There is a serious question that no one wants to address. How did Al Gore create the global warming scare and earn hundreds of millions of dollars in the process? Before Al Gore, science was worried deeply about what we are experiencing today — global cooling. On April 28, 1975, Newsweek magazine published an article in which […]
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National Debt Hits $22 TRILLION…
The national debt has passed a new milestone, topping $22 trillion for the first time. The Treasury Department’s daily statement showed Tuesay that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017. The debt figure has been rising at a faster […]
U.S. Job Opening Soar to All Time High: 800K More Than Unemployed Workers…
The Fed’s dovish U-turn appears in jeopardy again. After a modest slowdown in job openings which started in September and continued through November, today’s November JOLTS report – Janet Yellen’s favorite labor market indicator – for the month of December showed an unprecedented surge in job openings across most categories as the year wound down, […]
Netflix Paid Zip, Zero, Zilch in Federal or State Taxes…
Netflix didn’t pay a cent in state or federal income taxes last year, despite posting its largest-ever U.S. profit in 2018 of $845million, according to a new report. In addition, the streaming giant reported a $22 million federal tax rebate, according to the Institute on Taxation and Economic Policy (ITEP). Senior fellow at ITEP Matthew Gardner said […]
“Progressive” Attacks on Capitalism Were Key to Hitler’s Success…
The following, written in 1940, is excerpted from Interventionism, An Economic Analysis, which was originally part of Nationaloekonomie, the German predecessor to Human Action. Hitler, Stalin, and Mussolini constantly proclaim that they are chosen by destiny to bring salvation to this world. They claim they are the leaders of the creative youth who fight against […]
BB&T Acquires Suntrust In $66BN Deal Creating 6th Largest US Bank…
A more permissive regulatory environment culminated on Thursday in the biggest bank merger since the 2007-2009 financial crisis, and more deals are likely, analysts and investors said. U.S. regional lender BB&T Corp said it will buy rival SunTrust Banks Inc for about $28 billion in stock. The banks hope to close the deal later this […]
Mystery Surrounding ‘Lost’ $150M Crypto Fortune Deepens as Analysts Question Exchange Founder’s Death…
We were half-joking when we speculated last week that QuadrigaCX CEO Gerald Cotten – founder of a Canadian crypto exchange that has become embroiled in a $150 million fiasco after Cotten died and purportedly took the keys to the exchange’s cold wallets to his grave, rendering his customers’ coins immovable – faked his own death […]
‘Rain Tax’ Likely to Become Reality in New Jersey…
New Jersey is one of the highest taxed states in the country. Now, residents and businesses could be taxed extra … when it rains. Save it for a rainy day. Some of your hard-earned dollars may be taken away as the weather turns ugly and rain drops fall on the Garden State. A new bill […]
Letter: GM to Terminate 1,298 Salaried Employees…
Consistent with the “Worker Adjustment and Retaining Notification Act” (W.A.R.N.), General Motors LLC, and its subsidiaries, affiliates, and related companies, are providing notice of layoffs that will be affecting salaried employees at its GM Warren Technical Center…
Trump’s Plan to Improve Healthcare, That Everyone Said Wouldn’t Work, Is Already Working…
In June, the Trump administration instituted new rules that would allow small businesses and individuals to access health insurance through what the president called “ association health plans.” This would permit certain businesses and the self-employed to band together, even across state lines, to provide coverage for members outside of Obamacare’s strict rules. Critics declared […]
Trump Picks World Bank Sceptic David Malpass to Lead Institution…
US President Donald Trump is expected to tap Treasury Department official David Malpass as the US pick to lead the World Bank, according to senior administration officials, a clear sign the administration wants to rein in the international financial institution. Malpass, Treasury’s undersecretary for international affairs, has said global organisations like the World Bank “have […]
Foreign Workers See 4X the Job Growth of Americans in January…
For the month of January, foreign-born workers increased their labor participation rate year-to-year nearly nine times as much as native-born Americans. Likewise, foreign workers enjoyed nearly four times the job growth in January as American workers. While the foreign worker population increased about 3.4 percent year-to-year, the American worker population increased less than 0.9 percent […]
Here We Go: Fed “Finds” That Negative Rates Would Have Helped the Recovery
Several days ago, the ECB sparked the ire of pretty much anyone with a working frontal lobe when it made the indefensible claim that, drumroll, QE had helped reduce inequality. ECB asset purchases have reduced inequality in the eurozone, our research shows. They have especially benefited low-income households, which suffer the most from unemployment. That’s […]
New Home Sales Crush Forecast by Nearly 100K…
The U.S. Census Bureau said new home sales in November 2018 came in at a seasonally adjusted annual rate of 657,000, crushing the 560,000 consensus forecast. The forecasts ranged from a low of 535,000 to a high of 581,000, with the actual number coming in way above the high end. The figure for November is […]
Crypto Exchange Says It Can’t Repay $190 Million to Clients After Founder Dies With Only Password…
Canadian crypto exchange QuadrigaCX says it cannot repay most of $190 million in client holdings after its 30-year-old founder Gerald Cotten, the only person who knew the passwords to its “cold storage,” unexpectedly died in India in December 2018, Coindesk reported on Friday. In a sworn affidavit with the Nova Scotia Supreme Court, widow Jennifer […]
U.S. and China Begin High-Level Trade Talks in DC…
Giddy up. Two days of intense trade discussions begin today in the Eisenhower building led by U.S. Trade Representative Robert Lighthizer and his Chinese counterpart Vice Premier Liu He. The stakes are high as the deadline for an agreement is March 2nd. Ambassador Lighthizer is joined by Commerce Secretary Wilbur Ross, Treasury Secretary Steven Mnuchin, […]
Here Are the Biggest Stock Winners on the Day the Fed Went Soft on Interest Rates…
Investors probably weren’t surprised when the Federal Open Market Committee decided not to raise the target federal funds rate on Wednesday, however, a softening of language helped cause a rally for stocks. The Dow Jones Industrial Average DJIA, +1.77% jumped 435 points, or 1.8% to close at 25,014.86, while the S&P 500 index SPX, +1.55% […]
“Patient” Fed Capitulates to Market, Surprises with Unexpected Balance Sheet Unwind Adjustment…
With a 1% probability of a rate-hike today, all that matters is The Fed’s tone (better be uber dovish) and any language shifts on the balance sheet normalization. And, by the looks of things, the now “patient” Fed capitulated to both Trump and the market: “In light of global economic and financial developments and muted […]
Secret Underground Tunnel Leads to Bank in Florida…
What drivers believed to be a large pothole in the middle of the road in Pembroke Pines, Florida, turned out to be a hidden underground tunnel that authorities believe may lead to a nearby bank. The FBI has joined local police in an investigation into the newly discovered tunnel, which reportedly stretches about 50 yards. […]
Bankrupt PG&E Shedding More Than $40B Worth of Green Energy Contracts…
Pacific Gas and Electric (PG&E) may shed more than $40 billion worth of power purchase agreements after the California utility was driven into bankruptcy by liabilities for sparking deadly wildfires, The Wall Street Journal reports. PG&E wants the U.S. Bankruptcy Court in San Francisco to rule whether the company must honor $42 billion worth of […]
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