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Business/Economy (News/Activism)

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  • CalPERS Reports Preliminary 11.2 Percent Investment Return for Fiscal Year 2016-17

    07/22/2017 8:42:35 AM PDT · by willk · 10 replies
    CalPERS ^ | July 14,2017 | CalPERS
    SACRAMENTO, CA - The California Public Employees' Retirement System today reported a preliminary 11.2 percent net return on investments for the 12-month period that ended June 30, 2017. CalPERS assets at the end of the fiscal year stood at more than $323 billion. The strongest returns came from the Public Equity Program, which generated a 19.7 percent return. Private Equity's preliminary net returns were 13.9 percent, followed by Real Estate, with preliminary net returns of 7.6 percent. Based on these preliminary fiscal year returns, the funded status of the overall CalPERS fund is an estimated 68 percent, an increase of...
  • Stuart Varney: Trump Has Already Made 'America $4 Trillion Richer’ in Just 6 Months

    07/22/2017 6:45:43 AM PDT · by Enlightened1 · 27 replies
    IPJ ^ | 07/22/17 | Julio Rosas
    In an op-ed on his Fox Business show Thursday, host Stuart Varney made the case of how President Donald Trump has made the U.S. richer while only being in office for six months. Despite the negative media coverage, Varney says investors look forward to what the current administration can continue to do: Look at this: Since his election win, the Trump rally has added $4.1 trillion to the nation's wealth. Anyone with a 401k, an IRA, college savings, retirement savings, mutual funds. Anyone with a dime in the market has taken a piece of that $4 trillion. Also, during this presidency, five American...
  • GREAT AGAIN: President Trump Eliminates 860 Obama-Era Federal Regulations

    07/22/2017 5:33:06 AM PDT · by Enlightened1 · 25 replies
    Breitbart ^ | 07/21/17 | Jerome Hudson
    President Donald Trump’s White House has, according to Office of Management and Budget (OMB) Director Mick Mulvaney, removed or withdrawn about 860 Obama administration-era federal regulations. The massive decrease in regulations is part of the Trump administration’s overall deregulatory agenda, Mulvaney said during a press briefing Thursday. Updating reporters on President Trump’s 2-for-1 policy for federal regulations — which requires cutting two regulations for every one new implemented regulation — Mulvaney said we are at 16-to-1, Breitbart News’s Michelle Moons reports. Speaking to the “slow accretion, that slow cancer that can come from regulatory burdens that we put on our...
  • Boom: Mining +21.6% in Q1; Construction +5.6%; Manufacturing +4.7%; Bust: Finance -2.1%

    07/21/2017 9:49:26 PM PDT · by 2ndDivisionVet · 10 replies
    CNS News ^ | July 21, 2017 | Terence P. Jeffrey
    The real value added to the U.S economy by the mining, construction and manufacturing sectors boomed in the first quarter of 2017, while the real value added by the financial and insurance sector dropped, according to data released today by the Bureau of Economic Analysis. Overall, the U.S. economy grew at an annual pace of only 1.4 percent in the first quarter. But the value added by mining grew by a booming annual rate of 21.6 percent, while construction grew 5.6 percent and manufacturing grew 4.7%.....
  • Food Stamp Use Falls to Lowest Level in Seven Years

    07/21/2017 8:33:28 PM PDT · by upchuck · 24 replies
    Breitbart ^ | Jul 20, 2017 | KATHERINE RODRIGUEZ
    Participation in the food stamp program took a dive to the lowest level it has been in seven years, according to new data from the U.S. Department of Agriculture (USDA). USDA statistics on Supplemental Nutrition Assistance Program (SNAP) participation showed that 42,609,852 people in the U.S. took part in the food stamp program in fiscal year (FY) 2017, the lowest level it has been since 2010 when 40,302,000 people enrolled in the program. Food stamp usage has been on a steady decline after 2013, when enrollment in the government program swelled to 47.6 million, the highest amount it has ever...
  • China becomes world’s top buyer of Australian gold

    07/21/2017 6:23:20 PM PDT · by ameribbean expat · 3 replies
    China is now the world’s biggest importer of Australian gold, as 77 percent were exported to China during the first quarter of 2017, according to Resources and Energy Quarterly released by Australian Government. Australia exported 57.6-metric-tons of gold to the Chinese mainland and the special administrative region of Hong Kong in the first quarter of the year, a 54.4 percent year-on-year growth compared to last year. Data shows that China’s demand for Australian gold has been increasing over the past years, reaching a new high in 2017. China’s top exporters of gold are Australia and the U.S. Hong Kong and...
  • Obama Left Over 800 Proposed Regulations...Guess What Trump Just Did to Every Last One of Them

