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Keyword: economy

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  • 10 Things Learned From 3 Days In Washington D.C. (An AMAZING Pro-Trump Read!)

    01/22/2017 7:02:06 PM PST · by vannrox · 50 replies
    zero hedge ^ | 23JAN17 | Submitted by John Mauldin via,
    Submitted by John Mauldin via,I have been in Washington DC for the last three days. The ostensible reason was to participate in a board meeting of a public company, Ashford Inc. (AINC). We manage hotel REITs that own three hotels here in DC, and the group decided to move our board meeting up a few weeks and hold it in DC during the inauguration. That gave me the opportunity to set up a few meetings to try to gain some insight into what the first 100 days, the first six months, and the first year of the Trump...
  • Jack Ma Accuses The US Of Spending $14 Trillion On War Instead Of Its People

    01/23/2017 1:26:44 AM PST · by vannrox · 26 replies
    zero hedge ^ | Jan 22, 2017 8:18 PM | Tyler Durden
    In a CNBC clip, which slipped between the cracks last week,  Alibaba founder Jack Ma, who has been busy trying to get into Donald Trump's "circle of trust", spoke in Davos and blamed the problems of the United States on the United States itself, as a country which has spent trillions of dollars to wage war, instead of investing in infrastructure and its own people.Asked by Andrew Ross Sorkin about Trump's decision to impose new tariffs on Chinese imports to protect domestic American manufacturers, Ma said blaming China for any economic issues in the U.S. is misguided. If America...
  • Accept President Trump and hold him accountable for promised change

    01/22/2017 11:41:54 PM PST · by 2ndDivisionVet · 22 replies
    The Seattle Times ^ | January 20, 2017 | The Editorial Board
    American elected a president who promised change. It’s time to start encouraging him to make changes that benefit everyone. ALTHOUGH it won’t be easy for some, it’s time for Americans to get used to the sound of President Trump. We must now accept his presidency and press him to follow through on his promises to grow the economy, strengthen America and revitalize its middle class. This will require faith and engagement. This editorial board, which endorsed Hillary Clinton for president, and other citizens will be challenged to look beyond Trump’s rhetoric — and troubling tweets — to assess actual policy...
  • President Trump Touts Job Creation, Economic Growth at Inauguration

    01/22/2017 2:34:08 PM PST · by Kaslin · 6 replies ^ | January 22, 2017 | Paul Dykewicz
    WASHINGTON--President Donald Trump vowed in his inaugural speech, following his oath of office Friday, to pursue policies that would spur economic growth, create jobs and protect American interests.An effect likely would be to boost demand for crude oil, which rose in price more than 2% on Inauguration Day, with part of the gain coming after his address. U.S. energy companies, among others, may benefit from his policies.Oil prices could be affected further after Sunday’s meeting in Vienna, Austria, between members of the Organization of Petroleum Exporting Countries and some other oil-producing countries, including Russia, which are trying to agree...
  • One lesson from Trump: Focus on own citizens

    01/22/2017 12:13:52 PM PST · by Jyotishi · 13 replies
    The Pioneer, Ideal Media ^ | Sunday, January 22, 2017 | Swapan Dasgupta
    There is a cynical expectation, at least among the global punditry, that wise politicians employ any expedient rhetoric to win elections and that, once victorious, do precious little to unsettle a cosy consensus. There was a quiet expectation in some quarters that the 45th President of the United States would do precisely that. Even after he made a joke of the entire polling industry and beat Hilary Clinton on November 8, there was a belief that Donald Trump should be allowed his indulgences -- such as engaging with Taiwan and describing NATO as 'obsolete' -- till his inauguration on January...
  • Manufacturing CEOs readying for the expected Trump expansion

    01/21/2017 9:53:22 PM PST · by 2ndDivisionVet · 14 replies
    The Washington Examiner ^ | January 22, 2017 | Salena Zito
    President Trump says he will be the greatest jobs producer God ever created. "I'm going to work very hard on that. We need certain amounts of other things, including a little bit of luck, but I think we're going to do a real job," he said recently. While his critics laughed and economists urged caution, the truth is American manufacturing is already showing signs of confidence and optimism about a Trump presidency. U.S. CEO's are rewarding the incoming administration with a flurry of announcements promising new jobs, bigger inventories and a reduction of operations moving to Mexico and abroad. Some...
  • Larry Elder: Trump 'Disrespects' The Intel Community? What About Obama's Iraq Bug-Out?

