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Keyword: economy

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  • ICS ‘Deeply Concerned’ by Canada’s Proposed Tanker Ban in Northern British Columbia Waters

    10/21/2017 10:26:03 AM PDT · by Oatka · 10 replies
    gCaptain ^ | Oct 20, 2017 | gCaptain
    The International Chamber of Shipping (ICS) says it is deeply concerned over proposed legislation that would ban crude oil tankers from operating in Canadian waters off Northern British Columbia. The Canadian Parliament is giving consideration to legislation that would have the effect of establishing a moratorium on the shipment of crude oil in the waters of Northern British Columbia. The proposed legislation is known as Bill C-48: An Act respecting the regulation of vessels that transport crude oil or persistent oil to or from ports or marine installations located along British Columbia’s north coast. The ICS, representing the world’s national...
  • The Dow is telling the most important story about Trump

    10/21/2017 9:05:19 AM PDT · by 2ndDivisionVet · 32 replies
    The New York Post ^ | October 20, 2017 | The Editorial Board
    After crossing the 23,000 line this week, the Dow is up nearly 5,000 points, or about 27 percent, since Election Day. It wouldn’t be there under a President Hillary Clinton or a Jeb Bush. No: Much of the credit has to go to the uncompromisingly pro-business President Trump — the antithesis of what the nation had seen the prior eight years. Nor is it just the stock market: Consumer confidence and economic optimism are up. And the Labor Department reports that claims for unemployment just dropped by 22,000 to 222,000 — the fewest since March 1973. And while, as Charles...
  • China on course to overtake US as dominant global superpower.(BARF Alert)

    10/20/2017 2:13:48 PM PDT · by Ennis85 · 15 replies
    Bloomberg ^ | October 18, 2017 | Noah Smith
    <p>WHAT’S the most powerful country in the world? There’s a good case to be made that it’s China. There are many kinds of power – diplomatic, cultural, military and economic. So an easier question to ask is: What’s the world’s largest economy? Almost certainly China. Many might protest. After all, the US still produces the most when measured at market exchange rates. But this comparison is misleading, because things cost different amounts in different countries. Gross domestic product (GDP) is supposed to measure the amount of real stuff – cars, phones, financial services, back massages, etc – that a country produces. If the same phone costs $400 in the US but only $200 in China, China’s GDP is getting undercounted by 50pc when we measure at market exchange rates. In general, less developed countries have lower prices, which means their GDP gets systematically undercounted.</p>
  • The Trump Economy Is Heating Up and the Drive-Bys Can’t Understand It

    10/19/2017 12:43:29 PM PDT · by Kaslin · 2 replies
    Rush Limbaugh.com ^ | October 19, 2017 | Rush Limbaugh
    RUSH: So we have the Bloomberg story — Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market — and here is a companion story: “NBC Amazed by Stock Surge Despite ‘Chaos in Washington.'” Hey, NBC, you’re not supposed to be “amazed” by it. You’re just supposed to report it. Ah, but they can’t do that, because they are invested in it because NBC is helping to create the chaos. NBC is part of the cabal trying to undermine any of the good that might come out of the Trump administration. NBC Amazed by Stock Surge Despite ‘Chaos in Washington’...
  • Hurricanes Aren't the Only Reason Gas Prices Are High

    10/19/2017 1:13:49 PM PDT · by TBP · 18 replies
    The Foundation for Economic Education (FEE) ^ | October 19, 2017 | Jacob R Borden
    Hurricanes Harvey, Irma, and Nate highlighted the exposure to life and property all along the Gulf Coast. Of the critical national assets that took a hit, the crux of the U.S. refining industry suffered dramatically. As a result of Harvey alone, twenty refineries in the 300 miles between Corpus Christi and Beaumont were forced to shut down or dramatically reduce rates. The spot price of ultra-low sulfur diesel (ULSD) promptly increased by 10%, while that for gasoline and jet fuel increased by 25%. All three prices remain about 10% higher than before the hurricanes, in part due to regulatory constraints...
  • GDP Is Bogus: Here's Why

    10/19/2017 10:36:30 AM PDT · by SeekAndFind · 16 replies
    Of Two Minds ^ | 10/19/2017 | Charles Hugh Smith
    The rot eating away at our society and economy is typically papered over with bogus statistics that "prove" everything's getting better every day in every way. The prime "proof" of rising prosperity is the Gross Domestic Product (GDP), which never fails to loft higher, with the rare excepts being Spots of Bother (recessions) that never last more than a quarter or two. Longtime correspondent Dave P. of Market Daily Briefing recently summarized the key flaw in GDP: GDP doesn't reflect changes in the balance sheet, i.e. debt. So if we borrow money to pay people to dig holes and then fill them with the excavated...
  • Republicans May Use Budget to Open Arctic, Atlantic to Oil Rigs

