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…
Finance
Latest News
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…
Trump’s $1 Trillion Infrastructure Plan: Lincoln Had a Bolder Solution by Ellen Brown…
Donald Trump was an outsider who boldly stormed the citadel of Washington DC and won. He has promised real change, but his infrastructure plan appears to be just more of the same – privatizing public assets and delivering unearned profits to investors at the expense of the people. He needs to try something new…
Obstructionist SEC Chair Steps Down…
Mary Jo White, the head of the Securities and Exchange Commission, announced Monday that she will step down two years before the end of her term, clearing the way for President-elect Donald Trump to reshape the way Wall Street is regulated…
Mexico and Canada Announce Willingness to Renegotiate NAFTA…
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)…
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”…
Related
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…
Related
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…
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