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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Iceland Declares 2008 Financial Crisis Finally Over…
The Iceland Ministry of Finance and Economic Affairs has announced that it will lift capital controls on individuals, firms, and pension funds that were imposed following the 2008 global financial crisis from 14 March. It also said that overseas krona holders will be allowed to resume transactions with the Central Bank under certain conditions over […]
Spicer: Trump still wants Glass-Steagall Back
Sean Spicer said during today’s White House press briefing that President Trump remains committed to restoring Glass-Steagall, which effectively prohibits commercial banks from engaging in investment banking. The rule originally became law in 1933, but most of it was rescinded in 1999. The Republican Party platform last summer called for establishing a more modern version…
Where The Jobs Were: Manufacturing, Construction Workers Soar…
There has been a distinct shift in the composition of job gains in the first full job report under Donald Trump: whereas in the recent past, jobs under Obama were mainly focused in low-paying, minimum-wage categories, such as retail, hospitality, education and, of course, food service and drinking places, in February there was a notable […]
31 Senators Call for More Foreign Workers to Replace Blue-Collar Americans…
Thirty-one Democratic and Republican Senators are asking the Department of Homeland Security to maximize the use of blue-collar outsourcing visas so U.S. companies can import more foreign workers instead of recruiting, training and paying unskilled U.S. workers. The bipartisan request comes three months after the shocking November vote pressured GOP leaders to slash the H-2B […]
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Trump’s 2017 Trade Agenda: Signs of a Sensible Direction…
Since the Trade Act of 1974, Congress has required the administration each year to submit an annual “trade policy agenda” outlining its goals for the coming year. It has long been a welcome exercise in transparency, forcing the administration to articulate for the Congress – which retains the constitutional authority over foreign trade – its […]
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The Next Domino to Fall: Commercial Real Estate…
Unless the Federal Reserve intends to buy up every dead and dying mall in America, this is one crisis that the Fed can’t bail out with a few digital keystrokes. Just as generals prepare to fight the last war, central banks prepare to battle the last financial crisis–which in the present context means a big-bank […]
Mexico Cancels Sugar Export Permits to U.S. in Trade Dispute…
Mexico has canceled existing sugar export permits to the United States in a dispute over the pace of shipments, according to a letter seen by Reuters, in a flare-up industry sources said could temporarily disrupt supplies. The letter sent by Mexico’s sugar chamber to mills on Monday partly blamed the situation on unfilled positions at […]
BOOM: US Adds Nearly 300,000 Jobs In February…
Trumps first months in office saw massive employment growth with US companies adding almost 300,000 jobs in February, exceeding economist expectations by 100,000. This includes over 60,000 construction jobs, over 30,000 manufacturing jobs, and nearly 10,000 mining jobs. ADP, a human resources firm, published the report. “February proved to be an incredibly strong month for […]
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Senate Rescinds Obama’s Blacklist Rule…
The Senate voted to roll back an Obama executive order that would have shut out businesses undergoing labor disputes from obtaining federal contracts. The Senate passed a resolution Monday evening to reverse the “blacklisting” rule, which would force companies to disclose any allegations of unfair labor practices when bidding for federal contracts. Previously, contractors were […]
Secretary Ross Imposes $1.19B Fine Against Chinese Company…
Commerce Secretary Wilbur “Wolverine” Ross put the trade world on notice today when he announced a staggering $1.19 billion penalty on Chinese company ZTE for violating U.S. sanctions and selling electronics to Iran and North Korea. China’s ZTE has agreed to pay the United States the fine. Remember, in China all private businesses are politically […]
REPORT: Why Central Banks Were Forced To Rig The Gold Market…
According to newly uncovered information in the gold market, it provides additional evidence of why the Fed, Central Banks and the IMF were forced to RIG the gold market. Not only was the dropping of the Gold-Dollar peg going to release a great deal of pressure on the manipulated gold price, but forecasts of a […]
Global FBI Sting Arrests 20 in Israel of Fraud, Extortion, Money Laundering…
Suspects allegedly impersonated top executives of firms in US, France, Poland and India, and tricked lower-level staff into transferring them huge sums of company money. Israel Police arrested 20 people this week in conjunction with a global FBI sting against an international crime ring that has allegedly scammed tens of millions of dollars from individuals […]
How to Provide Universal Health Care Using This One Easy Trick by Ann Coulter…
The first sentence of Congress’ Obamacare repeal should read: “There shall be a free market in health insurance.” Right there, I’ve solved the health insurance crisis for 90 percent of Americans. Unfortunately, no one can imagine what a free market in health care looks like because we haven’t had one for nearly a century…
The Fed Has Now Set the Stage for An Ides of March Moment…
Whether or not one agrees that the Federal Reserve is preparing to raise rates again at its upcoming meeting this March, one thing is certain: The Fed. has done everything shy of setting its hair-on-fire to leave little doubt that they are seriously considering it. As of this past Friday the consensus (or odds) for […]
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