    07/21/2017 5:05:14 PM PDT · by ForYourChildren · 69 replies
    Independent Journal Review ^ | 07/21/2017 | Jason Howerton
    When President Donald Trump took office, there were over 800 proposed regulations left over by his predecessor. On Thursday, the White House announced it had withdrawn every single one of them in an effort to chip away at the burden of government regulations. The Trump administration said former President Barack Obama’s administration left 469 planned actions and 391 proposed “regulatory proceedings,” according to Reuters. White House budget director Mick Mulvaney put it like this: the Trump administration is killing the “slow cancer that can come from regulatory burdens that we put on our people." {..snip..}
  • Yellen (FED chair) on Inflation

    07/21/2017 1:57:32 PM PDT · by entropy12 · 2 replies
    Safehaven ^ | 07-16-17 | Doug Noland
    "Fed Chair Janet Yellen says that in looking at asset prices and valuations, the central bank is 'not trying to opine on whether they're correct'; instead, policy makers are assessing the risk of potential spillovers. As asset prices rise, there hasn't been a substantial increase in borrowing, Yellen said. [The] financial system is strong and resilient." I assume chair Yellen is referring to U.S. non-financial and non-government borrowings. Clearly, central bank Credit and government borrowings have expanded spectacularly around the globe. I suspect as well there has been a major expansion in speculative leveraging and securities Credit at home and...
  • McDonald's Takes 'Appropriate Action' After Employee Refused to Serve Uniformed Police Officer

    07/21/2017 1:05:01 PM PDT · by nickcarraway · 41 replies
    Richmond Times-Dispatch ^ | Jul 18, 2017 | Bill Lukitsch
    An on-duty officer with the Virginia Department of Game and Inland Fisheries says he was denied service at a McDonald’s restaurant in Henrico County because of his profession, prompting the owner to take what was described as “appropriate action” to resolve the situation. Scott Naff, a 25-year law enforcement veteran, was apparently not given his food after he paid for it because the employee in the drive-thru allegedly refused to serve police. The event was first broadcast online late Thursday through the officer’s wife, whose Facebook post had received more than 2,000 comments and 3,500 shares by Monday. The officer...
  • Senator McCain Introduces New Bill to Repeal Jones Act

    07/21/2017 10:53:04 AM PDT · by Oatka · 50 replies
    gCaptain ^ | July 18, 2017 | Mike Schuler
    (Note: On Wednesday, the Mayo Clinic in Phoenix released a statement saying that tissue pathology revealed that a primary brain tumor known as a glioblastoma, an aggressive type of cancer, was associated with Senator McCain’s blood clot. The statement added that the tissue of concern was completely resected during last Friday’s procedure, and the Senator and his family are reviewing further treatment options, which may include a combination of chemotherapy and radiation. The statement went on to say that “the Senator’s doctors say he is recovering from his surgery ‘amazingly well’ and his underlying health is excellent.” It is unclear...
  • Band of Brothers or Harbingers of Doom? Mueller’s Team Enigma

    07/21/2017 9:36:38 AM PDT · by ptsal · 15 replies
    Conservative Exporer ^ | July 19, 2017 | John Miller
    [snip] If you’ve been paying attention, there is a lot of media furor being focused on the enigma that is Special Counsel Mueller and the team of investigators, lawyers, and FBI veterans that he has gathered for his probe into, well, something about Russia, something about the election, and collusion? What exactly he is supposed to be investigating seems to change every time its being mentioned by a different outlet, but the one thing that every group agrees on is that the scope of his investigation can turn basically whichever direction he sees fit with only a little oversight from...
  • The media's war on Trump is destined to fail. Why can't it see that?

    07/21/2017 9:16:32 AM PDT · by Lorianne · 19 replies
    Guardian UK ^ | 21 July 2017 | Thomas Frank
    The newspaper industry as a whole has been dying slowly for years, as the pathetic tale of the once-mighty Chicago Tribune reminds us. But for the handful of well funded journalistic enterprises that survive, the Trump era is turning out to be a “golden age” – a time of high purpose and moral vindication. The people of the respectable east coast press loathe the president with an amazing unanimity. They are obsessed with documenting his bad taste, with finding faults in his stupid tweets, with nailing him and his associates for this Russian scandal and that one. They outwit the...
  • Average Americans Can No Longer Afford Average New Cars

    07/21/2017 9:06:34 AM PDT · by Lorianne · 159 replies
    Gas 2 ^ | 17 July 2017 | Steve Hanley
    Some people say capitalism and alligators have much in common — both eat their young. While the rich get richer (and will get richer still if the #FakePresident has his way), ordinary schlubs who are working one, two, or sometimes three jobs to make ends meet are finding they can no longer afford to buy average new cars. That’s according to a new study by Bankrate.com. It finds that people living in 24 of the 25 largest metropolitan areas in the US cannot afford the average price of new cars, which was $33,000 in May according to Kelly Blue Book....
  • Rich shouldn't pay their taxes, Washington state GOP says

