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 […]
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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 […]
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 — […]
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“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 […]
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