Business/Economy (News/Activism)

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  • Another Trump Win: Apple Supplier Foxconn Says It Is In Discussions To Expand US Operations

    12/07/2016 12:15:03 PM PST · by servo1969
    Zerohedge.com ^ | 12-7-2016 | Tyler Durden
    There is over a month left until Trump's inauguration, and the President-elect's hard-hitting negotiating style may have scored yet another economic victory: according to a statement issued by Foxconn, the world's largest contract electronics manufacturer and a major Apple Inc supplier, the company said it was in preliminary discussions to expand its operations in the United States. "While the scope of the potential investment has not been determined, we will announce the details of any plans following the completion of direct discussions between our leadership and the relevant U.S. officials," it said in a statement. Foxconn in its statement did...
  • Dow Jones at new record high; index exceeding 19,500

    12/07/2016 12:01:56 PM PST · by John W · 7 replies
    AP via WWLP ^ | December 7, 2016 | Jay Marley
    NEW YORK (AP) — Stocks are leaping to all-time highs in a broad rally Wednesday afternoon. Investors are seeking out stocks that pay large dividends as well stocks that tend to do better in times of faster economic growth, like technology and industrial companies. Drug companies are taking steep losses after President-elect Donald Trump said he wants to reduce drug prices.
  • Two sections of First Coast Expressway construction behind schedule

    12/07/2016 11:00:21 AM PST · by Tolerance Sucks Rocks · 3 replies
    The Florida Times-Union ^ | December 6, 2016 | Teresa Stepzinski
    Construction of two of the three sections of the multi-lane First Coast Expressway running through Clay County and neighboring Northeast Florida communities is behind schedule, according to Florida Department of Transportation officials, who cited a variety of factors for the delays. The expressway is a limited access toll facility is touted by elected officials and economic development authorities in Clay as being a gateway to new residential and commercial economic growth, which translates into an increased tax base. When completed, the expressway will span 46.5 miles. It be a connecting road outside of the existing Interstate 295 Loop between Interstate...
  • TV Host with Breast Cancer Forced to Remove Wig as Part of ‘Horrific’ TSA Body Search

    12/07/2016 10:08:15 AM PST · by Red Badger · 20 replies
    people.com ^ | Posted on December 7, 2016 at 11:28am EST | By Lindsay Kimble
    Denise Albert, the co-founder of The MOMS, is speaking out after what she calls an “horrific” pat down from Transportation Security Administration (TSA) agents at the Los Angeles International Airport on Sunday — all over medication related to her breast cancer treatment. Albert, who is a frequent guest on PIX11 Morning News, told the outlet that she was traveling through security when she was pulled aside by agents for a manual search. The cause for further search was a medical cream she had packed in her carry on luggage, Albert told PIX11. Albert wrote on The MOMS website that the...
  • ‘The Moms’ co-host Denise Albert, who is battling cancer, says she felt ‘violated’ during TSA search

    12/07/2016 10:05:00 AM PST · by Red Badger · 23 replies
    pix11.com ^ | Updated at 07:31pm, December 6, 2016 | by Talia Tirella and Dan Mannarino
    LOS ANGELES — A breast-cancer patient said she felt violated and humiliated in a public TSA search at Los Angeles International Airport Sunday after two security agents put her through what she called an aggressive pat down. Denise Albert, a frequent guest on the PIX11 Morning News and co-host of "The Moms," was traveling through LAX security when two TSA agents pulled her aside for a manual search because she was trying to bring a necessary medical cream with her on her flight, Albert said. "I always let them know I have a medical port and that I am wearing...
  • Now that Trump’s won, media suddenly notices that a lot of new jobs are crappy

    12/07/2016 10:00:06 AM PST · by C19fan · 25 replies
    Hot Air ^ | December 7, 2016 | Jazz Shaw
    You’re going to be seeing a shift in the way the media covers the news in the coming years with the change in management at the White House. Even though the inauguration is still quite a few weeks away, that process has already begun. Just to take one of the more glaring examples which you can reliably track each and every month, let’s take a look at the Washington Post’s coverage of the jobs reports which come out every month.
  • In phone call with Trump, Boeing chief pledges to work with new administration after [] tweet

