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Keyword: finance

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  • Forget the National Debt - Most of America's Big Cities Are Broke

    02/20/2024 9:24:27 PM PST · by SeekAndFind · 20 replies
    Red State ^ | 02/20/2024 | Ben Kew
    A majority of America's largest cities are broke and unable to meet their liabilities, according to a new analysis. In its eighth annual Financial State of the Cities report, the right-leaning think tank Truth in Account determined that as of 2022, 53 of the country's 75 largest cities have fewer assets than liabilities. The report notes:At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills. This means that to claim their budgets were balanced—as is required by law in the 75 cities—elected officials have not included the actual costs...
  • Outrage as Biden administration admits surveilling Americans' private financial transactions for words like 'MAGA' 'Trump' and 'Kamala' in wake of Jan. 6 riots...with people buying BIBLES on top of their watchlist

    02/10/2024 3:04:52 AM PST · by Libloather · 46 replies
    Daily Mail ^ | 2/09/24 | Kamal Sultan
    The Biden Administration has admitted to surveilling the private financial transactions of Americans for words including 'MAGA', 'Trump' and 'Kamala' following the January 6 riots. Federal investigators in the Treasury's Financial Crimes Enforcement Network (FinCEN) instructed banks to comb through records to look for 'extremists'. A letter from the Treasury Department, seen by Fox News, was sent to Senator Tim Scott on Friday which states 'Exchange events' began 'shortly after January 6 under the prior Administration'. It said it 'included terms such as "antifa," "MAGA," "Trump," "Biden," "Kamala," "Schumer," and "Pelosi."' The federal government was specifically 'watching' Trump supporters and...
  • Why Data Privacy Matters

    02/08/2024 1:02:34 PM PST · by Tilted Irish Kilt · 5 replies
    Taking steps to manage your privacy settings and data is an important part of emergency preparedness actions we all should take.Why Data Privacy Matters Take Control During Data Privacy Week [It's a matter of personal responsibility]
  • 46-year-old early retiree who had $380,000 a year in passive income heads back to work—here’s why {financial samurai}

    02/03/2024 9:30:22 PM PST · by Cronos · 36 replies
    Cnbc ^ | 3rd February 2024 | Ryan Ermey
    For the first time since 2012, Sam Dogen is getting a day job. That’s the year that Dogen quit his job as an investment banker, having spent 13 years working, saving, investing and generally burning himself out. At age 34, his portfolio and real estate investments were generating about $80,000 a year — enough for he and his wife to live on in perpetuity. So, he took his severance and left. His wife did the same in 2015. ...Over the years, Dogen built his passive income streams to about $380,000 annually — $288,000 net of taxes. That was enough to...
  • Dow closes above 38,000 for 1st time, setting record high

    The Dow Jones Industrial Average closed above 38,000 for the first time on Monday, setting a record high and capping a steady rise that stretches back to last week. The S&P 500 also reached a record high, closing at about 4,850. The tech-heavy Nasdaq inched up to 15,360 by the end of trading on Monday. The major stock indexes kicked off the year with sluggish performance but began to turn upward in the middle of last week. The recent surge follows a stellar showing for markets in 2023, driven in large part by optimism about the prospects for a "soft...
  • Is ESG Already Over?

    01/17/2024 9:09:56 AM PST · by Twotone · 10 replies
    Reason ^ | February 2024 | Russ Greene
    It may not seem unusual that a corporate CEO would want to focus on increasing shareholder value, but in October this was treated as big news. A Financial Times headline announced that "Unilever's new chief says corporate purpose can be 'unwelcome distraction.'" That new CEO, Hein Schumacher, went on to explain that he rejected the idea that "every brand should have a social or environmental purpose." He intended, he said, to build a "performance culture" instead. Why would it be newsworthy for a CEO to be focused on corporate performance? Not long ago, that was simply assumed. What changed? The...
  • China Deals Major Blow to Russian Economy

    01/16/2024 7:32:40 PM PST · by Sunsong · 71 replies
    Newsweek ^ | Giulia Carbonaro
    "China's state-owned banks are tightening curbs on funding to Russian clients as they fear being subjected to secondary sanctions from the U.S., according to a Tuesday report by Bloomberg... "...Chris Weafer, chief executive officer of strategic consultants Macro-Advisory Ltd., which focuses on Russia and the Eurasia region, previously told Newsweek that Russia should be wary of this increased reliance on China. "While China is eagerly buying energy and materials and selling Chinese-made goods to the Russia market, all of which suits Beijing, there is very little investment coming into Russia, certainly nothing like enough to replace the lost investment from...
  • Victor Davis Hanson: A Culture in Collapse

    01/08/2024 5:37:10 AM PST · by MtnClimber · 80 replies
    American Greatness ^ | Victor Davis Hanson
    American civilization has been turned upside down, and we have a rendezvous soon with the once unthinkable and unimaginable. In the last six months, we have borne witness to many iconic moments evidencing the collapse of American culture. The signs are everywhere and cover the gamut of politics, the economy, education, social life, popular culture, foreign policy, and the military. These symptoms of decay share common themes. Our descent is self-induced; it is not a symptom of a foreign attack or subterfuge. Our erosion is not the result of poverty and want, but of leisure and excess. We are not...
  • Breitbart Business Digest Exclusive with Donald Trump: Former POTUS Predicts Fed Will Lower Rates to Help the Democrat Nominee.

