Back in mid-January Bridgewater’s Ray Dalio, speaking at the World Economic Forum in Davos, offered up his first thoughts on the populist wave sweeping across the globe (we covered it here). And, once you’ve recovered from the laughing fit inspired by the irony of a bunch of billionaires sitting around discussing their displeasure with the […]
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Rich Get Even Richer…
Microsoft co-founder Bill Gates has has retained the title of the world’s richest man for the fourth year in a row, with a record 2,043 billionaires worldwide, Forbes magazine’s annual list revealed. Bill Gates wealth has been estimated by Forbes at $86 billion as the tech mogul and philanthropist earned around $11 billion over the […]
The True Legacy Of David Rockefeller…
No one person encapsulates the enduring legacy of the “robber barons” of the Industrial Age quite like David Rockefeller. Rockefeller, who died today at the age of 101, was the last surviving grandson of John D. Rockefeller, the oil tycoon who became America’s first billionaire and the patriarch of what would become one of the […]
No, the Trump Budget Is Not Cutting the Meals on Wheels Program…
Various media outlets have published articles claiming that the Trump administration’s federal budget will eliminate funding for the Meals on Wheels program, whose volunteer drivers deliver hot meals to senior Americans across the country. But the federal budget is cutting funds to a federal grant program that provides just three percent of the Meals on […]
Fox News Pulls Judge Napolitano Off Air Due To Prior Comments on UK Trump Surveillance…
Apparently Rupert Murdoch has taken action against Judge Andrew Napolitano as an outcome of his broadcast report on British Intelligence coordinating surveillance activity with the NSA – Backstory HERE – A few weeks earlier Napolitano was on Fox Business News saying President Trump was the first president to confront The Deep State…
Trump Adviser Is Betting Millions of Dollars That Trump Will Take His Advice…
Carl Icahn, the high-stakes financier who has been using his position as a Trump adviser to push for a major rule-change affecting the ethanol industry, is now literally betting millions of dollars on financial markets that Trump will take his advice. As previously reported at The Intercept, Icahn has pushed to get the Environmental Protection […]
Yellen’s Effed up Attack on Working People, Sad by Mike Whitney…
Why did the Fed raise its benchmark interest rate when inflation is still running below the Fed’s target, workers wages have hardly budged and the economy is not even growing at 1 percent? Yellen was asked that question at a press conference on Wednesday following the release of the FOMC’s statement. Her answer helps to […]
Subway Sues TV Network over ‘Soy Chicken’ Report…
Subway is crying fowl over claims that its chicken is loaded with soy fillers — this time in court. The fast-food chain has slapped the Canadian Broadcasting Corp. with a lawsuit over an TV expose last month that claimed its chicken was only about 50-percent poultry and the rest of it soybeans, The Post has […]
President Trump Delivers His Fiscal Year 2018 Budget Outline – (Full pdf included)…
A MESSAGE TO THE CONGRESS OF THE UNITED STATES: The American people elected me to fight for their priorities in Washington, D.C. and deliver on my promise to protect our Nation. I fully intend to keep that promise. One of the most important ways the Federal Government sets priorities is through the Budget of the […]
Home Builder Confidence Soared to Highest Level in 12 Years…
The nation’s home builders couldn’t be happier with President Trump’s first move to roll back strict environmental rules. A monthly index of builder sentiment jumped six points to the highest level in 12 years. The National Association of Home Builders/Wells Fargo Housing Market index hit 71 in March, a sizable jump from 58 in March […]
“This Is Not The Reaction The Fed Wanted”: Goldman Warns Yellen Has Lost Control Of The Market…
With stocks soaring briskly around the globe following Yellen’s “dovish” hike, and futures set for a sharply higher open with the Nasdaq approaching 6,000, something surprising caught our attention: in a note by Goldman’s Jan Hatzius, the chief economist warns that the market is overinterpreting the Fed’s statement, and Yellen’s presser, and cautions that it […]
Goldman Sachs: Almost One Million H-1B Foreign Workers Hold University-Level Jobs Here…
Goldman’s February estimate of the huge H-1B population also ignores multiple other visa programs which invite foreign graduates to work in the United States. These other temporary work visas are used to employ an additional 470,000 foreign college graduates in the United States, according to a study released on March 7 by the left-of-center Economic […]
Preet Bharara Explains Why He Let Wall Street Bank Executives Avoid Prison…
Recently dismissed U.S. Attorney for the Southern District of New York, Preet Bharara, is suddenly being celebrated as an aggressive warrior in the fight against Wall Street corruption. Really? You could’ve fooled me. Perhaps I was in a coma when a string of big bank executives were arrested and sent to prison. No, what actually […]
Until the Banking System Is Reformed, There Will Be No Sustainable Recovery…
The Fed did what was entirely expected today, and did it with a pedestrian view towards the future increases. Slow and steady. And so the markets were ‘surprised’, the dollar dumped hard, stocks rallied, and gold and silver got some legs higher. Today was more a ‘technical event’ than anything else. In other words, it […]
Janet Yellen Explains Why She Hiked In A 0.9% GDP Quarter…
It appears that, the worse the economy was doing, the higher the odds of a rate hike. Putting the Federal Reserve’s third rate hike in 11 years into context, if the Atlanta Fed’s forecast is accurate, 0.9% GDP would mark the weakest quarter since 1980 in which rates were raised (according to Bloomberg data)…
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Stronger Economic Growth? Over My Dead Body, Says Janet Yellen…
The U.S. economy is weak. Very weak. But the Federal Reserve is planning to raise interest rates anyway. Why? Here’s what’s going on: According to the Atlanta Fed the US economy is expected to grow at a respectable 2.8 percent for the first quarter of 2017 That’s not bad considering that, for the entire year […]
Trump’s Infrastructure Boondoggle…
Donald Trump’s $1 trillion infrastructure plan is not an infrastructure plan and it won’t put $1 trillion of fiscal stimulus into the economy. It’s basically a scheme for handing over public assets to private corporations that will extract maximum profits via user fees and tolls. Because the plan is essentially a boondoggle, it will not […]
What Went Wrong in Wall Street Reform: Obama Versus FDR…
Following the Wall Street crash of 1929, thousands of banks failed in the United States. More than 3,000 banks went under in 1931 followed by more than 1400 the following year. There was no Federal insurance on bank deposits in those days so both depositors and shareholders were wiped out or received pennies on the […]
Gold & Silver Manipulation: The Biggest Financial Crime In History…
As this immensely profitable fraud has been perpetrated, the MFM have bombarded the populace with a propaganda campaign that smears and mis-characterizes gold. Rising precious metals prices are always presented as being ominous, negative and inimical to the people, while declining prices are consistently placed in a favorable light. This propaganda has been carefully crafted […]
H-1B Visas Cost Americans Jobs and Suppress Wages, Economists Find…
The H-1B visa program costs American workers jobs and suppresses their wages, while substantially increasing profit margins for tech firms, economists conclude in a study published in February. If tech companies were unable to import temporary foreign workers, employment in the tech industry for American workers would have been up to 10.8 percent higher in […]
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