    12/07/2016 9:33:48 AM PST · by GonzoII · 57 replies
    Chicago Tribune ^ | Monday, December 7, 2016 | Christian Davenport
    Hours after Donald Trump promised to kill the Air Force One procurement program, Boeing Chief Executive Dennis A. Muilenburg spoke with the president-elect on Tuesday, promising to work with the new administration and to keep the costs of the program down, according to a person with knowledge of the matter...
  • Reality Check: Job Market Rolling Over -- Rate Of Hiring Declines At Fastest Pace Since 2013

    12/07/2016 9:04:05 AM PST · by SeekAndFind · 11 replies
    Zero Hedge ^ | 12/07/2016
    On Wednesday the BLS reported Janet Yellen's favorite labor market indicator, the JOLTS survey, which as expected (since it tracked the modestly weaker October payrolls) showed that in October, the number of job opening dropped from the upward revised September print 5.631 million to 5.534 million, down some 97,000, if modestly better than the 5.5 million expected.  The number of job openings declined to a series low in July 2009, one month after the official end of the most recent recession. Employment continued to decline after the end of the recession, reaching a low point in February 2010.The October...
  • We Do Not Have a Trade Deficit, We have a capital surplus

    12/07/2016 8:34:45 AM PST · by SeekAndFind · 68 replies
    National Review ^ | 12/06/2016 | Kevin Williamson
    ‘Thank goodness for Kevin McCarthy!” isn’t something one says every day, but in the matter of President-elect Donald J. Trump’s backward and destructive plan to resurrect 19th-century tariffs, the gentleman from California is invaluable. Trump wants to impose 35 percent tariffs on . . . somebody. He does not seem quite sure. One of the reasons for that is that Trump has the question of trade deficits mixed up in his head with the question of offshoring and, like most Americans, he does not understand either of them very well. The president-elect, writing on Facebook (because that’s what presidents-elect...
  • How repealing Obamacare would punish the working class [Look: #fakenews]

    12/07/2016 8:10:45 AM PST · by SoFloFreeper · 17 replies
    Washington comPost ^ | 12/7/16 | Max Ehrenfreund #fakejournalist
    ....The ACA, also known as Obamacare, provides subsidies to help subscribers afford the cost of individual policies. The law also required all Americans, with a few exceptions, to have insurance. Without the subsidies or the requirement that all Americans have coverage, experts say the healthiest customers would cease buying insurance if they do not have policies through their employers or through the government. As a result, insurers would be forced to increase premiums to cover the cost of treating those sicker patients who remain. Many would find they could no longer afford coverage.
  • Trump administration a 'grand experiment,' says Barry Diller

    12/07/2016 6:31:53 AM PST · by Hojczyk · 11 replies
    CNBC ^ | DECEMBER 5, 2016 | Christine Wang
    Media executive Barry Diller said a Donald Trump administration is kind of like a "grand experiment." "Every day, we see things we've never seen before," Diller said Tuesday on CNBC's "Fast Money." While he remains skeptical of Trump, Diller, chairman of IAC, said he's interested to see what this development will bring. "Look, 50 percent of the country wanted things to continue as they were, 50 percent wanted change. The 50 percent that wanted change has gotten the chance for it. As far as I'm concerned, bring it on," he said. Diller said it appears the president-elect will bring about...
  • Trump Day One To-Do List: Repeal $1.7 Billion Of Dodd-Frank Rules

    12/07/2016 5:47:04 AM PST · by IBD editorial writer · 18 replies
    Investor's Business Daily ^ | 12/6/2016 | Staff
    Regulations: Donald Trump will have a busy first day if he plans to undo much of the damage inflicted on the economy by President Obama. Nevertheless, here's one more item to add to his list: Overturn $1.7 billion in Dodd-Frank rules. The Dodd-Frank financial "reform," passed by Democrats and signed into law by President Obama in 2010, is arguably the most misguided and economically harmful piece of legislation ever imposed on the country (the second, arguably, is ObamaCare). As we've noted in this space before, one of the main reasons the economy has been stuck in neutral for the past...
  • 2016: Person of the Year: Donald Trump

