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Keyword: economy

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  • What and Who the Federal Reserve Really Is

    The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP Amoco and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch. According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation. .......long, detailed report at link
  • 'He'll be re-elected': Trump and allies tout the sweet smell of 2020 success

    10/13/2018 3:11:22 PM PDT · by 2ndDivisionVet · 42 replies
    The Manchester Guardian ^ | October 13, 2018 | David Smith in Washington
    The economy is roaring, the courts are turning right and trade wars are not producing defeats. As the president’s approval rating creeps up, is it all going right for Republicans? A strong economy with joblessness at its lowest rate for nearly half a century. A new trade deal with Canada and Mexico. Hopes of peace in the Korean peninsula. No major terrorist attacks on the homeland. A week that began with cheers at the White House for a new supreme court justice and ended with the release of an American pastor from jail in Turkey. An alien who landed in...
  • Powder keg circumstances of Iran’s society

    10/12/2018 12:06:32 PM PDT · by hassan.mahmoud · 8 replies ^ | Oct 12,2018 | Hassan Mahmoudi
    In recent years Iran is often depicted as a powerful giant whose arms stretch across the greater Middle East, but today the Iran's regime suffers from collection of problems at home and abroad. After Sanctions, Iran’s Economy Is Looming a Crisis. On Thursday night Donald trump Vowed that The US will take care" of countries which defy its directive to bring their oil imports from Iran to zero by November 4, President Donald Trump has warned, days after India announced that two of its firms have placed orders to import crude from the Gulf nation. Iran’s currency, the rial, has...
  • Trump’s List: 289 accomplishments in just 20 months, ‘relentless’ promise-keeping

    10/12/2018 10:03:02 AM PDT · by huldah1776 · 20 replies
    The Washington Examiner ^ | October 12, 2018 | Paul Bedard
    The Trump administration’s often overlooked list of achievements has surpassed those of former President Reagan at this time and more than doubled since the last tally of accomplishments after his first year in office, giving President Trump a solid platform to run for reelection on. As Trump nears the two-year mark of his historic election and conducts political rallies around the country during which he talks up his wins in hopes it will energize Republican voters, the administration has counted up 289 accomplishments in 18 categories, capped by the confirmation of Brett Kavanaugh to the Supreme Court. They include 173...
  • Woman who spent £16m in Harrods revealed['Unexplained Wealth Order']

    10/10/2018 12:42:38 PM PDT · by Theoria · 35 replies
    BBC ^ | 10 Oct 2018 | Dominic Casciani
    A woman who spent £16m at Harrods in a decade can now be identified as Zamira Hajiyeva - the first target for the UK's new anti-corruption law. Mrs Hajiyeva lost a legal battle to stay anonymous after the media argued the public should know the full facts. Originally from Azerbaijan, she is the wife of an ex-state banker. She risks losing her £15m home near the London store and a Berkshire golf course if she fails to explain the source of her wealth to the High Court. Under the terms of the UK's first ever Unexplained Wealth Order, Mrs Hajiyeva,...
  • Break up Amazon before it does any more damage to America

    10/10/2018 9:54:11 AM PDT · by SoFloFreeper · 62 replies
    NY POST ^ | 10/9/18 | Maureen Callahan
    ....Author, entrepreneur and NYU business professor Scott Galloway has emerged as one of Amazon’s fiercest critics. At last month’s Recode Code Commerce, Galloway gave a 45-minute talk on the future of retail that savaged Amazon and warned of the threats the company poses not just economically but philosophically and morally. “I believe our society is effectively going through this very uncomfortable transition that is bad for our youth, bad for America and bad for the planet where we no longer worship at the altar of character and kindness,” he said. “We worship at the altar of innovators and billionaires.” In...
  • Kanye West will meet President Trump on Thursday to discuss manufacturing jobs ..

    10/09/2018 9:16:51 AM PDT · by COUNTrecount · 49 replies
    Daily Mail UK ^ | October 9, 2018 | By Francesca Chambers
    Trump on Thursday to discuss manufacturing jobs in Chicago and opportunities for ex-cons The rapper will meet Trump along with his son-in-law and adviser Jared Kushner They will discuss manufacturing jobs in Chicago and opportunities for ex-cons West has been a prominent supporter of the president despite public criticism Angered SNL cast members when he went on an unscheduled rant last month at the end of the show about Trump Met with Trump at Trump Tower in New York City in 2016 after he was elected Wife Kim Kardashian has been the White House two times to discuss prison reform...
  • Ending the Credit Rating Agency Racket

