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…
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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…
Crisis at the Federal Reserve. The End of the Washington Consensus? Nomi Prins on GRTV…
Nomi Prins talks about the changing economic and monetary landscape and how the locus of central bank power is shifting to the East, with players like the People’s Bank of China gaining in prominence and former US/EU lapdogs like the IMF becoming brokers for these new power players in the new world financial order…
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Obama Blocks New Offshore Drilling in Arctic for Next Five Years…
US President Obama has declared parts of the Arctic off-limits to new oil and gas drilling until 2022. Environmental groups have praised the move while Republican lawmakers have said they will try to overturn the plan…
Lame Duck Obama Cancels Oil And Gas Leases On Gov’t Land…
The Department of the Interior will cancel oil and natural gas leases on land supposedly sacred to the Blackfeet tribe. The tribe says that the land is a critical part of its creation story — one that’s supported by Interior Secretary Sally Jewell. But is the land actually sacred?…
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Permian’s Wolfcamp Formation Called Biggest Shale Oil Field in U.S….
One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed…
What Will Trump Do About The Fed, The Debt Ceiling, And Trade: His Key Economic Advisor Explains…
David Malpass, a Trump economic advisor, has been tasked with overseeing the transition for the Treasury Department and economic policy. Last month, Malpass addressed a group of economists and reporters in Washington, laying out the Trump’s economic vision ahead of his election…
Eight Years Later, Taxpayers Are Still Bailing Out Wall Street…
Eight-years after taxpayers rescued the U.S. financial system, some of the country’s largest banks, including JPMorgan Chase and Wells Fargo, continue to receive billions in bailout money, according to government data…
Government Workers Now Outnumber Manufacturing Workers by 9,977,000…
The United States lost 9,000 manufacturing jobs in October while gaining 19,000 jobs in government, according to data released by the Bureau of Labor Statistics…
Trump Prepares to Takeover the Fed…
In Donald Trump’s first four years as president, he will not only choose three judges for the Supreme Court, he’ll also pick five of the seven members on the Fed Board of Governors. It would be impossible to overstate the effect this is going to have on the nation’s economic future…
Trumpgasm Sends Stocks To Longest Win Streak In 13 Years Despite Currency, Curve, & Credit Carnage…
Collapsing currencies, bond bloodbaths, soaring cost of funds, and crumbling crude… Fuck that! Stock indices are at record highs!!!!…
Total Oil Company to Install 5k Solar Panels at Gas Stations, First Step to Convert to EV Charging Stations…
Total, the major French multinational oil and gas company, announced today a $300 million investment to install about 200 MW of solar capacity at 5,000 gas stations around the world. The investment is being presented as a way for Total’s operations to reduce its carbon footprint…
Ex-Secretary of State George Shultz’s Grandson Revealed as Theranos Whistleblower…
The Theranos employee who reported the medical tech company to US regulators for allegedly doctoring its trials of a blood-testing device is the grandson of George Shultz, it has emerged. Tyler Shultz, now 26, was working for Theranos – where his 95-year-old ex-Secretary of State grandfather sits on the board…
Obama On Pace To Increase The Debt By Stunning $2.4 Trillion This Year
OK, this is pretty nuts. According to data released by the Treasury Department yesterday, the US national debt has soared by a whopping $294 billion since the start of the 2017 fiscal year, just 45 days ago. That’s an annualized increase of 13%…
U.S. Economic Outlook – Fed Res Chair Janet Yellen’s Remarks Before Joint Economic Committee…
The U.S. economy has made further progress this year toward the Federal Reserve’s dual-mandate objectives of maximum employment and price stability. Job gains averaged 180,000 per month from January through October, a somewhat slower pace than last year but still well above estimates…
Three Federal Studies Show Fed’s Stress Tests of Big Banks Are Just a Placebo…
The only thing standing between the American people and another apocalyptic financial collapse among by the biggest banks on Wall Street is the Federal Reserve’s stress tests and capital requirements. After Wall Street laid waste to the U.S. housing market and economy…
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