    12/07/2016 5:35:15 AM PST · by Beautiful_Gracious_Skies · 28 replies
    MSN ^ | December 7, 3016 | Michael Scherer
    Even for Donald Trump, the distance is still fun to think about, up here in his penthouse 600 ft. in the sky, where it’s hard to make out the regular people below. The ice skaters swarming Central Park’s Wollman Rink look like old-television static, and the Fifth Avenue holiday shoppers could be mites in a gutter. To even see this view, elevator operators, who spend their days standing in place, must push a button marked 66–68, announcing all three floors of Trump’s princely pad. Inside, staff members wear cloth slipcovers on their shoes, so as not to scuff the shiny...
  • Is There a Mismatch Between Productivity and Workers’ Income?

    12/07/2016 3:14:22 AM PST · by expat_panama · 44 replies
    The American Thinker ^ | December 7, 2016 | Joshua Anumolu
    An article by Lance Selfa, a columnist at the "Socialist Worker", argues that economic growth does not help working people: “One of the orthodox assumptions of both liberal and conservative economics is that a more productive economy leads to higher living standards. According to the theory, when workers are better educated and better trained, and when technology is intelligently deployed to increase economic efficiency, the overall economy produces more and workers earn more. Or so the theory goes. What's the evidence?” In fact, Selfa's argument has been routinely rejected by economists for the following reasons. First, the article ignores the...
  • Is Janet Yellen Sabotaging The Trump Administration?

    12/06/2016 8:07:38 PM PST · by Rockitz · 47 replies
    ZeroHedge.com ^ | 6 December 2016 | Dennis E. Miller via Tyler Durden
    Is Janet Yellen trying to screw Donald Trump? No, I’m not asking for possible titles to a porn movie (“Trump Gets Janet Yellin’” or “Trump Puts Down Ol’ Yellen”). But it really does seem like the Federal Reserve Chair(wo)man is out to get the Donald. Yellen recently told Congress’s Joint Economic Committee that an interest rate hike could be imminent if “incoming data provide some further evidence of continued progress toward the committee’s objectives.” Markets have already priced in a hike of a quarter to a half of a percentage point. For now, stocks continue to reach historic highs and...
  • St. Cloud couple file suit so they can deny wedding services to same-sex couples

    12/06/2016 6:19:33 PM PST · by ButThreeLeftsDo · 19 replies
    StarTribune.com ^ | 12/6/16 | Stephen Montemayor
    A St. Cloud husband-and-wife film company is challenging the constitutionality of Minnesota’s human rights act, arguing that they will be punished for refusing wedding services to same-sex couples. In one of the first challenges since same-sex marriage became legal in Minnesota, Carl and Angel Larsen’s Telescope Media Group filed suit Tuesday in federal court against the state’s commissioner of human rights and attorney general. The complaint describes the Larsens as “Bible-believing Christians” who “believe that many see marriage as a punch line for jokes, a means for personal gratification, an arrangement of convenience, or a method of achieving social status.”...
  • How Tech Can Help Save Democracy

    12/06/2016 5:19:28 PM PST · by spintreebob · 9 replies
    medium.com ^ | 11/29/16 | Ben Rattray
    Americans feel government doesn’t serve them, their voice isn’t heard. Most solutions focus on the next political battle. While short-term battles are important, we need long-term solutions more profound than better policies, politicians or parties; we need a better political system. Technology has been blamed for our current political environment; for social and economic disruption that led to disaffection, for spreading fake news. Well-designed technology offers the best chance of creating the political system needed: more participatory, responsive, informed democracy. It just hasn’t been built yet. Silicon Valley invested billions designing technology to improve industries; commerce, communications, travel, transportation. Less...
  • Microwave Fracking: Environmentally Friendly And Extremely Efficient

    12/06/2016 5:01:12 PM PST · by Hojczyk · 24 replies
    Manufacturing Talk Radio ^ | October 14,2016
    Fracking has faced serious opposition from environmental groups throughout the United States and the communities that surround these industrial operations. The main issue surrounding fracking is the disposal of wastewater that some fear could contaminate groundwater in these communities where fracking operations are located. It may sound like something out of a science fiction movie but hydraulic fracking could instead become microwave fracking. This new process is more efficient, safer and more environmentally friendly than traditional hydraulic fracking. The biggest concern with fracking is the disposal of wastewater. However with this new process water would be able to be eliminated...
  • Researchers Bypass Apple's Activation Lock on iPhones and iPads

    12/06/2016 3:42:35 PM PST · by LouieFisk · 11 replies
    Bleeping Computer ^ | December 2, 2016 | Catalin Cimpanu
    Two researchers have found a way to bypass the Apple Activation Lock on both iPhones and iPads, running the two most recent versions of iOS, 10.1 and 10.1.1.
  • Nebraska Democratic Party Chair Afraid Russia, Saudi Arabia Will Build Pipelines Through U.S.