    10/19/2017 9:45:27 AM PDT · by Oatka · 6 replies
    Bloomberg via gCaptain ^ | Oct. 18, 2017 | Ari Natter and Jennifer A. Dlouhy
    Link only (Bloomberg)
  • Newest Outpost for U.S. Crude Exports: India

    10/18/2017 7:00:31 PM PDT · by Oatka · 10 replies
    The Times of India ^ | Oct 17 2017 | Julia Simon and Nidhi Verma
    India is set to emerge as a key market for American crude exports in coming months, as refineries are ramping up "test" purchases of US grades to diversify their imports. US exports recently set a weekly record with nearly 2 million barrels of crude a day sent overseas. But shipments to India+ have been rare, with just a few deliveries since the US lifted its ban on crude exports in late 2015. Indian refineries are starting to increase purchases as the country seeks to secure more supply from outside the Middle East. Refiners are testing both US sweet and sour...
  • Per Capita Federal Spending Up Sevenfold Since 1941

    10/18/2017 1:10:27 PM PDT · by Kaslin · 9 replies
    Townhall.com ^ | October 18, 2017 | Terry Jeffrey
    Real per capita federal spending has increased more than sevenfold since fiscal 1941, which concluded on June 30 of that year -- or about five months before the Japanese bombed Pearl Harbor. In fiscal 1941, real per capita federal spending was approximately $1,718. In fiscal 2017, which concluded at the end of September, it was about $12,239. Back in 1941, at the beginning of Franklin Delano Roosevelt's unprecedented third presidential term, the federal government spent $13,653,000,000, according to the White House Office of Management and Budget. Although that was a massive increase from the $4,598,000,000 the federal government had spent...
  • How a Healthy Economy Can Shorten Life Spans

    10/18/2017 7:37:27 AM PDT · by DFG · 28 replies
    NY Slimes ^ | 10/16/2017 | Austin Frakt
    The health of a nation’s economy and the health of its people are connected, but in some surprising ways. At times like these, when the economy is strong and unemployment is low, research has found that death rates rise. At least, in the short term. In the long term, economic growth is good for health. What’s going on? One study of European countries just before and during the Great Recession found that a one-percentage-point increase in the unemployment rate is associated with a 0.5 percent decline in the overall mortality rate. Other studies of Europe during different periods, as well...
  • White House: Americans are 'going to be begging for four more years of President Trump'

    10/17/2017 9:31:17 PM PDT · by 2ndDivisionVet · 4 replies
    The Politico ^ | October 17, 2017 | Nolan D. McKaskill
    White House press secretary Sarah Huckabee Sanders predicted Tuesday that President Donald Trump will be so successful in the remainder of his term that Americans are “going to be begging for four more years of President Trump.” In an interview Tuesday morning, conservative radio host Hugh Hewitt suggested that Trump needs to return to Cleveland, where he was nominated to be the Republican Party’s presidential nominee in 2016, to be renominated in 2020. But the Trump administration spokeswoman was bullish on the president’s prospects to reclaim the GOP nomination, regardless of where the party holds its 2020 nominating convention. “You...
  • Schooling the U.S. on economic freedom

    10/17/2017 2:33:49 PM PDT · by TBP · 1 replies
    The Washington Times ^ | Monday, October 16, 2017 | Richard W. Rahn
    Once again, there is more evidence that economic freedom leads to success. Many of the former communist countries of Central and Eastern Europe and the Soviet Union have made enormous economic progress from the time they became free almost three decades ago. The first few years after the collapse of communism (1989-92) were very difficult as the countries struggled to make the transition to a capitalist free-market economy, which many had largely achieved by 1995. The irony is there are some lessons for the United States from some of the successes of the former communist countries. The United States has...
  • CNBCs own 'Dr. Doom' Faber: 'Thank God white people populated America'

    10/17/2017 1:50:53 PM PDT · by DCBryan1 · 152 replies
    CNBC ^ | Jeff Cox | @JeffCoxCNBCcom
    Market doomsayer Marc "Dr. Doom" Faber has launched a racially charged diatribe in his latest newsletter, alleging that the U.S. is great primarily because it is ruled by white people. The eccentric Gloom, Boom & Doom report author, who often speaks on CNBC and other financial media, generally forecasting some type of market downturn, focused his latest comments on the racial conflicts happening around the country. (A CNBC spokesperson said it will not book him in the future.) "And thank God white people populated America, and not the blacks. Otherwise, the US would look like Zimbabwe, which it might look...
  • Poll: Most Would Welcome New Amazon Headquarters

