Keyword: economy

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  • US Steel wants to accelerate investments, bring back jobs, CEO says

    12/07/2016 5:48:15 PM PST · by MaxistheBest · 14 replies
    CNBC.com ^ | 12/07/2016 | Michelle Fox
    U.S. Steel CEO: All we've been looking for is fairness US Steel CEO: All we've been looking for is fairness 7 Hours Ago | 04:56 United States Steel would like to accelerate its investments and hire back laid-off employees now that Donald Trump will be occupying the Oval Office, CEO Mario Longhi told CNBC on Wednesday. "We already structured to do some things, but when you see in the near future improvement to the tax laws, improvements to regulation, those two things by themselves may be a significant driver to what we're going to do," he said in an interview...
  • What the Dakota Access Pipeline Is Really About

    12/07/2016 2:25:44 PM PST · by KeyLargo · 52 replies
    The Wall Street Journal ^ | Dec 7, 2016 | Kevin Cramer
    What the Dakota Access Pipeline Is Really About The standoff isn’t about tribal rights or water, but a White House that ignores the rule of law. Kevin Cramer A little more than two weeks ago, during a confrontation between protesters and law enforcement, an improvised explosive device was detonated on a public bridge in southern North Dakota. That was simply the latest manifestation of the “prayerful” and “peaceful” protests against the Dakota Access Pipeline. Escalating tensions were temporarily defused Sunday when the U.S. Army Corps of Engineers, at the direction of the Obama administration, announced it would refuse to grant...
  • How the tech industry helped elect Donald Trump

    12/07/2016 1:09:47 PM PST · by 2ndDivisionVet · 5 replies
    CIO ^ | December 7, 2016 | Preston Gralla, Contributing Editor, Computerworld
    To some extent, blue-collar workers gave back to Silicon Valley a bit of the disruption it has long given them Nearly the entire tech industry, with the exception of PayPal founder and venture capitalist Peter Thiel, publicly lined up against Donald Trump and for Hillary Clinton in the recent presidential election. But words are one thing and actions another. And actions taken by the tech industry in the last decades helped seal Trump’s surprise victory. Trump won, in large part, thanks to support by blue-collar voters without college degrees in the Rust Belt, particularly in Ohio, Pennsylvania, Wisconsin and Michigan....
  • Opinion: Will Trump usher in an economic boom?

    12/07/2016 12:56:48 PM PST · by 2ndDivisionVet · 35 replies
    Market Watch ^ | December 7, 2016 | Darrell Delamaide
    Will President Donald Trump usher in an economic boom? In case you haven’t noticed, while liberals fret about who Trump is talking to on the phone and conservatives fret about trade wars and deficits, the stock market is going crazy. Irrational exuberance or eager anticipation of a rebounding U.S. economy unshackled from over-burdensome regulations, high corporate taxes and too-timid fiscal policy? Irrational exuberance or eager anticipation of a rebounding U.S. economy unshackled from over-burdensome regulations, high corporate taxes and too-timid fiscal policy? Paul McCulley, former chief economist for Pimco, says it’s the latter. “The market is essentially celebrating the end...
  • Trump's win pushed this manufacturer to return to the U.S. (Trans-Lux)

    12/07/2016 12:44:57 PM PST · by 2ndDivisionVet · 23 replies
    CNN Tech ^ | December 7, 2016 | Parija Kavilanz
    Donald Trump's win in November was the final nudge for one manufacturer to move its production back home from China. For over a year, New York-based Trans-Lux -- which makes LCD and LED displays -- has contemplated relocating its Chinese facilities to the U.S. "It makes economic sense," said J.M. Allain, president & CEO of Trans-Lux, which also makes the huge digital screens that run the tickers at the New York Stock Exchange. To cut costs, the company exported much of its production two decades ago to Shenzhen in southeast China, a manufacturing hub for electronics. But as China's economy...
  • Foxconn says in preliminary discussions to expand U.S. operations

