In the midst of being skewered across media outlets yesterday for his chaotic rollout of an Executive Order that appeared to target Muslims, including those legally living in the U.S. as businessmen, doctors, university faculty and students — who were initially denied reentry after travel abroad — President Donald Trump tried desperately to change the […]
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Mexico Begins Consultations to Set Parameters for Renegotiation of NAFTA…
Mexico will begin a formal 90-day process of consultations with the private sector to fix the parameters for renegotiation of the North American Free Trade Agreement (NAFTA) with the United States and Canada, the Mexican Foreign Ministry said Wednesday…
Is the H1-B Visa Battle Heating Up?: “Hire American” – Wall Street/Tech/GOPe Prepares for Battle…
”There are trillions of dollars at stake” … In addition to the content, pay close attention to the timing of policy delivery and the sequencing within the policy delivery. With the outline of the visa suspension as lead-in toward a security policy, President Trump is also now entering economic policy phase 2. It is all […]
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The Goldman Sachs Effect: How a Bank Conquered Washington by Nomi Prins…
Irony isn’t a concept with which President Donald J. Trump is familiar. In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation’s capital has reaped the rewards of government while the people have borne the cost. Washington flourished — but the people […]
Judge Blocks Monsanto’s Bid to Stop California From Listing Glyphosate as Carcinogenic…
California could become the first state to require Monsanto to label its glyphosate-based herbicide, Roundup, as a possible carcinogen following Fresno County Superior Court Judge Kristi Kapetan’s tentative ruling on Friday…
A $500B Pot of Gold: How Boston Consulting and Google Pushed Modi to End the Era of Cash…
Boston Consulting Group (BCG), the omnipresent US-consulting company, and Google, the global data miner, issued a joint report in July 2016 on the “$500 bn Pot of Gold”, which is the Indian digital payment market. Even though the authors deny it, the report gives much reason to suspect that the authors knew that something radical […]
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Is This “Big Mac” Vending Machine Going to Replace $15 Per Hour Fast Food Workers?…
Dear Bernie, as you continue in your never-ending “Fight for $15“, we thought you might benefit from a simple example of how economics work in a real life, functioning, capitalistic society. You see, Bernie, labor, much like your daily serving of crunchy granola, is just another “good” that businesses can choose to consume more or […]
Is it Just a Coincidence That the Dow Has Hit 20,000 at the Same Time the National Debt Is Reaching $20 Trillion?…
The Dow Jones Industrial Average provides us with some pretty strong evidence that our “stock market boom” has been fueled by debt. On Wednesday, the Dow crossed the 20,000 mark for the first time ever, and this comes at a time when the U.S. national debt is right on the verge of hitting 20 trillion […]
Mnuchin Doesn’t Support Auditing the Fed. Backs Independence…
U.S. Treasury Secretary nominee Steven Mnuchin isn’t jumping on the Republican bandwagon to audit the Fed. In written questions by senators following his confirmation hearing on Thursday, Mnuchin was asked about his thoughts on “politicizing decisions made by the Federal Reserve Board of Governors and the benefits of an independent central bank.”
Dow Sets First Ever Close Above 20,000 as Trump Orders Send Stocks on a Tear…
Stocks rose on Tuesday, the first trading day of 2017, but closed off their session highs as oil prices gave back initial gains. “When oil started to slip and the dollar peaked, that’s when you saw stocks fall off a bit,” said Robert Pavlik, chief market strategist at Boston Private Wealth. “I think, near term, […]
Agents Seize Approximately $20 Million Hidden in a Bed and Arrest Brazilian National in Scheme to Launder TelexFree Funds…
Approximately $20 million in cash hidden inside a box spring in a Westborough, Mass. apartment, was seized late yesterday, and a Brazilian man was arrested in connection with conspiring to launder proceeds of the massive TelexFree pyramid scheme.
Fed Debate Over $4.5 Trillion Balance Sheet Looms in 2017…
It’s time to talk about the balance sheet. Eight years after the Federal Reserve launched the first of three controversial bond-buying campaigns to help save the U.S. economy, its holdings are stuck at $4.5 trillion, and the question of when to let them shrink is beginning to simmer…
Head of the Consumer Financial Protection Bureau Used Private Device for Gov’t Communications…
Richard Cordray, head of the Consumer Financial Protection Bureau (CFPB), used a private device for government communications, and didn’t create appropriate records of those messages with the bureau. A longtime Democrat from Ohio, Cordray has served as head of the CFPB since January 2012, a position he is scheduled to hold through July 2018…
Senate Democrats Introduce $1 Trillion Infrastructure Plan, Offer Trump Support if He Backs it…
Senate Democrats are set to unveil a $1 trillion infrastructure plan and offer President Donald Trump their support if he backs it, the NYT reports. The plan includes $180 billion to rail and bus systems, $65 billion to ports, airports and waterways, $110 billion for water and sewer systems, $100 billion for energy infrastructure, and […]
When Their Shifts End, Uber Drivers Set Up Camp in Parking Lots Across the U.S….
The vast majority of Uber’s full-time drivers return home to their beds at the end of a day’s work. But all over the country, there are many who don’t. These drivers live near, but not in, expensive cities where they can tap higher fares, ferrying wealthier, white-collar workers to their jobs and out to dinner—but […]
Citigroup’s Crime Spree Against Americans Continues With Slaps on the Wrist…
Yesterday, the Consumer Financial Protection Bureau (CFPB) charged two units of the Wall Street mega bank, Citigroup, with insidious fraudulent acts against homeowners while it imposed a modest $28.8 million in relief and penalties. The penalty portion of $7.4 million is meaningless because this is a bank that serially breaks the law, laughs at its […]
It’s Who Was Not at The White House During TPP E.O. Signing That Also Tells a Story…
Yesterday President Trump held a day of meetings with corporate business titans, CEO’s, and also skilled labor union officials. However, two men were transparently absent from both group meetings: U.S. CoC President Tom Donohue, and AFL-CIO President Richard Trumka…
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Nobody ‘Stealing’ Your Jobs, You Spend to Much on Wars, Alibaba Tells U.S….
Chinese billionaire and Alibaba founder Jack Ma believes that improper distribution of funds and hyper inflated US military spending, not globalization or other countries “stealing” US jobs, is behind the economic decline in America. The Chinese business magnate earlier in January met with US President-elect Donald Trump, who has bemoaned the loss of American industry…
Judge Blocks Giant Health Insurance Merger…
A federal judge on Monday blocked the merger of two of the largest health insurers in the country on antitrust grounds. Judge John Bates of the U.S. District Court for the District of Columbia ruled that the merger of Aetna and Humana would unacceptably cut down competition in Medicare Advantage and in the ObamaCare marketplaces…
City Devastated by OxyContin Use Sues Purdue Pharma, Claims Drugmaker Put Profits over Citizens’ Welfare…
A Washington city devastated by black-market OxyContin filed a first-of-its-kind lawsuit against the painkillers’ manufacturer Thursday, alleging the company turned a blind eye to criminal trafficking of its pills to “reap large and obscene profits” and demanding it foot the bill for widespread opioid addiction in the community…
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