Speaking during a first of its kind meeting dedicated only to members of the U.S. conservative media, including Breitbart News, OANN and Daily Caller, President Trump told reporters to expect a 20% tariff on softwood lumber coming into Canada. “We’re going to be putting a 20 per cent tax on softwood lumber coming in — […]
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“The Retail Bubble Has Now Burst”: A Record 8,640 Stores Are Closing in 2017…
The devastation in the US retail sector is accelerating in 2017, and in addition to the surging number of brick and mortar retail bankruptcies, it is perhaps nowhere more obvious than in the soaring number of store closures. While the shuttering of retail stores has been a frequent topic on this website, most recently in […]
Secretary Wilbur Ross Speaks to Capacity of U.S. Steel Industry…
The Department of Commerce initiated an investigation under Section 232 of the Trade Expansion Act of 1962. The technical caption is 19 USC 1862. What that’s all about is that authorizes the Secretary of Commerce to conduct comprehensive investigations to determine the effects of imports of any particular item into the United States on the […]
STUDY: Medical Marijuana Program ‘could save U.S. taxpayer $1B a Year’…
A new study claims that medical marijuana use directly correlates with a decline in prescription drug use, which could save the US taxpayer up to $1.1 billion a year on Medicaid prescriptions. The research follows up on another study carried out last year by Ashley Bradford and W. David Bradford which found that taxpayers would […]
Breaking Up the Big Wall Street Banks Is Back in the Headlines…
In the past two weeks, newspaper headlines have revived the debate on whether the mega Wall Street banks continue to pose a systemic threat to the U.S. banking system and the economy. This is a desperately needed public debate that demands facts – not a revisionist history of what actually caused the 2008-2010 Wall Street […]
Why “Nothing Matters”: Central Banks Have Bought a Record $1 Trillion in Assets in 2017…
A quick, if familiar, observation to start the day courtesy of Bank of America which in the latest overnight note from Michael Hartnett notes that central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, “the largest CB buying […]
Taxpayer-Funded Duck Penis Researcher Now Studying Whale Penises…
A leading researcher on a ridiculed taxpayer-funded study of duck penises is now using her expertise on orca whales and is going to the “March for Science” to protest budget cuts. Patricia Brennan, a visiting lecturer at Mount Holyoke College in Massachusetts, worked on the duck penis study that received $384,949 from the National Science […]
Stock Markets Sit Blithely on a Powerful Time Bomb…
No one knows the full magnitude, but it’s huge. How big is margin debt really, and how much of a threat is it to the stock market and to “financial stability,” as central banks like to call their concerns about crashes? Turns out, no one really knows. What we do know: Margin debt, as reported […]
U.S. Oil & Gas M&A Sees Best Q1 Ever…
U.S. oil and gas mergers and acquisitions in Q1 2017 hit a record high value for a first quarter, boosted by a wave of mega deals and the attractive Permian shale play, PwC said on Thursday in its US Oil & Gas Deals insights. Investor enthusiasm was high in the first quarter this year, driven […]
Wall Street Is Pouring Money Back Into Shale…
With oil prices seemingly on firm footing, Wall Street is pouring money back into the shale sector, expecting profits even at $50 per barrel. The private equity industry raised an estimated $19.8 billion in funds for energy investment in the first quarter of this year, or about three times as much as the same period […]
Stocks and Precious Metals Charts – Paper, Numbers, and Dreams…
“The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickled down. Put it uphill and let it go and it will reach the driest little spot. But he didn’t know that money trickled up. Give it […]
Trump To Pick Shadow Banker For Key Fed Post…
The Federal Reserve’s vice chair for supervision is arguably the most important financial regulator in the federal government. No agency has greater oversight responsibility of U.S. financial institutions than the Fed. And the vice chair influences what kinds of trades those institutions can make, how they must prepare for unexpected losses, and what punishment to […]
Tucker Carlson Takes on Mark Cuban Over H1B Visa Laws (VIDEO)…
The minimum wage for H1B visa recipients is $60,000, unchanged from 1989. Let me emphasize that for you. Our government is permitting companies to bring in foreign skilled labor at 1989 wages, completely undercutting the American workforce and driving down wages. Annually, there is a quota of 85,000 new visas, with 20,000 reserved for master’s […]
Fannie and Freddie Finally Wake Up…
Spring is in the air signaling the start of homebuying season. But here in Las Vegas, buyers “are aplenty,” 1st Realty Group owner Thomas Blanchard tells the Las Vegas Review Journal, but “we just don’t have the properties to sell them.” It hardly seems possible, not enough homes for sale. After all, squatting in bank-owned […]
House Republicans Reveal Dodd-Frank Reform…
Members of the House banking panel revealed a 600-page proposal Wednesday evening to roll back the Dodd-Frank Act. The bill is the most aggressive plan so far by Republican leadership in Congress to loosen financial regulations after the financial crisis of 2007. President Donald Trump has taken the lead thus far for Republicans on banking […]
44% Of Americans Won’t Pay Any Federal Income Tax…
Many Americans won’t owe the government a dime today. More than four in 10 American households (44.3%) — or upwards of 76 million — didn’t pay any income tax to the federal government last year, according to data for 2016 from the Tax Policy Center. This year that number is expected to be roughly the […]
Meet the Banksters Whistleblower: Lucifer’s Banker (VIDEO & TRANSCRIPT)…
Brad Birkenfield, author of Lucifer’s Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy, recounts the efforts he uncovered by his employer to help its clients cheat the US government out of tens of $billions in taxes. But despite his working with the government closely to expose the gigantic conspiracy between US-based tax […]
The Trump Reflation Fantasy Ends on Day 100 by David Stockman…
In honor of the Donald’s “Mother of All Bomb” (MOAB) attack on the Hindu Kush mountains Thursday, let me introduce MOAD. I’m referring to the “Mother of All Debt” crises, of course. The opening round is coming when Washington goes into shutdown mode on April 28, which happens to be Day 100 of the Donald’s […]
Here Are the Stores Taking Hits, Closing Hundreds of Locations Nationwide…
For the retail industry’s brick-and-mortar stores, the realities of online shopping and changing tastes have driven down sales, causing hundreds of locations to close their doors. So what’s the status of the stores making headlines these days? Here’s a quick guide…
Big Pharma Funds “Independent” Advocacy Groups Attacking Drug-Price Reduction Bill…
Advertisements from seemingly independent advocacy groups are swamping Beltway newspapers with dire warning that recent proposals to lower drug prices will lead to dangerous consequences. In the last week alone, the ads have appeared in the Washington Post, Washington Times, Roll Call, The Hill, and Politico. The groups placing the ads have no obvious connection […]
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