At least 300 companies have announced tax reform bonuses, pay raises, or 401(k) hikes, according to a running list compiled by Americans for Tax Reform, found at www.atr.org/list. Democrats and most media outlets continue to dismiss or altogether ignore the good news about tax reform. American workers do not agree with the “crumbs” comments of […]
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Private Payrolls Grow by 234k in January…
The new year got off to a strong start for job creation, with businesses adding 234,000 in January, according to a report Wednesday from ADP and Moody’s Analytics. Economists surveyed by Reuters had been looking for private payrolls to grow by 185,000. Job creation was concentrated largely in service-related industries, which contributed 212,000 to the […]
Microchipping? Hhhhmmm: Bezo’s, Buffett, JPMorgan Starting Healthcare Company…
Amazon, Berkshire Hathaway and JPMorgan Chase & Co. have agreed to work together to provide healthcare for their employees that is “free from profit-making incentives and constraints.” The three companies are hoping to create a new healthcare company that they say will aim to improve employee satisfaction and reduce costs. The companies provided few details […]
One Million People Are Waiting to Trade Crypto with Robinhood…
Robinhood Financial, the”fastest-growing online brokerage in history”, announced last week that it was getting into cryptocurrency trading. And since then, Bloomberg reports, more than one million people have put their names on the company’s waiting list in four days. Digital currency trading will mark the first paid product for Robinhood, which became wildly popular among […]
U.S. Oil Production Hits 10 Million Barrels Per Day for First Time Since 1970…
U.S. oil production hit 10 million barrels per day in November for the first time since 1970, highlighting the power of shale oil and natural gas boom. More than 6 million of those barrels came from shale, the Energy Information Administration reported Wednesday. Nationwide output reached 10.038 million barrels a day in November, the agency […]
A Big Dispute over Agency Power Looks Primed for Supreme Court Review…
The Washington-based federal appeals court affirmed the legality of the Consumer Financial Protection Bureau’s (CFPB) leadership structure in a 6-3 vote Wednesday, likely sending a major dispute over agency power to the Supreme Court. Judge Nina Pillard wrote the court’s main opinion. Judges Karen Henderson, Brett Kavanaugh, and Raymond Randolph dissented. All three are Republican […]
NAFTA Round #6 – USTR Robert Lighthizer Highlights Canada’s Deceptive Negotiation Approach…
NAFTA renegotiation round six ended yesterday in Canada will no substantive progress on the most contentious trade issues. One negotiation chapter on corruption was closed, but there was little to no agreement on much else. Each of the primary Trade Representatives gave a closing statement at the conclusion of Round #6. U.S.T.R. Lighthizer blasted Canada […]
Did Bureau of Economic Analysis Sandbag Report on 4th Qtr U.S. GDP ?….
The U.S. Fourth Quarter GDP growth was reported two days ago at 2.6% and that stunned everyone who were expecting a much higher number. All U.S. economic indicators including U.S. Holiday consumer spending, which accounts for around two-thirds of total GDP, were off the charts in the fourth quarter growing +5.5% over the prior holiday. […]
ExxonMobil to Invest More Than $50 Billion in U.S….
At ExxonMobil, we plan to invest more than $50 billion over the next five years to expand our business in the United States. These investments are underpinned by the unique strengths of our company and enhanced by the historic tax reform recently signed into law. In fact, as you have probably seen, several companies have […]
“Biggest Theft in Crypto History:” Over $400M Stolen from Japanese Crypto Exchange…
Earlier today we reported that cryptocurrencies tumbled overnight after one of the most popular – if unlicensed – Japanese exchanges, Coincheck, halted withdrawals of funds and cryptos amid broad confusion as to what prompted the halt. Additionally, Coincheck said it had stopped deposits into NEM coins, a hint that something was very wrong with what […]
U.S. GDP Annual Rate Increases to 2.6 Percent…
Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2017 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. The Bureau emphasized that the fourth-quarter advance estimate released today is based on […]
The Decline and Fall of General Electric, the Poster Child of Obamanomics…
Sometimes we look back a decade or so and reconsider our word choice. For instance, I used to call General Electric — with its heavy lobbying, its intimate ties to the White House, all its bets on green energy, on embryonic stem cells, on Obamacare, on industrial policy — the “for-profit arm of the Obama […]
Trump Administration Wants Work Requirements for Food Stamps…
The Trump administration is pressing for additional work requirements for people receiving food stamps from the government. In a four-page document released Wednesday, the Department of Agriculture made several suggestions for farm bill legislation being crafted in Congress, writing that it supports “work as the pathway to self-sufficiency, well-being, and economic mobility for individuals and […]
Campbell Soup to Close Toronto Plant, Move Production to U.S….
The Campbell Soup Company announced Wednesday that it will shut down its Toronto plant and move operations to its three U.S. factories. The move will result in nearly 400 lost manufacturing jobs at the plant, which has been in operation since 1931. The Toronto plant will be closed in phases over the next 18 months […]
Home Depot Hourly Employees to Receive up to $1k Bonus Due to Tax Reform…
Home Depot is awarding its hourly employees in the U.S. a one-time cash bonus of as much as $1,000 following the passage of new tax legislation. The bonus amounts will be determined based on a person’s length of service, similar to Walmart’s strategy. All of Home Depot’s U.S. hourly workers will get at least a […]
Related
The Mnuchin Massacre: Precious Metals Surge Amid Dollar’s Worst Start in 30 Years…
The Dollar was smashed with the ugly-stick today as Mnuchin’s comments sparked chaos in FX markets… and as precious metals surged and bond yields jumped… and stocks actually sank (briefly)… we were reminded by the mainstream media that a falling dollar is great for ‘Murica so buy the dip in stocks with all your money […]
Mick Mulvaney Tells Employees CFPB Will No Longer ‘Push the Envelope’…
Acting Consumer Financial Protection Bureau Director Mick Mulvaney told the agency’s employees Tuesday that the agency no longer will “push the envelope” in policing private companies, suggesting in an agency-wide memo that he plans to reverse course from the one set out by departed director and Obama appointee Richard Cordray. “Simply put, the days of […]
Senate Approves Jerome Powell as Fed Chair…
The U.S. Senate on Tuesday voted to confirm Jerome Powell as the next chairman of the Federal Reserve. Powell will assume the role of the central bank’s top official in February, replacing Janet Yellen, after the Senate voted 85-12. President Donald Trump chose Powell, a member of the Fed’s board of governors, as his nominee […]
Richest One Percent Made 82% of Wealth Created Last Year…
The world’s richest one percent raked in 82 percent of the wealth created last year while the poorest half of the population received none, Oxfam said Monday, as the world’s elite prepared to mingle at the World Economic Forum in Davos. A new report from the charity also found that the wealth of billionaires has […]
California Democrats Want Some Businesses to Fork over Half Tax-Cut Savings to State…
Calling the Trump administration’s tax reform plan a “middle-class tax increase,” two California lawmakers introduced a bill that would force large companies to fork over half of their expected savings to the state. Assemblymen Kevin McCarty and Phil Ting, both Democrats, introduced Assembly Constitutional Amendment 22, which calls for a 10 percent surcharge on companies […]
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