After 10 straight days of dip-buying pandemonium in Chinese stock markets – extending gains for small caps from the start of February to +46%! – the last three days have seen a notable absence of the “National Team” rescue bid sparking a 9% collapse in ChiNext…
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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 […]
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 […]
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 […]
February Payrolls Shocker: U.S. Adds Only 20K Jobs, As Wage Growth Soars…
Just as we warned moments ago when we cautioned that the whisper number is for a sharply lower print than the expected 180K print, moments ago the BLS confirmed that in February the US labor market hit a brick wall, or perhaps a blizzard, when it added just 20K jobs in February…
Tax Collectors Chase Rich New Yorkers Moving to Low-Tax States. Auditors Inspect Cell Phone Records, Even Your Dog’s Vet Bills…
The cat-and-mouse game between state tax collectors and wealthy New Yorkers who are moving to Florida has reached new levels — and gone high tech. New federal tax laws limiting the deduction of state and local income taxes have created incentives for wealthy New Yorkers to move to Florida or other lower-tax states. New York […]
Chinese Stocks Crash as Rare Sell Rating Shocks Traders…
The question whether Beijing will tolerate another stock market bubble – one which it appeared to carefully cultivate until now – got an answer on Friday when Chinese stocks crashed, tumbling the most in five months. And it all started with a single sell rating. The Shanghai Composite tumbled 4.4% to close below the key 3,000 point […]
The Federal Deficit Ballooned at Start of New Fiscal Year…
The federal budget deficit ballooned rapidly in the first four months of the fiscal year amid falling tax revenue and higher spending, the Treasury Department said Tuesday, posing a new challenge for the White House and Congress as they prepare for a number of budget battles. The deficit grew 77 percent in the first four months […]
These Stock Market Charts Should Give You Pause…
When you’ve studied stock market charts for three decades, you can’t help but notice that something very peculiar has been happening to the U.S. stock market in recent years. Rather than taking off at the opening bell and holding an upward bias or a downward bias for the balance of the trading day – the […]
Fraudsters Stole More Than $1B from Americans in 2018…
More Americans reported losing money to fraud and scams in 2018 when compared with the year prior. The Federal Trade Commission (FTC) said in a recent report that it received 3 million consumer complaints, including more than 1.4 million fraud reports – with people claiming to have lost money in about one-quarter of those reports. […]
Donald Trump Proclaims Tariffs ‘Greatest Negotiating Tool’ in U.S. History…
President Donald Trump proclaimed from the CPAC stage Saturday that tariffs are the “greatest” tool he’s employed in negotiating trade with foreign nations. The president described how he has used tariffs to bring China to the negotiating table. China had raised their tariffs on U.S. car imports to 40 percent. Trump said the U.S. should have […]
Trump Admin Renews ‘Temporary’ Amnesty for over 300,000 Foreign Nationals…
The Trump administration will be extending the Temporary Protected Status (TPS) for more than 300,000 foreign nationals, in a sharp immigration policy reversal from last year’s decision by President Trump decision to eliminate TPS amnesty. The Thursday announcement by Department of Homeland Security (DHS) secretary Kirstjen Nielsen not only puts the Trump administration in compliance with […]
Gap, JCPenney, Victoria’s Secret, Foot Locker: 465 Store Closures in 48 Hours…
The ‘retail apocalypse’ is alive and well this week with major chains such as Gap, JCPenney, Victoria’s Secret and Foot Locker all announcing massive closures, totalling the death of more than 465 stores over the last 48 hours. All four companies reported its fourth quarter results this week during the critical holiday period, with three […]
Study: Ben Bernanke Killed the World Economy…
This column has contended for several years, based on empirical data observations from several countries, that low interest rates worldwide were killing productivity growth. A University of Chicago paper finally provides some academic back-up for this contention and suggests a mechanism through which it takes place. There are other mechanisms also, and I would suggest […]
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Survival of the Richest…
Like a gilded coating that makes the dullest things glitter, today’s thin veneer of political populism covers a grotesque underbelly of growing inequality that’s hiding in plain sight. And this phenomenon of ever more concentrated wealth and power has both Newtonian and Darwinian components to it. In terms of Newton’s first law of motion: those in power […]
WTO Rules in Favor of U.S. in China Farm Subsidies Dispute…
The World Trade Organization (WTO) on Thursday ruled in favor of the U.S. in a long-running dispute over Chinese subsidies for wheat and rice farms, according to multiple reports. Reuters and The Associated Press report that the WTO ruled that China exceeded internationally agreed-upon standards for domestic support of rice and wheat farmers, allowing Chinese farmers to […]
U.S. Economy Grew Faster Than Expected in Q4…
In the fourth-quarter, U.S. gross domestic product grew at an annualized rate of 2.6%, according to the latest data from the Bureau of Economic Analysis. Thursday’s report beat expectations, with consensus economists polled by Bloomberg looking for growth to slow to 2.2% during the final three months of the year. The domestic economy grew at a […]
Cancer’s Complications: Confusing Bills, Maddening Errors And Endless Phone Calls…
New Times Square Billboards Fire Back at AOC and Her Green “Raw” Deal…
Today, the Job Creators Network put up two new billboards at the prominent intersection of 42nd Street and 7th Avenue in Times Square, New York City slamming Rep. Alexandria Ocasio-Cortez for proposing a disastrous idea she calls the “Green New Deal.” The first billboard reads, “Hey AOC, the Green New Deal Stinks.” The second billboard […]
Millennials Are Facing a Whopping $1 Trillion in Debt…
More than a decade has passed since young Americans faced debt levels this high. Debt among 19 to 29-year-old Americans exceeded $1 trillion at the end of 2018, according to the New York Federal Reserve Consumer Credit Panel. That’s the highest debt exposure for the youngest adult group since late 2007. Debt levels play a […]
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