    12/07/2016 11:59:53 AM PST · by 2ndDivisionVet · 2 replies
    Yahoo! Sports ^ | December 7, 2016 | Reuters
    TAIPEI (Reuters) - Foxconn, the world's largest contract electronics manufacturer and a major Apple Inc supplier, said on Wednesday that 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. On Tuesday, Masayoshi Son of Japan's SoftBank Group Corp <9984.T> said he would invest $50 billion in the United States and create 50,000 new jobs, a move U.S. President-elect...
  • Western counties join in opposition to BLM’s land-use plan [ Colorado ]

    12/07/2016 9:02:09 AM PST · by george76 · 6 replies
    Grand Junction Media ^ | December 6, 2016 | Gary Harmon
    County officials in western Colorado have regularly lambasted Planning 2.0 and this week, Garfield County joined in with five other counties in the western United States considering suing to halt the rule, which they have criticized as a central-planning measure. The BLM this month announced that the rule was final and on Monday, Garfield County agreed to spend as much as $40,000 with the Texas-based property-rights organization, the American Stewards of Liberty, to halt it. While Garfield County is taking an active role, Mesa County officials are looking to Congress and a Republican administration under President-elect Donald Trump to deal...
  • 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...
  • Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S.

    12/06/2016 11:15:18 AM PST · by jennychase · 30 replies
    twitter ^ | 12/6/2016 | Trump
    Donald J. Trump ‏@realDonaldTrump 8m8 minutes ago Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs....
  • 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....
  • 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...
  • "I was not completely surprised when Trump won" says Rem Koolhaas (World-renowned architect)

    12/05/2016 12:35:15 PM PST · by 2ndDivisionVet · 17 replies
    Dezeen ^ | December 5, 2016 | Marcus Fairs
    An obsession with cities has masked profound changes in rural America that helped Donald Trump sweep to victory in the US presidential election, according to architect Rem Koolhaas. "I'm not saying that Trump was inevitable but the scale of upheaval in the centre of America made it very understandable for me that something else was going to happen," the founder of OMA told Dezeen. "I was not completely surprised when Trump won." The Dutch architect also attacked the "complacency" of Silicon Valley firms, who have for years preached the benefits of disruption. "For me, one of the very good things...
  • Why is the media on the left? Why the contempt for workers?

    12/05/2016 2:46:07 AM PST · by expat_panama · 40 replies
    Asia Times ^ | December 4, 2016 11:14 PM (UTC+8) | Reuven Brenner
    I spent the first fourteen years of my life under communism. When my parents got out in 1962, I realized to my utter astonishment that much of academia was on the left, praising communism, rationalizing increased centralization of powers under a variety of jargons. Even the US was not immune to these ideas, and that the left and academia despised workers who wanted routine lives, rather than revolutions. All this came to my mind during the last few weeks, both with Fidel Castro’s deat... ...cry their hearts out again about the increased inequality – which, with minimal introspection, would have...
  • Jobless Rate Dives To 9-Year Low; Is Labor Market Too Tight?

    12/05/2016 2:46:05 AM PST · by expat_panama · 69 replies
    Investors Business Daily ^ | 12/02/2016 | JED GRAHAM
    The U.S. economy added 178,000 jobs in November as the unemployment rate fell to 4.6%, the lowest since 2007, the Labor Department said Friday morning. Economists had expected a gain of 170,000 jobs and an unchanged 4.9% jobless rate. Employers in professional and business services added 63,000 jobs, while health care sector employment rose by 28,000 and construction 19,000. Manufacturing shed 4,000 jobs. October payroll growth was revised down by 19,000 to 142,000, but that was largely offset by an upward revision to September's job gain of 17,000 to 208,000. The unemployment rate fell in large part because the labor...
  • Here's Why Trump's Carrier Deal Is So Important

    12/05/2016 2:46:03 AM PST · by expat_panama · 38 replies
    Investors Business Daily ^ | 12/02/2016 | Editorial
    Economy: President-elect Trump's deal with Carrier isn't important because it saved 1,000 jobs. It's important because of the message it sends to businesses everywhere: Help is on the way. The reaction to Carrier's decision to retain some of its employees after meeting with Trump has been amusing. On the one hand, Trump's critics say the deal was a mere trifle, since there are still so many people out there hurting. On the other hand, they claim that Trump is acting like a third-world despot. A few headlines paint the picture: "Trump's Carrier Victory Is the Economy's Loss" "Trump's Carrier deal...
  • Nigerian community in U.S. lauds appointment of Ogunlesi into Trump’s Economic Advisory Team

