China’s government is engaged in a systematic program of cyber attacks on American and foreign companies, according to a US government trade report made public last week. The cyber intrusions into corporate networks are one of four areas identified by the office of the US Trade Representative as unfair trading practices. These have prompted the […]
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Gordon Chang Discusses President Trump’s Plan to Remove the Panda Mask from the Chinese Red Dragon…
Author of “The Coming Collapse of China”, Gordon Chang, discusses the effect of President Trump’s tariffs on China and the epic battle ahead. Last night China announced their feeble retaliatory actions – SEE HERE. A professionally nervous Maria Bartiromo, frames a series of questions from the perspective of Wall Street. Fortunately Gordon Chang understands the […]
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Trump Signs Whopping $1.3 Trillion Omnibus Bill…
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Winners and Losers from the WHOPPING $1.3 Trillion Omnibus…
Congress is on the verge of passing a $1.3 trillion omnibus that would fund the government through September and provide the biggest federal spending increase in years. The bill is loaded with provisions given its likely standing as the last legislative train leaving the station before the midterms, and members have been scrambling to compete […]
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Trump’s DOI Releases the Results of the Largest Oil Lease Sale In U.S. History…
The Department of the Interior released the results of the largest oil and gas lease sale in U.S. history Wednesday, reflecting the state of industry interest in offshore drilling in the Gulf of Mexico. The results were similar to what experts expected, bringing in $124.7 million in high bids, slightly higher than the $121 million […]
Biggest Three Banks Gobble Up $2.4 Trillion in New Deposits Since Crisis …
Americans are parking more money with the biggest banks than ever before, cementing the firms’ dominance of the financial industry less than a decade after the crisis. The three largest U.S. banks have added more than $2.4 trillion in domestic deposits over the past 10 years—a 180% increase—according to a Wall Street Journal analysis of […]
Why the World’s Central Banks hold Gold – In Their Own Words…
Collectively, the central bank sector claims to hold the world’s largest above ground gold bar stockpile, some 33,800 tonnes of gold bars. Individually within this group, some central banks claim to be the top holders of gold bullion in the world, with individual holdings in the thousands of tonnes range. This worldwide central bank group, […]
Food Truck Nation: A New Study Looks at How Overregulation Holds Back Food Freedom …
Food trucks have swept the nation over the past decade, attracting no shortage of attention from consumers, popular culture (such as Jon Favreau’s film Chef), and, alas, zealous local regulators. The owners of the trucks have embraced technology, connecting directly with their customer bases over social media and proving responsive to local tastes. Yesterday a […]
Fed Comes A Little Bit Closer To Taylor Rule…
Yes, Jay (Powell) and the Americans (FOMC) came a little bit closer to The Taylor Rule (Rudebusch Model) with the FOMC voting to increase their target rate to 1.75%. The lower bound is now 1.50%. The Taylor Rule (Rudebusch Model) calls for a Fed Funds Target rate of 6.62%. Only 447 basis points left to […]
Chuck Grassley Gives the Green Light to Call Out China for Currency Manipulation…
Republican Sen. Chuck Grassley of Iowa called out China for currency manipulation Monday on Fox Business, but also urged caution to avoid a full blown trade war. Grassley said he was fearful of China’s response to America’s trade policy under President Donald Trump, prompting host Host Maria Bartiromo to ask what the government’s plan is. […]
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Trump Slaps China with Tariffs On Up to $60 Billion in Imports…
President Donald Trump signed an executive memorandum on Thursday that would impose retaliatory tariffs on up to $60 billion in Chinese imports. “This is the first of many” trade actions, Trump said as he signed the memo. The new measures are designed to penalize China for trade practices that the Trump administration says involve stealing […]
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Washington Aims at Venezuela’s Cryptocurrency in New Round of Sanctions…
The White House on Monday continued tightening financial sanctions on Venezuela, issuing an order prohibiting U.S. citizens from making any transactions in the Petro, the socialist administration’s newly launched cryptocurrency. The presidential order prohibits U.S. citizens from dealing in “any digital currency, digital coin, or digital token” issued by Venezuela after January 9, 2018. Venezuela […]
National Debt Hits $21 Trillion….
The national debt exceeded $21 trillion for the first time on Thursday, a little more than six months after it hit first $20 trillion on Sept. 8. The national debt was $21.031 trillion on Thursday. The government releases total debt figures each business day, but it lags by one day. Federal borrowing has been on […]
Medieval ‘Pot o’ Gold’ Discovered by Construction Workers…
Just in time for Saint Patrick’s Day — two construction workers in Holland have discovered a real-life “pot o’ gold.” The workers from water company Oasen made the stunning find when they were laying pipes in the new town of Hoef and Haag, in the province of Utrecht, LiveScience reports. During the construction work, they […]
Goldman, Atlanta Fed Slash Q1 GDP Forecasts Below 2.0%…
Latest forecast: 1.9 percent — March 14, 2018 – The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2018 is 1.9 percent on March 14, down from 2.5 percent on March 9. After yesterday’s Consumer Price Index release from the U.S. Bureau of Labor Statistics and this […]
Theranos’ CEO Elizabeth Holmes Charged by SEC with “Massive $700M Fraud”…
A little over two years after Theranos was exposed as a fraud by the WSJ, and not that much longer after its CEO Elizabeth Holmes was prancing around with Bill Clinton on the stage of the Clinton Global Initiative…the SEC finally woke up, and moments ago it announced that it has charged Elizabeth Holmes as […]
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Larry Kudlow, New Chief Economic Advisor to Trump, Says China ‘has earned a tough response’…
China can expect the U.S. to take a tough stance when it comes to international trade, Larry Kudlow, the newly appointed director of the National Economic Council, said Wednesday. President Donald Trump named Kudlow to the position Wednesday to succeed Gary Cohn. Kudlow’s first task will be to negotiate the administration around a ticklish issue […]
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The Retirement Crisis: The Elderly are Broke…
A study released by GoBankingRates reveals that older people planning their retirement have cause for concern. Forty-two percent of Americans are facing their golden years with less than $10,000 in savings. A lack of savings and planning has reduced what should be an enjoyable time in seniors’ lives to a period of stress and worries […]
Broadcom-Qualcomm Went from Bad to Worse: The Whole Sordid Saga…
A simple acquisition attempt — at least, as simple as one can be — has turned into an angry dispute, with extraordinary measures taken to persuade shareholders on both sides, and potential national security concerns spanning from the US to China. On 6 November 2017, Broadcom (AVGO) issued an unsolicited bid for Qualcomm (QCOM). The […]
Small Business Optimism at Highest Level Since 1983, Second Highest Ever…
The National Federation of Independent Businesses (NFIB) said small business optimism rose to 107.6 in February, the highest level since 1983 and second highest ever. The NFIB Small Business Economic Trends Survey showed a jump in small business owners increasing capital outlays and raising compensation. “When small business owners have confidence and certainty in the […]
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