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 […]
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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 […]
Trump Tweets Secretary Ross Reevaluating EU Trade Deals….
Just a short post to reflect upon. We have consistently stated the #1 reason for opposition to President Trump is financial (ie. economic); “There are Trillions at stake“. Everyone admits the past 40+ years of U.S. trade deals have resulted in the massive export of U.S. wealth via jobs and manufacturing gains within other nations. […]
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Republic Steel Announces Recommission of Lorain Ohio Steelworks – Hundreds of Jobs Scheduled to Return….
Excellent news for the community of Lorain, Ohio, where it was announced today that Republic Steel has plans to recommission at least one blast furnace by the end of this year. They are also estimating the possibility of putting a second blast furnace back on-line due to production forecasts as a result of President Trump’s […]
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Here’s Who Hired the 313k Employees…
While February was expected to match the January payrolls number at best, the February payrolls print was a blockbuster, blowing expectations out of the water with 313K jobs added, over 785K according to the Household Survey, and a record 1 million full and part-time jobs. So which sectors were responsible for the surge in February […]
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Defying Expectations, American Businesses Added 235,000 Jobs in February…
The jobs market is red hot right now. American businesses added 235,000 jobs in February, ADP and Moody’s Analytics said Wednesday. January’s private sector payroll number was revised upward to 244,000 from the initial report of 234,000. That was far more than the 195,000 expected by economists. “The job market is red hot and threatens […]
Federal Government Gives $2 Billion if Businesses Hire Aliens over Americans…
The Federal government is still incentivizing businesses to favor immigrants over Americans, to the tune of $2 billion in subsidies across the country, according to the Center for Immigration Studies. They do this via the Optional Practical Training (OPT) program. This program by the Federal government provides money to businesses that discriminate against American citizens […]
Europe Preparing to Retaliate Against U.S. Steel Tariffs by Hitting U.S. Jeans, Bourbon, Harley’s…
The European Union said Tuesday it was preparing to hit a range of well-known U.S. goods with a steep 25 percent tariff, to retaliate for the 25 percent steel tariffs the U.S. plans to impose on steel imports. The EU is getting ready to hit goods like jeans, bourbon, motorcycles, and a range of agricultural […]
Will Gary Cohn’s Departure Lead Trump to the Full Koch Agenda?…
Wall Street is losing its bedtime snuggly and comfort blanket in the White House. After a tortuous 14 months replete with crazy tweets from the President, Russia-probe indictments and guilty pleas, failure to talk Trump out of withdrawing from the Paris climate accord, revelations of hush money paid to a porn star by Trump’s personal […]
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