    12/04/2016 8:25:55 PM PST · by 2ndDivisionVet · 8 replies
    The World Stage ^ | December 4, 2016 | News Agency of Nigeria
    The Nigerian community in the U.S. has lauded the appointment of Bayo Ogunlesi by President-elect Donald Trump into his Economic Advisory Team. The appointment, they said, could signal a positive trend for Africa. The Nigerians told the Correspondent of the News Agency of Nigeria (NAN) in New York, that Ogunlesi had been an excellent ambassador for Africa and Nigeria in particular. Mr Michael Adeniyi, former President of a Nigerian U.S.-based group, the Organisation for the Advancement of Nigerians Inc. (OAN Inc), told NAN that “Bayo Ogunlesi is an excellent and extraordinary Nigerian. “He is very humble, brilliant and outstanding in...
  • China Joins Mexico and Finds Out President-elect Donald Trump Wasn’t Kidding…

    12/04/2016 6:04:45 PM PST · by HarleyLady27 · 16 replies
    The Conservative Treehouse ^ | Dec.4, 2016 | Sundance
    President-elect Donald Trump reminds the world “America-First” is a policy, not a suggestion:
  • China, its Currency Brace for Impact of Trump Policies

    12/04/2016 4:27:40 PM PST · by TigerLikesRooster · 9 replies
    VOA News ^ | November 18, 2016 | William Ide Saibal Dasgupta
    China, its Currency Brace for Impact of Trump Policies BEIJING - On his first day in office, U.S. President-elect Donald Trump has said that one of the seven acts he will take to protect American workers is to label China a currency manipulator. Although analysts in China and in the United States are skeptical that he will follow through on that pledge and others such as tariffs on Chinese goods, Beijing is nervous, nonetheless. Bracing yuan Since Trump was elected last week, China’s currency has not only slipped to eight-year lows, dropping below a psychological threshold of 6.8 Chinese yuan...
  • Trump Base Still Expanding – Blue Collar Workers Optimistic…

    12/04/2016 6:43:51 AM PST · by HarleyLady27 · 74 replies
    NYPost The Conservative Treehouse ^ | Nov 3, 2016 | Sundance
    As the Democrat Party continues to debate how to regain their relevance, the Trump coalition continues to grow even after the election. Donald Trump’s political influence as a businessman, now President-elect, exists in that rare authentic space where traditional politicians have consistently failed. Not only is Trump completely reshaping the republican party, more importantly he’s establishing a coalition that will overwhelm any DC opposition in the short-term, and make any political opposition futile in the long-term. Legendary winning!
  • Stripped of Accounting Gimmicks, the US Has Been on the Verge of Recession since 2011

    12/03/2016 8:53:23 AM PST · by Rockitz · 40 replies
    ZeroHedge.com ^ | 2 December 2016 | Phoenix Capital
    The Fed has a very serious problem on its hands. That problem concerns the fact that for seven years the Fed has spread the myth of a “recovery.” I say “myth” because the reality is that when you remove accounting gimmicks, the US has been a “hair’s breadth” away from a recession since 2010. The most obvious gimmick being employed is the phony “deflator” used to understate inflation and overstate growth. Everyone knows that the official CPI measure for inflation is bogus. But the Fed routinely uses a deflator that is even lower that CPI when calculating GDP. This sounds...
  • Reinstituting earmarks could benefit region (BARF)

