On Wednesday, Janet Yellen testified before the House Financial Services Committee. Though the hearings lost much of their appeal when Dr. Ron Paul retired from Congress, the House Republicans have maintained a reputation for being far more hostile to the Federal Reserve than their colleagues in the Senate — managing to generate some worthwhile moments. […]
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IEA: U.S. to Become World’s Biggest LNG Exporter by 2022…
Exports of liquefied natural gas (LNG) from the United States are going to overtake those of Australia and Qatar, making the country the world’s largest supplier, according to the latest report by the International Energy Agency (IEA). The agency says more than half of the natural gas produced in the US will be converted to […]
Court House Doors Will Reopen for Millions of U.S. Consumers…
Yesterday, Richard Cordray, the Director of the Consumer Financial Protection Bureau (CFPB) that was created in 2010 under the Dodd-Frank financial reform legislation, did what few Americans thought he would dare to do: he stood up to threats of being fired; threats of backlash from Wall Street titans; threats of having his agency’s budget gutted; […]
Trump Energy Policy May Finally End the Rule of OPEC…
In November 2014 I wrote about the attack OPEC started on the American oil industry. Saudi Arabia said it wanted to put the American frackers out of business. Then-President Barack Obama did nothing. He was opposed to the oil industry and was more in favor of non-carbon based sources of energy. OPEC bet their countries’ […]
Missouri Rolling Back Minimum Wage From $10 To $7.70…
As rallies across the country have demanded an increase in the minimum wage to $15 per hour, one state is reducing its legal lowest rate. Missouri is rolling back its minimum wage from $10 to $7.70. Missouri Gov. Eric Greitens, in office since January, is allowing a bill passed by the Republican-controlled state legislature to […]
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ADP Employment Disappoints – No Manufacturing Jobs Gained in June…
After jumping heroically in May, ADP reported a disappointing 158k employment gain in June (188k exp.) and revised May’s exuberance notably lower (253k to 230k). While ‘soft’ survey data suggests empoloyment should be resurging, the hard numbers are disappointing again. Medium-sized firms dominated the gains (+91k vs Small firms 17k and Large firms +50k).Perhaps most […]
How to Keep Amazon from Eating Your Business, Too…
It has become a truism that software is eating the world. Perhaps that now extends to Amazon’s acquisition of Whole Foods. This purchase is surely funded in part by the astronomical growth of Amazon Web Services, which is estimated to have made $14 billion in revenue last year — just slightly more than the purchase […]
How Uber’s Tax Calculation May Have Cost Drivers Hundreds of Millions…
Amid the turmoil at Uber that resulted in Travis Kalanick’s stepping down as chief executive, the company announced a series of changes in late June aimed at improving its drivers’ work experience, including a new tipping option in its passenger app. But even as Uber makes a concerted effort to win over drivers, it has […]
Quelle Surprise! Study Confirms that ACA Narrow Networks Exclude Top Cancer Doctors…
Lambert and once in a great while yours truly have written about one of the nasty-by-design ways insurers game Obamacare: via so-called narrow networks. Bear in mind that there is no precise definition, but a “narrow network” is one that restricts access to specialists. We’ve pointed out that this feature can allow insurers to engage […]
American as Exporter: Energy Superpower ‘Saudi America’ Has Been the World’s Largest Petroleum Producer for 26 Months in a Row…
The Energy Information Administration (EIA) released new data today on international energy production for the months of November and December 2014, and here are some highlights of that update: For the 26th month in a row starting in November 2012, “Saudi America” took the top spot again last December as the No. 1 petroleum producer […]
“Fyre Festival” Founder Arrested For Fraud, “Promising A Life-Changing Event But Delivering A Disaster”…
It’s been just over two months since thousands of attendees at an ill fated music festival in the Bahamas were left to fend for themselves in a Millennial’s worst nightmare of dying cell phones, cardboard sandwiches, burning tents, roving bands of thieves, feral dogs, and worst of all – anarchy at the bar. Advertised as […]
The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way…Imagine the Interest Paid on that Debt…
The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers. Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation. As the elite get governments around the globe in increasing amounts […]
CBO Predictions About The Senate Health Care Bill Are Deeply Flawed…
If you want to understand the utter absurdity of the CBO’s predictions of health insurance coverage under GOP health care proposals, all you have to do is look at the three major GOP health care bills from the last two years: The Restoring Americans’ Healthcare Freedom Reconciliation Act (H.R. 3762), the American Health Care Act, […]
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How Bad Is the Crisis in Illinois? It Has $14.6B That’s BILLION with a ‘B’ in Unpaid Bills…
This is what happens when a major American state lets its bills stack up for two years. Hospitals, doctors and dentists don’t get paid for hundreds of millions of dollars of patient care. Social-service agencies help fewer people. Public universities and the towns that surround them suffer. The state’s bond rating falls to near junk […]
19th Obamacare Co-Op Folds, Leaving Only 4 Operating in 2018…
Minuteman Health of Massachusetts and New Hampshire announced it is withdrawing from the Affordable Care Act exchanges in 2018, leaving only four co-ops in operation. The co-op will stop writing business on January 1 and organize a new company, Minuteman Insurance Company, instead. The company cited issues with Obamacare’s risk-adjustment program, which is the program […]
The Subtle Approach Apple Is Using to Become a Bank…
At WWDC a few weeks ago, there was a short segment where apple introduced a new feature for iMessage. In iOS 11, they now allow people send cash to one another. It’s the same thing as Venmo. They don’t charge you a fee. It’s just, “Hey Bobby, here’s $20 that I owe you from dinner […]
Supermarkets Set to Introduce ‘Surge Pricing’ in Their Stores According to Demand…
Shoppers could be asked to pay more for ice-cream on a warm summer’s day as US-style ‘surge pricing’ looks set to hit UK shops. Major British retailers are exploring using new technology to constantly change prices according to demand in shops. The model is used widely in Europe and the US and by the popular […]
Seattle’s Painful Lesson: How to Hurt Low-Wage Workers, Increase Minimum Wage to $15 Minimum Wage…
In the summer of 2014, the Seattle City Council unanimously passed a bill increasing the city’s minimum wage to $15 an hour. “No city or state has gone this far. We go into uncharted territory,” said council member Sally Clark. The City of Seattle, to its credit, actually made some effort to chart the waters […]
FLASHBACK: The Federal Reserve Cartel: The Eight Families – Part 1/4…
According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.[1] So who then are the stockholders in these money center banks? This information is guarded much more closely. My queries to bank regulatory agencies regarding stock ownership in the […]
California to Officially List Key Ingredient in Monsanto’s Roundup as Cancer-Causing…
Glyphosate, the main ingredient in Monsanto’s widely used herbicide Roundup, will be added July 7 to California’s list of chemicals known to the state to cause cancer, according to a Reuters report Tuesday. This news comes after the company’s unsuccessful attempt to block the listing in trial court and requests for stay were denied by […]
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