With Macy’s making the headlines in the past few days on speculation it was shopping itself for a potential buyer, a thesis first laid out by David Einhorn one year ago, moments ago the WSJ reported that Hudson’s Bay, the Canadian owner of Saks and Lord and Taylor, has made a takeover approach for the […]
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The End of Employees…
No one in the airline industry comes close to Virgin America Inc. on a measurement of efficiency called revenue per employee. That’s because baggage delivery, heavy maintenance, reservations, catering and many other jobs aren’t done by employees. Virgin America uses contractors…
First Trillionare??? Rothschild’s?!?…
Bill Gates is set to become the world’s first trillionaire within 25 years. And that’s despite the Microsoft founder’s “commendable efforts” to try and share it around, a report by Oxfam into poverty inequality has found…
How We the People Were Screwed by Obama’s Bogus “Recovery” by Mike Whitney…
It’s amazing how Obama was able to dupe the American people into believing that the weakest expansion in the postwar era, was an “economic recovery.” Frankly, it boggles the mind. Think about it for a minute: Productivity, business investment, personal consumption, inflation and growth have all been either sputtering-along at half speed or at historic […]
“This Is Unacceptable” – Congressman Slams Yellen For Prioritizing Foreign Banks Over “America’s Interests”…
The-Other-“Ban” that Was Quietly Announced Last Week…
Most of the world is in an uproar right now over the travel ban that Donald Trump hastily imposed late last week on citizens of seven predominantly Muslim countries. But there was another ban that was quietly proposed last week, and this one has far wider implications: a ban on cash…
Donald Trump Has a Goldman Sachs Problem: Derivatives…
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 […]
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 […]
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