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Keyword: economy

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  • China’s debt time bomb ticking in Chinese port bordering North Korea as liabilities top US$7 billion

    11/18/2017 2:04:05 PM PST · by ameribbean expat · 8 replies
    Dandong Port Group, which manages the largest Chinese port trading with North Korea, failed to settle 1 billion yuan worth of bonds that matured at the end of October. The default raised questions over its ability to honour a further 6.95 billion yuan worth of publicly traded bonds and bills, two thirds of which will mature at the end of next year. *** A fixed-income manager who works in China’s interbank market, where much of Dandong’s debt is bought and sold, told the South China Morning Post that the chances of the company repaying the bonds were “not good”, based...
  • Money for Arkansas River Bridge Is Fort Smith's Missing Link

    11/16/2017 4:54:55 AM PST · by Tolerance Sucks Rocks · 17 replies
    Arkansas Business ^ | November 13, 2017 | Marty Cook
    One of Arkansas’ top priorities is finishing Interstate 49 in the western part of the state. A key component of that massive project, which is also massively expensive, is a 13.7-mile stretch near Fort Smith that includes a bridge over the Arkansas River to connect Interstate 40 with Interstate 49, which would then run from south Fort Smith to northwest Arkansas and up through the midsection of the nation. The project’s completion would connect with a 6.5-mile stretch of Interstate 549 that opened in 2015 and hooks up U.S. 71 with Highway 22 in south Fort Smith. The proposed 13.7-mile...
  • 'Obamacare'(ACA) Sign-Ups 45 Percent Ahead of Last Year's Pace

    11/15/2017 10:04:40 PM PST · by nickcarraway · 7 replies
    KOB4 ^ | November 15, 2017
    Sign-ups for Affordable Care Act health plans are running more than 45 percent ahead of last year's pace, according to government data released Wednesday. The numbers from the Centers for Medicare and Medicaid Services come as Republican senators are pushing to pay for tax cuts by repealing the "Obamacare" requirement to carry coverage. The new figures show that nearly 1.5 million consumers picked a plan through Nov. 11, compared to just over 1 million from Nov. 1-12 last year, a period that had included one additional day for consumers to enroll.
  • U.S. to Dominate Oil Markets After Biggest Boom in World History

    11/15/2017 12:20:50 PM PST · by Oatka · 51 replies
    Bloomberg via gCaptain ^ | Nov. 14, 2017 | Grant Smith
    <p>The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted. [snip] The boom will turn the U.S., still among the biggest oil importers, into a net exporter of fossil fuels.</p>
  • A Time for Tax Cuts

    11/14/2017 6:22:46 AM PST · by Kaslin · 5 replies ^ | November 14, 2017 | Terry Paulsen
    If Congress thought repealing Obamacare was tough, the fight to simplify the income tax code could end up being the fight of the decade. Nothing is more important to maintaining the Washington swamp than special interest exemptions, loopholes, and benefits. Lobbyists and accountants base their value on the ability to influence and/or navigate the complexities of the tax code that impacts us all. It’s no wonder that the DC suburbs account for seven of the ten richest counties in America. If you want to feed off the government largess, you have to come to the trough to fight for...
  • Turns out Trump didn’t ruin America’s economy

    11/12/2017 3:06:03 PM PST · by 2ndDivisionVet · 13 replies
    The New York Post ^ | November 11, 2017 | The Post Editorial Board
    Foreign tourism to New York City is set to rise 3.6 percent this year — defying yet another of the many doomsday predictions about Donald Trump’s presidency. Back in February, the city tourism agency said Trump’s “travel ban and related rhetoric” would mean a drop of 300,000 visitors this year. But the NYC & Co. prophecy proved false. Of course, other predictions were more dire — particularly those about the stock market. Finance expert Steve Rattner foresaw “a market crash of historic proportions” under a President Trump. Moody’s warned of a “weaker” economy. Many said 2 percent GDP growth was...
  • GOP Must Correct At Least Four Shortcomings of the House Bill

    11/11/2017 1:03:56 PM PST · by Tolerance Sucks Rocks · 19 replies
    The Club for Growth ^ | November 7, 2017 | Rachael Slobodien
    Washington, DC – Today, Club for Growth President David McIntosh issued the following statement as the House Ways and Means Committee continues to mark up the “Tax Cuts and Jobs” bill:“While the corporate tax cut will lead to some increase in our nation’s GDP, the rest of the provisions on individual taxpayers fails the pro-growth test,” Club for Growth President David McIntosh stated.“Republicans must correct at least four serious shortcomings of the House bill to follow through on campaign promises and to bring our nation closer to a tax reform proposal that is truly pro-growth.“1: millionaires’ tax rate: House Republicans...
  • California economy a measly 37th, behind Michigan and Ohio

