The United States “dethroned” Hong Kong this week to take the top spot as the World’s most competitive economy; further signaling a robust US recovery under President Trump and the recently passed GOP tax cuts. “The U.S. dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth […]
The Fed Is on a Collision Course…
Is the Trump economic boom a mirage? The data say yes, but the Fed models say no. The Fed has a long track record of sticking to its model-based approach and missing major turns in the U.S. economy. Current Fed policy will push the U.S. economy to the brink of recession later this year. When […]
America May Soon Face Its Biggest Labor Strike in Decades…
The Teamsters and UPS could be heading toward the nation’s largest strike in decades. On Tuesday, the union announced that members voted more than 90% in favor of going on strike, if a deal is not reached before the current labor contract expires on August 1. UPS employs 260,000 Teamsters, and has added 40,000 union […]
Fifth Third Bank to Acquire Chicago-Based MB Financial in $4.7B Deal…
Chicago-based MB Financial Inc. announced on Monday it would merge with Fifth Third Bancorp in a deal valued at $4.7 billion. The transaction will result in one of the region’s largest middle-market banks. MB Financial’s chief executive officer Mitch Feiger will serve as CEO for the Chicago area after the acquisition and two members of […]
“The outlook is not good”: Goldman Sees U.S. in Dire Straits As Deficit Hits $2 Trillion in 10 Years…
Three months ago, Goldman first among the big banks warned that the US fiscal trajectory was dire, warning that “US fiscal policy is on an unusual course” with the budget deficit expected to widen over the next few years, as a result of prior imbalances and recently enacted policies – namely Trump’s dramatic fiscal stimulus […]
Apple Cancels $1B Ireland Project Over Delays…
Apple announced on Thursday it would cancel plans to build a $1 billion data center in Ireland, citing delays in the center’s approval process. “Despite our best efforts, delays in the approval process have forced us to make other plans and we will not be able to move forward with the data center,” Apple said […]
China Files WTO Complaint Against Trump’s Steel, Aluminum Tariffs…
Meaningless Words – Chairman Xi Jinping Uses Panda Speech to Con China Trade Critics…
While necessarily needing to continue the gamesmanship, and publicly exhibit positive reception therein, I doubt seriously President Trump is fooled by this familiar Chinese ploy. Actions speak louder than words…
National Debt Hits $21 Trillion….
The national debt exceeded $21 trillion for the first time on Thursday, a little more than six months after it hit first $20 trillion on Sept. 8. The national debt was $21.031 trillion on Thursday. The government releases total debt figures each business day, but it lags by one day. Federal borrowing has been on […]
Small Business Optimism at Highest Level Since 1983, Second Highest Ever…
The National Federation of Independent Businesses (NFIB) said small business optimism rose to 107.6 in February, the highest level since 1983 and second highest ever. The NFIB Small Business Economic Trends Survey showed a jump in small business owners increasing capital outlays and raising compensation. “When small business owners have confidence and certainty in the […]
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