    10/09/2018 9:32:50 AM PDT · by Kaslin · 6 replies ^ | October 9, 2018 | Stephen Moore
    This month marks the 10-year anniversary of the housing market meltdown that led to the Great Recession. Is another crisis looming around the corner? Hopefully not, but it is worrisome that a decade later Washington is engaged in the same derelict behavior that caused the crisis. Government agencies are still issuing taxpayer guarantees on more than 90 percent of mortgages -- many with less than 5 percent down payments. Yikes. Worse, the biggest conspirators in the meltdown, the duopolistic credit rating agencies Moody's and S&P, which gave sterling AAA grades on these bonds up nearly to the date they collapsed...
  • China’s central bank to pump US$110 billion into economy as US trade war intensifies

    10/07/2018 8:54:27 PM PDT · by JohnThree3to16 · 55 replies
    China’s central bank to pump US$110 billion into economy as US trade war intensifies ^ | Sunday 7 October 2018 | Sidney Leng Zhou Xin UPDATED : Sunday, 7 Oct 2018, 11:24PM war intensifies Sidney Leng Zhou Xin UPDATED : Sunday, 7 Oct 2018, 11:24PM China on Sunday announced a big cut in the amount of cash commercial banks have to put aside at the central bank, a move that will make an extra US$110 billion available for lending as Beijing works to shore up confidence in its economy and markets.
  • Trump on epic winning streak

    10/07/2018 5:54:29 PM PDT · by 2ndDivisionVet · 13 replies
    The Byronshire News (Australia) ^ | October 8, 2018 | Andrew Backhouse
    ANALYSIS DONALD Trump is on a winning streak - and after his latest victories is now assured of a much-sought-after legacy. The confirmation of his conservative nominee judge Brett Kavanaugh to the Supreme Court of the United States in the Senate has backed up Mr Trump's once seemingly outlandish claim about winning during the 2016 election campaign. "We're going to win. We're going to win so much. We're going to win at trade, we're going to win at the border. We're going to win so much, you're going to be so sick and tired of winning, you're going to come...
  • Kavanaugh dominated the news but POTUS Trump had a MAGA week

    10/06/2018 7:22:43 AM PDT · by SleeperCatcher · 13 replies
    The National Sentinel ^ | 10/6/18 | USA Features
    Winning: The Democrat-generated clown show surrounding the confirmation of one of the most brilliant minds to be nominated for the Supreme Court in decades, Brett Kavanaugh, got the bulk of news headlines this week, but there in the background was POTUS Donald Trump doing what he does — making America great again. In case you missed it, and many did, the president had a terrific week, which means that America had a great week as well.
  • Even the Seemingly Disappointing Job Creation Numbers Are Actually Pretty Great

    10/05/2018 8:20:08 AM PDT · by edwinland · 20 replies
    New York Times ^ | Oct 5, 2018 | Neil Irwin
    The September jobs numbers are the 2018 United States economy in a nutshell: Even when an economic report is bad these days, it’s actually pretty good. When the latest numbers first were broadcast at 8:30 a.m. Friday, it looked like a big disappointment. Employers added only 134,000 jobs to their payrolls last month, well below the levels of recent months and well below what forecasters had projected. But even apart from the usual warnings about statistical error and randomness (the true rate of job creation could turn out to be either much higher or much lower), the numbers are a...
  • Lies About Trade

    03/14/2018 9:10:10 AM PDT · by Kaslin · 26 replies ^ | March 14, 2018 | John Stossel
    Maybe Donald Trump is such a powerful communicator and pot-stirrer that other countries, embarrassed by their own trade barriers, will eliminate them. Then I will thank the president for the wonderful thing he did. Genuine free trade will be a recipe for wonderful economic growth. But I fear the opposite: a trade war and stagnation -- because much of what Trump and his followers say is economically absurd. "(If) you don't have steel, you don't have a country!" announced the president. Lots of things are essential to America -- and international trade is the best way to make sure we...
  • Amazon's Minimum Wage Hike: Heartfelt Activism, Or Crass Political Opportunism?