    11/11/2017 6:20:25 AM PST · by artichokegrower · 33 replies
    American Thinker ^ | November 11, 2017 | Karin McQuillan
    California likes to boast that its booming economy is the sixth largest in the world – as calculated by its own state government. In contrast, rust belt states like Michigan and Ohio are seen as pathetic economic has-beens by the self-congratulating liberal elite. Not so fast, says Carson Bruno in Real Clear Markets. Adjust for cost of living, which is 36% higher than the national average, and California comes out behind Mexico:
  • Peak Oil? Majors Aren’t Buying Into Threat from Renewables

    11/10/2017 11:04:04 AM PST · by Oatka · 14 replies
    Reuters via gCaptain ^ | Nov. 9, 2017 | Ernest Scheyder and Ron Bousso
    Link only (Reuters)
  • Trump in Vietnam says U.S. will not 'surrender our sovereignty' in trade agreements

    11/10/2017 2:39:32 AM PST · by TigerLikesRooster · 22 replies
    UPI ^ | November 10, 2017 | Ray Downs
    Trump in Vietnam says U.S. will not 'surrender our sovereignty' in trade agreements By Ray Downs | Nov. 10, 2017 at 2:46 AM Nov. 10 (UPI) -- President Donald Trump took the stage at the Asia-Pacific Economic Cooperation summit in Vietnam Friday and said the United States will no longer "be taken advantage of" through trade agreements. "The U.S. is prepared to work with its Asian allies to achieve mutually beneficial commerce," Trump said. "I will make bilateral trade agreements with any Indo-Pacific nation that will abide by fair and reciprocal trade. What we will no longer do is enter...
  • The Developing Gig Economy:Freelancers Predicted to Become the US Workforce Majority Within a Decade

    11/08/2017 12:42:47 PM PST · by davikkm · 38 replies
    IWB ^ | Robert Carbery
    In mid-October, Upwork, a global freelancing platform where businesses and individual freelance workers connect and collaborate online, released the results of a new study on the gig economy, in conjunction with Freelancers Union, titled “Freelancing in America: 2017” — the most comprehensive measure of the U.S. independent workforce. This is the fourth annual study of the 57.3 million American freelance workers, which amounts to 36 percent of the U.S. workforce. This chunk of the world’s top economy contributes around $1.4 trillion per year, an almost 30 percent increase year-over-year, per Upwork’s report. The amazing takeaway from the world’s largest freelancing...
  • Shell to Build U.S.-Based LNG Bunkering Barge

    11/08/2017 2:54:44 PM PST · by Oatka · 9 replies
    gCaptain ^ | Nov. 7, 2017 | gCaptain
    Shell Trading (US) Company announced Tuesday it has finalized a long-term charter agreement with Q-LNG Transport, LLC for an ocean-going LNG bunker barge with the capacity to carry 4,000 cubic meters of LNG fuel. The bunker barge will be the first of its kind to be based in the United States, and will supply LNG to marine customers along the southern East Coast of the U.S. and support growing cruise line demand for LNG marine fuel. “This investment in LNG as a marine fuel for the US will provide the shipping industry with a fuel that helps meet tougher emissions...
  • Trump: My accountant says GOP tax bill is going to 'kill' me

    11/08/2017 2:27:43 PM PST · by Oldeconomybuyer · 26 replies
    San Francisco Chronicle ^ | November 8, 2017 | By Mike Moffitt
    President Donald Trump called from South Korea on Tuesday to share with Democrats what his accountant told him about the GOP tax measure, namely that he is "going to get killed in this bill." According to NBC News and other news outlets, the exact quote made by the president as he spoke to 12 Senate Democrats during a phone call was: "My accountant called me and said 'you're going to get killed in this bill.' The deal is so bad for rich people, I had to throw in the estate tax just to give them something."
  • Healthcare Spending Now Accounts For Almost One-Fifth Of The Entire U.S. Economy

    11/08/2017 5:34:18 AM PST · by ReformedMedia · 34 replies
    The Washington Standard ^ | 11-08-2017 | Michael Snyder
    Everybody agrees that healthcare costs are way too high. Back in 1960, healthcare spending accounted for approximately 5 percent of GDP, and by 2020 it is being projected that healthcare spending will account for 20 percent of GDP. And when you break those numbers down into actual dollars, they become even more staggering. Back in 1960, an average of $146 was spent on healthcare per person for the entire year, but today that number has skyrocketed to $9,990. On a per capita basis, we spend far more than anyone else in the world on healthcare. In fact, we spend almost twice as much as most other industrialized nations...
  • Trump rally: 3rd best since World War II