    10/17/2017 2:18:10 AM PDT · by 2ndDivisionVet · 17 replies
    Morning Consult ^ | October 17, 2017 | Joanna Piacenza
    U.S. adults disregard potential negative impact of Amazon's presence Time is running out for cities to submit their bids to become Amazon.com Inc.’s second home. The tech giant announced plans last month to open up a second headquarters — and its hunt for a host city. Bids from metropolitan areas are due Thursday. There are plenty of willing contestants: Mayors across the country have launched viral-worthy campaigns enticing Amazon to choose their cities, with the winner set to be announced sometime in 2018. A Sept. 29-Oct. 1 Morning Consult survey found that 72 percent of a national sample of 2,201...
  • A Message from President Trump

    10/16/2017 5:12:08 AM PDT · by Enlightened1 · 3 replies
    Mark Dice via Youtube ^ | 10/15/17 | Donald J. Trump
    An important message from President Trump on Making America Great Again. https://www.youtube.com/watch?v=bmo4kolTFjk
  • Billionaire Sam Zell: I see 'very significant' positive change for business under Trump

    10/15/2017 4:49:13 PM PDT · by 2ndDivisionVet · 6 replies
    CNBC ^ | September 26, 2017 | Matthew J. Belvedere
    •Corporate America is willing to invest money on a longer-term basis under President Trump, real estate mogul Sam Zell says. •Zell points to deregulation and promises of tax cuts and massive infrastructure spending as major positives for business. •Continued improvement in underlying economic growth continues to "surprise," he says. Corporate America is willing to invest money on a longer-term basis under President Donald Trump than the previous "anti-business administration" of Barack Obama, real estate mogul Sam Zell told CNBC on Tuesday. "Bluntly, the only way I can square anything is I focus on what gets done, not what's said," the...
  • Becoming a Steelworker Liberated Her. Then Her Job Moved to Mexico.

    10/15/2017 7:40:23 AM PDT · by Theoria · 51 replies
    The New York Times ^ | 14 Oct 2017 | Farah Stockman
    The man from Mexico followed a manager through the factory floor, past whirring exhaust fans, beeping forklifts, and drilling machines that whined against steel. Workers in safety glasses looked up and stared. Others looked away. Shannon Mulcahy felt her stomach lurch. It was December 2016. The Rexnord Corporation’s factory still churned out bearings as it always had. Trucks still dropped off steel pipes at the loading dock. Bill Stinnett, a die-hard Indiana Pacers fan, still cut them into pieces. The pieces still went to the “turning” department, where they were honed into rings as small as a bracelet or as...
  • No Room for “Buffetnomics” in the GOP

    10/13/2017 4:02:01 PM PDT · by Sean_Anthony · 6 replies
    Canada Free Press ^ | 10/13/17 | Megan Barth
    These GOP members who are contemplating raising taxes are playing with fire. Failure to act in a way that pleases the base will ensure they are the ones who get burned Make no mistake about it: if Congress, particularly the United States Senate, fails to send a tax bill to the president’s desk, it will imperil the congressional majority, do lasting damage to the Republican Party, and potentially threaten the American economy. The clock is ticking.
  • China may be Trump’s best hope to ‘make America great again’

    10/13/2017 7:03:19 AM PDT · by 2ndDivisionVet · 12 replies
    Asia Times ^ | October 13, 2017 | Ken Moak|
    China is not America’s enemy or competitor or whatever name the US anti-China crowd labels it with. It is not challenging US global supremacy or stealing its jobs, as many in America claim. On the contrary, the Chinese and US economies are increasingly intertwined, becoming each other’s largest trade partners and major investors. What’s more, a large number of US states (such as Iowa) and cities (Los Angeles) are dependent on the Chinese market and investment to sustain economic growth. The two countries are also cooperative in geopolitics, working together to defuse the Korean Peninsula nuclear issue, holding frequent high-level...
  • Today's Turn-of-the-Century Problems

    10/13/2017 4:34:33 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | October 13, 2017 | Michael Barone
    Is America in a new Gilded Age? That's the contention of Republican political consultant Bruce Mehlman, and in a series of 35 slides, he makes a strong case. In many ways, problems facing America today resemble those facing what we still call "turn-of-the-century" America, the 1890s to the 1910s. Just as employment shifted from farms to factories a century ago, it has been moving from manufacturing to services recently. Financial crashes are another point of resemblance, coming precisely 100 years apart. The panic of 1907 was resolved when J.P. Morgan locked his fellow financiers in his library and required them...