    10/04/2018 8:26:52 AM PDT · by SeekAndFind · 43 replies
    IBD ^ | 10/04/2018
    Amazon, the massive online retailer, announced with great fanfare that it will raise its minimum wage to $15 an hour, and will encourage others across the nation to do the same. Is it unselfish public-mindedness, or political and competitive pressures that's behind the move? Sorry, Jeff Bezos, but we don't buy the social justice talk anymore. Anytime a multi-billion dollar corporation begins talking about social issues, check your wallet. And then look at who's pressuring them. That's certainly the case with Amazon, which on Tuesday announced the minimum wage hike. "We listened to our critics, thought hard about what we...
  • United States : GE Appliances Plans $200 Million-Plus Investment, 400 New Jobs in Louisville

    10/04/2018 8:30:54 AM PDT · by bigbob · 17 replies
    Marketwatch ^ | 10-3-18 | NA
    During a news conference in Louisville, Gov. Matt Bevin joined elected officials and Kevin Nolan, president and chief executive officer of GE Appliances, a Haier company, to announce the appliance manufacturer will create 400 new jobs with a $200 million-plus investment in its laundry and dishwasher production facilities. GE Appliances has long been an exemplary corporate partner for Louisville and the commonwealth, Gov. Bevin said. This iconic company has employed many thousands of Kentuckians for generations, and we are grateful for their most recent investment in the Bluegrass State. As GE Appliances continues to adapt to a changing marketplace, we...
  • Dow eyes 27,000 and is set to break longest stretch without a 1,000-point milestone since Trump

    10/03/2018 10:39:21 AM PDT · by Red Badger · 14 replies ^ | Published: Oct 3, 2018 1:01 p.m. ET | By Mark DeCambre
    The Dow Jones Industrial Average was flirting with history on Wednesday—its first breach of a psychological milestone at 27,000. The Dow DJIA, +0.56% was up about 146 points, or 0.5%, at 26,921, at last check, putting the blue-chip index on pace for its 15th record close of 2018 and positioning the index for a chance to log a 1,000-point milestone for the first time since mid January. Presently, the Dow stands just about 0.3% shy of 27,000. The round-number marker for the Dow isn’t necessarily significant in itself but it does represent a resurgence for the stock market since the...
  • Many U.S. Metro Areas Have Greater GDP than Entire Developed Nations

    10/03/2018 12:30:07 PM PDT · by SeekAndFind · 13 replies
    Foundation for Economic Education ^ | 10/03/2018 | Mark J. Perry
    America’s largest metro economy—the New York area—produced 4 percent more economic output last year than the entire country of Canada. The table and first map above help to put America’s ridiculously large $19.5 trillion economy (Gross Domestic Product in 2017) into perspective by comparing America’s 20 largest metro area economies in 2017 (based on data recently released by the Bureau of Economic Analysis) to the economies of entire countries with similar Gross Domestic Products in 2017 (International Monetary Fund data here via Wikipedia). Here are some interesting facts about the size of US metro area economies: America’s largest metro...
  • Fed chief: U.S. in 'extraordinary times' with low unemployment, little inflation

    10/03/2018 7:16:27 AM PDT · by yesthatjallen · 12 replies
    The Hill ^ | 10/03/18 | BY MICHAEL BURKE
    Federal Reserve Chairman Jerome Powell said this week that the combination of low inflation and low unemployment shows that the U.S. economy is in "extraordinary times." “This historically rare pairing of steady, low inflation and very low unemployment is a testament to the fact we remain in extraordinary times,” Powell said in a speech Thursday. “I was asked at last week’s news conference whether these forecasts are too good to be true — a reasonable question.” "From the standpoint of our dual mandate, this is a remarkably positive outlook," Powell said. "Since 1950, the U.S. economy has experienced periods of...
  • S Koreans Will Oppose Seoul Paying for Reunification With Pyongyang - Lawmaker

    10/02/2018 7:05:20 PM PDT · by 2ndDivisionVet · 31 replies
    Sputnik ^ | October 3, 2018
    WASHINGTON (Sputnik) - South Korea will have to foot the bill for the reunification with North Korea and when citizens learn about the cost they will not support reunification, Korean Patriots Party leader Cho Won-jin told Sputnik. "US President [Donald] Trump is saying that he wants reunification without using America’s money whereas [South Korean President] Moon Jae-in wants to use Korea’s money for reunification, but the Korean public doesn’t really know this, and when they find out about it, there won’t be many Koreans who will agree to it," Cho said on Tuesday. Cho pointed out that "people are not...
  • Amazon to Raise Minimum Hourly Wage to $15 for All U.S. Workers

    10/02/2018 7:52:00 AM PDT · by Theoria · 32 replies
    The New York Times ^ | Oct 02 2018 | Karen Weise
    Even Amazon can get squeezed by political pressure and a tight labor market. The online giant on Tuesday said it would raise the minimum wage to $15 an hour for all of its United States workers. It said the pay increase would include part-time workers and those hired through temporary agencies. The company said it would also lobby Washington to raise the federal minimum wage. Amazon said the new wages would apply to more than 250,000 Amazon employees, including those at the grocery chain Whole Foods, as well as the more than 100,000 seasonal employees it will hire for the...