Category Archives: Business & Economy

Over-Promising Has Crippled Public Pensions, A 50-State Study

The real problem plaguing public pension funds nationwide has gone largely ignored… Most reporting usually focuses on the under-funding of state plans and blames the crises on a lack of taxpayer dollars. But it’s the uncontrolled growth in pension promises that’s actually wreaking havoc on state budgets and taxpayers alike. Over-promising is the true cause of many state crises. Under-funding is often just a symptom of this underlying problem.

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Government’s Already-Dismal Budget Forecast Just Got 106% Worse

This week, the Office of Management and Budget released a new report called the “Mid-Session Review” of the US federal budget. Last March, they projected a total budget deficit of $526 billion for Fiscal Year 2019. But according to the revised projections they published yesterday, the budget deficit for Fiscal Year 2019 will now be $1.085 TRILLION… 106% worse than projected.

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Futures Tumble After Trump Says “Ready To Go” With $500BN In Tariffs On All Chinese Imports

“I’m ready to go to 500,” Trump said, roughly the value of Chinese goods imported to the US last year.”I’m not doing this for politics. I’m doing this to do the right thing for our country,” Trump said in a CNBC interview aired Friday. “We are being taken advantage of and I don’t like it.”

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Amazon: Prime Day Was “Biggest Shopping Event Ever, Surpassing Cyber Monday And Black Friday”

Amazon said Prime Day sales grew more than 60%, breaking last year’s record and surpassing Amazon’s Black Friday and Cyber Monday, as well as the previous Prime Day. The company had also added “tens of millions of Prime members” to its platform, who purchased more than 100 million products for the first time ever.

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“Dark Path Ahead”: Why American Farmers Dread The Trade War

While automakers – and their dealerships – are getting most of the headlines this week, the effects of the escalating trade war between Presidents Trump, Xi, and Putin are rippling across numerous US industries – directly, and indirectly. Makers of whiskey, cheese, auto parts and more are contending with the global tariff battle – but it is US farmers that appear to be suffering the most.

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Four Trade War Scenarios: From ‘One-&-Done’ To ‘All Hell Breaks Loose’

On July 6th, President Donald Trump’s tariffs on $34 billion worth of Chinese goods are set to take effect. And, as Bloomberg’s Chief Asia Economist, Tom Orlik, notes, with an additional $16 billion coming close behind, and China threatening retaliation, it looks like the opening shots of a trade war are about to be fired.

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The Supreme Court Just Put Small Online Businesses at Serious Risk [VIDEO]

Small online businesses and consumers around the country will suffer the most from the Supreme Court’s ruling Thursday in South Dakota v. Wayfair Inc. The court essentially ruled that all 50 states and the tens of thousands of local tax jurisdictions are now permitted to reach outside their borders and require out-of-state internet retailers to collect and remit local sales taxes.

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EU Threatens $300 Billion Retaliation If US Moves Ahead With Auto Tariffs

More than a week after President Trump threatened to slap a 20% tariff on auto imports from the European Union, Brussels has issued a written warning to the US Department of Commerce with a threat of its own: If the Trump administration moves ahead with the auto tariffs, the bureaucrats in Brussels won’t hesitate to respond with tariffs on $300 billion in US goods…

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Canada Unleashes Retaliatory Tariffs On US: Here Is The Full List Of Affected Products

Canadian PM Justin Turdeau exclaimed his indignance at the Trump administration’s decision to impose tariffs on Canadian steel and aluminum imports, saying it is an “affront” and announced retaliatory tariffs against the US. The tariffs cover Whiskey, Orange Juice, and other food products as well as steel and aluminum. Measures will apply to up to C$16.6 billion dollars of products.

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