To the delight of Donald Trump, just before 2am on Saturday morning the Senate passed the Republican Tax bill in a 51-49 vote, and with tax reform legislation now passing both chambers of Congress it looks very likely to become law by year-end, probably within the next two weeks according to Goldman Sachs which now […]
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Top GOP Senators Say They Have the Votes to Pass Tax Bill…
Republicans have clinched the 50 votes need to pass their tax plan, after three key holdouts came on board. The move puts the legislation on a path to clear the upper chamber as soon as Friday and puts Senate Republicans on the brink of a significant legislative and political victory. Senate GOP leadership has been […]
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All You Need to Know About Bitcoin’s Rise, From $0.01 to $11,000…
The initial price of bitcoin, set in 2010, was less than one cent. On Nov. 29, it crossed $11,000. Once seen as the province of nerds, libertarians and drug dealers, bitcoin today is drawing millions of dollars from hedge funds. The recent price surge may be a bubble. Or it could be a belated recognition […]
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CFPB Collects Fines From Banks and Gives to Left-Wing Activist Groups…
Holman Jenkins had an excellent editorial at the Wall Street Journal on Wednesday with a timely reminder of the several ways in which the Consumer Financial Protection Bureau, created by Dodd-Frank in 2010, is basically a rogue agency in the U.S. federal government. The reminder is timely, of course, because of the attempt by the […]
Dow Rips 331 Points Higher, Closes Above 24,000 as Chances of Senate Tax Bill Passing Rise…
Stocks rallied on Thursday as the possibility of the Senate passing a bill aimed at overhauling the U.S. tax code increased. The Dow Jones industrial average surged 331.67 points to close above 24,000 for the first time, with United Technologies leading advancers on the 30-stock index. The S&P 500 advanced 0.8 percent to close at […]
NFL CAVES: League to Donate $100 MILLION to ‘Social Justice’…
The National Football League officially surrender to their protesting players on Wednesday, vowing to donate upwards of $100 million in an “unprecedented” move to appease athletes who choose to “take a knee” during the US national anthem. According to ESPN, officials announced the decision this week; submitting a draft proposal that would allow players and […]
Gorsuch Comes Out Swinging in Dodd-Frank Whistleblower Case…
Justice Neil Gorsuch used a challenge to federal whistleblower protections before the Supreme Court on Tuesday to take aim at a core legal tenet of which he has long been critical. The case at issue stems from Digital Realty Trust’s firing of Paul Somers in 2014. Somers challenged his firing under the Dodd-Frank Wall Street […]
Senate GOP Votes to Begin Debate on Tax Bill…
The Senate voted to begin debate on its tax cut bill Wednesday, edging Republicans closer to their first major legislative victory under President Trump as they seek to finish the chamber’s work on the measure by the end of the week. Senators voted 52-48 to take up the House-passed legislation, which is being used as […]
Consumer Confidence Highest Since December 2000…
The Conference Board said that consumer sentiment was at its highest level in nearly 17 years in November. The Consumer Confidence Index rose from 126.2 in October to 129.5, notching its best reading since December 2000 for the second month in a row. Americans were more upbeat in their assessments of both current (up from […]
Trump Administration Grants Permit for Oil Company to Explore Drilling in Acrtic Ocean…
The Trump administration on Tuesday approved an oil company’s request to drill an exploratory well on a man-made artificial island in the Arctic Ocean. The Bureau of Safety and Environmental Enforcement granted a permit for Italian oil company Eni SpA to drill an exploratory well in the Beaufort Sea to test production conditions there, the […]
Chinese Investors Sue McAuliffe, Hillary’s Brother, Anthony Rodham, Over Green-Car Investments…
Virginia Governor Terry McAuliffe and former Democratic presidential candidate Hillary Clinton’s brother Anthony Rodham are facing a $17 million fraud lawsuit from Chinese investors in Greentech Automotive, an electric car company that appears to be struggling to survive. A group of 32 Chinese citizens filed the suit last week in Fairfax County, Virginia court, claiming […]
Frequent Flier Miles Are Kaput—The Game’s About Credit Cards Now…
A time for turkey, a time for uncomfortable political discussions, a time for the most nightmarish airplane trips imaginable. Roughly 24 million Americans will fly with US airlines this week, and a lot of them will be thinking: Hey, at least I’ll come out of this misery with some frequent flier miles for that solo […]
An Accomplishment! House Passes Good Flood-Insurance Reform…
It wasn’t easy, but House Republicans, who battled through the summer and fall against members of their own party, finally managed to negotiate bipartisan passage of flood insurance reform last week. To secure sufficient buy-in from coastal Republicans, key concessions were made, but the final product was worth the compromise. “Everything is a compromise in […]
U.S. New-Home Sales Unexpectedly Rise to Highest in a Decade…
U.S. purchases of new homes unexpectedly advanced in broad fashion last month, reaching the strongest pace in a decade and offering an encouraging signal for residential construction, according to government data released Monday. Single-family home sales rose 6.2% m/m to 685k annualized pace (est. 627k), the highest since Oct. 2007, a revised 645k rate…
Mulvaney Freezes Out Rival Official at CFPB as Battle for Control Heads to Court…
President Trump’s pick to lead the Consumer Financial Protection Bureau seized the reins of the agency Monday morning amid a heated battle over who’s in charge, firing off a memo instructing staff to disregard directives from a rival official. That official, Leandra English, was named acting director by the outgoing Obama-appointed head of the bureau. […]
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Feds Spend $709,334 Studying How to Prevent Obese Women From Getting Pregnant…
The National Institutes of Health is spending over $700,000 studying ways to make emergency contraception more effective to prevent obese women from becoming pregnant. The study, being conducted by Oregon Health and Science University, began late last year. Researchers say “unfortunately,” obese women are more likely to become pregnant after taking the “morning after pill”…
Paradise Papers: Your Retirement Cash May Be in the Caymans. Can You Get It Back?…
The release of the so-called “Paradise Papers” touched off new scrutiny of how moguls, celebrities and politicians stash their cash in offshore tax havens. The practice, though, is hardly limited to the global elite. In fact, government documents show that state and local officials have sent hundreds of billions of dollars of public sector workers’ […]
Bikini-Bearing Baristas Battle Bureaucrats Who Claim They’re “Turning Men Into Harvey Weinsteins”…
Welcome to ‘Grab’n’Go’ Bikini Hut – a coffee shop in Washington State that offers coffees, teas(e), and other hot liquids made by bikini-clad baristas. The city of Everett, about 30 miles north of Seattle, is home to numerous bikini barista espresso stands, where servers dressed in everything from tasteful two-piece swimsuits to pasties and G-strings […]
NY Fed Raises GDP Forecast, DOW Closes New Record…
Almost too much winning… almost, but I think we can take it. The New York federal reserve has raised their anticipated fourth quarter GDP growth forecast to 3.8%. That’s only a week after previously raising it to 3.2%. The Stock Market closes again at yet another all time high today…
NAFTA Round #5 Reaches Impasse on Critical Auto Sector – Canada/Mexico Balk At Rules of Origin…
$64 billion of the current annual trade deficit with Mexico stems from the auto sector alone. For over a decade auto manufacturers have moved to Mexico in order to import parts from Asia, assemble and install them, and then ship the completed cars into the U.S. through NAFTA without duties (tariffs). The U.S. auto ancillary […]
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