    01/20/2017 5:05:31 AM PST · by expat_panama · 12 replies
    Investors Business Daily ^ | Jan. 19, 2017 5:00 AM ET | LARRY ELDER
    President Obama and his team still engage in a hissy fit over Donald Trump's questioning Obama's place of birth... 2000, a number of disgruntled Democrats referred to him as "President Select." Now President-elect Trump is being hammered over his refusal to except the intelligence community's consensus about Russia's alleged role in the election. All of the intel agencies maintain that the Russian government attempted to influence our election, and that Russia preferred Trump over Hillary Clinton. From the outset, Trump doubted both the argument that Russia hacked the Democratic National Committee and that the release of damaging emails was...
  • Donald Trump’s inauguration set to unleash a cascade of stock-market anxiety

    01/20/2017 5:05:27 AM PST · by expat_panama · 22 replies
    Market Watch ^ | Jan 20, 2017 7:27 a.m. ET | Mark DeCambre
    The day of reckoning for the Wall Street is nearly here. Donald Trump is set to be sworn in as leader of the free world and the level of consternation in the market is palpable. That is not to say that equities won’t continue to carve out fresh records, spurred by animal spirits; or that Trump’s promise to “make America great again” won’t come to fruition, leading to halcyon days for investors from the lowest sociopolitical rung to the deepest-pocketed 1%... ...“I’m dying to look back at this and like the outcome,” Blankfein said on Wednesday during an interview on...
  • The Myth of the Stagnating Middle Class

    01/19/2017 6:00:52 AM PST · by expat_panama · 48 replies
    National Review ^ | January 18, 2017 4:00 AM | Ben Shapiro
    The American middle class is disappearing. We hear it from everybody. Senator Bernie Sanders (D., Vt.) focused throughout his campaign on what he termed the “disappearing middle class” — disappearing, Sanders said, thanks to income inequality. Sanders explained, “If you have seen a massive transfer of wealth from the middle class to the top one-tenth of 1 percent, you know what, we’ve got to transfer that back if we’re going to have a vibrant middle class.” From the other side, Donald Trump has echoed the same message: “The American worker is being crushed. . . . The great American middle...
  • Number Getting Unemployment Checks Lowest In At Least 30 Years In Michigan

    01/19/2017 5:05:40 AM PST · by MichCapCon · 21 replies
    Michigan Capitol Confidential ^ | 1/15/2017 | Tom Gantert
    The number of people receiving unemployment checks in Michigan reached at least a 30-year low this past October. In the week of Oct. 8, 2016, there were 39,395 people receiving unemployment insurance. That’s the lowest number since 1987, the earliest year for which online records are available. By comparison, during the Great Recession, 186,801 people in Michigan received an unemployment check during the week of Oct. 10, 2009. The highest number of people receiving unemployment benefits since 1987, however, occurred the week of Jan. 24, 2009, at 363,212. “Just confirmation that the economy of the state is doing very well,”...
  • Let's Correct A Very Big Wrong In 2010 Financial Reform

    01/19/2017 2:44:21 AM PST · by expat_panama · 1 replies
    Investors Business Daily ^ | JAN 18, 2017 5:44 PM ET | ROBERT J. SAMUELSON
    <p>Tax "reform," starting with taxes on business, seems to be on everyone's agenda, and it may be a place where the incoming Trump administration and its Democratic critics find common ground. But it's still going to be a slog, and one reason is so-called "pass-through" businesses whose taxes are levied at personal income tax rates.</p>
  • The Illusions Driving Up US Asset Prices

    01/19/2017 2:40:49 AM PST · by expat_panama · 5 replies
    project-syndicate ^ | JAN 18, 2017 | Robert J. Shiller
    NEW HAVEN – Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict. In the United States, two illusions have been important recently in financial markets. One is the carefully nurtured perception that President-elect Donald Trump is a business genius who can apply his deal-making skills to make America great again. The other is a naturally occurring illusion: the proximity of Dow 20,000. The Dow Jones Industrial Average has been above 19,000 since November, and countless news...
  • America's growth outlook depends on which President Trump we get

    01/19/2017 2:39:41 AM PST · by expat_panama · 7 replies
    Yahoo Finance ^ | January 18, 2017 | Alexis Christoforous
    Donald Trump hasn’t moved into the White House yet, but the president-elect is already influencing the outlook for global economic growth. This week, the International Monetary Fund raised its US economic growth forecast by half a percent for 2017 and 2018, as a result of Trump’s planned tax cuts, infrastructure spending and regulatory reform. The IMF now expects the US economy to grow 2.3% this year and 2.5% next year. But Paul Sheard, chief economist at S&P Global, says the outlook for economic growth is largely dependent on which Donald Trump we get in the White House. Sheard believes there...
  • Janet L. Yellen The Goals of Monetary Policy [Economy Near Goals, Warranting Gradual Rate Hikes]