    12/03/2016 1:04:05 AM PST · by Tolerance Sucks Rocks · 12 replies
    The Altonna Mirror ^ | November 27, 2016 | Altoona Mirror editorial board
    Earmarks again are a topic in Congress, and people in this part of Pennsylvania shouldn’t condemn them. Back in the 1970s, when highway construction was booming around the biggest population centers of the Keystone State, places like Altoona, Johnstown, Ebensburg and Bedford were told that once those projects were completed, work would begin on their roadway needs.But as the large-scale projects around Philadelphia, Harrisburg, Pittsburgh and Erie were completed, the promises that had been made to Blair County and other smaller-population areas, didn’t materialize because of alleged money shortages.The message seemed to be: “We’ll get to you sometime, but for...
  • An Open Letter to Jennifer Palmieri

    12/02/2016 7:39:59 PM PST · by pboyington · 23 replies
    US Defense Watch ^ | December 2, 2016 | Ray Starmann
    Reports of your heated exchange with President-Elect Trump’s campaign manager Kellyanne Conway at the Harvard post-election forum have been rampaging through the mainstream and alternate media like a five alarm fire for the last 24 hours. Apparently, during the forum, you accused Mr. Trump and Ms. Conway of ‘providing a platform for white supremacists’ during the election. I seriously doubt that the 62.6 million Americans who voted for Mr. Trump were all white supremacists. But, that’s how liberals operate. Anyone that doesn’t agree with your warped, Eurocrap vision for America is a racist, a sexist, a homophobe, an Islamophobe or...
  • Ford Open to Deals With Trump to Keep Jobs in U.S., CEO Says

    12/02/2016 7:24:31 PM PST · by LesbianThespianGymnasticMidget · 81 replies
    bloomberg ^ | December 2, 2016 | Keith Naughton
    <p>Ford Motor Co. is willing to work with Donald Trump to keep jobs in the U.S. if he puts the right policies in place, the automaker’s chief executive officer said.</p> <p>“We will be very clear in the things we’d like to see,” Mark Fields said in an exclusive interview at Bloomberg offices in Southfield, Michigan. “We’ll continue to advocate for currency-manipulation rules to promote free and fair trade. One of our priorities is making sure fuel-economy standards reflect market realities, tax reform in general we would be very supportive of, and the safe deployment of autonomous vehicles.”</p>
  • Just One Thing Matters In Friday's Jobs Report

    12/02/2016 3:05:01 AM PST · by expat_panama · 23 replies
    Investors Business Daily ^ | 12/2/2016 2:23 PM ET | JED GRAHAM
    The U.S. economy likely added 175,000 jobs last month as the unemployment rate held steady at 4.9%, Wall Street economists are estimating ahead of Friday's employment report out at 8:30 a.m. ET. The economy has a bit of momentum, the Federal Reserve is set to hike rates in two weeks and nothing in Friday's jobs report can possibly change that. The real issue for markets is all about expectations. Investors are beginning to assess what the Trump fiscal package of tax cuts and infrastructure spending means for growth as well as inflation... ...in every single jobs report from here on...
  • Why Italy Matters [AFTER BREXIT & TRUMP, IT'S NOW "ITALY FIRST"]

    12/02/2016 3:01:26 AM PST · by expat_panama · 19 replies
    Investors Business Daily ^ | 11/30/2016 | ROBERT J. SAMUELSON
    Italy may be the next stop on the world's journey to more economic nationalism. First we had Brexit — Britain's decision to leave the European Union. Then we had the election of Donald Trump as the next U.S. president, pledging to put "America first" in his policies. Now Italy may be treading down the same path. What's at issue is a constitutional referendum, scheduled for Dec. 4, that would make it easier for the parliament to pass measures intended to improve a lackluster economy. But the latest polls suggest the referendum will fail, placing Italy in a precarious economic and...
  • House Republicans Want to Make the Wrong Change to the Corporate Tax [CUTS ONLY FOR EXPORTERS]

    12/02/2016 2:58:01 AM PST · by expat_panama · 8 replies
    Reason ^ | December 1, 2016 | Veronique de Rugy
    Economic research shows that the corporate tax is harmful to workers' wages and overall economic growth. If left to their own devices, politicians still wouldn't be likely to reduce or eliminate the destructive tax. They only act when tax competition—whereby taxpayers shop around for favorable tax environments—forces their hand. That's why it is alarming that House Republicans—I repeat, House Republicans—are talking about a change to the corporate tax that would insulate it from competitive pressures going forward. The change in the Ryan-Brady blueprint (as in Speaker of the House Paul Ryan and Chairman of the Joint Economic Committee Kevin Brady)...
  • 'Panic in Progressive Park' -- What If Trump Is Actually Good?