    12/06/2016 2:37:30 PM PST · by Sub-Driver · 20 replies
    Nebraska Democratic Party Chair Afraid Russia, Saudi Arabia Will Build Pipelines Through U.S. BY: Jack Heretik December 6, 2016 4:58 pm Nebraska Democratic Party chair Jane Kleeb said in an interview with RT that she is afraid Russia and Saudi Arabia will build oil pipelines through the United States while Donald Trump is president. Kleeb brought up her concern while speaking with host Ed Schultz about the the ongoing controversy surrounding the Dakota Access Pipeline project and her strong opposition to the Keystone XL Pipeline. “You know what Trump is saying, that he’s going to get rid of the executive...
  • End of the Dark Age: Trump to restart space exploration rather than fund climate hoax

    12/06/2016 1:46:02 PM PST · by Jyotishi · 35 replies
    The Geller Report ^ | Monday, December 5, 2016 | Pamela Geller
    What wonderful news -- investing in actual science and divesting from leftwing lunacy. Some of man's greatest achievements and scientific discoveries came from space exploration. Obama changed NASA's mission from space exploration to Muslim outreach. NASA's Administrator explained that Obama had asked him to "find ways to reach out to dominantly Muslim countries." (More here: Obama 's stone age) TRUMP TO SEND MEN BACK TO THE MOON AND 'EXPLORE ENTIRE SOLAR SYSTEM' RATHER THAN FIGHT CLIMATE CHANGE The president elect could put men on the moon once again – and use money from the climate change budget to do it...
  • United Airlines will charge extra fee for use of overhead bins

    12/06/2016 1:14:37 PM PST · by T-Bird45 · 99 replies
    WMAR-TV2 ^ | 12/6/16 | Bretton Keenan
    BUFFALO, N.Y. (WKBW) - The coveted carry-on bag. Not checking your bag has its perks--avoid waiting around at baggage claim at the end of your flight, or worrying about losing it, and it's cheaper. Or, at least, it used to be. United Airlines just announced a new ticket option called "Basic Economy," banning the use of overhead bins for luggage. So now you're stuck with either paying for a checked bag, or paying for a more expensive ticket to bring it on the flight with you. According to a release from U.S. Sen. Charles Schumer's office, United expects the plan...
  • Disgruntled Democrats Want A Constitutional Convention To Leave The Union

    12/06/2016 12:54:31 PM PST · by Red Badger · 148 replies
    ntknetwork.com ^ | December 6, 2016 1:57 pm | Staff
    On Tuesday, disgruntled Democrats held a forum to discuss the possibility of replacing the Electoral College. Rep. Zoe Lofgren (D-CA) conceded that Democrats could not get rid of the Electoral College due to the way the United States Constitution is written. “I don’t think we can sustain our American democracy by having the majority ruled by the minority. And so the question is how to fix this since the Constitution is written in such a way that it’s almost impossible to amend,” Lofgren said. Lofgren went on to say she is open to a Constitutional Convention, “We are three states...
  • ABC NEWS Breaking: Trump Announces SoftBank to Invest $50 Billion, create 50,000 American Jobs!