    01/19/2017 2:38:14 AM PST · by expat_panama · 17 replies
    Federal Reserve ^ | January 18, 2017 | Janet L. Yellen
    Good afternoon. It is a pleasure to join all of you at the Commonwealth Club today, not the least because the club and the Federal Reserve have a few things in common. Both organizations, as it happens, have a board of governors and a chair. And both the club's and the Fed's histories extend back more than a century. The club, as many here know, was founded in 1903, and the Federal Reserve a decade later. Perhaps because of our shared origins in the Progressive Era, a period of reform in American life, we hold certain values in common. According...
  • Tech Mahindra to hire more local people in US, says CEO CP Gurnani (India on the Trump train?)

    01/18/2017 3:54:30 PM PST · by 2ndDivisionVet · 6 replies
    The Financial Express ^ | January 18, 2017 | Staff
    Tech Mahindra will continue to invest in hiring more and more local people in the US as part of its efforts to augment competitiveness across locations, CEO CP Gurnani told a TV news channel on Wednesday. “Tech Mahindra is very conscious that not only the US, but the world is about localisation now,” Gurnani said in an interview to ET Now on the sidelines of the ongoing World Economic Forum in Davos. “Local skills have to be upgraded so that the products continue to be getting delivered,” he said. He was responding to queries on concerns about the US President-elect...
  • Roundheads Against King Corn: Why the Renewable Fuel Standard Deserves To Die

    01/18/2017 5:20:24 AM PST · by expat_panama · 37 replies
    Investors Business Daily ^ | Jan. 17, 2017 4:35 PM ET | TIMOTHY BENSON
    On the day before Thanksgiving, the Environmental Protection Agency (EPA) announced the final levels of renewable fuel required to be blended into gasoline next year, officially known as the Renewable Fuel Standard (RFS). In 2017, the RFS will rise to 19.28 billion gallons, up from 18.11 billion gallons in 2016. A part of the Energy Policy Act of 2005, which was expanded in 2007 by the Energy Independence and Security Act and is administered by EPA, RFS requires 36 billion gallons of renewable fuel sources, such as ethanol, be blended into gasoline and diesel fuel by 2022. Two reports released...
  • No, Mr. President-Elect, the Dollar Is Not 'Too Strong'

    01/18/2017 5:19:10 AM PST · by expat_panama · 132 replies
    Real Clear Markets ^ | January 18, 2017 | John Tamny
    Imagine a short person spending his days cursing the “strong” inch for it “robbing” him of impressive height? Better yet, please contemplate a compulsive eater who blames his substantial weight on a pound that is too “weak.” Wise minds would mock the unhinged individuals who would rage at the foot ruler, inch, pound, and scale for revealing reality. Such people would logically be the object of our ridicule and scorn, or maybe just pity. Scales, rulers, inches and pounds are measures. Nothing else. They don’t weaken or strengthen us. They just are. What’s important about them is that if the...
  • Will TrumpCare Be Worse Than ObamaCare?

    01/18/2017 5:18:07 AM PST · by expat_panama · 52 replies
    Investors Business Daily ^ | 1/17/2017 | Editorial
    Health Reform: Over the weekend, Donald Trump said he's nearly finished with an ObamaCare replacement plan. Based on the sketchy outline he provided, Trump's vision of health care reform is troubling. In a phone interview with the Washington Post on Saturday, Trump said the replacement plan is "very much formulated down to the final strokes." No problem there. Trump has the right political instincts about how to get rid of ObamaCare. Rather than repeal a portion of it through the reconciliation process — as Republican congressional leaders propose — then delay even that until a replacement plan gets hammered out,...
  • Copyright Vultures Are At It Again!

