There should be a way to make sure President Donald Trump is acquitted every day. Major stock market indexes were up sharply on Wednesday as the Senate prepared to vote to acquit the president of the two charges brought against him by a narrowly partisan vote in the House of Representatives. It was the third […]
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GM to Invest $2.2 Billion at Detroit Factory to Make Electric Trucks, SUVs…
General Motors Co will invest $2.2 billion in its Detroit-Hamtramck assembly plant to build electric trucks and sport utility vehicles, a move that would create 2,200 jobs, the No.1 U.S. automaker said on Monday. The company said its first electric truck will be a pickup, whose production will begin late next year and will be […]
Fed Repos Have Plowed $6.6 Trillion to Wall Street in Four Months; That’s 34% of Its Feeding Tube During Epic Financial Crash…
According to the data made available on the public website of the New York Fed, since September 17, 2019 it has funneled a cumulative total of $6.6 trillion to some of the 24 trading houses on Wall Street that are known as its “primary dealers.” The giant sum has been sluiced to Wall Street in […]
Ex-Wells Fargo CEO Banned from Banking Industry, Fined $17 Million in Fake-Account Scandal…
A U.S. regulator on Thursday banned former Wells Fargo’s CEO John Stumpf from working in the banking industry and forced Stumpf to pay a $17.5 million fine over his role in the bank’s fake-accounts scandal. Stumpf and seven other of the firm’s former executives were charged by the U.S. Office of the Comptroller of the […]
Good Riddance to Obama’s ‘Joint Employer’ Rule…
For all their triumphalist talk of ascendant demography and permanent majorities, Democrats have never really come to terms with the slow death of the labor movement. Unions have never been less relevant than they are today in the modern economy. Where they have not been obviated by workplace health and safety rules, they are being […]
What Are 2019’s Tax Brackets, and Who Gets Audited the Most?…
The federal government taxes people based on how much they make each year. Seven tax brackets — based on income ranges — determine how much you pay…In addition to those brackets, there are four main categories, also known as “statuses,” that affect how you are taxed…
Bernie Sanders Hasn’t Quite Captured What Wall Street Does: It’s Actually a Fraud-Monetization System with a Money-Printing Unit Called the New York Fed…
Senator Bernie Sanders has come closer than anyone on the Presidential campaign trail in defining what Wall Street actually does. Sanders has repeatedly stated at his rallies that “the business model of Wall Street is fraud.” That analysis is correct but abbreviated. Sanders needs to go further. It’s not just Wall Street’s business model that […]
944 Trillion Reasons Why the Fed Is Quietly Bailing Out Hedge Funds…
On Friday, Minneapolis Fed president Neel Kashkari, who just two months earlier made a stunning proposal when he said that it was time for the Fed to pick up where the USSR left off and start redistributing wealth (at least Kashkari chose the proper entity: since the Fed has launched central planning across US capital […]
High Court Refuses to Fast-Track Obamacare Appeal…
Declining to take up the dispute before Election Day, the Supreme Court on Tuesday rejected a plea by the House of Representatives and a coalition of mostly Democrat-led states to expedite review of Texas’ lawsuit seeking to invalidate the Affordable Care Act. The high court’s one-sentence order hands the Trump administration and 18 Republican-led states […]
Kudlow: Fed’s T-Bill Purchases Are “Basically” QE…
Back in October, when the Fed restarted permanent open market operations in the form of $60BN in T-Bills purchases each month, Powell scrambled to convince the market that his panicked effort to inject reserves into banks (such as JPMorgan which single-handedly triggered the repo crisis) so that trillions in levered hedge fund pair trades did […]
89-10: Senate Ratifies USMCA Trade Agreement…
The Senate on Jan. 16 approved the U.S.–Mexico–Canada Agreement (USMCA) in an 89 to 10 vote, giving President Donald Trump another victory on trade. The Senate approval comes a day after Trump signed the “phase one” trade deal with China that marked a milestone in the nearly 2-year-old trade dispute between the world’s two biggest […]
Peter Navarro: “The Two Greatest Days in U.S. Trade Policy History”…
White House Manufacturing Policy Advisor, Peter Navarro, appears on Fox Business with Charles Payne to discuss the ramification of China ‘phase-one’ and the USMCA for the middle-class blue-collar economy. Excellent interview…
Investors Eye Corporate Earnings as Bank of America Profits Drop 4%, Goldman Sachs Fall 24%…
Bank of America announced a 4 percent drop in net income for the final quarter of 2019, while that of Goldman Sachs fell by 24 percent. Investors, meanwhile, are eyeing numbers closely as the financial reporting season comes into full swing and income growth of firms listed on the S&P 500 in previous quarters has […]
U.S., CHINA SIGN PHASE ONE OF TRADE DEAL…
The United States and China signed a much anticipated “phase one” trade deal on Jan 15, making an important breakthrough in the nearly 2-year-old trade war. President Donald Trump and China’s Vice Premier Liu He signed the accord at a White House ceremony. “Together we are righting the wrongs of the past and delivering a […]
Related
U.S.T.R. Robert Lighthizer Discusses China “Phase One” and Enforcement Tripwires…
U.S. Trade Representative Robert Lighthizer is a smart, serious and deliberate professional on a very specific and important mission for the United States. In my opinion Lighthizer is the most under-appreciated member of an exceptionally good economic team. Everything about Lighthizer’s approach is based on enforcement. Ambassador Lighthizer has been consistent over multiple years, on […]
Are the Fed’s Repo Loans Being Repaid by Wall Street’s Trading Houses or Just Rolled Over and Over?…
Last Friday, the usually reliable and fact-intensive financial website, Wolf Street, threw a hissy fit over how the Wall Street Journal (and by extension, Wall Street On Parade) is reporting the tallies for the repo loans that the New York Fed has been pumping out every business day since September 17, 2019 to the trading […]
Born Right: Chelsea Clinton Has Made $9M Sitting on Corporate Board…
Chelsea Clinton has made $9 million in under nine years while serving on the board of an internet investment company, according to Barron’s. According to the report, Clinton receives an annual salary of $50,000 and $250 in restricted stock units from IAC/InterActiveCorp, which owns such brands as Vimeo, College Humor, OkCupid, Tinder, Angie’s List and […]
GM and Ford Shock Over 1,500 Temp Auto Workers with Full-Time Promotions…
One of the key sectors gaining benefit from the USMCA trade agreement is the auto sector. Rules on steel and aluminum smelting/origination, and rules on part origination from North America are key aspects to the trade agreement that shifts focus from the import of Asian manufactured parts for assembly to manufacturing in North America. Essentially, […]
ADP Payroll Release: December Employment Jumps +202,000…
A new ADP Payroll Report shows job gains of 202,000 from November to December 2019 far surpassing expectations. The increase was the largest gain since April ’19: “largest gain since April, driven mainly by professional and business services. Job creation was strong across companies of all sizes, led predominantly by mid-sized companies.” The ADP National […]
U.S. Trade Deficit Hits 3-Year Low: ‘Trump’s China Hard Line Is Working’…
The United States’ November 2019 trade deficit fell to its lowest point in more than three years, suggesting the Trump administration’s agenda to recalibrate international flows of goods and services is having an impact. The trade deficit fell 8.2 percent to $43.1 billion, the lowest since October 2016, the Commerce Department said on Jan. 7 […]
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