    12/06/2016 11:28:48 AM PST · by tcrlaf · 257 replies
    ABC News ^ | 12-6-2016 | ABC NEws
    ABC News Verified account ABC 49 seconds ago Trump announces that Masayoshi Son, CEO of SoftBank, has agreed to invest $50 billion in U.S., create 50K new jobs.
  • SoftBank Pledges to Invest $50 Billion in U.S. After Meeting With Trump

    12/06/2016 12:24:03 PM PST · by Enlightened1 · 45 replies
    WSJ ^ | 12/06/16 | RYAN KNUTSON
    SoftBank Group Corp. Chairman and Chief Executive Masayoshi Son said Tuesday he would invest $50 billion in the U.S. and create 50,000 new jobs, following a 45-minute private meeting with President elect Donald Trump. The Japanese billionaire, whose conglomerate controls Sprint Corp., announced his investment plans in the lobby of Trump Tower, though he didn’t provide details. Mr. Trump took credit for the investment, saying his November victory spurred SoftBank’s decision. In an interview, Mr. Son said the money will be coming from a $100 billion investment fund that he is setting up with Saudi Arabia’s sovereign-wealth fund and other...
  • Farmers: New proposed law in Town of Sweden (NY) could cripple our businesses

    12/06/2016 10:40:07 AM PST · by AbolishCSEU · 23 replies
    whec TV 10 ^ | November 23, 2016 | Brianna DiPilato
    Local farmers say a new proposed law in the Town of Sweden could cripple their businesses and potentially their livelihood. Best known for their U-Pick Pumpkin Patch and October events, McCracken Farms draws in people from all over the state every year. Now, the farm's owner, Paul McCracken tells us it might be more difficult to bring in all those visitors. "We've been doing this for over 30 years and now all of a sudden, here's a whole slew of zoning permits and special-use permits," says McCracken. "The list goes on and on, it's unnecessary." The newly required permits come...
  • Donald Trump Is Inheriting the Best Economy in a Generation Thanks to Obama

    12/06/2016 9:48:52 AM PST · by SeekAndFind · 91 replies
    Fortune ^ | 12/06/2016 | Chris Matthews
    Thanks, Obama! Donald Trump had a rocky campaign. And the transition has been bumpy as well. But he looks to be rolling onto the presidency on the smoothest economic path of any president in a long time. Data ranging from wage and job growth to manufacturing-sector indicators show that Donald Trump is getting an economy in better shape than any new president in a generation. Take a look at the following four indicators to see just how fortunate the President-elect is: GDP Growth The only indicator that shows Trump inheriting a generally weaker economy than is typical is GDP growth....
  • Trump Carrier Deal Weathers Bogus ‘Crony Capitalism’ Charges

    12/06/2016 9:10:00 AM PST · by GonzoII · 65 replies
    Lifezette ^ | 06 Dec 2016 | Jim Stinson
    When President-Elect Donald Trump helped convince Carrier Corp. to keep 1,069 jobs in the Indianapolis region, you would have thought he had all employed all manner of socialism to achieve this success — judging from the criticism lobbed by political adversaries. The opposition to the Carrier deal came mostly from the Right — but in some cases, came from the Left, too. Former Alaska Gov. Sarah Palin, an early Trump supporter, called it “special-interest crony capitalism.” The Weekly Standard founder and the father of “NeverTrump,” William Kristol, said it violated the rule of law and was arbitrary government bullying (although Trump is...
  • Amazon Lifts the Lid on New Amazon Go ‘Shoplifting’ Technology

    12/06/2016 8:56:13 AM PST · by jcon40 · 73 replies
    Heat street ^ | Dec 6, 16 | Mathew Hughes
    There’s a term used to describe people who walk into a store, help themselves to a sandwich or a cupcake, and then promptly walk out: Shoplifters. But maybe not for much longer. Amazon just lifted the lid on its new Amazon Go technology, which looks to fundamentally transform the retail world. Here’s how it works. You enter a store using Amazon’s propriety technology and flash your personal QR code to a reader. Then, you just pick up what you want and walk out. No dealing with infuriating self-checkout machines or cashiers. The money is automatically taken from a nominated credit...
  • Trump to meet with Kissinger Tuesday

    12/06/2016 8:30:17 AM PST · by HarleyLady27 · 40 replies
    The Hill ^ | Dec. 6, 2016 | Jessie Hellmann
    Former Secretary of State Henry Kissinger will meet with President-elect Donald Trump Tuesday, according to pool reports.
  • Major Announcement From Right Side Broadcasting Network (RSBN)…

