiscal policy is on an unusual course” with the budget deficit expected to widen over the next few years, as a result of prior imbalances and recently enacted policies – namely Trump’s dramatic fiscal stimulus […]
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U.S. Oil Exports Continue to Break Records…
U.S. crude oil exports broke yet another record, spiking to 2.566 million barrels per day for the week ending on May 11. With U.S. shale surging and export terminals retooling on the Gulf Coast, the export surge is likely set to continue. The export figures bounce around quite a bit from week to week, but […]
Almost Half of U.S. Families Can’t Afford Basics Like Rent and Food…
The economy may be chugging along, but many Americans are still struggling to afford a basic middle class life. Nearly 51 million households don’t earn enough to afford a monthly budget that includes housing, food, child care, health care, transportation and a cell phone, according to a study released Thursday by the United Way ALICE […]
Trump Officials Set for New Round of China Trade Talks at White House…
Trump administration officials are gearing up for a new round of trade talks with Chinese officials at the White House on Thursday after a U.S. trade delegation traveled to China earlier this month. The White House announced on Wednesday that Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer and additional […]
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China Responsible for Destroying U.S. Manufacturing…
The Most Underappreciated Story in the Oil Market…
The world is currently watching the growing tensions in the Middle East, and oil market analysts are guesstimating just how much Iranian oil supply the renewed U.S. sanctions could stifle. Yet, the biggest story in oil markets this year may well take place far from the much-publicized tensions in the Middle East – namely China’s […]
Silicon Valley’s Housing Market Is So Dire, a Burned-Out Home Just Sold for $938k…
It’s no secret that buying a home for under US$1 million in the San Francisco Bay Area is a nearly impossible task. Case in point: Somebody has paid over US$900,000 for a burned-out home. The one-story, single-family house at 1375 Bird Avenue in San Jose, California, was ravaged by fire two years ago. In photos, […]
New Report on Crypto Ownership Shows ‘Majority of Early Adopters Already on Board’…
New research into the current state of global bottom-up adoption of cryptocurrencies was released in a report by Dalia Research on their Medium blog, May 9. The report shows differences in crypto ownership and knowledge along lines of education, gender, and nationality. The analysis attempted to “measure the spread of awareness, knowledge, buying intention and […]
For the First Time Ever, America Has Enough Jobs for Everyone…
There were a record 6.6 million job openings at the end of March, the Labor Department said. With unemployment down at 3.9 percent, that means there are enough jobs to employ everyone looking to work for the first time since the data began to be collected. Not everyone will get a job, as openings are […]
Here’s What Will Drive Oil Prices After Trump’s Iran Decision…
So far, so good for investors. Wall Street isn’t sweating President Donald Trump’s decision to withdraw the U.S. from the Iran nuclear agreement and reimpose sanctions on Tehran. But will the calm hold? Much will depend on the reaction by Iran as well as by other participants in the multilateral agreement that was designed to […]
Elder Financial Fraud Is Worse Than We Thought. Here’s What We Can Do About It…
Our parents’ financial rules of thumb were pretty simple and easy to follow: Neither a borrower nor a lender be, pay back your mortgage before retiring, and balance your bank checkbook every month to be sure you’re living within your budget. By contrast, today’s financial marketplace is far more complex, with its multitude of online […]
How Walmart Is Helping Prosecutors Pursue 10-Year Sentences for Shoplifting…
It was late afternoon on Dec. 26, 2016 — the day after Christmas, a day when most stores are busy processing the returns for unwanted gifts — when Curtis Lawson entered a Walmart in Knoxville, Tennessee. He had a receipt for $39.57 in purchases made earlier that month. He needed cash. He walked through the store, picking up the […]
Housing Confidence Hits Record High…
Supply is tight, prices are soaring and mortgage rates are rising. That shouldn’t exactly add up to a happy housing market, and yet, it does. Consumer confidence in housing jumped to its highest level on record in April, according to a monthly sentiment index from Fannie Mae. Of the index’s six components, only the share […]
Amazon Drops Christian Non-Profit from Donations Program After SPLC Declares It a ‘Hate Group’…
Technology giant Amazon has dropped a Christian non-profit, the Alliance for Defending Freedom, from the AmazonSmile charity donation program after the SPLC deemed the organization a “hate group.” According to the Federalist, the Alliance for Defending Freedom (ADF), a non-profit law firm that defends Christians in cases of religious freedom, revealed in a statement on […]
Commerce Secretary Wilbur Ross Discusses China Trade Visit…
Commerce Secretary Wilbur Ross discusses the ongoing trade initiatives with China ahead of the U.S. delegation departing later tonight. Secretary Ross, Treasury Secretary Mnuchin, U.S. Trade Representative/Ambassador Robert Lighthizer, Economic Council Chairman Larry Kudlow and White House Trade Adviser Peter Navarro are all heading to Beijing to meet with their Chinese counterparts…
Wilbur Ross Joins China Delegation, Trump Extends EU, NAFTA Steel Tariff Exemption 30 Days…
President Trump’s MAGAnomic team have announced a 30-day extension for the Steel (25%) and Aluminum (10%) tariffs for the European Union, Canada and Mexico. Also, after a prior agreement with South-Korea, the “KORUS” deal, team U.S.A. has also reached an agreement in principle with Australia, Argentina and Brazil which will be finalized in next 30 […]
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Inflation Reaches Key Threshold for Fed Rate Hikes…
Inflation for the first time in several years has increased to the Federal Reserve’s annual target, the Commerce Department reported Monday, reaching a key threshold for the future of U.S. interest rates. The personal consumption expenditures (PCE) index, the Fed’s inflation barometer, increased 2 percent in the 12-month period ending in March, according to data […]
Wall Street Admits Curing Diseases Is Bad for Business…
Goldman Sachs has outdone itself this time. That’s saying a lot for an investment firm that both helped cause and then exploited a global economic meltdown, increasing its own wealth and power while helping to boot millions of Americans out of their homes. But now Goldman Sachs is openly saying in financial reports that curing […]
Americans Fleeing Tax-Heavy Blue States at a Record Pace Due to GOP SALT Cap…
Over the past decade, about 3.5 million Americans have relocated from high-tax blue states like California and those in the Northeast, to low-tax red states like Texas and Arizona — and the change is likely to accelerate. So say Arthur Laffer and Stephen Moore, co-authors of a report from the American Legislative Exchange Council, in […]
Chicago Is Trying to Pay Down Its Debt by Impounding Innocent People’s Cars…
On June 21, 2016, Chicago police pulled Spencer Byrd over for a broken turn signal. Byrd says his signal wasn’t broken, but that detail would soon be the least of his worries. Ever since, Byrd has been trapped in one of the city’s most confusing bureaucratic mazes, deprived of his car and his ability to […]
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