    01/18/2017 5:16:53 AM PST · by expat_panama · 36 replies
    American Thinker ^ | January 18, 2017 | Mike Konrad
    The Copyright Industry, especially the RIAA (Recording Industry Association of America), and MPAA (Motion Picture Association of America) have suppressed every form of innovation, and technology to protect their questionable rights. In the 80s, they sued to stop video recorders, but were thankfully held back by the Supreme Court in the famous Betamax case. The Media Industry forced manufacturers of blank cassettes, tapes, and CDs to pay a royalty... ...1998, the RIAA sued to stop the first portable Mp3 player, Diamond Rio, from being sold. In 1999, they took down Napster... ...In 2014, the RIAA considered suing Google for even...
  • The Washington Post Takes Anti-Trump Bias To A New Level

    01/18/2017 5:14:16 AM PST · by expat_panama · 6 replies
    Investors Business Daily ^ | Jan. 17, 2017 3:31 PM ET | JOHN MERLINE
    The mainstream press loves to tell readers that it can be trusted because it employs professional journalists backed by layers of editors. Oh, and they're all unbiased. So how to explain a recent Washington Post headline, which manages both to misrepresent its own poll and expose the ridiculous extent to which its reporters and editors will go to bash President-elect Donald Trump? The story is about a Washington Post/ABC News poll that asks, among other things, whether Trump should sell his business to avoid any possible conflicts of interest while president. Trump has taken steps to avoid these conflicts, although...
  • Hyundai to invest $3.1 billion in U.S. plants (Including new plant, "thousands" of jobs)

    01/17/2017 2:01:24 PM PST · by 2ndDivisionVet · 37 replies
    Market Watch ^ | January 17, 2017 | In-Soo Nam
    SEOUL--Hyundai Motor Co. (005380.SE) said Tuesday it will invest as much as $3.1 billion in its existing U.S. manufacturing facilities, and is considering a new plant in the world's most profitable auto market that would help to create thousands of new jobs. The South Korean automotive group, which includes affiliate Kia Motors Corp., said it will spend the money over the next five years on research and development of new technologies such as autonomous vehicles and on upgrading existing facilities. "The U.S. market is crucial to our success as a global auto maker. We will continue to expand our presence...
  • Wal-Mart to add about 10,000 retail jobs in the US

    01/17/2017 1:43:34 PM PST · by 2ndDivisionVet · 9 replies
    CNBC ^ | January 17, 2017 | The Associated Press
    Wal-Mart plans to add about 10,000 retail jobs in the U.S. as it opens new stores and expands existing locations. The world's biggest retailer said Tuesday that there will also be about 24,000 construction jobs as well. Wal-Mart Stores says there will be 59 new, expanded and relocated Walmart and Sam's Clubs facilities....
  • Economic Prosperity in the Digital Age

    01/17/2017 12:30:54 PM PST · by 2ndDivisionVet · 5 replies
    Project Syndicate ^ | January 16, 2017 | John Chambers, Executive Chairman of Cisco
    SAN JOSE – Around the world, people are demanding change. Recent electoral outcomes – perhaps most notably, the Brexit vote in the United Kingdom and the presidential election in the United States – have highlighted rising economic uncertainty. In this environment, it is imperative that leaders articulate and deliver on a clear vision for inclusive economic growth, one that accounts not only for tax and trade policy – the focus of many of today’s debates – but also for digitization. Representing $19 trillion in potential economic value over the next decade, digitization has the power to enable countries to kick-start...
  • President-elect Trump raised the specter of a trade war... ...what he likely will

    01/17/2017 4:38:38 AM PST · by expat_panama · 2 replies ^ | Jan. 17, 2017 | JED GRAHAM
    Donald Trump won the Rust Belt and White House with help from his threats to slap tariffs on Chinese imports and goods shipped across the border from Mexico. Whether he’d make good on those threats became almost an after thought as his promised tax cuts, infrastructure spending and deregulation drove stocks higher after the election. But with the president-elect taking to the bully pulpit—like his Twitter posts threatening a “border tax” onToyota andGeneral Motors—the questions are bubbling to the surface, especially as his Jan. 20inauguration nears. What kind of protectionist measures can he get away with, for good or bad?......
  • President Obama's (Tentative) Economic Legacy

    01/17/2017 4:35:42 AM PST · by expat_panama · 15 replies
    Real Clear Markets ^ | January 17, 2017 | Robert Samuelson
    It is far too early to render final judgment on the Obama presidency. All the chatter about his "legacy" overlooks two obvious realities. The significance of Obama will depend heavily on events that have not yet happened (for starters, the fate of the Iranian nuclear deal) and comparisons, for better or worse, with his successor. Still, it's possible to make some tentative observations. As I've written before, the administration's greatest achievement was, in its first year, stabilizing a collapsing economy and arguably avoiding a second Great Depression. Even now, only eight years after the event, many people forget the crash's...
  • Republican Tax Strategists Desperately Try To Put The Democrats Back In Control