    12/06/2016 7:54:14 AM PST · by HarleyLady27 · 29 replies
    The Conservative Treehouse ^ | Dec. 6, 2016 | Sundance
    Most CTH followers are familiar with RSBN from their exceptional coverage of Trump rallies and events throughout the entire election. Indeed, RSBN broke new ground in the way political rallies could be broadcast, live-streamed and followed by operating outside the traditional legacy media. Without their diligent efforts we would have been forced to rely on broadcast network coverage of Trump speeches and events.
  • Trump Tweets: Stop building my new Air Force One; Costs are Out of Control

    12/06/2016 7:22:37 AM PST · by SeekAndFind · 70 replies
    Hotair ^ | 12/06/2016 | Ed Morrissey
    Is this the Art of the Deal coming into play, or a stand against gouging by defense contractors? Despite insisting on the latest in luxury as a private citizen, Donald Trump seems to be saying no to a new fleet of presidential aircraft. He tweeted earlier today that the contract for replacing Air Force One should be canceled due to spiraling costs: Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!— Donald J. Trump (@realDonaldTrump) December 6, 2016 Over the past few months,...
  • Amazon introduces next major job killer to face Americans

    12/06/2016 6:54:38 AM PST · by ChicagoConservative27 · 73 replies
    Amazon on Monday unveiled the latest plan to automate American workers out of existence — a futuristic grocery store without any cashiers. High-tech sensors and artificial intelligence are allowing shoppers at the Seattle food market to swipe an app when they enter, then roam the aisles and grab staples like bread and milk, artisanal cheeses and chocolates and ready-made meals. Customers can watch as the items they pluck off the shelves get added to a virtual cart on the app — and subtracted if they put them back — with receipts emailed to them once they leave, according to the...
  • The Twin Pillars of Progressivism

    12/06/2016 6:38:25 AM PST · by afraidfortherepublic · 13 replies
    National Review ^ | 12-6-16 | Victor Davis Hanson
    Universities and the media: arrogant, ignorant, and ripe for reform. (Read the rest at the link. Site does not want me to copy for some reason. It could just be my computer, but don't allow that glitch to cause you to miss this fine article by VDH. He's ripping and roaring this am.)
  • Carrier Deal a Political Winner for Trump, Poll Shows

    12/06/2016 6:31:29 AM PST · by mandaladon · 21 replies
    Morning Consult ^ | 6 Dec 2016 | JON REID
    Voters across the political spectrum view President-elect Donald Trump more favorably as a result of the Carrier deal. In a new Morning Consult/POLITICO national poll, 6 out of 10 voters surveyed said Trump’s intervention to keep the manufacturer from shipping hundreds of jobs to Mexico made them view the president-elect in a more positive light.
  • Pentagon reportedly buried study exposing $125 billion in waste

    12/06/2016 5:41:08 AM PST · by NYer · 45 replies
    Fox News ^ | December 6, 2016
    Senior defense officials suppressed a study documenting $125 billion worth of administrative waste at the Pentagon out of fears that Congress would use its findings to cut the defense budget, the Washington Post reported late Monday. The report, which was issued in January 2015 by the advisory Defense Business Board (DBB), called for a series of reforms that would have saved the department $125 billion over the next five years.  Among its other findings, the report showed that the Defense Department was paying just over 1 million contractors, civilian employees and uniformed personnel to fill back-office jobs. That number nearly...
  • Trump's Energy Revolution Can't Come Soon Enough

    12/06/2016 5:00:57 AM PST · by IBD editorial writer · 11 replies
    Investor's Business Daily ^ | 12/6/2016 | Staff
    Politics: If you want to know why the economy has been struggling so much under President Obama, look no further than the arbitrary and capricious decision by his Army Corps of Engineers to block the Dakota Access pipeline it had already approved. How many days does he have left in office? In July, the Corps said it had approved 200 water crossings and easements for the 1,172-mile pipeline to cross Lake Oahe, Lake Sakakawea and the Missouri River. When it's finished, the $3.8 billion project will transport 450,000 barrels of oil a day from western North Dakota to Patoka, Ill....
  • Will Trump administration stop Lockheed from building F-16s in India?

