In a speech that struck all the right platitudes with this pro-globalization audience, Xi Jinping, the first Chinese president to attend Davos, slammed protectionism, defended globalization and free trade, drawing a line between himself and Donald Trump…and said he has no intent to boost China’s competitiveness through Yuan devaluation…
Finance
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Obama Slashes Mortgage Insurance Premiums For Subprime Borrowers With Just 10 Days Left In Office…
Cory Booker Joins Senate Republicans to Kill Measure to Import Cheaper Medicine From Canada…
Bernie Sanders introduced a very simple symbolic amendment Wednesday night, urging the federal government to allow Americans to purchase pharmaceutical drugs from Canada, where they are considerably cheaper. Such unrestricted drug importation is currently prohibited by law. The policy has widespread support among Americans: one Kaiser poll taken in 2015 found that…
Thinking about Having a Child? Gov’t Estimates $233,610 Raising A Child Born In 2015…
Thinking about having a child? Check your balance sheet. The Department of Agriculture estimates that an infant born in 2015 to a middle-income, married-couple family will end up costing between $12,350 and $13,900 each year — or $233,610 from birth to age 18…
U.S. To Sell First 8 Million Barrels From Strategic Reserves…
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Alibaba Hopes to Create 1 Million U.S. Jobs…
“We’re focused on small business,” Ma told reporters. “We specifically talked about … supporting 1 million small businesses, especially in the Midwest of America. Small businesses on the platform selling products — agriculture products and America services — to China and Asia, because we’re pretty big in Asia”…
FBI Arrests Volkswagen Exec Charged with Conspiracy to Defraud the U.S….
Oliver Schmidt, who headed [VW] regulatory compliance office in the U.S. from 2014 to March 2015, was arrested on Saturday by federal investigators in Florida. In 2015, Mr. Schmidt acknowledged the existence of a so-called defeat device that allowed Volkswagen cars to cheat emissions tests…
Analysis: GM Lied to the Public & Trump On Vehicles Made in Mexico…
On Tuesday, president-elect Trump tweeted about General Motors, stating the GM was building its Chevrolet Cruze in Mexico, importing them to the US tax-free, and selling them at US car dealers. GM quickly denied Trump’s tweet. But auto enthusiast E.W. Niedermeyer sheds light on some facts of GM’s tall tale…
‘Audit the Fed’ Bill Gets New Push…
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My Political-Financial Road Map for 2017 by Nomi Prins…
The central bank subsidization of the financial system (especially in the US and Europe) that began with the Fed invoking zero interest rate policy in 2008, gave way to international distrust of the enabling status quo that unfolded in different ways across the planet. My prognosis is for more destabilization, financially and politically. In other […]
Jon Corzine Settles Over MF Global Collapse: Agrees To Lifetime Ban, $5 Million Fine…
Corzine agreed to pay a $5 million civil fine to settle a lawsuit by the U.S. Commodity Futures Trading Commission over the 2011 collapse of the former New Jersey governor’s brokerage, MF Global Holdings. More importantly, under the settlement disclosed on Thursday, Corzine also agreed to be barred for life and never again work for […]
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Treasury Nominee Steve Mnuchin’s Bank Accused of “Widespread Misconduct” in Leaked Memo…
OneWest Bank, which Donald Trump’s nominee for treasury secretary, Steven Mnuchin, ran from 2009 to 2015, repeatedly broke California’s foreclosure laws during that period, according to a previously undisclosed 2013 memo from top prosecutors in the state attorney general’s office…
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A Well-Kept Open Secret: Washington Is Behind India’s Brutal Demonetization Project…
Obama has declared the strategic partnership with India a priority of his foreign policy. China needs to be reined in…the US government’s development agency USAID has negotiated cooperation agreements with the Indian ministry of finance. One of these has the declared goal to push back the use of cash in favor of digital payments in […]
U.S. Middle Class Still Suffering from Rockefeller-Kissinger Industrial Transfer Scheme to China…
When Henry Kissinger and David Rockefeller met with Zhou Enlai in China in 1973—just after President Richard Nixon had visited China establishing official relations—an understanding was reached whereby the U.S. would supply industrial capital and know-how to China…
Finland Tests Guaranteed Income…
Finland has started a radical experiment: It’s giving 2,000 citizens a guaranteed income, with funds that keep flowing whether participants work or not. The program, which kicks off this month, is one of the first efforts to test a “universal basic income.” Participants will receive €560 ($587) a month — money that is guaranteed regardless […]
U.S. Quietly Drops Bombshell: Wall Street Banks Have $2 Trillion European Exposure
According to a report quietly released by the U.S. Treasury’s Office of Financial Research less than two weeks before Christmas, another financial implosion on Wall Street can’t be ruled out…
Ford Cancels $1.6B Mexico Plant, to Invest $700M at Flat Rock, MI, Plant…
Ford Motor Co. is canceling plans to build at $1.6 billion plant in San Luis Potosi, Mexico, and will invest $700 million at its Flat Rock Assembly Plant to create 700 new jobs there. Flat Rock will get a new manufacturing innovation center, and the factory will be capable of producing electrified and autonomous vehicles, […]
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Did Big Media Run Fake Headlines on the Deutsche Bank “Settlement”?…
In the case of the announcement late last Thursday evening that Deutsche Bank and the U.S. Justice Department had reached an agreement to settle claims against the bank for allegedly swindling investors in the sale of toxic residential mortgage backed securities, all that could be heard was the sound of one hand clapping in a […]
The Reason the Fed is Raising Rates, and Why It Won’t Work by Mike Whitney…
Why is the Fed creating incentives for US corporations to destroy themselves? Why is the Fed pushing insurance companies and retirement funds into bankruptcy? Why is the Fed raising interest rates when inflation is still well below its 2 percent target? Things are not always what they seem. In theory…
Microsoft Will Be First Company to Reach $1 Trillion Dollar Valuation…
In an article for Equities, Michael Markowski said Microsoft will beat other competitors to the landmark valuation as a result of its recent acquisition of LinkedIn, which he predicts will grow exponentially in the coming years as more people turn to the site to build their professional profile…
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