    12/01/2016 11:34:44 PM PST · by 2ndDivisionVet · 44 replies
    PJ Media ^ | December 1, 2016 | Roger L. Simon
    If you thought Trump Derangement Syndrome was a tad excessive, as they say, you ain't seen nothin' yet. To channel an old Pacino flick, opening now for Oscar season, it's "Panic in Progressive Park." Reason for the panic -- the dawning realization, repressed and often unrecognized though it may be, that Donald Trump may even a be a good president, possibly a great one. Then what? If anything could cause panic among liberals, progressives, and the media (apologies for the redundancy), that's it. And Trump has certainly hit the ground running with more "vigah" -- this time to channel an...
  • Flashback: Obama Mocks Trump for Promising to Keep Carrier Plant in U.S.

    12/01/2016 7:27:36 PM PST · by SkyPilot · 36 replies
    Grabien News ^ | 1 Dec 16 | Staf Writer
    n June, President Obama participated in a PBS townhall and was asked about Trump's promise to keep Carrier's Indiana plant in the U.S. The townhall participant -- Eric Cottonham, a member of the Steelworkers Union employed by Carrier -- asked Obama if anything could be done to stem the tide of jobs flowing out of the country, as Trump had recently promised to do. "I see here you’re doing a lot of things, but in Indianapolis, there’s nothing there for us," he asked. "I mean, what’s next? I mean, what can we look forward to in the future as far...
  • Apoplectic Liberals Furious Over Trump’s Proposed Economic Freedom…

    12/01/2016 1:47:03 PM PST · by HarleyLady27 · 30 replies
    The Conservative Treehouse ^ | Dec. 1, 2016 | Sundance
    It is going to take years to break through the false constructs of radical left-wing economic principles which have been sold by modern academia and corporate media. However, eventually people will recognize once again that being allowed to keep their own money, the outcome of their own labor, is not an expense on government.
  • Fight over 'Buy America' provision erupts in Congress

    12/01/2016 1:16:21 PM PST · by Theoria · 19 replies
    The Hill ^ | 01 Dec 2016 | Melanie Zanona
    A last-minute fight over a “Buy America” provision has erupted in the final negotiations over a waterways bill. At issue is language included in the Senate-passed version of the Water Resources Development Act (WRDA) that would require American iron and steel products be used in projects assisted by the Drinking Water State Revolving Fund. Sources familiar with the negotiations say Speaker Paul Ryan (R-Wis.) is actively pushing to strip the provision from the bill. Supporters of the provision say Ryan's push is at odds with President-elect Donald Trump’s promise to support American manufacturers and create jobs for the middle class....
  • Pending Home Sales Edge Higher, Midwest Factories Rev Up

    12/01/2016 2:51:31 AM PST · by expat_panama · 18 replies
    Pending home sales rose less than expected in October as mortgage rates were rising. Meanwhile, Chicago-area factory activity expanded at its fastest pace in nearly two years in November. Pending home sales rose 0.1% last month, the National Association of Realtors said Wednesday. Economists had expected a 0.8% increase. The index measures contract signings of existing homes. That foreshadows what existing-home sales closings will likely be in a month or two. NAR cited ongoing tight supply of homes for sales for limiting demand. But mortgage rates also were rising. After the Nov. 8 election, mortgage rates skyrocketed along with Treasury...
  • Thanks To 'Fight For $15' Minimum Wage, McDonald's Unveils Job-Replacing Self-Service Kiosks

