Donald Trump is not yet president, and yet within 24 hours of winning the election both Mexico (link) and Canada (link) announce they are willing to begin renegotiation’s of the North American Free Trade Agreement (NAFTA)…
Finance
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General Motors to Lay Off 2k in Ohio and Michigan…
General Motors (GM) announced Wednesday that it would be letting go 2,000 employees in the Midwest as the result of what they believe is a continued shift from small cars to crossovers and trucks. The plants affected by the layoffs build cars for Chevrolet and Cadillac…
It’s Alive–U.S. Trade Rep: Congress Has the Votes to Pass TPP…
U.S. Trade Representative Michael Froman says Congress has the votes to pass the Trans Pacific Partnership agreement if it is brought up for a vote. “If they [House and Senate leaders] bring it forward, I think we can get the votes there”…
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REPORT: U.S. Manufacturing Economy Fails Employers and Workers…
James L. Brown tried to hire a dozen workers for his metal foundry here. Half of them flunked the drug test. Those results are typical, says the president of Bremen Castings Inc, a family-owned employer of 350 workers who make parts for trucks and other equipment…
Cigna Will Not Expand Obamacare Coverage As Planned…
Cigna has announced that it will not expand Obamacare coverage as it had originally planned, Forbes reported. While the insurer will still sell coverage in seven states, it will hold back on expansion due to being cautious about the future of Obamacare…
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Wall Street’s Apologist-in-Chief Mansplains Regulation to Senator Warren by William K. Black…
When last I wrote of Roger Lowenstein he was complaining that the Wall Street felons were being criticized – not jailed – criticized. Lowenstein is Wall Street’s self-appointed apologist-in-chief. Naturally, he despises Senator Warren…
Toyota Invests in U.S. Car-Sharing Service…
Toyota Motor Corp on Friday said it has invested in U.S. car-sharing company Getaround, a move that comes as global automakers seek to shore up their presence in new technology sectors amid growing competition from transport startups…
World Bank Appoints Kristalina Georgieva as Chief Executive…
Kristalina Georgieva, a former head of EU humanitarian affairs and vice-president of the European commission, has been appointed chief executive of the World Bank…
Judge Approves $15B Court Settlement in VW Emissions-Cheating Scandal…
A federal judge in San Francisco has approved a $15-billion court settlement of most claims against Volkswagen for its emissions-cheating scandal…
Robert Scheer and David Dayen Uncover Untold Stories of the Mortgage Crisis…
Dayen tells Scheer that anger over foreclosures has fueled this year’s bitter and unusual presidential race. The two also discuss why, despite the best efforts of the book’s subjects, little has been done to mitigate homeowners’ losses…
Goldman Sachs Top Lawyer Is Part of a Secret Banking Cabal as CEO Blankfein Denies One Exists…
Faber asked Blankfein: “So am I to take it that you weren’t meeting in secret with international banks and Hillary Clinton to plot the destruction of U.S. sovereignty?”…
Here’s Why Goldman Paid Clinton a Bundle for That Speech…
It may be more illuminating to look at these events from the other side, from the perspective of what Goldman Sachs wanted to get out of them. That reveals something interesting about how large corporations try to…
Never Before Seen Secret Memo On AIG Bailout From Fed’s Tarullo To Obama Revealed In Podesta Emails…
Hank Paulson and Ben Bernanke, in which Tarullo was told on a “confidential basis that, before the markets open tomorrow morning, they will be announcing a significant restructuring of the AIG bailout package…
Inside the Secret Society of Wall Street’s Top In-House Lawyers…
It’s a Wall Street club that’s virtually unknown on Wall Street. It has no name or official membership list, and it meets only once a year, in locations such as Switzerland’s Lake Lucerne…
The Billion Barrel Oil Swindle: 80% Of U.S. Oil Reserves Are Unaccounted-For…
U.S. crude oil storage is filling up with unaccounted-for oil. There is a lot more oil in storage than the amount that can be accounted for by domestic production and imports…
Nearly 7 in 10 Americans Have Less Than $1,000 in Savings…
The U.S. is often referred to as the land of economic opportunity. Apparently, it’s also the land of consumption and “spend everything you’ve got”…
Since 2014, the US Has Added 547,000 Waiters and Bartenders and Lost 32,000 Manufacturing Workers…
As another month passes, the great schism inside the American labor force get wider. We are referring to the unprecedented divergence between the total number of high-paying manufacturing jobs…
Leaked EU Declaration on Canada Trade Deal, CETA…
“Now that TTIP is widely acknowledged to be effectively dead, Brussels is doing all it can to salvage CETA. The declaration has no legal basis, is devoid of substance and only goes to show how desperate”…
SDR World Order by James Corbett…
The IMF is formally adding the Chinese renminbi (aka the yuan) to their “Special Drawing Rights” basket on Saturday, October 1st. The move boosts the yuan to the status of global reserve currency alongside its basketmates, the pound, the euro, the yen and the dollar…
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Apple Is Named the Biggest U.S. Corporate Tax Avoider Booking $218 FRIGGIN BILLION Dollars of Profit in Offshore Accounts…
Apple has been named as the biggest corporate tax avoider in the United States after booking $218.55 billion (£171.6 billion) of profit offshore last year. The tech giant was able to save $65.08 billion (£51.1 billion) that it should have paid in tax thanks to its convoluted arrangements…
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