    07/21/2017 8:53:26 AM PDT · by Lorianne · 16 replies
    CNBC ^ | 19 July 2017 | Robert Frank
    Seattle's rich should engage in upper-class "civil disobedience" and refuse to pay their city taxes, Washington state's Republican leaders said. After the city of Seattle passed a new income tax on households earning more than $500,000, the Washington State Republican Party called for taxpayers to "forcefully resist" the tax by refusing pay, file or comply with it. "It deserves nothing less than civil disobedience," the state GOP said in a statement. "It deserves nothing less than civil disobedience," the state GOP said in a statement. Last week, Seattle's city council passed a 2.25 percent tax on income above $250,000 for...
  • 100 accept buyout packages from NY Times ‘death panels’

    07/21/2017 8:39:51 AM PDT · by Sub-Driver · 18 replies
    100 accept buyout packages from NY Times ‘death panels’ By Keith J. Kelly July 20, 2017 | 10:37pm The New York Times “death panels” have concluded their work, Media Ink has learned, and as of 5 p.m. on the July 20 deadline, it appeared 100 employees at the Gray Lady have accepted “voluntary” buyout packages and are leaving the building. Aside from the complete elimination of the title of copy editor, and layoffs of many holding that job, the Times offered buyouts to a limited number of reporters, photographers and design people, according to Grant Glickson, president of the NewsGuild...
  • Who Receives Medicaid? A State-by-State Breakdown

    07/21/2017 8:31:36 AM PDT · by spintreebob · 22 replies
    Center for American Progress ^ | 7/20/2017 | Rachel West and Katherine Gallagher Robbins
    Dismantling Medicaid is at the heart of President Donald Trump and the Republican-controlled Congress’ agenda. President Trump proposed cutting Medicaid by half in his budget, and Congress has proposed taking an ax to the program both through their repeal of the Affordable Care Act as well as through their budget blueprints. In all cases, these cuts to health coverage and services for children, people with disabilities, seniors, and low-income adults whom Medicaid serves would be used to pay for tax cuts for millionaires and corporations. These cuts would have devastating consequences for the individuals, families, and communities that Medicaid serves....
  • The West Is on Fire. Blame the Housing Crisis

    07/21/2017 8:29:34 AM PDT · by Lorianne · 8 replies
    Wired ^ | 18 July 2017 | Adam Rogers
    California is on fire again. CalFire, one of the agencies charged with putting those fires out, is tracking upward of two dozen conflagrations up and down the state at the moment—Detwiller, Grade, Bridge, Wall, Alamo, Garza, on and on—ranging in size from a couple hundred acres to nearly 50,000. It’s tempting to see each fire season as worse than the last, and to further see that as evidence of the kind of apocalypse that a changing climate will visit on civilization. If it ain’t rising water at the coasts it’s a “firenado” in the hills. But researchers have identified an...
  • Harley-Davidson Spirals Down, Announces US Layoffs, Builds Factory in Thailand

    07/21/2017 8:13:13 AM PDT · by Lorianne · 97 replies
    Wolf Street ^ | 18 July 2017 | Wolf Richter
    Shares of Harley-Davidson (HOG) dropped 10% in the morning after the company reported second-quarter earnings and were down nearly 6% at the end of the day. Almost everything was bad. Retail sales by its dealers in the US fell 9.3% in Q2, compared to a year ago, to 49,668 motorcycles. They were “down more than we anticipated,” the company said. And with “soft sales across most markets,” sales by its dealers globally fell 6.7%. “Industry new motorcycle sales deterioration continued,” the company said in its presentation, lamenting “weak industry sales on soft used bike prices.” In addition to the industry...
  • Canada PM Stands By Supply Management As US Debates NAFTA

    07/21/2017 7:25:56 AM PDT · by spintreebob · 2 replies
    Manufacturing.net ^ | 7/20/2017 | Associated Press
    Canadian Prime Minister Justin Trudeau says he will continue to defend the supply management system that protects the Canadian dairy industry in talks about revamping the North American Free Trade Agreement. A U.S. House subcommittee raised the long-standing trade irritant at its hearing on NAFTA negotiations Tuesday, suggesting Canadian measures to protect the industry will be a sticking point. Congressman Ron Kind, a Democrat from Wisconsin, says he does not want to jeopardize a crucial trading relationship with Canada but thinks the system should be more balanced. The Trump administration released its objectives for a new trade deal earlier this...
  • As California’s labor shortage grows, farmers race to replace workers with robots

    07/21/2017 6:28:55 AM PDT · by C19fan · 28 replies
    LA Times ^ | July 21, 2017 | Geoffrey Mohan
    Driscoll’s is so secretive about its robotic strawberry picker it won’t let photographers within telephoto range of it. But if you do get a peek, you won’t see anything humanoid or space-aged. AgroBot is still more John Deere than C-3PO — a boxy contraption moving in fits and starts, with its computer-driven sensors, graspers and cutters missing 1 in 3 berries.