    01/02/2024 8:19:13 PM PST · by Macho MAGA Man · 17 replies
    Breitbart ^ | January 2, 2024 | Alexander Marlow
    Trump Predicts the Fed Will Lower Rates to Help Democrats We also were keen to ask Trump if he thinks the Federal Reserve and Chairman Jerome Powell will cut interest rates specifically to help Joe Biden (or another Democrat) win the general election. The former President said he does think that is how things will play out. "Yeah, I think they will,” he said, before taking a light dig at Powell. “I was never a big fan of this guy,” Trump told us, before casually pointing the finger at his own Treasury Secretary. “Steve Mnuchin recommended him, but I was...
  • Recession Risk: Which Sectors of the Economy are Least Vulnerable?

    12/02/2023 5:37:17 PM PST · by SeekAndFind · 9 replies
    Visual Capitalist ^ | 12/02/2023 | Dorothy Neufeld, Graphics/Design: Sabrina Fortin
    If, and when, a recession ever occurs again in any of our lifetimes - certainly not in the golden age of Bidonomics, pain will be felt disproportionately as usual.Sectors which fare better will typically exhibit;Less cyclical exposureLower rate sensitivityHigher cash levelsLower capital expendituresAs such, Visual Capitalist's Dorothy Neufeld takes a look at the sectors most resilient to recession risk and rising costs, using data from Allianz Trade. Recession Risk, by SectorAs slower growth and rising rates put pressure on corporate margins and the cost of capital, we can see in the table below that this has impacted some sectors more...
  • Biden’s $45 Billion Boondoggle For Office-To- Home Conversions Getting Harder (Biden Has To Find Housing For The 8 Million Illegal Immigrants That Have Crossed Under Biden/Mayorkas!) Why Isn’t The Private Sector Doing The Conversions??

    11/10/2023 8:16:30 AM PST · by Kaiser8408a · 22 replies
    Confounded Interest ^ | 11/10/2023 | Anthony B. Sanders
    Has anyone considered the impact of Biden/Mayorkas’s open southern border with Mexico? Other than the crime, stress on existing services like healthcare, schools and Social Security. But where will the 8 million illegal immigrants reside? Well. the Biden Administration has an answer: throw money at it! This time, $45 billion to convert empty office space to homes. Not just for illegals, but for anyone. Conversion from office space to apartments is getting harder. Let’s discuss why, and also what the effort is really all about. Only 3,575 apartment units were converted from office space last year. The already fraught process...
  • Breaking the Bank: The Unprecedented Bank Outages Sweeping America – A Winter of Financial Discontent

    11/10/2023 5:08:31 AM PST · by Jan_Sobieski · 29 replies
    American Media Group ^ | 11/09/2023 | Madeea Greere
    […]Small banks, the underdogs of the financial ecosystem, have been hit particularly hard. Rising interest rates, which should spell prosperity for these institutions, have instead become harbingers of doom. Take the sad tale of Iowa-based Citizens Bank. Once a pillar of its community, now the fifth to fall this year, it has been declared insolvent.Regulators from the Iowa Division of Banking have unearthed significant loan losses, ones that had slithered undetected beneath the bank’s watch. Triggered by a spate of bankruptcies in the trucking sector, amidst a nationwide freight recession, the bank’s collapse is but a symptom of a much...
  • It now costs 52% more to buy a home than rent one: ‘Never been a worse time’

    10/30/2023 4:29:34 PM PDT · by millenial4freedom · 61 replies
    New York Post ^ | 10/23/2023 | Shannon Thaler
    The average monthly mortgage payment is a whopping 52% higher than the average monthly rent on a house or apartment — a ratio that hasn’t been this out of whack since before the 2008 housing crash, according to The Wall Street Journal.
  • The US's massive debt pile is fueling the bond-market crash. These 4 charts tell the story.

