The United States is pumping record amounts of oil, vaulting over Russia to become the world’s biggest producer of crude. The Energy Information Administration said Thursday that the U.S. produced more than 11.3 million barrels a day in August, a 4 percent increase over the old record set in July. Russia’s energy ministry estimates that […]
Rescuing the Banks Instead of the Economy…
You can’t bail out the banks, leave the debts in place, and rescue the economy. It’s a zero-sum game. Somebody has to lose. That’s what happened in 2009 when President Obama came in. He invited the bankers to the White House and he said, “I’m the only guy standing between you and the mob with […]
Pompeo: China Is Buying an ‘Empire’…
Chinese President Xi Jinping is trying to buy an “empire” through predatory loans to poor countries around the world, according to the top U.S. diplomat. “When China shows up with bribes to senior leaders in countries in exchange for infrastructure projects that will harm the people of that nation, then this idea of a treasury-run […]
U.S. Named “World’s Most Competitive Economy” for First Time in 10 Years…
For the first time since the financial crisis, the US has regained its ranking as the ‘World’s Most Competitive Economy’, according to the World Economic Forum’s Global Competitiveness Index. What’s more, the US also scored high in the “innovation” pillar of the WEF’s index, which the organization added to better reflect the factors that are […]
Trump Correctly Blaming the Fed for Next Market Crash…
Radio host Dr. Dave Janda says everybody in Washington knows the next big crash is right around the corner. It’s been 10 years since the Fed reflated the last meltdown, and Dr. Janda says President Trump is already blaming the Federal Reserve for killing the economy that his policies revived. Dr. Janda explains, “President Trump […]
Job Openings Hit New Record High of 7.1 Million…
The monthly Job Openings and Labor Turnover Survey, or JOLTS, released by the Labor Department on Tuesday showed job openings rose to 7.136 million. Economists had forecast 6.9 million. The prior month was revised up to 7.077 million, the first time this number has ever exceeded 7 million. Until April of 2017, there had never […]
Atlanta Fed Raises GDP View to 4.2 Percent on Strong Economic Data…
The U.S. economy is expanding at a 4.2 percent annualized rate in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday, following the release of the latest data on producer prices and wholesale trade. That was a tad faster than the 4.1 percent pace calculated on Oct. 5 by the Atlanta […]
5 Questions Worried Americans Will Ask After Dow Slumps Over 800 Points…
The Dow Jones Industrial Average DJIA, -3.15% S&P 500 index SPX, -3.29% and Nasdaq Composite Index COMP, -4.08% have all been experiencing volatility in recent months, weighed by rising bond yields and a trade war with China. The Dow fell more than 800 points and the S&P 500 had its worst day since February. What […]
Trump Says Fed ‘Has Gone Crazy’ Following Stock Market Selloff…
President Donald Trump again criticized the Federal Reserve for raising interest rates, calling it a “mistake” hours after the worst U.S. stock market sell-off since February. “The Fed has gone crazy,” he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally. “So you can say that well that’s a lot of […]
U.S. Consumer Confidence Surged in August to Near 18-Year High…
A measure of economic confidence among American households rose in August to its highest level since October 2000. The Conference Board on Tuesday said its index of U.S. consumer confidence climbed to 133.4 in August from 127.9 in July. The August reading well exceeded economists’ expectations. Factors including a buoyant job market and rising incomes […]
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