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Keyword: economy

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  • Trump's China tariffs aren't crazy

    03/22/2018 11:29:48 AM PDT · by SoFloFreeper · 7 replies
    3/22/18 | R Newman
    ....Most trade experts see little economic justification for those tariffs, and a bevy of loopholes Trump included.... Trump is on firmer ground with his plan to impose tariffs on $50 billion worth of Chinese imports. “The goal is to get China to treat U.S. companies in China the way we treat Chinese companies in our market,” a senior Trump administration official told reporters on March 22. A forthcoming government report, he said, “clearly demonstrates there are unfair practices by China as it relates to their efforts to acquire US technology and to favor their companies over US companies.” Unlike the...
  • For warmth, some households still burn coal ( Durango, Colorado )

    03/20/2018 5:28:25 PM PDT · by george76 · 63 replies
    Durango Herald ^ | March 10, 2018 | Jonathan Romeo
    Rural residents turn to cheap heating fuel ... Monte Miller shovels a load of coal into a bucket and makes the short journey from his storage shed to his home on the edge of Bayfield, joking aloud that his wife likes to keep the temperature at a steady 75 degrees. “But we don’t have any problem doing that with coal,” Miller and his wife, Marsha, have been using coal as their main source of fuel since they moved to their home in 2000. Each year, the couple uses about 2 tons of coal to keep their 2,500-square-foot house warm throughout...
  • Tech stocks are flashing a warning sign similar to before the dot-com bubble popped

    03/19/2018 4:22:37 PM PDT · by SkyPilot · 24 replies
    CNBC ^ | 19 Mar 18 | Jeff Cox
    • Price performance difference between tech and utilities has spread lately to a level nearly as wide as when the dotcom bubble burst. • "The obsession with dot-com stocks in the late-1990s has been replaced today by a fascination with FANG stocks," said Jim Paulsen, chief investment strategist at the Leuthold Group. Price performance between the two sectors has spread lately to a gap not quite as wide as during the bubble, but close. Using a measure called the "Popular/Panned Ratio", Jim Paulsen, chief investment strategist at the Leuthold Group, sees danger signs growing for the bull market that began...
  • Will: Infrastructure spending won’t transform America

    03/16/2018 1:02:00 PM PDT · by Tolerance Sucks Rocks · 50 replies
    The San Jose Mercury News ^ | February 16, 2018 | George F. Will
    “MASON CITY: To get there you follow Highway 58, going northeast out of the city, and it is a good highway and new.” — Robert Penn Warren, “All the King’s Men” (1946) WASHINGTON — Appropriately, Warren began the best book about American populism, his novel based on Huey Long’s Louisiana career, with a rolling sentence about a road. Time was, infrastructure — roads, especially — was a preoccupation of populists, who were mostly rural and needed roads to get products to market, and for travel to neighbors and towns, which assuaged loneliness. Today, there is no comparably sympathetic constituency clamoring...
  • All that optimism for hot first-quarter economic growth is rapidly fading away

    03/14/2018 1:06:52 PM PDT · by SoFloFreeper · 16 replies
    cnbc ^ | 3/14/18 | Jeff Cox
    Back in late January the Atlanta Fed was calling for a 5.4 percent GDP gain, but on Wednesday it said growth likely will be just 1.9 percent.
  • Kudlow to become Trump's next top economic adviser

    03/14/2018 1:04:38 PM PDT · by Innovative · 28 replies
    CNN ^ | March 14, 2018 | Kevin Liptak and Dan Merica
    President Donald Trump will name Larry Kudlow, the conservative media analyst who served as his informal economic adviser during the 2016 campaign, as the next head of the White House National Economic Council, two sources familiar with the decision tell CNN. Trump offered Kudlow the job Tuesday night over the phone and he accepted, the source said. The move makes Kudlow Trump's second top economic adviser after Gary Cohn, a former Goldman Sachs executive who worked for Trump for over a year, announced his resignation earlier this month over internal disagreements around the President's decision to impose tariffs on steel...
  • Jobs Growth ‘Explodes:’ ABC, NBC Give It Just 39 Seconds Combined

    03/12/2018 6:12:41 PM PDT · by Kaslin · 21 replies ^ | March 12, 2018 | Julia Seymor
    February job gains came in at a whopping 313,000 new jobs, so much that NBC Nightly News anchor Lester Holt acknowledged it “blows away economists’ expectations.” The Wall Street Journal said expectations were at only 205,000. Unemployment also remained at the 17-year-low of 4.1 percent. But only one network gave the good news any serious attention. February job gains came in at a whopping 313,000 new jobs, so much that NBC Nightly News anchor Lester Holt acknowledged it “blows away economists’ expectations.” The Wall Street Journal said expectations were at only 205,000. Unemployment also remained at the 17-year-low of 4.1...
  • COMMENTARY: The “Trump Miracle” continues to stoke the U.S. economy

