In a December 2018 Congressional hearing on Not-for-Profit Charities with a Specific Case Study on the Clinton Foundation, our nation was introduced to two private individuals who had undertaken a multi-year investigative probe of the 43rd President’s foundation. Larry Doyle and John Moynihan informed those observing that they filed a formal Whistleblower Submission replete with […]
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Two Days of Grilling Ahead for Fed Chair Powell…
At 10:00 a.m. this morning, the Chairman of the Federal Reserve, Jerome (Jay) Powell, will take his seat in the Rayburn House Office Building to deliver his semiannual testimony to the House Financial Services Committee and answer a multitude of questions on what the Fed has been up to lately. Powell will repeat the process […]
‘Shrink’ Government: Trump’s Budget Reduces Spending by $4.4 Trillion, Makes 2017 Tax Cuts Permanent…
President Trump is proposing to balance the federal budget within 15 years, “shrink” the federal government and extend food stamp work requirements to Medicaid and housing programs in a $4.8 trillion spending plan being released Monday. The plan would reduce spending by $4.4 trillion equally from discretionary and mandatory programs such as Medicare over the […]
Report: China’s Currency Manipulation, Unfair Subsidies Killed 3.7 Million U.S. Jobs…
Millions of American workers lost good-paying jobs, mainly in manufacturing, after China joined the World Trade Organization in 2001, a new report states. The trade deficit with China has ballooned since then, costing an estimated 3.7 million U.S. jobs between 2001 and 2018, according to a new report by the Economic Policy Institute (EPI), a […]
Fiat Chrysler: Prolonged Coronavirus Threatens to Close European Plant…
Fiat Chrysler Automobiles said Thursday that while the virus outbreak in China posed no immediate business risk, production at one European plant could be affected if supply chains remain blocked. The company said it has identified one European plant where production could be affected in the next two to four weeks if the Chinese supply […]
Apple Warns Coronavirus Could Jeopardize Orders for 45 Million Airpods…
Demand for Apple’s popular Airpods, both the original version and the slightly more expensive second generation model, have become an unexpected hit for the consumer-tech giant. Apple’s latest earnings report helped emphasize this as sales of the wireless headphones were a big component in the revised guidance that helped inspire a rally that drove the […]
Another Massively Oversubscribed Term Repo Confirms Persisting Liquidity Woes…
Two days after dealers unexpectedly flooded the first reduced term-repo (from $35BN previously to $30BN) offered by the Fed, the liquidity shortage in the repo market – which was supposed to be temporary and few if any strategists said would continue beyond year-end – persists, and today the Fed announced that in its latest 2-week […]
Nasdaq and S&P Soar to Record Highs as Impeachment Ends in Acquittal…
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 […]
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 […]
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