    01/17/2017 4:34:53 AM PST · by expat_panama · 69 replies
    Forbes ^ | Jan 15, 2017 @ 09:00 AM | John Tamny
    With their Party having won control of all three branches of the federal government in the recent election, Republican tax experts are seemingly desperate to help the GOP give back its gains. Evidence supporting this claim is the growing support among Republican tax scholars (and apparently legislators too) in favor of what they describe as a “border adjustable tax system.” They don’t call the Republican Party the “stupid party” for nothing. The new revenue stream popular among certain members of the Republican commentariat calls for reducing the corporate tax in favor of a value-added tax (VAT) placed on goods made...
  • Mirror, Mirror, on the Wall, Which Is the Biggest Moocher State of All?

    01/17/2017 4:32:40 AM PST · by expat_panama · 35 replies
    world press ^ | January 14, 2017 | Dan Mitchell
    Which state gets the biggest share of its budget from the federal government? Is it California, the left’s bizarre alternative universe?Is it Illinois, the poster child for big-government excess? Nope, not even close. As a matter of fact, those two jurisdictions are among the 10-least dependent states.And if you’re guessing that the answer is New York, New Jersey, Maryland, Connecticut, or some other “blue state,” that would be wrong as well.Instead, if you check out this map from the Tax Foundation, the answer is Mississippi, followed by Louisiana, Tennessee, Montana, and Kentucky. All of which are red states! So does...
  • Taxpayers Off The Hook With Trump's Infrastructure Plan (750,000 new jobs)

    01/16/2017 4:27:03 PM PST · by 2ndDivisionVet · 24 replies
    Fox Business News ^ | January 16, 2017 | Julia Limitone
    Private enterprise is lining up to help pay for the nation’s crippling infrastructure. Norman Anderson, informal advisor to the Trump “Infrastructure Task Force,” says there are 68 infrastructure projects ready to go under president-elect Trump and taxpayers will not have to pay for it. “Forty billion dollar’s-worth of electricity transmission projects [are] ready to go as soon as we can move through the approval process,” Anderson told the FOX Business Networks Stuart Varney. However, regulatory hurdles must be addressed he said....
  • Save-A-Lot Carves Niche Serving Communities That Publix And Others Overlook

    01/16/2017 5:17:34 AM PST · by Iron Munro · 69 replies
    Tampa Bay Times ^ | Jan 16, 2017 | Justine Griffin
    Betty Duffey has a half-dozen several grocery stores vying for her business near her neighborhood in southern Pinellas County. Publix Supermarkets is 2.5 miles down the road and she'll pass by a Winn-Dixie and a Walmart Neighborhood Market on the way there. Two miles in the other direction is an Aldi and a Walmart Supercenter. But Duffey, 63, does most of her grocery shopping at Save-A-Lot. It's the closest grocery store to her house, but it's also the cheapest. "I'm on disability and really have to watch how I spend my money," Duffey said. "At Publix, I'd spend $200 a...
  • John Lewis, Donald Trump Is The Legitimate President Of The United States

    01/15/2017 10:03:58 PM PST · by 2ndDivisionVet · 21 replies
    The Post News Group ^ | January 15, 2017 | Zennie Abraham
    John Lewis, the famed Democratic Georgia Representative and civil rights leader, said that President-Elect Donald Trump is not a legitimate President. As much as I would like to reverse the clock and change the outcome of the election, everytime I think about that, I am reminded in my memory of how we, Democrats, failed to really come together under one unifying message.A lot of us were ignored by those in the DNC who achieved power-positions. Even long-time credentialed bloggers like me (Zennie Abraham,, Zennie62 on YouTube) were ignored by the Clinton-controlled DNC brass, and left out of covering the...
  • Davos elites struggle for answers as Trump era dawns

    01/15/2017 5:42:43 PM PST · by greeneyes · 25 replies
    Reuters ^ | Jan 1, 2017 | Noah Barkin
    DAVOS, Switzerland - The global economy is in better shape than it's been in years. Stock markets are booming, oil prices are on the rise again and the risks of a rapid economic slowdown in China, a major source of concern a year ago, have eased. And yet, as political leaders, CEOs and top bankers make their annual trek up the Swiss Alps to the World Economic Forum in Davos, the mood is anything but celebratory.
  • Latinos set to toast tequila to Trump

