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Two Whistleblowers Awarded $50 Million in “Massive Enforcement Action” Against JPMorgan…

The SEC today announced awards totaling $50 million to “two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.” The whistleblowers provided information that helped the agency win a $267 million settlement with JPMorgan over claims that the bank failed to inform wealthy clients of conflicts of interest in managing their […]

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International Trade Court Rejects Challenge to Trump’s Steel and Aluminum Tariffs (PDF)…

The United States Court of International Trade (full pdf below) has rebuked a global industry challenge to President Trump’s Steel and Aluminum tariffs. The court told the multinational trade association they lacked any authority to override the sovereign authority of President Trump, and his absolute right to apply a national security (section 232) declaration to […]

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Nomura: “BOOM, Roasted: The Fed’s “Clown Car” Experiment Is Now Complete”…

In the aftermath of the Fed’s second consecutive dovish capitulation, which while framed as a response to the slowing economy (a slowdown which the Fed completely missed as recently as December when 9 FOMC officials expected 1 or more rate hikes and now expect 0) but was really meant to support assets, many have taken […]

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Central American Migrants Are Sending Billions Back To Their Home Countries…

Foreign nationals from three Central American countries that send some of the highest numbers of illegal immigrants to the U.S. are sending back a record amount of money to their home countries. Immigrants from Guatemala, El Salvador and Honduras sent back a record $120 billion in remittances this decade, according to an immigration expert who […]

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Turns Out That Trillion-Dollar Bailout Was, in Fact, Real by Matt Taibbi…

Last summer, Washington Post “Fact-checker” columnist Glenn Kessler wrote that the Medicare for All plan favored by Sen. Bernie Sanders (I-VT) would cause “providers” to face an “immediate cut of 40 percent in their payments.” The piece was quickly amended to reflect that the cuts only referred to private insurance payments, leaving Medicare recipients untouched. […]

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A Summary of the 2019 Economic Report of the President…

In accordance with the Employment Act of 1946, the purpose of this Report is to provide the U.S. Congress with “timely and authoritative information concerning economic developments and economic trends” for the preceding year and, prospectively, for the years ahead. As required by the Employment Act, the Report also sets forth the Administration’s program for […]

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The Death of Globalization Accelerates as Global Trade Declines…

The change in total global exports has now gone negative. Barron’s has an interesting article How Investors Should Navigate Globalization’s Decline. A decadeslong drive toward freer trade across borders has begun to reverse. Globalization is being overwhelmed by populism, nationalism, and protectionism. “Brexit threatens to erect new trade barriers between the United Kingdom and the […]

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The Guardian: “Ending climate change requires the end of capitalism”…

Capitalism has to go – but apparently we shouldn’t listen to unhinged claims from the “pro free market” wing that the climate action movement was always just a Communist Trojan Horse: “Policy tweaks won’t do it, we need to throw the kitchen sink at this with a total rethink of our relationship to ownership, work […]

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Volkswagen to Create 1,000 New Jobs in Chattanooga Expansion…

Tennessee Gov. Bill Haslam and Department of Economic and Community Development Commissioner Bob Rolfe along with Volkswagen AG announced today that Chattanooga will be home to the company’s first electric vehicle manufacturing facility in North America. Volkswagen announces Chattanooga will be the home to the company’s first electric vehicle manufacturing facility in North America. This […]

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A Look Back at How Reforming Wall Street Failed So Miserably Under Obama…

Progressives have every right to harbor a seething contempt toward the Wall Street wing of the Democratic Party. Democrats controlled both houses of Congress in the last two years of George W. Bush’s presidency as Wall Street blew itself up and Congress passed the massive taxpayer bailout of the Wall Street mega banks. (Democrats held […]

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Toyota Solidifies Its Substantial and Growing Investment in U.S….

For over 60 years Toyota has been growing its manufacturing presence in the United States, and today the company announced it will exceed its 2017 pledge to invest $10 billion over five years with a new commitment to reach nearly $13 billion over the same period. Part of that commitment is seen today with an […]

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OPEC Threatens to Kill U.S. Shale…

The Organization of Petroleum Exporting Countries will once again become a nemesis for U.S. shale if the U.S. Congress passes a bill dubbed NOPEC, or No Oil Producing and Exporting Cartels Act, Bloomberg reported this week, citing sources present at a meeting between a senior OPEC official and U.S. bankers. The oil minister of the […]

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‘Jackscrew’ Found at Ethiopian Crash Site Confirms Boeing 737 Max Was Set to Dive…

Having seen the satellite-based trajectories of the Ethiopian Airlines Boeing 737 Max jetliner before its crash, it was clear, as one experienced pilot noted, that “something was extraordinarily wrong.” And now, as Bloomberg reports, a screw-like device found in the wreckage of the Boeing Co. 737 Max 8 has provided investigators with an early clue […]

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On the Death of My Family’s Dairy Farm…

This Christmas, like every other, I traveled to northern Wisconsin to stay with my parents on the dairy farm I grew up on. As usual I took the opportunity to help my dad and younger brother with barn chores and milk cows. The cows need to be milked twice a day, every day, roughly around […]

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Cancellation Chaos: $600 Billion in Boeing 737 Max Orders at Risk…

New evidence shows that the Boeing Co. 737 MAX which crashed in Ethiopia on Sunday may have experienced similar technical difficulties as the 737 MAX that crashed off Indonesia last year. The Federal Aviation Authority (FAA) cited similarities with in-flight data of both planes when it spoke to global regulators about grounding the jet. With […]

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The Sharing Economy Was Always a Scam…

Founded in 2014, Omni is a startup that offers users the ability to store and rent their lesser-used stuff in the San Francisco Bay Area and Portland. Backed by roughly $40 million in venture capital, Omni proclaims on its website that they “believe in experiences over things, access over ownership, and living lighter rather than […]

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Whole Foods Reportedly Cuts Worker Hours to Make Up for its New $15-an-Hour Wage…

One of the most common arguments against raising the minimum wage, like cities such as Seattle and San Francisco have done recently, is that if businesses are forced to pay workers more per hour, they’ll simply cut the amount of shifts they offer workers to keep their costs the same. While this hasn’t happened in […]

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What Do Wyoming’s 13 New Blockchain Laws Mean?…

Wyoming has now enacted a total of 13 blockchain-enabling laws, making it the only US state to provide a comprehensive, welcoming legal framework that enables blockchain technology to flourish, both for individuals and companies. These laws enable innovation and creativity, and are meant to bring capital, jobs and revenue into Wyoming. Law and technology are […]

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