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Job Fair After ICE Raids: Here’s Who Showed Up for Koch Foods Plant Job…

On Monday morning, the parking lot at the WIN Job Center here was full. About 25 to 30 people showed up to apply for jobs at Koch Foods’ nearby poultry processing plant. Of those, about an equal number were black, white or Latino. “This is what you’d normally see here,” said Dianne Bell, communications director […]

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Markets Wake Up to a Dicey Global Economy Outlook; Dow Plunges…

If you are long stocks, this is one of those mornings when you may be tempted to pull the covers over your head and take a mental health day away from financial news. As of 8:44 a.m. this morning, Dow futures were registering a plunge of 394 points; the big Wall Street bank stocks were […]

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Stocks Rally as U.S. Delays Tariffs on Key Chinese Imports…

U.S. stocks, especially shares of tech companies, and bond yields rallied Tuesday after the White House said tariffs on key Chinese imports would be delayed. Early in the day’s session, equities turned positive on a report that China’s commerce secretary agreed to conduct a phone call in two weeks with U.S. Trade Representative (USTR) Robert […]

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U.S. Budget Gap Widens 27% in First 10 Months of Fiscal Year…

The U.S. budget gap widened further in July as federal spending outpaced revenue collection, bringing the deficit to $867 billion so far this fiscal year, a 27% increase from the same period a year earlier. The Treasury Department said Monday federal receipts rose 3% from October through July, totaling $2.9 trillion, while outlays climbed 8%, […]

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Tiny-Home Craze Spreads to Amazon…

Tiny homes are popular with millennials since their standard of living has collapsed. All thanks to insurmountable student loans, no savings, and gig-economy jobs that don’t pay the bills. Wzhgroup, a Chinese builder of container homes, has recently become a merchant on Amazon where they can ship a tiny, expandable container home within 3 to […]

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Florida Raking in Billions as Americans Abandon High-Tax States…

State governments can benefit greatly from an influx of movers – enjoying everything from increased tax revenues to new business activity. Recently, changes to the U.S. tax code have encouraged an increasing number of people to move – taking their cash to lower-tax states like Florida. As it turns out, however, Florida has been banking […]

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Malaysia Indicts 17 of the “Untouchables” at Goldman Sachs…

When it comes to serial and systemic frauds perpetrated by big banks on Wall Street, the U.S. Department of Justice typically punts. It will either not charge the bank itself or it will issue a felony charge along with a non-prosecution agreement that lets the bank settle the charges without a trial. These tactics by […]

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Gold: $1500…

Gold prices on Wednesday jumped above an important psychological level at $1,500 amid a round of easy-money policies that helped to stoke fresh appetite for the perceived safety of precious metals. The 10-year U.S. Treasury note’s TMUBMUSD10Y, -4.93% fall to new lows not seen since 2016 below 1.7%, also helped to drive demand for bullion. […]

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U.S. Financial System Rests on 5 Mega Banks; and They Tanked Yesterday…

By the closing bell of yesterday’s broad stock market selloff, the Dow Jones Industrial Average, which had been down over 900 points in the afternoon, closed with a loss of 767 points or 2.90 percent. The Standard and Poor’s 500 Index closed even deeper in the red with a loss of 2.98 percent. But those […]

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DOW Stocks Plunge 767 Points as U.S.-China Trade War Deepens…

U.S. stocks went into freefall on Monday, with the Dow Jones Industrial Average down 900 points at its low before curbing some of those losses, ending the session 767 points lower. All three of the major market averages lost about 3 percent led by the tech-heavy Nasdaq Composite in what is the worst session of […]

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Beijing Launches DPRK Rockets Over Escalating Trade Tension – Trump Launches Treasury Missile Designating China a Currency Manipulator…

Beijing has once again used their proxy province of North Korea to launch small two short-range ballistic missiles as leverage in the U.S. and China trade confrontation – ” For the fourth time in less than two weeks, North Korea has fired projectiles into the Sea of Japan, a U.S. official said. The two projectiles, […]

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Stocks, Yuan, Bond Yields Crash as Trump Unleashes New China Tariffs…

Just as investors thought it was safe to buy-the f**king-dip after Powell’s plunge, President Trump steals the jam out of their donut by announcing new China tariffs…”on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country” In a series […]

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Federal Reserve Cuts Rate Quarter Point, First Since ’08 – Why It Doesn’t Matter…

In 2015 CTH outlined how candidate Donald Trump’s proposals were in-line with those who had long argued for a return of “economic nationalism”. We also outlined when those proposals (now policy) are implemented, Fed action would be essentially irrelevant. The Federal Reserve is pegged to the Wall Street Economy. President Trump’s policies are pegged to […]

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Chinese Aluminum Billionaire Indicted in $1.8 Billion Tariff Evasion Scheme…

We previously outlined Mr. Zhongtian Liu [HERE] as part of the early 2018 explanation for how China was exploiting the NAFTA loophole as an end-run around tariffs. Today the Central District of California U.S. Attorney announces his indictment – “A federal grand jury indictment unsealed late Tuesday alleges a complex financial fraud scheme in which […]

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Capital One Says Breach Hit 100 Million Individuals in U.S….

Capital One Financial Corp. said data from about 100 million people in the U.S. was illegally accessed after prosecutors accused a Seattle woman identified by Amazon.com Inc. as one of its former cloud service employees of breaking into the bank’s server. While the complaint doesn’t identify the cloud provider that stored the allegedly stolen data, […]

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U.S. Files Lawsuit Against Bitcoin Exchange That Helped Launder Ransomware Profits…

The US Department of Justice has filed a civil lawsuit seeking to recover more than $100 million from a notorious cryptocurrency exchange that has helped cyber-criminals launder stolen funds, such as those obtained from ransomware payments, dark web drug marketplaces, and funds from hacked cryptocurrency exchanges. In a lawsuit filed on Friday, July 26, the […]

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The Federal Government Sold Your Social Security Number for Five Dollars…

Do you remember back in 2017 when Equifax (the giant consumer credit agency) admitted that it had been breached? Hackers broke into Equifax’s databases and stole personal and financial records of 147 million people. And we’re talking EVERYTHING– names, addresses, Social Security Numbers… all the ingredients that an identity thief needs to destroy your life. […]

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