    12/01/2016 2:51:29 AM PST · by expat_panama · 74 replies
    Forbes ^ | Nov 29, 2016 @ 01:37 PM | Ed Rensi
    Mr. Rensi is the former president and CEO of McDonald’s USA. McDonald’s restaurant employees rally after walking off the job to demand a $15 per hour wage and union rights during nationwide ‘Fight for $15 Day of Disruption’ protests on November 29, 2016 in Los Angeles, California. (David McNew/Getty Images) As the labor union-backed Fight for $15 begins yet another nationwide strike on November 29, I have a simple message for the protest organizers and the reporters covering them: I told you so. It brings me no joy to write these words. The push for a $15 starter wage has...
  • Professionals in These Two Asian Cities Say Donald Trump Will Be Good for Business

    11/30/2016 7:06:12 PM PST · by 2ndDivisionVet · 3 replies
    Fortune ^ | November 30, 2016
    More than half of all business professionals in two financial hubs in Asia are viewing the results of the U.S. election in a positive light, according to a survey conducted two weeks after Donald Trump emerged as the victor. The survey, conducted in the financial districts of Hong Kong and Shanghai by deVere Group, an international financial consultancy, found that 55% of the over 650 people interviewed for the study think that a Trump presidency will be positive for the global economy. Even so, over two thirds of those interviewed were surprised by the result of the election, with 32%...
  • President-Elect Trump Announces Economic Nationalist Dream Team: Mnuchin, Ross and Ricketts

    11/30/2016 3:36:49 PM PST · by HarleyLady27 · 31 replies
    The Conservative TreeHouse ^ | Nov 30, 2016 | Sundance
    “We have the most killer deal-makers… we never use them, I know many of them… these guys are brutal… hard… and Obama uses Kennedy in Japan, I mean give me a break… we need strength”… “and we will win, and you will win, and we will keep on winning, and eventually you will say we can’t take all of this winning, …please Mr. Trump …and I will say, NO, we will win, and we will keep on winning”. ~ Donald Trump
  • Donald Trump is already helping the working class

    11/30/2016 12:12:30 PM PST · by monkapotamus · 18 replies
    New York Post ^ | November 30, 2016 | Jonathon M. Trugman
    It’s not uncommon for a Republican to be pro-business. But President-elect Donald Trump showed Tuesday night he’s pro-worker, too, by saving 1,000 jobs at the Carrier plant in Indiana. His standing up for the blue-collar workers who helped get him elected is no small feat, even for the very accomplished billionaire, who has a long record of delivering under budget and on time. Sure, it’s unusual for a president-elect to interject himself in the economic mechanizations of a specific company — let alone the economy writ large — but everything about Trump being the next president is unusual... The brutally...
  • Trump’s Path to Mount Rushmore

    11/30/2016 11:40:21 AM PST · by 2ndDivisionVet · 24 replies
    The American Interest ^ | November 27, 2016 | Walter Russell Mead
    Smart energy policy could give the next President his best prospect for spurring growth in manufacturing jobs—and thus delivering on the promises his voters think matter most. Pundits are terrible at predicting presidencies; remember the hymns to the greatness of the Second Lincoln, the New Roosevelt, and the Democratic Reagan that wafted to the heavens during the Obama transition. And the pundits were even worse at predicting Trump’s fate during the election; how many times did they predict his demise? But now, as convinced as ever of his incompetence and their infallibility, the punditocracy is telling us why the Trump...
  • 6 million Americans have stopped paying their car loans, and it's becoming a 'significant concern'

    11/30/2016 10:18:58 AM PST · by SeekAndFind · 86 replies
    Business Insider ^ | 11/30/2016 | Matt Turner
    There is a lot of talk out there about the auto-loan market right now. Hedge fund manager Jim Chanos has said the auto-lending market should "scare the heck out of everybody," while the auto-lending practices of some used-car dealerships has been given the John Oliver treatment on TV. It's a topic we've been paying attention to as well. In a presentation in September at the Barclays Financial Services Conference, Gordon Smith, the chief executive for consumer and community banking at JPMorgan, set out some eye-opening statistics on the market. Now the New York Federal Reserve is taking a closer look...
  • Economy Rose At Fastest Pace In 2 Years As Consumer Confidence Soars

