If the Federal Reserve was looking for a media lockdown on news about the trillions of dollars in cumulative repo loans it has funneled quietly to Wall Street’s trading houses since September 17 of last year, it could not have found a better cloud cover than Donald Trump. First the impeachment proceedings bumped the Fed’s […]
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Congress Just Passed Nightmare Legislation That Strips Trillions in Wealth from the Middle Class…
Five days before Christmas, while the impeachment debate distracted voters, the President signed into law the so-called Secure Act – which was a sickening bi-partisan attack on the wealth-building capability of the middle class. Making the dirty deed even more Grinch-worthy, the attack on the assets of the middle class comes after the Trump tax […]
The Big 401(k) Changes Coming in 2020 You Need to Know About…
Ready to save more for retirement in 2020? A number of new provisions may make it easier to do so. For starters, when it comes to 401(k) plans, savers will be able to contribute more money. The contribution limit will increase to $19,500, from $19,000. The catch-up contribution limit, for those aged 50 and over, […]
The Fed Fueled Today’s Liquidity Crisis with One Key Moral Hazard Action…
The Federal Reserve Bank of New York (New York Fed) made the astonishing announcement last Thursday that it will be pumping a cumulative $2.93 trillion into Wall Street trading houses (primary dealers) between December 16 and January 14. That’s on top of the $360 billion of liquidity it is pumping into the markets by buying […]
Homebuilder Confidence Jumps to Highest Level in 20 Years…
A stronger economy and a severe housing shortage have the nation’s homebuilders feeling better than they have in two decades.Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since June 1999, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Anything above […]
A New Day: Stock Exchange Soars Breaking Records Along the Way…
The major U.S. averages secured fresh records on Monday as investors continued to digest last week’s two historic trade deals and focused on more positive U.S. economic data with homebuilder confidence hitting the highest level since 1999. The Dow Jones Industrial Average rose over 100 points or 0.36 percent, while the S&P 500 and Nasdaq […]
New York Fed Plans to Throw $2.93 Trillion at Wall Street’s Trading Houses Over Next Month as New York Times Remains Silent…
One has to wonder how much money it would take for the New York Fed to throw at Wall Street before the New York Times reports to its readers on the biggest Wall Street bailout by the Fed since the financial crisis. Last Thursday, December 12, the New York Fed announced that over the next […]
Beijing to Buy $200 Billion in U.S. Goods as Part of Initial U.S.-China Trade Deal…
The Chinese regime has committed to buy at least $200 billion in American goods and services over the next two years in a “phase one” U.S.-China trade deal struck between the two countries, according to a senior White House official. The deal also includes commitments by the regime to reform “critically important structural issues,” including […]
GM to Invest $1B in Missouri Plant…
General Motors plans to invest $1.5 billion to bring the “next generation” of midsize pickup trucks to the market, with the majority of that investment going toward the company’s suburban St. Louis plant. The Wentzville truck plant will receive roughly $1 billion of those funds to upgrade the facility as it prepares for the new […]
Spending Deal to Provide $1.4B for Trump’s Border Wall, While Democrats Get Expanded Head Start, Other Programs…
Senior lawmakers announced a tentative agreement Thursday on an almost $1.4 trillion government-wide spending bill that would stave off a federal shutdown next weekend and split the differences on a number of contentious issues. The handshake agreement was announced by the chairwoman of the House Appropriations Committee, Rep. Nita Lowey, D-N.Y., and other top members […]
‘Skinny’ Trade Deal Leaves U.S., China Starving for Phase 2…
The U.S. and China have yet to sign their phase one trade deal, but the two economic superpowers have already begun setting their sights on phase two. “It’s important we remember that our eyes are on the prize, and the prize really consists of a number of key issues that would be part of a […]
U.S. Stocks Hit Records After Reports of ‘In Principle’ US–China Trade Deal…
U.S. stock indexes hit record highs on Dec. 12 after reports that the United States had reached an “in principle” deal with China, as the two countries seek to resolve a 17-month trade war. Stocks soared in the afternoon after Bloomberg first reported on the in-principle deal, with the S&P 500 and Nasdaq closing at […]
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BIS Drops a Bombshell: Four U.S. Mega Banks Are Core of Repo Loan Crisis…
Yesterday, the Bank for International Settlements (BIS) dropped a bombshell report that torpedoed the Federal Reserve’s official narrative on what has caused the overnight lending market (repo loan market) on Wall Street to seize up since September 17, leading to more than $3 trillion in cumulative loans from the New York Fed as lender of […]
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Exxon Mobil Prevails in New York Climate Change Suit…
A judge on Tuesday ruled in favor of Exxon Mobil Corp in a lawsuit brought by New York state accusing the oil company of hiding from investors the true cost of addressing climate change. Justice Barry Ostrager in Manhattan Supreme Court ruled that the state attorney general failed to produce any evidence that investors were […]
USTR Robert Lighthizer Delivers Remarks at USMCA Signing Ceremony in Mexico City…
U.S. Trade Ambassador Robert Lighthizer traveled to Mexico to put the finishing touches on the revised USMCA agreement. Ambassador Lighthizer delivered remarks at the signing ceremony hosted by Mexican President Andres Manuel Lopez-Obrador. U.S. Trade Representative Robert Lighthizer stressed the United States has a stake in Mexico’s success as representatives from the United States, Mexico […]
Trump Shuts Down WTO Appeals Court, Sending EU, China Scrambling for ‘Plan B’…
Axios certainly has the best intro to today’s bombshell development: “Internationalists have always dreamed of a court with jurisdiction over all the countries of the world. In 1995, the World Trade Organization was created — allowing the world’s countries to press claims against one another for the first time.” But it won’t survive the Trump […]
Carmakers Shed 80,000 Jobs as Electric Shift Upends Industry…
It’s turning out to be one of the worst years ever for auto workers across the globe amid shrinking demand and a tectonic shift in vehicle technology, with Daimler AG and Audi announcing almost 20,000 job cuts in just the past week. All told, carmakers are eliminating more than 80,000 jobs during the coming years, […]
GM, LG Chem to Create $2.3B Battery Cell Venture for Electric Vehicles, to Create 1,100 Jobs in Ohio…
General Motors and LG Chem will invest up to $2.3 billion by 2023 to form a joint venture in Ohio for the production of battery cells for electric vehicles. The companies plan to build a battery cell factory in the Lordstown area of northeast Ohio. Construction of the plant, which is expected to be among […]
266,000 JOBS ADDED IN NOVEMBER. UNEMPLOYMENT REMAINS AT 50 YEAR LOW…
November saw 266,000 new jobs in the United States, up from the previous month, according to federal data released Friday. That beat expectations from forecasters, who anticipated the United States would add between 180,000 and 190,000 new jobs in the wake of October’s initial estimate of 128,000 jobs added. The Bureau of Labor Statistics also […]
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More Than a Half Million People to Lose Food Stamps Under New Trump Rule…
More than a half-a-million people are set to be thrown off food stamps after the Trump administration on Wednesday approved a new requirement tightening the criteria to qualify for the public assistance program. The law would ask states to mandate certain work requirements for people seeking to qualify for the benefits in areas deemed in […]
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