    10/30/2023 9:27:55 AM PDT · by RomanSoldier19 · 15 replies ^ | October 28, 2023 | George Glover
    The Treasury-bond rout that's rattled US markets this month is forcing investors to zero in on the government's spiraling debt. The accelerated increase in America's indebtedness has already sparked concern for investors in 2023, with lawmakers only narrowly avoiding a catastrophic default in June thanks to President Joe Biden and then-House Speaker Kevin McCarthy brokering an 11th-hour deal to raise the federal borrowing limit. Now, some of Wall Street's best-known names are raising the possibility that so-called "bond vigilantes" – who dump fixed-income assets in a bid to stymie what they see as imprudent policymaking – have helped fuel the...
  • NY’s grip as US finance capital imperiled by high taxes, poor business climate: study

    10/30/2023 7:47:40 AM PDT · by ChicagoConservative27 · 18 replies
    NY Post ^ | 10/29/2023 | Carl Campanile
    The Empire State is losing its grip as the nation’s financial services capital. New York’s financial services industry – a great contributor to the state’s gross domestic product – has been imperiled by the plummeting population of high-income residents, who are fleeing amid towering taxes and rising housing costs, according to a sobering new study. “As other states attract talent and investment in the sector, there is no guarantee of future success,” said the report from the Business Council of New York State. “Addressing the state’s tax burden, business climate, and cost of living can help to ensure New York’s...
  • Livin’ La Vida Biden! Biden Administraation Threatens Banks That Refuse To Lend Money To Illegal Immigrants As Biden Relaxes Oil Restrictions On Venezuela (IF Venezuela Allows Non-Maduro Candidate To Run For President)

    10/16/2023 10:17:21 AM PDT · by Kaiser8408a · 28 replies
    Confounded Interest ^ | 10/16/2023 | Anthony B. Sanders
    We are Livin’ la vida Biden as Biden continues to push illegal immigration and working with Communist dictators like Venezuela’s Nicolas Maduro and NOT expand US energy production. The Biden administration released a statement Thursday warning financial institutions against using a person’s immigration status in credit applications. The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) released a joint statement telling financial institutions that while it is not illegal to consider a person’s immigration status in the decision on whether to lend money, an overreliance on it could run afoul of the law, according to the statement....
  • Biden Admin Threatens Banks That Refuse To Lend Money To Illegal Immigrants

    10/13/2023 6:38:05 AM PDT · by ChicagoConservative27 · 95 replies
    MSN ^ | 10/12/2023 | Will Kessler
    The Biden administration released a statement Thursday warning financial institutions against using a person’s immigration status in credit applications. The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) released a joint statement telling financial institutions that while it is not illegal to consider a person’s immigration status in the decision on whether to lend money, an overreliance on it could run afoul of the law, according to the statement. The statement implicates the Equal Credit Opportunity Act (ECOA), which makes it illegal to discriminate on the basis of race, color, religion, national origin, sex and more in...
  • Under-Stress Wells Fargo Executive Jumped to His Death From Top of Delaware Offices: Report

    10/01/2023 7:13:03 PM PDT · by 2Dreamin · 63 replies
    Greg Beckett, a 46-year-old executive at Wells Fargo, jumped to his death in an apparent suicide from the office boardroom on the 14th floor at the company’s headquarters in Wilmington, Delaware, authorities have revealed. Though Beckett, from Bridgeport, New Jersey, took his own life back in January, new details have been revealed what led up to his death, according to a new report. His family reportedly said Beckett was under immense stress and pressure from his job and had been responsible for safeguarding Wells Fargo's risk exposure, the Daily Mail reported.
  • NY AG Seeks Ban On All Trump Family NY Business Starting Monday

    10/01/2023 9:21:13 AM PDT · by ATOMIC_PUNK · 21 replies ^ | Sep 30, 2023 | Michael Popok
    NY AG Seeks Ban On All Trump Family NY Business Starting Monday Trump defendants’ insurance, & financial statement fraud & conspiracy trial starts Monday he NY Attorney General Letitia James is not content to just have the trial judge Judge Engoron rule that Trump (Don Jr., Eric and all of his key executives and companies) have committed Persistent Fraud under NY Executive Law 63-12 in all of his business dealings by inflating his balance sheet to obtain loans, and deflating asset value to get tax breaks. And it’s not enough for the NY AG that the Judge already ordered, consistent...
  • Banking giant admits pressuring Intuit into cutting off gun companies

    09/26/2023 9:04:20 AM PDT · by CFW · 33 replies
    WND ^ | 9/26/23 | staff
    JPMorgan Chase admitted to pressuring the financial software company Intuit into preventing gun sellers from using the company’s payment processing services, according to a letter Sen. Ted Cruz sent Monday after looking into the policy. Bank of America, meanwhile, denied pressuring Intuit into banning gun manufacturers from using its famous QuickBooks software. “Woke big banks are increasingly weaponizing their power to cut off law-abiding businesses from accessing banking services,” Cruz, R-Texas, told The Daily Signal in an email statement Monday. [snip] Intuit, the financial software company best known for producing QuickBooks, had adopted an acceptable use policy previously listing “guns...