    11/30/2016 5:01:38 AM PST · by expat_panama · 21 replies
    Investors Business Daily ^ | 11/29/16 4:13 PM ET | ED CARSON
    The U.S. economy expanded at a 3.2% annual rate in the third quarter, the Commerce Department said Tuesday. That's the strongest growth since the second quarter of 2014 and revised up slightly from the initial reading of a 2.9% gain. Economists had expected a 3.1% revised reading. Consumer spending rose at a 2.8% pace, faster than the initial reading of 2.1%. . Separately, the Conference Board's Consumer Confidence Index shot up 8.5 points in November to 107.1, the highest since July 2007 and much better than views for a rise to 101. The reading, which reflects post-election sentiment, showed consumers...
  • Bye-Bye, ObamaCare: Tom Price To Head HHS

    11/30/2016 3:11:14 AM PST · by expat_panama · 58 replies
    Investors Business Daily ^ | 11/29/16 6:21 PM ET | Editorial
    ObamaCare: Tom Price, the Republican congressman and former physician from Georgia, has been named by Donald Trump to head the Department of Health and Human Services. For those who harbored any doubts about Trump's commitment to repealing ObamaCare, you can now rest easy. Price, a former orthopedic surgeon, is known as Congress' most astute critic of the Affordable Care Act, having practiced medicine himself and understanding fully its many flaws. He will be ready on Day One to find a way to replace the 2010 health care law, which was passed by Democrats without a single Republican vote. We're sure...
  • Trump Should Tread Softly On His New Trade Agenda

    11/29/2016 3:29:25 AM PST · by expat_panama · 39 replies
    Investors Business Daily ^ | 11/28/16 2:03 PM ET | DAVID MCINTOSH and SCOTT LINCICOME
    President-Elect Donald Trump has released an ambitious to-do list. His plans for cutting individual and corporate taxes, for repealing and replacing ObamaCare, and for regulatory reform all hold great promise. But his threat to dismantle the North American Free Trade Agreement (NAFTA)... ...remember the tremendous benefits of trade, particularly through NAFTA. About one-third of all U.S. merchandise exports are bought by Mexico and Canada, and exports from our service industries and from the agriculture sector have risen dramatically under the agreement. Thanks to imports, American families effectively stretch their pay check... ...imposition of tariffs punishes all American consumers, and businesses...
  • The States' Trump Card against the Fed

    11/29/2016 3:26:53 AM PST · by expat_panama · 24 replies
    The American Thinker ^ | November 29, 2016 | Fritz Pettyjohn
    A fourth branch of government was created by Article V of the Constitution, superior to the other three. It consists of 7,382 voting members, distributed in the 50 States. In order to act, this fourth branch, which I call the Federal Assembly, must organize itself into a two-thirds supermajority of the States in order to make a proposal. Majorities in both houses of a state legislature in 34 states must agree on the subject matter... ...three-fourths supermajority of states is required to adopt it. It's hard, and it's never been done in the 229 years we've had the Constitution –...
  • Cramer: 'Anything that Trump said is going to come true'

    11/28/2016 3:18:23 PM PST · by 2ndDivisionVet · 7 replies
    CNBC ^ | November 28, 2016 | Berkeley Lovelace Jr.
    The post-election market rally can be attributed to President-elect Donald Trump's vows coming to fruition, CNBC's Jim Cramer said Monday. "This is a remarkable rally because it's based on everything that this guy says — like anything that Trump said is going to come true." Cramer said on "Squawk on the Street." "And I think that's because people just feel like the Republican Party's going to fall in line." Major U.S. equity indexes have spiked since Trump's victory over Hillary Clinton in the Nov. 8 election. The Russell 2000 has notched its longest daily winning streak since 1996. Cramer said...
  • Pelosi Challenger: Dems Failed Because We Didn't Focus on Economy

    11/28/2016 3:45:03 PM PST · by Son House · 62 replies
    Fox News Sunday ^ | Nov 27, 2016 | Fox News Sunday with Chris Wallace
    Ohio Democratic Rep. Tim Ryan told Chris Wallace that the Democratic caucus' failure in this past election is due to the fact that their legislators have not concentrated enough on economic issues. Ryan, 43, who is challenging Rep. Nancy Pelosi (D-Calif.) for her House Minority Leader position, said "a robust economic message that covers everybody" is the best prescription for Democrats' success in the future.
  • Saudis believe Trump will unleash America's economy