    03/11/2018 12:19:40 PM PDT · by bitt · 24 replies
    review journal ^ | 3/11/2018 | Wayne Allyn Root
    I’m the guy who predicted a Trump victory against all odds in the 2016 election. I also predicted a “Trump Miracle” for the economy. Here’s my new prediction: President Trump guaranteed his re-election last week. Liberals must be sick to their stomachs. No matter what they do or say, no matter how hard they try to distract us from the booming economy, the “Trump Miracle” shines through. I was going to write about the Trump administration’s war with California, illegal immigration and liberal politicians serving as “lookouts” for illegal felons. This move is cheered by middle-class Americans sick of being...
  • Nancy Pelosi Backtracks on ‘Crumbs’ Tax Reform Comment: ‘We Are Thankful Whenever Workers...'

    03/09/2018 10:17:43 PM PST · by Libloather · 25 replies
    Breitbart ^ | 3/09/18 | Sean Moran
    Nancy Pelosi Backtracks on ‘Crumbs’ Tax Reform Comment: ‘We Are Thankful Whenever Workers Get Bonuses’ House Minority Leader Nancy Pelosi (D-CA) backtracked on her “crumbs” comment about tax reform, admitting that “we are thankful whenever workers get bonuses.” Pelosi admitted in a tweet on Thursday, “Certainly we are thankful whenever workers get bonuses. But it is incredibly telling that companies by-and-large chose to give out one-time bonuses, and not long-term raises.” Pelosi’s backtrack is a stark contrast to comments she made in February where she called the Tax Cuts and Jobs Act “unpatriotic” at a town hall in Arizona.
  • North Korea is sitting on a stockpile of minerals worth trillions

    03/09/2018 8:40:41 PM PST · by doug from upland · 39 replies
    business insider dot com ^ | orig June 2017 | Chris Weller
    Embedded deep beneath the country's mountainous zones are some 200 varieties of minerals, including gold, iron, copper, zinc, magnesite, limestone, tungsten, and graphite, Quartz reports. Some of these stockpiles are among the largest in the world, and North Korea, a tiny and cash-strapped nation, frequently uses them to bring in additional revenue — no matter the laws against doing so. The total value of these minerals lies somewhere between $6 trillion and $10 trillion. But the country is too poor to create the infrastructure needed to export the minerals — at least in large enough quantities to make a dent...
  • The Epic Trump Economic Turnaround

    03/09/2018 4:47:25 PM PST · by Kaslin · 18 replies
    Rush ^ | March 9, 2018 | Rush Limbaugh
    RUSH: Let’s start with some economic news, ladies and gentlemen: “U.S. Employers Added 313,000 Jobs in February.” The expectations were 200,000. That’s the number the so-called experts were forecasting. This blows past that. “Construction, manufacturing, business services drove the gains.” Construction (we’re building new stuff), manufacturing. Jobs Obama said would not be coming back, jobs Obama… During the campaign when Trump was talking about reviving the manufacturing sector, Obama’s out there making fun of it and mocking it by saying (impression), “What’s he gonna do, wave a magic wand? “Those jobs are gone! Theeeey’re not coming back,” and here they...
  • 4 Bad Arguments for Trump’s New Tariffs

    03/09/2018 11:09:13 AM PST · by Oklahoma · 57 replies
    Reason Magazine ^ | March 6, 2018 | Veronique de Rugy
    Last week, President Trump's announced sweeping tariffs on all steel and aluminum imports into the United States: 25 percent on American buyers of imported steel-mill products and 10 percent on American buyers of imported aluminum-mill products. Trump has favored strong tariffs for years, and some of his most prominent economic advisors are supplying him with arguments in service of his policy. Those arguments are all wrong. Here are the facts about some of the favorite arguments made by protectionists. For the sake of simplification, I will mostly focus on the steel tariffs. Argument 1: Trump's tariffs are necessary because our...
  • Obama’s CIA boss Brennan rips Trump’s ‘ignorance’ and ‘simple minded’ economic policies

    03/07/2018 10:11:12 AM PST · by detective · 87 replies
    The Washington Times ^ | March 7, 2018 | Douglas Ernst
    Former CIA chief John Brennan made a rare appearance on Twitter Wednesday to lash out at President Donald Trump over “ignorance” that threatens U.S. prosperity. The commander in chief’s recent talk of possible steel and aluminum tariffs prompted a social-media jab by Mr. Brennan this week. The post — 1 of 18 total tweets, with the vast majority related to Mr. Trump or the U.S. Russia probe — questioned the president’s economic acumen. “You show an amazing albeit unsurprising ignorance of how technology, automation, and the attendant evolution of economics and societies have transformed the world,” Mr. Brennan, who served...
  • U.S. Steel to Restart Illinois Plant Operations Amid Trump’s Tariff Plans

