President-elect Trump’s ‘Business Advisory Panel’ is ‘a disparate cacophony of voices from wildly different businesses ranging from Boeing, a commercial jet manufacturer, to the Cleveland Clinic with no representation at all from labor or consumers, the panel has an outsized representation from the financial sector with one particularly curious member…
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Saudi Arabia Surrenders To U.S. Shale…
The new OPEC deal to cut oil output – the cartel’s first since 2008 – amounts to nothing less than Saudi Arabia’s surrender to the power of American shale…Unwittingly, the Saudis have made the Americans the new global energy swing producer, the permanent ceiling for the global price of oil…
How Russia Outsmarted OPEC…
OPEC’s historical deal to cut production has been sealed, and oil prices have jumped as a result, comfortably above the $50 per barrel mark. According to Lukoil’s vice president, Leonid Fedun, the average price of crude in 2017 could reach US$60 a barrel, thanks in no small part to that agreement…
Deutsche Bank Pays $60 Million To Settle Gold-Manipulation Lawsuit…
2016 is shaping up as the year when countless conspiracy theories will be confirmed to be non-conspiracy fact: from central bank rigging of capital markets, to political rigging of elections, to media rigging of public sentiment, and now, commercial bank rigging of both silver and gold…
The Shocking Truth About How Barack Obama Was Able To Prop Up The U.S. Economy…
Barack Obama is one of the biggest “Keynesians” of all time, but unfortunately most Americans don’t even understand what that means. In this article, I am going to share with you the primary reason why Barack Obama has been able to prop up the U.S. economy over the past eight years…
Where The November Jobs Were: Accountants, Nurses, Waiters, Government And Part-Time Workers…
Something remains very broken with the US labor market: while the unemployment rate just dropped to the lowest since August 2007, wage growth dropped as well and on a year over year basis, rose just 2.5%, far below the 3.8% it was when the unemployment rate last hit 4.7%…
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Here’s Why Mexico’s Central Bank Chief Resigns…
Media reports of Agustin Carstens resignation as chief of Mexico’s central bank have left MSM pundits and even business analysts scratching their heads. It appears no-one has any idea why Carstens is leaving… well, almost no-one…
REPORT: Amazon’s Stranglehold – How the Company’s Tightening Grip is Stifling Competition, Eroding Jobs and Threatening Communities…
Amazon has quietly positioned itself at the center of a growing share of our daily activities and transactions, extending its tentacles across our economy, and with it, our lives. Today, half of all U.S. households are subscribed to the membership program Amazon Prime…
The Electoral Consequences of Globalization…
Undoubtedly there are U.S.-specific factors that are relevant, such as racial divisions in voting patterns. But the election took place after the British vote to withdraw from the European Union and the rise to power of conservative politicians in continental Europe, so it is reasonable to ask…
A Short Round Up of Ross and Mnuchin Financial Comments this Week…
The Treasury market reacted this morning to a very cursory comment by Treasury Secretary nominee Steven Mnuchin that the average maturity of the debt should be extended since interest rates are likely to be low for a few more years. This comment seems like more of an excuse than a reason for the market’s move…
On Krugman and the Working Class…
That Krugman can wonder at the source of the disdain felt toward the liberal elite while lecturing Trump’s voters on their own self-interest is really quite remarkable. I don’t know that the white working class voted against their economic interest. I don’t pretend that I can define their preferences with such accuracy…
Meet The Man Who Made The OPEC Deal Possible…
Going into the Algiers OPEC meeting in late September, the prevailing sentiment among the analyst community was that there is no way any deal will get done…However, the deal did happened, surprising virtually everyone, and based on a new Reuters report, it was thanks to one man…
Man Steals $1.6 Million Bucket Full Of Gold In Midtown Manhattan In Broad Daylight…
Police released footage on Tuesday of what may be the luckiest theft in recent history. In the clip, a man brazenly swipes an 86-pound bucket full of gold worth $1.6 million from the back of an unattended armored truck on West 48th Street in the Diamond District on Sept. 29, in broad daylight…
OPEC Agrees to Cut Oil Output by 1.2 Million Barrels per Day – Bloomberg…
OPEC will reduce production by 1.2 million barrels a day to 32.5 million a day, two delegates said Wednesday during a ministerial meeting in Vienna, asking not to be identified as the decision isn’t yet public. Benchmark Brent crude rose 8 percent to $50.07 a barrel…
Big Names Take Hit on Theranos…
Theranos Inc. received much of its funding from high-profile private investors who weren’t part of the ecosystem that typically backs startups and could see their stakes wiped out by the blood-testing company’s regulatory and technological troubles…
Obama Grants Airbus License to Sell Commercial Aircraft to Iran…
The Obama administration has approved the sale of 106 Airbus planes to Iran. But the move rests on precarious ground as US President-elect Donald Trump is likely to overturn it when he takes charge in January…
Economist Who Predicted Brexit & Trump Brilliantly Explains Capitalism’s Collapse…
Mark Blyth, who accurately predicted Brexit and Trump explains in clear language how globalization and capitalism are failing people throughout the world and why that means more Brexits and Trumps are on the way…
Daimler to Invest $11B in Electric Cars…
German firms are investing heavily in electric cars, once shunned for their high cost and limited operating range but now benefiting from recent advances in battery technology and a backlash against diesel fumes. Technological advances to increase the reach of an electric car by up to 50 percent…
Top 0.7 Percent of World’s Population Controls $116.6 Trillion of Wealth…
The most recent review shows that nearly half the world’s wealth — or about $255 trillion, which makes up 45.6 percent of the world’s wealth — is owned by a mere 0.7 percent of the world’s population. Meanwhile, 73.2 percent of the world only holds about $6 trillion of the world’s wealth…
Judge Blocks Obama Overtime Rule…
The Labor Department’s contentious overtime rule was blocked Tuesday by a federal judge in Texas, putting one of President Obama’s top regulatory initiatives in jeopardy…
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