The House passed a $383 billion spending package on Tuesday, which includes funding for a number of different government agencies. The package included five funding bills and passed the House in a vote of 227-194. It includes funds for Commerce and Justice; Agriculture, Interior, Environment; Military Construction and Veterans Affairs; and Transportation, Housing, and Urban […]
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President Trump Announces Executive Order on Healthcare Price Transparency…
We’re here to announce new groundbreaking actions that we’re taking to dramatically increase quality, affordability, and fairness to our healthcare system. This landmark initiative continues our campaign to put American patients first. This is a truly big action. People have no idea how big it is. Some people say bigger than healthcare itself. This is […]
Today’s Wall Street Has All the Hallmarks of Tulip Mania…
In her 2007 book, Tulipmania: Money, Honor, and Knowledge in the Dutch Golden Age, Anne Goldgar writes that “the f1000 one might pay in January 1637 for one hypothetical Admirael van der Eyck bulb,” could have bought “a modest house in Haarlem,” or “nearly three years’ wages” of a master carpenter. Comparing that to U.S. […]
Supreme Court Refuses to Hear Challenge to Trump’s Steel Tariffs…
The U.S. Supreme Court refused to question President Donald Trump’s imposition of more than $4 billion in steel tariffs, turning away an appeal that challenged his use of national security as the legal justification for his trade agenda. The appeal by a steel industry trade group and two of its members contended that the provision […]
Trump Just Revolutionized Health Care — And Nobody Noticed…
Few have ever heard of “Health Reimbursement Accounts,” but they could fundamentally change the nation’s health care system — for the better — and destroy the Democrats’ case for socialized health care. Late last week, the Trump administration finalized rules that will let companies put money into tax-exempt HRAs that their employees could then used […]
Apple, Black & Decker and Steve Madden Among U.S. Companies Moving Production Out of China. Full List…
Apple is reportedly considering moving up to 30 percent of their production from China to Southeast Asia, the latest company to join a small but growing list of firms that are evaluating their supply chains in the region amid continued trade tensions with the U.S. While the spat between the U.S. and China spurred the […]
Mexico’s Senate Approves Trade Deal with U.S., Canada…
Mexico’s Senate voted overwhelmingly on June 19 to ratify a new free trade agreement with the United States and Canada, making it the first of the three countries to gain legislative approval. Mexico’s upper chamber voted 114 to four with three abstentions in favor of the U.S.-Mexico-Canada Agreement, or USMCA. U.S. President Donald Trump had […]
There It is – Chairman Xi Jinping Announces Magnanimous Panda: DPRK Hostage Release is “Correct Direction”…
As we noted on Day #1, if we watch how Beijing scripts the messaging we should be able to identify if Chairman Xi Jinping is taking the dragon approach toward his captive Kim Jong Un, or if Xi would instead reshape the geopolitics by announcing his release of Kim as a hostage: The magnanimous panda […]
Midwest Corn Farmer on Planting Season: ‘Disaster like I’ve never seen before’…
It’s a tough decision that many of the Midwest’s farmers had to make this month: To plant, or not to plant. James McCune’s corn fields in western Illinois are typically covered with rows of hardy, knee-high corn this time of year. Instead, in 2019, five of every six acres he farms sit unplanted, pockmarked with […]
Fed Scraps Its ‘Patient’ Interest Rate Approach in Prelude to Potential Cut…
The Federal Reserve indicated a readiness to lower interest rates for the first time in more than a decade, citing “uncertainties” in the outlook that have increased the case for a cut as officials seek to prolong the near-record U.S. economic expansion. While Chairman Jerome Powell and fellow policy makers left their key rate in […]
Bonds Surge, Stocks Rally After Fed Turns Dovish…
U.S. stocks rallied for a third day and yields on shorter-maturity Treasuries tumbled after the Federal Reserve struck a dovish tone in its latest policy statement. The dollar weakened against almost all its major peers. The benchmark S&P 500 pushed within striking distance of an all-time high set April 30, led by gains in the […]
President Trump and Chairman Xi Will Meet During G20 Summit in Osaka, Japan…
President Trump tweeted about a phone call this morning with Chinese Chairman Xi Jinping. There will be a G20 meeting between Trump and Xi. So, extending our conversation from yesterday…. the “magnanimous panda” approach appears confirmed. With Chairman Xi Jinping traveling to North Korea for talks with his captive Kim Jong Un prior to the […]
Related
Here Come the Central Banks: A Look at This Week’s Barrage of Key Events…
Brace for a barrage of flashing red central bank headlines. Central banks are set to steal the limelight on the coming sessions, and Markets will have to prepare themselves for a packed week of events next week, headlined by the Fed meeting. Additionally, the BoE and BoJ will also meet, ECB leaders gather in Sintra, […]
Chinese Auto Sales Post Worst-Ever Monthly Decline as Trade War Intensifies…
China reported the worst-ever monthly sales drop in the world’s largest vehicle market on Wednesday, exacerbating concerns over the country’s economic slowdown and growing impact of an ongoing trade war with the United States. Sales tumbled 16.4% in May from the same month a year prior, the China Association of Automobile Manufacturers (CAAM) said. That […]
A Trio of Trump Rules Will Remake U.S. Health Insurance Markets…
President Donald Trump’s attempt to transform American health insurance is almost complete. Twenty months ago, frustrated after attempts to repeal Obamacare fell apart in the Republican-controlled Senate, Trump pledged to use executive power to do what Congress failed to legislate. An executive order set in motion regulations to promote “health care choice and competition across […]
Trump Administration Expands Pre-Tax Accounts for Health Insurance Coverage…
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 […]
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 […]
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