The Health and Human Services, Labor and Treasury Departments joined forces on a new initiative intended to provide affordable health care coverage to hundreds of thousands of Americans, Secretary of Labor Alex Acosta said. The legislation will expand the use health reimbursement arrangements (HRAs), allowing employees use pre-tax health arrangements to buy insurance. “What employers […]
Finance
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These Charts Suggest the Whole Wall Street Casino Has Become Taxpayer-Backstopped and Too-Big-to-Fail…
According to the Federal Deposit Insurance Corporation (FDIC), as of September 30, 2018 there was a total of $13.6 trillion in deposits at all 5,397 Federally insured banking and savings institutions in the U.S. but just nine mega banks represented 40 percent of all domestic deposits. Those nine are the insured banking units of the […]
Retirees Worldwide May Run Out of Money 10 Years Before They Die…
One of the toughest problems retirees face is making sure their money lasts as long as they do. From the U.S. to Europe, Australia and Japan, retirement account balances aren’t increasing fast enough to cover rising life expectancy, the World Economic Forum warns in a report published Thursday. The result could be workers outliving their […]
Apple, Nintendo Prepared to Move Production Out of China…
Apple and Nintendo both have plans to shift some production from China to Southeast Asia to reduce exposure to the fourth proposed list of China tariffs, currently set to be approved mid-June. This list could heavily impact tech companies dependent on cheap manufacturing, raw materials, components, and hardware coming from China. – We are totally […]
China’s Factory Inflation Slows as Manufacturing Stumbles; Food Prices Soar…
China’s factory inflation slowed in May as faltering manufacturing hit demand, reinforcing worries about cooling growth in the world’s second-largest economy, while a surge in food prices could add to consumer grievances about living costs. The slowdown was driven by declines in industrial commodities prices and was in line with the downbeat factory activity seen […]
PG&E Wins Court Case Allowing It to Renegotiate $34B in Renewable Energy Contracts…
Pacific Gas & Electric has won a huge legal decision from the bankruptcy court agreeing with its position that in can proceed to renegotiate $42 billion dollars in costly energy power purchase contract commitments including many renewable energy contracts. This decision will likely be appealed but for the time being the $42 billion dollars in […]
Alliances – Tokyo Electron Will Not Provide Semiconducter Equipment to Trump Blacklist Chinese Clients…
There’s always a larger geopolitical dynamic when you assess the economic alliances that President Trump puts together…. Always and underlying plan… Sometimes it just takes time to surface. As we have noted, even going back to 2017, Japanese Prime Minister Shinzo Abe always appeared to be the fulcrum for President Trump’s Indo-Pacific strategy. Remember the […]
OPINION: Every American Should Pause to Read What Elizabeth Warren Has to Say About Economic Patriotism…
Let’s begin with a thought experiment: What if the Republican leadership in Washington had bothered to learn the lessons of the 2016 election? What if they’d understood and embraced the economic nationalism that was at the heart of Donald Trump’s presidential campaign? What would the world look like now, two-and-a-half years later? For starters, Republicans […]
Trump Slams Chamber of Commerce Over Tariff Opposition…
President Trump on Monday lashed out at the U.S. Chamber of Commerce over the lobbying organization’s opposition to his threat of tariffs against Mexico. The president called into CNBC for a lengthy interview after a representative from the Chamber appeared on the network to voice concerns with Trump’s use of tariffs as a negotiating tactic. […]
Hiring Hits Series High, Job Openings Beat Forecast…
The Bureau of Labor Statistics (BLS) JOLTS report beat expectations, with the hiring hitting a series high and a number of job openings rising to 7.449 million on the last business day of April. The consensus forecast was looking for an even 7.4 million. Hires increased slightly to a new high at 5.9 million, and […]
White House Economist: Jobs Report Shows Risks to Economy, But Still Reasons for Optimism…
Top Trump economic adviser Kevin Hassett said that Friday’s jobs report indicates higher risks to the economy but that he remains hopeful job growth will pick up in June and the U.S. will avoid a recession. Hassett, the outgoing chairman of the White House Council of Economic Advisers, acknowledged that the estimated 75,000 jobs created […]
The Fed’s Glue-Sniffing Announcement Yesterday Involving JPMorgan Chase…
Federal Reserve inspectors appear to be on some kind of mind-altering drug or their superiors are simply taking their marching orders from Wall Street cronies in the Trump Administration. Yesterday the Fed released a terse 104-word statement indicating that the largest and serially charged bank in the U.S., JPMorgan Chase, had shown “evidence of substantial […]
Merkel Says Trade Deal with U.S. of ‘Existential Importance’…
German Chancellor Angela Merkel described a future trade agreement between the European Union and United States as being of existential importance, saying she would keep trying to make progress despite the “regrettable” opposition from France. “We have a mandate for talks with the United States and I think it is of existential importance,” Merkel told […]
There You Have It: Alexandria Ocasio Cortez Says Americans’ Right to a Home Trumps Workers ‘Privilege’ to Earn a Profit…
New York Democrat Rep. Alexandria Ocasio-Cortez thinks having a home should be a human right. During a recent town hall in the Bronx, New York, the freshman lawmaker suggested the right to own a home should take precedence over someone’s ability to make a profit. “What are we doing to make sure housing is being […]
Oil Just Had Its Worst Run Since 2008…
Oil has entered a bear market as fears of an economic downturn mount. The fundamentals look much tighter than the swoon might suggest, but the supply and demand picture is also beginning to look more negative. The EIA report was exceptionally weak, showing a strong build in crude oil (+6.8 million barrels), gasoline (+3.2 million […]
Carnival Cruise Lines Hit with $20 Million Penalty for Environmental Crimes…
A $20 million fine isn’t even a slap on the wrist for Carnival. On revenue of $18.8 billion, I wonder, in which column on their spreadsheet this will go? Chicken Feed? Pocket Lint? F-U-We’ll-Do-It-Again? Via: NPR: The cruise line giant Carnival Corporation and its Princess subsidiary have agreed to pay a criminal penalty of $20 […]
No Deal – U.S. and Mexico Officials Fail to Reach Agreement on Border, Immigration, Tariffs…
According to recent reporting, officials representing the U.S. and Mexico have failed to reach an agreement on measures to stop the flood of migrants traveling through Mexico. As a result of the scale of the crisis, and without an agreement from Mexico to stop the worsening problem, President Trump has announced tariffs on imported goods […]
Mexico Readies List of U.S. Products for Retaliation If Trump Levies Tariffs…
Mexican President Andrés Manuel López Obrador has received a list of U.S. products that his country would slap with tariffs if President Trump follows through with his threat to impose tariffs on Mexican goods starting Monday. The list indicates that Mexico could retaliate swiftly if the tariffs are implemented, as Trump said Wednesday was likely. […]
The “Big Club” Fights Back Against Trump Tariffs – Senate Republicans, Paid by U.S. CoC, Prepare to Mount Assault…
CTH has been fully immersed in the battle against the Chamber of Commerce Decepticons for so long we have to be careful of our language. This battle is the heart of Wall Street’s war against MAGA Main Street. Republican senators from Mitch McConnell’s ‘decepticon caucus’ are now warning President Trump they will fully engage in […]
Related
Chinese Goods Navigate Alternate Trade Routes to Avoid Tariff Charges…
Higher U.S. tariffs from the trade war with China are altering patterns of world trade as exporters use third countries to bypass the duties, data reveals. Chinese exports to the U.S. tumbled by $15.2 billion, or 12%, in the January-March quarter of 2019 on a year-on-year basis. But an analysis conducted by Nikkei showed that […]
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