Yesterday I recorded a new podcast with my US-based tax attorney to talk about the Trump administration’s new tax plan… or as I like to call it, the plan to have a plan. Clearly they’re trying to do something positive and significant. But to say that their strategy is light on details at just a […]
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Trump’s Tax Plan Will Be Biggest Tax Cut, Largest Tax Reform in History…
President Donald Trump’s tax reform plan will be the biggest tax cut and the largest tax reform in history, Treasury Secretary Steven Mnuchin said. Mnuchin, speaking at an event Wednesday morning hosted by The Hill, said that Trump’s proposed plan would be released later in the day and would outline principles of tax reform that […]
AUDIT: Univ of California’s Pres, Janet Napolitano, Paying Excessive Salaries and Mishandling of Funds…
The administration of the University of California system pays top workers salaries significantly higher than that of similar state employees, has provided millions of dollars in benefits not typical to the public sector and failed to disclose to the Board of Regents and the public that it had $175 million in budget reserve funds, a […]
Feds Approve Company to Export 2.21B Cubic Feet of Natural Gas Daily…
Golden Pass, a US company that operates a liquefied natural gas (LNG) terminal in the state of Texas, has been granted a license to export 2.21 billion cubic feet per day, the US Department of Energy announced in a press release on Tuesday. The deal allows exports to any country that is not subject to […]
Baby Boomers Borrowed $100BN in Student Loans for Their Children and Now Defaults Are Soaring…
America’s snowflake millennials aren’t used to being told ‘no’, especially by their parents. Perhaps that’s why, as we pointed out a few days ago, more millennials than ever are now living at home with mom and roughly one quarter of them don’t even both to enroll in classes and/or find a job. But, when it […]
New Snowflake Study Proves Kanye Right: “That Major That She Majored In Don’t Make No Money”…
A few days ago we noted that a record number of millennials are now graduating college and promptly moving back home with mom and dad. Adding insult to injury, at least for mom and dad anyway, roughly one-quarter of those millennials living in the proverbial basement are unemployed can’t be bothered with the hassle of […]
Trade Wars Begin: Trump Announces 20% Tariff On Canadian Softwood Lumber Imports…
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 — […]
Related
“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 […]
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