    11/28/2016 10:50:37 AM PST · by 2ndDivisionVet · 1 replies
    CNN Money ^ | November 28, 2016 | Matt Egan
    Count Saudi Arabia among the believers in Donald Trump's ability to make America grow again. Saudi Arabia is downplaying the need for OPEC to make good on its promise to cut oil production at Wednesday's meeting in Vienna. That promise was originally made in September, back when President-elect Trump was still a long shot to win the White House. But Khalid al-Falih, the Saudi energy minister, on Sunday said there will be more thirst for oil in 2017 and oil prices will stabilize without OPEC intervention. OPEC doesn't need to cut output, Falih said, because "we can also depend on...
  • Surging homeowner loans in China raise alarms over debt

    11/28/2016 8:35:42 AM PST · by TigerLikesRooster · 9 replies
    Japan Today ^ | Nov. 28, 2016
    Surging homeowner loans in China raise alarms over debt →Business Nov. 28, 2016 - 06:30AM JST BEIJING ? Chinese household debt has risen at an “alarming” pace as property values have soared, analysts say, raising the risk that a real estate downturn could send shockwaves through the world’s second largest economy. Loose credit and changing habits have rapidly transformed the country’s famously loan-averse consumers into enthusiastic borrowers. Skyrocketing real estate prices in major Chinese cities in recent years have seen families’ wealth surge. But at the same time they have fuelled a historic boom in mortgage lending, as buyers race...
  • Opinion 2016 election aftermath - Inside the market’s love affair with Trump

    11/28/2016 3:10:05 AM PST · by expat_panama · 14 replies
    New York Post ^ | November 27, 2016 | 8:31pm | Charles Gasparino
    It’s fair to say the stock market is over its early jitters about a Donald Trump presidency. All major indices have risen to record levels for the first time in nearly 20 years, and the Dow Jones Industrial Average is up more than 800 points since Trump’s victory. And what’s not to like — at least so far? As I pointed out on these pages both before and after Trump’s victory, the market’s initial reaction to a wild card like Trump was overwrought, and his free-market prescriptions were exactly what was missing from the eight years of Obamanomics — and...
  • Americans Are Voting Again This Weekend

    11/27/2016 10:17:16 AM PST · by Strac6 · 31 replies
    She Who Must Obeyed (Mrs. Strac) | Vanity
    Mrs. Strac and three friends just returned from two hours of retail therapy. In most years, the stores at all the local malls would be overflowing with merchandise this weekend. Today, they were full of shoppers, but almost empty of items to purchase. The shelves were actually bare in many departments. Mrs. Strac questioned a number of managers and received the same reply from each. They all reported they had been overflowing with merchandise on Friday, but as soon as the stores opened, they were inundated with record numbers of purchasers. These were not just “tire-kickers” but actual buyers. In...
  • UK Firms Show No Brexit Hit in Third Quarter as Investment Grows

    11/26/2016 1:02:37 AM PST · by GonzoII · 3 replies
    Reuters/Breitbart ^ | 25 Nov 2016 | Breitbart London
    (Reuters) – British companies brushed off the uncertainty over Brexit in the three months after June’s referendum and increased their investment, helping to drive solid growth in the economy, official data showed on Friday.
  • For some in middle class, Trump plan would mean tax increase (barf)

    11/25/2016 9:12:57 PM PST · by Freedom'sWorthIt · 17 replies
    WRALTV via AP ^ | 11/25/16 | Christopher Rugaber
    WASHINGTON — President-elect Donald Trump's proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families — including a majority of single-parent households — the opposite would occur: They'd pay more. Most married couples with three or more children would also pay higher taxes, an analysis by the nonpartisan Tax Policy Center found. And while middle-class families as a whole would receive tax cuts of about 2 percent, they'd be dwarfed by the windfalls averaging 13.5 percent for America's richest 1 percent.