For the past several months we’ve observed in complete amazement as Democrats have repeatedly hailed the ‘great accomplishments’ of Obamacare while the system was literally, and quite tangibly, collapsing in epic fashion all around them. The latest evidence of Obamacare’s “death spiral” comes from the state of Maryland where insurers have just submitted their rate […]
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House GOP Just Voted to Slash Medicaid — Which Pays for 60 Percent of People in Nursing Homes…
The American Health Care Act, which squeaked through the House of Representatives on Thursday, is terrible for many Americans in many ways. But what’s gotten almost no attention is the horrendous effect it could have on Americans in nursing homes. Daniel Webster, a Republican representative from the 11th Congressional District in central Florida, acknowledged this […]
Republicans Vote to Bring Back “Compensatory Time” Option For Workers…
The various media pundits and news stories are calling H.R. 1180 a “new overtime bill”. However, in reality the ‘take pay or take time off’ concept is more than 50 years old; we used to call it “compensatory time” or “comp time”…
China’s Plan to Subvert the Global Dollar Standard…
If nothing else, the Chinese have a sense of history and destiny. They have had a glorious past, stretching back millennia, and once controlled most of the Asian heartland in the days of Genghis and Kublai Khan. But even then, China was essentially inward-looking, protecting her own cultural values. Trade with Europeans in the centuries […]
Here’s Why Trump Is Talking about Breaking Up the Biggest Wall Street Banks…
Yesterday, Bloomberg News reporters Jennifer Jacobs and Margaret Talev snagged an interview with President Donald Trump. Headlines quickly spread that during the interview Trump had indicated he was looking at breaking up the biggest Wall Street banks (so that commercial banks holding taxpayer-backstopped deposits were no longer under the same ownership as the high-risk…
Public Employees and the Shadow World of American Carnage…
A new report from the Congressional Budget Office provides an eye-opening answer to the question by examining a sector of the labor market whose wages have been largely shielded from the effects of trade deals, immigration, and job-killing regulation. These workers receive wages and benefits that are, on average, about 17 percent higher than workers […]
Saudis Now Fully Own America’s Biggest Oil Refinery…
Saudi Aramco has become a 100-percent owner of Port Arthur, an oil refinery in Texas. Port Arthur has a capacity of 600,000 barrels per day, making it the biggest in North America. The kingdom’s national oil company previously owned 50 percent in the refinery before acquiring the full stake from Royal Dutch Shell on Monday. […]
OPEC Deal Backfires: Saudis Lose Market Share to Iran, Iraq…
Since the start of OPEC’s production cuts, oil market analysts and experts have been focusing on how U.S. shale would respond to the relatively higher and stable oil prices, possibly eating up some of the cartel’s global market share while the cuts last. The market share war is also going on a micro level within […]
Mexico Invites Big Oil to Propose Offshore Blocks for Development…
Mexico will be happy to receive suggestions for offshore blocks to be included in the December bidding round for its section of the Gulf of Mexico, the country’s deputy energy minister said yesterday at an event in Houston. Speaking at the opening of the Offshore Technology Conference, Aldo Flores Quiroga added that oil companies have […]
Why Democrats Are Delighted With The Republican Spending Bill…
Why were Democrats unable to hide their enthusiasm for the latest Omnibus spending bill proposed by House Republicans? Simple: because, as the Washington Examiner’s Philip Klein writes, “Dems basically got everything. It’s like they control House, Senate, & WH rather than the other way around”…
IMF Tells Governments How to ‘Subvert’ Public Resistance Against Elimination of Cash…
The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing”. It gives advice to governments who want to abolish cash against the will of their citizenry. Move slowly, start with harmless seeming measures, is part of that advice. In “The Macroeconomics of De-Cashing”, IMF-Analyst Alexei Kireyev recommends in his conclusions…
The Power of Gold: Why Deutsche Bundesbank Had to Promise to Leave 1200 Tons in New York…
With big fanfare, Deutsche Bundesbank announced on February 9 that ahead of plan they had repatriated 300 tons of gold from New York. This put a positive spin on a rather disturbing fact –1236 tons of gold that is supposed to be part of Germany’s currency reserve will continue to be kept outside of German […]
Man Trump Named to Fix Mortgage Markets Figured in Infamous Financial Crisis Episode…
In early 2007, a group of Morgan Stanley bankers bundled a group of subprime mortgage instruments into a package they hoped to sell to investors. The only problem was, they couldn’t come up with a name for the package of mortgage-backed derivatives, which they all knew were doomed. The bankers decided to play around with […]
Oil And Gas Industry Power Builds Wells Near Schools In Colorado, Trumping Environmental Concerns…
The political power of the oil and gas industry has been on display in Colorado this Spring. When an explosion earlier this month incinerated two men in a Colorado home near an aging oil well, the catastrophe could have prompted lawmakers to pass an initiative forcing the oil and gas industry to site such wells […]
Despite the New ‘Plan’, This Is -Stilla-a-No-Brainer Tax Strategy…
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 […]
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 […]
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