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CFPB’s Data-Mining on Consumer Credit Cards Challenged in Heated House Hearing…

Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year — up to 42 billion transactions – through a controversial data-mining program, according to documents obtained by the Washington Examiner. A CFPB strategic planning document for fiscal years 2013-17 describes the “markets monitoring” program […]

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U.S. Jobless Claims Plunge to Lowest Weekly Tally Since 1973…

U.S. filings for unemployment benefits plummeted to the lowest level in almost 45 years in a sign the job market will tighten further in 2018, Labor Department figures showed Thursday. The drop in claims shows that companies are increasingly holding on to their employees amid a shortage of skilled labor. Businesses are struggling to find […]

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Stop Financial Crimes Against Older Americans…

In 2006, Philip Marshall had to make a critical decision: turn in his father for exploiting Philip’s grandmother, or do nothing. Philip’s decision to act revealed to the world what remains perhaps the world’s highest profile case of elder abuse. Ultimately, Anthony Marshall was convicted of defrauding his mother, the philanthropist Brooke Astor. While the […]

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Seattle Sugary Drink Tax Take Effect: $10.34 Tax on $15.99 Purchase…

I have previously discussed my opposition to sugary drink bans or prohibitive taxation schemes in Chicago and New York. While Cook County reluctantly yielded to public opinion and court decisions recently, Seattle has gone forward with a ridiculous tax of 1.75 cents per ounce on sugary drinks. This paternalistic law is designed to make such […]

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Beijing Wants to Kick Bitcoin Out of China…

Chinese authorities are reportedly aiming to completely ban centralized trading of virtual currencies as well as individuals and businesses that provide related services. According to an internal memo from a government meeting seen by Reuters, Beijing will continue to apply pressure to the virtual currency trade and prevent the growth of risks in that market. […]

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Tax Cuts Drive Business Back to the Motor City…

Fiat Chrysler will make Ram trucks in Michigan instead of Mexico beginning in 2020, and the company says this will mean 2,500 extra jobs at the plant in Warren, Detroit’s largest suburb. While this isn’t the first bit of good economic news in the wake of big corporate tax cuts Republicans just passed, it’s the […]

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U.S. Oil Industry Set to Break Record, Upend Global Trade…

Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And this new record, expected within days, likely won’t last long. The U.S. government forecasts that the nation’s […]

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Economists Agree: Trump, Not Obama, Gets Credit for Economy…

Who deserves credit for the booming economy? This is not a petty argument. How voters answer the question could well determine whether Democrats retake the House of Representatives come November. Trump and Obama (and their admirers) are slugging it out, both claiming that it is their policies that have led to the ongoing economic expansion, […]

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Trump Budget Chief Shuts Down Consumer ‘Protection’ Bureau ‘Slush Fund’…

An educational “slush fund” used by the Consumer Financial Protection Bureau has come under the “strictest review” by acting director Mick Mulvaney amid concerns the Obama-era agency has been doling out cash only to Democratic cronies. Mulvaney, President Trump’s budget chief who has been temporarily installed at the agency the president once promised to kill, […]

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China Reports Biggest-Ever Annual Trade Surplus With U.S….

China reported its largest-ever annual trade surplus with the U.S. last year while its overall imbalance with the world shrank, potentially strengthening the Trump administration’s case for tougher penalties and other trade actions against Beijing. A global recovery led by the U.S. provided a shot in the arm for Chinese exporters last year, boosting China’s […]

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Treasury and IRS Release New Guidance on Tax Withholding…

The IRS and Treasury Department on Thursday issued new guidance on tax withholding from employees’ paychecks, a key step in its implementation of the new tax law that President Trump signed last month. The new guidance will allow many taxpayers to start seeing bigger paychecks due to the new law. The IRS is instructing employers […]

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Walmart Closes 63 Sam’s Clubs After Announcing Bonuses Attributed to Tax Cuts…

Walmart is shuttering 63 Sam’s Club stores around the country, an announcement that came shortly after the company said it would be rewarding its employees with up to $1,000 in bonuses because of the new tax cuts that were just signed into law. Some of the stores were closed Thursday, including several in the Houston […]

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China Weighs Slowing or Halting Purchases of U.S. Treasuries…

China added to bond investors’ jitters on Wednesday as traders braced for what they feared could be the end of a three-decade bull market. Senior government officials in Beijing reviewing the nation’s foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries, according to people familiar with the matter. The news comes as global […]

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Brinks Reports Theft of Mysterious $11 Million International Gold Shipment…

Over the past year, we reported several brazen, and very significant, gold thefts, usually occurring in broad daylight, among which” – Massive 100 Kilogram Gold Coin Worth $4.5 Million Stolen From German Museum; Man Steals $1.6 Million Bucket Full Of Gold In Midtown Manhattan In Broad Daylight; “Seems Like An Inside Job” – Brazen Thief […]

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The Real Future of Work…

In 2013, Diana Borland and 129 of her colleagues filed into an auditorium at the University of Pittsburgh Medical Center. Borland had worked there for the past 13 years as a medical transcriptionist, typing up doctors’ audio recordings into written reports. The hospital occasionally held meetings in the auditorium, so it seemed like any other […]

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Why 2018 Will Be a Banner Year for Worker Wages…

The wealthy will see too much of the new tax cuts — but workers will benefit, too. The liberal media has been replete with pronouncements that the Trump tax cuts are a giveaway to the top 1 percent and provide only meager benefits to working-class households. Trump’s economic advisers, by contrast, claim the new law […]

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Report: 10% of Amazon Employees in Ohio Are on Food Stamps…

A new report claims that ten percent of Amazon’s Ohio workforce is receiving food stamps. The Columbus Dispatch reports that Amazon has made the list of huge companies where workers are still forced to claim food stamps after a new report revealed that ten percent of the companies workforce in Ohio have been claiming federal […]

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Food Stamp Recipients Down 2M Under Trump, USDA Figures Show…

Since Donald Trump became president, the Dow Jones industrial average has climbed to 25,000 and fewer Americans are unemployed. Another interesting fact: The number of people collecting food stamps has declined by more than two million. Data released by the Department of Agriculture show that the number of participants in the Supplemental Nutrition Assistance Program […]

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