    11/07/2017 9:18:09 PM PST · by 2ndDivisionVet · 6 replies
    KITV-TV ^ | November 7, 2017 | Matt Egan, CNN Money
    NEW YORK (CNNMoney) -- It's easy to forget that the Trump rally started with palpable fear on Wall Street. Exactly one year ago, Donald Trump's shocking performance on election night sent shudders through global markets. Dow futures crashed by nearly 900 points as investors fretted about Trump's volatility and scary campaign promises on trade and immigration. "It was fear and panic that night," said Wade Balliet, chief investment strategist at Bank of the West. But the market freakout vanished by morning, and stocks started the Trump era on a decidedly optimistic note. "People quickly decided maybe it's not doomsday. Maybe...
  • Trump’s grade on the economy ticks back up to A-

    11/07/2017 10:29:33 AM PST · by NohSpinZone · 2 replies
    Yahoo! Finance ^ | 11/7/17 | Rick Newman
    Trump’s initial grade was a B when we launched the report card in May. Strong job growth — including the manufacturing sector — and the seemingly unstoppable stock market pushed his grade to B+ over the summer, then to A- in September. The grade fell by one notch after a weak employment report for September, which was largely due to hurricanes that slammed Texas and Florida. But hiring came back strong in October, pushing the grade back to A-.
  • Why the Left Has Been so Wrong About the Trump Boom

    11/07/2017 4:57:21 AM PST · by Kaslin · 29 replies ^ | November 7, 2017 | Stephen Moore
    Time magazine's cover story for the week of Nov. 6 is a classic. It blares: "The Wrecking Crew: How Trump's Cabinet Is Dismantling Government As We Know It." The New York Times ran a lead editorial complaining that team Trump is shrinking the regulatory state at an "unprecedented" pace. Meanwhile, last week the stock market raced to new all-time highs; we had another blockbuster jobs report with another fall in the unemployment rate; and housing sales soared to their highest level in a decade. Are the editors at Time and the Times so ideologically blinded that they are incapable of...
  • Democrats know corporate tax reform will juice the economy. That's why they once supported it

    11/06/2017 2:06:48 PM PST · by 2ndDivisionVet · 2 replies
    The Washington Examiner ^ | November 6, 2017 | Staff
    Democrats are freaking out about the Republicans’ tax cut bill, and for good reason. While the Democrats and their friends in the media will say the cuts in corporate taxes are a giveaway to big business, this is a transparently disingenuous critique. We know that because Democrats, when in charge, proposed their own massive cuts to the corporate tax rate, which gives away the game. Why would Democrats want simplification and rate reduction in corporate taxes when they are in charge, but oppose it when Republicans are in charge? Because they know it will work. President Barack Obama in 2012...
  • The Saudi purge will change how investors view the Kingdom

    11/05/2017 9:00:28 PM PST · by TigerLikesRooster · 18 replies
    CNBC ^ | 2017/11/05 | Sri Jegarajah
    The Saudi purge will change how investors view the Kingdom Saudi Arabia suddenly arrested powerful royals and businessmen over the weekend As investors digest the news, they may demand higher returns from Saudi assets to offest the political risks Sri Jegarajah | @cnbcSri Saudi Arabia suddenly arrested powerful royals and businessmen over the weekend, in what officials call an anti-corruption drive, but outside observers deem domestic power consolidation. Either way, the move is likely making investors see Saudi assets as riskier, so they're set to demand higher returns. Some believe the extraordinary purge is an attempt by 32-year-old Crown Prince...
  • Service sector posts best reading since ’05: Accounts for more than 70% of U.S. jobs

    11/04/2017 10:30:20 AM PDT · by 2ndDivisionVet · 21 replies
    The Portland Press Herald ^ | November 3, 2017 | Josh Boak, The Associated Press
    U.S. services companies in October grew at the best rate in more than a dozen years. The Institute for Supply Management said Friday that its services index rose last month to 60.1 from 59.8 in September. Any reading above 50 signals expansion. The October reading was the biggest since August 2005. The services sector has reported growth for 94 consecutive months. The strength in the services sector is emblematic of a U.S. economy that looks increasingly healthy. Employers added a robust 261,000 jobs in October, the Labor Department said Friday. Economic growth climbed above an annualized level of 3 percent...