    01/14/2017 9:31:48 PM PST · by 2ndDivisionVet · 8 replies
    The Hill ^ | January 13, 2017 | Hector Barreto
    Next week, a group of patriots, who happen to be Hispanic, will gather to celebrate the inauguration of President-elect Donald J. Trump. It will be the kind of moment that runs counter to the narratives of the political and the media elite, but to those of us in the room, our celebration makes perfect sense. If news of our inauguration party surprises you, recall that 29 percent of the Hispanic vote went to Trump. Remember, too, that Latinos are feeling the sharp pain of economic adversity that Trump has convincingly promised to change. Remember also that one of the great...
  • APNewsBreak: Ringling Bros. circus to close after 146 years

    01/14/2017 7:44:36 PM PST · by Hillarys Gate Cult · 121 replies
    AP ^ | 14 Jan 2017 | AP
    Posting limits due to source.
  • Mad As HELL!

    01/14/2017 4:06:38 PM PST · by vannrox · 20 replies
    Bloomberg Publications' Articles and Graphs via Chris Martenson via via Zerohedge ^ | 15JAN17 | Bloomberg Publications' Article and Graphs via Chris Martenson via via Tyler Durd
    Submitted by Chris Martenson via, Fair warning, my family just received a 61.5% increase in our healthcare insurance premium of 2017, on top of last year’s 24.8% increase, so I am quite annoyed at the moment.  For my non-US readers, perhaps what follows will interest you as a means of understanding how and why Donald Trump came to be elected President.  I am going to be channeling some of my inner crank today. If you want to understand why Trump won the recent US presidential election, you can't overlook the economic data.  If you do, his victory may...
  • Trump Urges People To 'Buy L.L.Bean' Amid Boycott Threat

    01/14/2017 12:16:53 PM PST · by SkyPilot · 60 replies
    NPR ^ | 12 Jan 17 | Yuki Noguchi
    President-elect Donald Trump took to Twitter again Thursday morning, this time to urge his followers to "Buy L.L.Bean," and support one of his campaign backers. "Thank you to Linda Bean of L.L.Bean for your great support and courage," he tweeted Thursday. "People will support you even more now. Buy L.L.Bean." The tweet came in response to public attention over Linda Bean's political support for Trump. Bean, a board member and co-owner of the family-owned outdoor retailer and the granddaughter of company founder Leon Leonwood Bean, says she gave money to a PAC supporting Trump. The Associated Press reported that...
  • Trump will use 4 real estate business tricks to rebuild the US

    01/14/2017 11:39:17 AM PST · by 2ndDivisionVet · 42 replies
    CNBC ^ | January 14, 2017 | Jay N. Rollins
    On January 20, 2016, the country is sending a businessman to Washington in one of the riskiest bets in history. Donald Trump appears to be intent on running the country like a business enterprise. But Trump is not just a business man. He is a real estate developer, an important distinction, as it impacts how he will think about revitalizing an economy that has struggled to maintain significant growth. Trump promises to cut both corporate and individual taxes while investing up to $1 trillion on the country's infrastructure. By simultaneously decreasing the country's revenue and increasing its expenses, Trump would...
  • Company re-starting U.S.Steel in Pennsylvania !

    01/14/2017 10:48:51 AM PST · by knarf · 106 replies
    Pittsburgh Post Gazette ^ | January 12, 2017 | Lee Boselevic
    Dura-Bond Industries has purchased equipment from U.S. Steel’s idled McKeesport plant and hopes to begin producing tubular products primarily for the energy industry within six to nine months, the president of the Export-based company said Thursday.
  • Pelosi blames Bush for $9 trillion in debt added under Obama

    01/13/2017 6:33:04 PM PST · by Beave Meister · 42 replies
    The Washington Examiner ^ | 1/13/2017 | AL WEAVER
    House Minority Leader Nancy Pelosi blamed former President George W. Bush and the Republicans on Friday for the more than $9 trillion that has been added to the national debt under President Obama's watch. Pelosi argued that under Obama, the annual budget deficit, which contributes to the national debt, has been reduced dramatically, and said that without Obama's work, the national debt would be even higher. She also mostly blamed Bush for not paying for the wars in Afghanistan and Iraq. "When President Obama stood on the steps on the Capitol eight years from next week, the [budget] deficit was...
  • Visualizing Donald Trump's $20 Trillion Problem