    03/07/2018 10:53:50 AM PST · by Red Badger · 48 replies ^ | Updated March 7, 2018 11:35 a.m. ET | By Allison Prang and Bob Tita
    The company plans to call back about 500 employees United States Steel Corp. X +4.25% said it would restart a blast furnace in Illinois to handle the higher demand it expects from President Donald Trump’s proposed tariffs on foreign steel. The steelmaker said it also plans to call 500 employees back to work at the Granite City mill. U.S. Steel idled its blast furnaces there two years ago as a flood of cheap imports pushed down domestic steel prices. Steel producers have been hurt in recent years by increasing competition from foreign competitors, particularly China, that have ramped up production...
  • The states where Americans have the best quality of life, ranked (Calif. is ranked last)

    03/04/2018 8:16:54 PM PST · by Enterprise · 56 replies ^ | March 1, 2018 | Mark Abadi
    U.S. News & World report ranked the best states in the US for quality of life. Quality of life includes the quality of the natural environment, like water and air quality, and the quality of the social environment, like community engagement and voter participation. Of every state in the US, North Dakota residents have the highest quality of life.
  • Revised fourth-quarter US GDP up 2.5%, matching expectations

    02/28/2018 9:35:09 AM PST · by SeekAndFind · 16 replies
    CNBC via Reuters ^ | 02/28/2018
    U.S. economic growth slowed slightly more than initially thought in the fourth quarter as the strongest pace of consumer spending in three years drew in imports and depleted inventories. Gross domestic product expanded at a 2.5 percent annual rate in the final three months of 2017, instead of the previously reported 2.6 percent pace, the Commerce Department said in its second GDP estimate on Wednesday. That was a deceleration from the third quarter's brisk 3.2 percent pace. The downward revision to the fourth-quarter GDP growth estimate largely reflected a smaller inventory build than previously reported. It was in line with...
  • The Trump Economy: Is 3% GDP Growth Realistic?

    02/27/2018 8:16:15 AM PST · by SeekAndFind · 16 replies
    IBD ^ | 02/27/2018 | Robert Samuelson
    The role of economic growth in advanced democracies is not mainly the accumulation of more material goods. By any historical norm, even today's poor are staggeringly wealthy.XEconomic growth plays a more subtle role. It gives people a sense that they are getting ahead and are in control of their lives. It serves as the social glue that holds us together and counteracts -- to some extent -- the influences of race, class, religion, ethnicity and geography, which drive us apart.But what if economic growth can no longer perform this vital function? What if the economy has entered a prolonged...
  • New Fed Chairman Jerome Powell to Testify Before Congress on Capitol Hill

    02/27/2018 5:58:10 AM PST · by neverevergiveup · 4 replies
    Wall Street Journal ^ | February 26, 2018 | Nick Timiraos
    Federal Reserve Chairman Jerome Powell heads to Capitol Hill this week for his first public appearance since being sworn in as the central bank’s new leader earlier this month. He starts Tuesday with the release of his prepared testimony at 8:30 a.m., EST followed by his appearance before the House Financial Services Committee starting at 10 a.m.
  • Congress Should Make Relief Permanent

    02/26/2018 11:11:21 AM PST · by Kaslin · 7 replies ^ | February 26, 2018 | Phil Kerpen
    The first year of the Trump administration saw remarkable accomplishments on both tax and regulatory relief, with fundamental tax reform for the first time in decades and the massive regulatory onslaught of the Obama years stopped and reversed. With wages rising and the economy strengthening, the most important priority for Congress in 2018 should be to lock in these historic accomplishments. As it stands now, nearly all of the tax relief for individuals is scheduled to expire in 2025, due to Senate rules that imposed a procedural constraint on the process to avoid a Democratic filibuster. The hope and expectation...
  • Panama Canal Working to Increase LNG Vessel Capacity as Demand Grows

    02/22/2018 7:28:47 PM PST · by Oatka · 6 replies
    gCaptain ^ | Feb. 21, 2018 | gCaptain Staff
    The LNG carrier Oak Spirit transits the Expanded Panama Canal with a cargo LNG loaded from Cheniere’s Sabine Pass terminal. Photo Credit: Teekay Executives from U.S. LNG exporter Cheniere Energy met with representatives from the Panama Canal this week in Panama to discuss the waterway’s growing LNG vessel segment. (Underlines mine.) Since the opening of the Expanded Panama Canal in 2016, LNG has emerged as the fastest-growing segment for the waterway in part due to the United States emergence as a gas supplier to Asia and other global markets. To date, the Canal’s Neopanamax locks have transited more than 280...