    12/06/2016 3:59:12 AM PST · by sukhoi-30mki · 19 replies
    Star-Telegram ^ | DECEMBER 5, 2016 | STEVE KASKOVICH
    Earlier this year, Lockheed Martin offered to shift manufacturing of F-16 fighter jets from Fort Worth to India if it wins a big contract to build hundreds of planes for the country. Now some are wondering whether the Trump administration will allow such a deal to proceed. “What will be the U.S. policy posture now that the new president-elect is in the mix?” one high-level official at an American defense firm in India told The Washington Post, speaking on the condition of anonymity. “Is he going to continue the policy of engaging in India on co-production and co-development? All of...
  • Political Spin in Full Spin on the Obama Economy

    12/06/2016 2:20:22 AM PST · by expat_panama · 7 replies
    Real Clear Markets ^ | December 6, 2016 | Ray Keating
    As their time in office winds down, U.S. presidents and their supporters tend to focus on legacy: What will history say about them? Unfortunately, on the economy, the Obama crowd has a lot of work to do in the hopes that political spin will cloud or even overrule economic reality. The effort is well under way. It's not like this hasn't happened before. Franklin Delano Roosevelt's New Dealers successfully spun the idea that Herbert Hoover was a laissez-faire president, unwilling to use the tools of government to fight off the Great Depression, and it took FDR and his government programs...
  • Donald Trump Fires Tariff Warning Shot; Could It Backfire?

    12/06/2016 2:20:13 AM PST · by expat_panama · 56 replies
    Investors Business Daily ^ | 2016/12/05 4:16 PM ET | JED GRAHAM
    In the tweet heard round the world, Donald Trump threatened to slap a 35% tariff on companies that shift jobs overseas, then ship their goods back to the U.S. Since his election, the focus has been on the carrots Trump will offer to grow and protect America's manufacturing base: corporate tax cuts and possibly a side order of state tax incentives. That's the menu that will keep open a Carrier plant in Indiana... But now Trump is signaling a more combative approach... ...There will be a tax on our soon to be strong border of 35% for these companies," Trump...
  • House G.O.P. Signals Break With Trump Over Tariff Threat

    12/06/2016 1:29:12 AM PST · by reaganaut1 · 74 replies
    New York Times ^ | December 5, 2016 | JENNIFER STEINHAUER
    WASHINGTON — House Republican leaders signaled on Monday that they would not support President-elect Donald J. Trump’s threat to impose a heavy tax on companies that move jobs overseas, the first significant confrontation over the conservative economic orthodoxy that Mr. Trump relishes trampling. “I don’t want to get into some kind of trade war,” Representative Kevin McCarthy, Republican of California and majority leader, told reporters in response to Mr. Trump’s threats over the weekend to seek a 35 percent import tariff on goods sold by United States companies that move jobs overseas and displace American workers. Speaker Paul D. Ryan...
  • Supporters Worry Trump Will Scuttle Plan to Put Harriet Tubman On $20 Bill

    12/05/2016 10:49:38 PM PST · by jcon40 · 48 replies
    heat street ^ | Dec 5, 2016 | Greg Robb
    Supporters of the decision by the Obama White House to put the black abolitionist Harriet Tubman on the front of the $20 bill are worried that it could be reversed. “We certainly are worried, when [Donald] Trump won the election, that he might try to make good on his suggestion that Harriet Tubman be put on the $2 bill instead of the $20 bill,” said Susan Ades Stone, executive director of the nonprofit organization Women on 20s. “It would be a slap in the face of women to reverse the decision in our opinion.” Lisa Maatz, vice president for government...
  • BLS Data: This Tells The REAL Story On Unemployment

    12/05/2016 8:12:32 PM PST · by eastexsteve · 14 replies
    Forget all the claims of "low" unemployment rate. This is the actual workforce participation rate from the last two Bush years on thru the Obama years from the BLS. It isn't pretty.
  • Swiss president to talk trade with Trump

    12/05/2016 8:06:29 PM PST · by Olog-hai · 11 replies
    TheLocal.ch ^ | 5 December 2016 10:36 CET+01:00
    US President-elect Donald Trump has requested a phone call with Swiss President Johann Schneider-Ammann in the coming days, the latter told Swiss broadcaster RTS on Saturday. Trump wishes to speak “entrepreneur to entrepreneur, and politician to politician”, said Schneider-Ammann, who was head of his family’s mechanical engineering business, Ammann Group, from 1988 until his election to the Swiss Federal Council in 2010. “I’m looking forward to talking to him,” he told RTS. This will be the first telephone conversation between the pair since Trump’s election on November 8th. …
  • LeBron won't stay at Trump hotel with team