    01/13/2017 7:07:33 AM PST · by Perseverando · 26 replies ^ | January 13, 2017 | Tyler Durden
    Only a few days after Trump’s inauguration ceremony, the U.S. National Debt will creep across the important psychological barrier of $20 trillion. It’s a problem that’s been passed down to him, but, as Visual Caitalist's Jeff Desjardins notes, it certainly puts the incoming administration in a difficult place. The debt is burdensome by pretty much any metric, and the rate of borrowing has exceeded economic growth pretty much since the late 1970s. How Trump deals with this escalating constraint will be a deciding factor in whether his administration crashes and burns – or ends up re-positioning America for greatness. Donald...
  • Will stocks sell off after Trump takes the oath? Here’s what history shows

    01/13/2017 3:46:51 AM PST · by expat_panama · 31 replies
    Market Watch ^ | Jan 12, 2017 3:27 p.m. ET | William Watts
    There’s a chorus calling for stocks to sell off on or around Donald Trump’s presidential inauguration on Jan. 20. What does history show? Ryan Detrick, LPL Financial’s senior market strategist and historical number wrangler, found that there is a tendency for equities to weaken once the oath of office has been administered—but it’s often delayed a few weeks. The logic behind the calls for stocks to weaken after the swearing-in ceremony centers on the old market adage: “buy the rumor, sell the news.” The argument is that the market rally that has followed Trump’s Nov. 8 election victory has factored...
  • Here's Why 2017 Could Be The Best Year In Wall Street History

    01/13/2017 3:46:44 AM PST · by expat_panama · 10 replies
    Forbes ^ | Jan 12, 2017 | Antoine Gara
    Bank stocks have surged nearly 30% since Election Day as investors position for a mix of higher interest rates, stronger growth, and a rollback of some crisis-era regulations under President-elect Donald Trump. These expectations are now being priced into the shares of Goldman Sachs and JPMorgan, which sit at record highs, as well as recovering firms such as Morgan Stanley and Bank of America. Goldman Sachs is up 35% since Election Day, as is BofA. Morgan Stanley has surged 28% and JPMorgan has gained 25%. All of these stocks have been fueled by a move in the 10-year U.S. Treasury...
  • Is The U.S. Government Insolvent? Sorry, But Its Accountant Can't Tell You

    01/13/2017 3:46:30 AM PST · by expat_panama · 11 replies
    Investors Business Daily ^ | Jan. 12, 2017 7:12 PM ET | Editorial
    ...What do you call it when a major organization's financial statements are so deceptive and badly kept that even its auditor refuses to render an opinion? Answer: The federal government. That's right, the U.S. Government Accountability Office (GAO), the federal government's accountant, refused to hand down an opinion of the federal government's financial statements for 2016 "due to deficiencies that have plagued prior financial statements — persistent financial management problems at the Department of Defense (DOD), the government's inability to account for and reconcile certain transactions, an ineffective process for preparing the consolidated financial statements, and significant uncertainties." No question...
  • Beleaguered Small Businesses Set For Big Rebound Under Trump

    01/13/2017 3:46:27 AM PST · by expat_panama · 1 replies
    Investors Business Daily ^ | 1/11/2017 | TERRY JONES
    Small businesses and entrepreneurs have had a rough time of it for these past eight years. New startups and entrepreneurial activity have pretty much been stagnant, weighed down by heavy regulation, high taxes and an economy that's just been stumbling along. But in recent weeks, there are signs of renewal that could mark a turnaround in the fortunes of small business. Most impressively, the National Federation of Independent Business' small-business optimism index surged in December by the most since 1980, a year when another maverick conservative-leaning candidate surprised everyone and won the presidency. His name was Reagan. "The December results...
  • Busting 5 Big Myths About ObamaCare Repeal

    01/13/2017 3:46:20 AM PST · by expat_panama · 3 replies
    Investors Business Daily ^ | Jan. 12, 2017 4:21 PM ET | Editorial
    Health Reform: Democrats are predicting doom and gloom if Republicans make good on their ObamaCare repeal plans. Aren't these the same Democrats who promised that ObamaCare would be a huge success? Early Thursday morning, the Senate voted 51-48 for a budget resolution that marks the first step toward the repeal of ObamaCare. Democrats say repealing ObamaCare will strip millions of Americans of insurance, leave people with pre-existing medical conditions unable to find coverage, increase the budget deficit, and be a political nightmare for Republicans... ...Republicans plan a transition away from ObamaCare to reforms that will make insurance more competitive and...
  • Foxconn-Sharp considering LCD plant in US

    01/12/2017 7:51:21 PM PST · by 2ndDivisionVet · 26 replies
    Nikkei Asia Review ^ | January 13, 2017 | Jun Iiyama, Nikkei staff writer
    OSAKA -- Hon Hai Precision Industry and its Japanese subsidiary Sharp have begun studying the possibility of building a liquid crystal display panel plant in the U.S., a Sharp executive said Friday. The plan is "on the table," the executive said. "We will make a decision carefully." The Taiwanese electronics contract manufacturer, also known as Foxconn, and its Japanese alliance partner SoftBank Group reportedly told Donald Trump they would jointly make significant investments creating new jobs in the U.S. when SoftBank Chairman Masayoshi Son met the President-elect in New York last month. The joint investment plan was proposed by Son,...
  • Germany posts 6.2 billion euro budget surplus in 2016 - sources

    01/12/2017 12:31:29 PM PST · by Berlin_Freeper · 36 replies ^ | Jan 12, 2017 | reuters
    Germany's federal government posted a budget surplus of 6.2 billion euros ($6.60 billion) last year, helped by a strong economy and low borrowing costs, senior government sources said on Thursday, adding they wanted to use the windfall to amortize debt. It is the third consecutive year Europe's biggest economy has not needed net new borrowing. The 2015 federal surplus was 12.1 billion euros, said the sources. "We want to suggest to the lower house of parliament that this money is used for amortizing debt," said one senior government source.
  • Erdogan: 'Turkey Is Attacked by Terrorists Using Foreign Exchange Rates to Harm the Country!'

    01/12/2017 8:51:09 AM PST · by Michael van der Galien · 11 replies
    PJ Media ^ | 01-12-2017 | Michael van der Galien
    Turkish president Recep Tayyip Erdogan sees the Turkish lira collapsing before his eyes. So what does he do? That's right: the same thing he always does. Blames others (unnamed "terrorists") for his problems: [EMBEDDED TWEET] "Everyone already sees and knows the attacks that Turkey has been subjected to also have an economic aspect. There is no difference between a terrorist who has a weapon or bomb in his hand and a terrorist who has dollars, euros and interest in terms of aim," Erdogan said. Of course it's not clear which terrorists with dollars and euros he's referring to, but apparently,...
  • Beware of the ‘Trump dump’ in stocks as rally peters out

    01/12/2017 2:36:41 AM PST · by expat_panama · 29 replies
    Market Watch ^ | Jan 11, 2017 12:53 p.m. ET | Thomas H. Kee Jr.
    Part of Donald Trump’s fiscal policy targets mainstream America, not asset classes such as the stock market, bond market and real estate as monetary stimulus does. The stock market has rallied since the presidential election on expectations fiscal-stimulus policies proposed by Donald Trump will benefit the economy. That might be justified, but that doesn’t mean the stock market can continue to rally in the short run. Longer-term positive influences from fiscal-policy improvements, instead of monetary-policy stimulus, are clear. Still, those positives won’t be immediate. Part of Trump’s fiscal policy targets mainstream America, not asset classes such as the stock market,...
  • The Incredible Shrinking Stock Market

    01/12/2017 2:36:34 AM PST · by expat_panama · 5 replies
    investopedia ^ | January 11, 2017 — 11:30 AM EST | Mark Kolakowski
    Even as the American economy grows, many average investors are losing opportunities to own a piece of it. The number of public companies plunged by 37% to 5,734 as of June 2016 from a peak of 9,113 in 1997, according to the Center for Securities Research at the University of Chicago, as reported in the Wall Street Journal. In fact, today the U.S. has roughly as many public companies as in 1982, yet real gross domestic product (GDP) is about 2.6 times greater, according to the Federal Reserve Bank of St. Louis. Partly due to mergers, the size of the...
  • Punishing Theft Does Not Violate Free Trade

    01/12/2017 2:36:27 AM PST · by expat_panama · 4 replies
    economics21 ^ | January 10, 2017 | Diana Furchtgott-Roth
    Many assert that President-elect Donald Trump is against free trade. But standing against the theft of intellectual property and old-fashioned mercantilism, as Trump has promised to do, is an appropriate role for the chief executive. Allowing other countries to cheat us is not free trade. America consistently outperforms the rest of the world in the sphere of intellectual property. People throughout the world identify with American art, music, software, and clothing designs, and benefit from American pharmaceuticals and patents. Yet American intellectual property is routinely stolen. Each year, the United States Trade Representative publishes a report entitled “Special 301 Report”...