    12/05/2016 6:39:08 PM PST · by entropy12 · 95 replies
    The Hill ^ | 12/05/2016 | Blog Briefing Room
    LeBron won't stay at Trump hotel with team © Getty Images A group of Cleveland Cavaliers players are refusing to stay at a Trump hotel in New York City, according to ESPN. The Cavaliers have a contract with Trump SoHo hotel in lower Manhattan, but a group of players have been excused from staying there. LeBron James is among the players who will not stay at the hotel, ESPN reports. James endorsed Democratic presidential nominee Hillary Clinton about a month before she lost the election to Donald Trump.
  • US Already Ready to Take Advantage of OPEC Cut

    12/05/2016 5:23:47 PM PST · by 198ml · 22 replies
    The American Interest ^ | 12/5/16 | TAI
    Don’t look now, but an American shale rebound is already underway. Operators have been steadily putting more oil rigs into operation for months now, and we’ve been seeing signs that the industry has been ready to stop a slide in output and start ramping up total U.S. production for months now. This week, as Reuters reports, the U.S. saw its rig count rise yet again.
  • GOP Leader Breaks With Donald Trump On Suggested 35 Percent Tariff (McCarthy)

    12/05/2016 12:48:47 PM PST · by Pinkbell · 135 replies
    The Huffington Post ^ | December 5, 2016 | Matt Fuller
    WASHINGTON; If President-elect Donald Trump thinks he’s going to impose a 35 percent tariff on companies importing goods, he might want to check with Republicans in Congress. House Majority Leader Kevin McCarthy (R-Calif.) suggested Monday that Republicans would not be in favor of imposing the 35 percent tariff on foreign goods that Trump proposed Sunday in a series of tweets.  Trump may not understand how tariffs really work; it would be very difficult for the United States to impose them on specific companies that move jobs to a foreign country; or that Congress, not the president, sets them. But he...
  • Fed officials warn Trump that fiscal policy must be smart

    12/05/2016 12:08:50 PM PST · by b4its2late · 54 replies
    Market Watch ^ | Published: Dec 5, 2016 11:50 a.m. ET | Greg Robb
    New York Fed president backs gradual interest-rate hikes Without mentioning President-elect Donald Trump by name, Federal Reserve officials on Monday warned that the incoming administration’s fiscal policy must be intelligently designed to spur the economy while maintaining a rainy-day fund to help the economy withstand another downturn. “Smart” government spending and tax reform could help the economy grow, said Chicago Fed President Charles Evans in a speech to the Executives Club of Chicago, according to Reuters.
  • Economist: Trump must prepare for a showdown with China

    12/05/2016 9:53:09 AM PST · by GonzoII · 105 replies
    Fox News ^ | Published December 05, 2016 | Peter Morici
    President-elect Donald Trump faces immediate challenges: managing the war against ISIS, fixing ObamaCare and boosting growth to create jobs. But as the fallout from his recent conversation with the president of Taiwan indicates, an increasingly assertive China poses the most vexing and far-reaching challenges for American prosperity and security. China has accomplished hyper growth supplying Western consumers with inexpensive goods and attracting Western investment to obtain necessary technology, but it has hardly played by the established rules and norms of global trade. It has subsidized exports, manipulated its currency and engaged in other abusive practices.
  • Kevin McCarthy won’t defend Donald Trump’s 35-percent tariff

    12/05/2016 9:46:23 AM PST · by GonzoII · 56 replies
    Washington Times ^ | Monday, December 5, 2016 | Tom Howell Jr.
    House Majority Leader Kevin McCarthy on Monday refused to back President-elect Donald Trump’s push for a 35-percent tariff on companies that move operations abroad and then sell their goods back in the United States, saying corporate tax reform is the key to retaining American jobs. “I think that’s a better way to solve the problem than getting in a trade war over a 35-percent tariff,” the California Republican told reporters.