Category Archives: Business & Economy
White House Reveals Budget Deficit Will Be $250 Billion Greater Due To “Mistake”
The budget deficit for President Trump’s first two years in office will be nearly $250 billion higher than initially estimated, hitting $702 billion in fiscal 2017, due to what appears to have been a calculation mistake: a shortfall in tax collections and a mistake in projecting military healthcare costs, according to budget chief Mick Mulvaney.
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Golden Years… Or Tears: More US Seniors Are Still Working Than At Any Time Since The ’60s
Long walks on the beach, holding hands in a hot-tub overlooking the ocean, working on your golf game…in Hawaii, treating the kids and grand-kids to treats and trips – we have all seen the commercials of how great ‘retirement’ can be (or could have been), if you just put a little more money into the stock market via your friendly […]
Read moreA Tale Of Two Gold Markets
There really is no true market for gold, just a rigged game consisting of physical gold and paper gold trading side by side as if they were one and the same. They’re not. And the result? More and more paper gold is poised on top of on an inverted pyramid with less and less physical gold at the base distorting the actual price of physical gold.
Read moreAuto OEMs And Auction Houses Are Colluding To Prop Up Used Car Prices; It Won’t Work
American auto OEMs are panicked about the coming wave of lease returns and they’re apparently colluding with auction houses to help keep used prices higher for longer.
Read moreThe World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way
The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers. Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation. As the elite get governments around the globe in increasing amounts of debt, those governments must raise taxes in order to keep servicing those debts. In the end, it is all about taking money from us and transferring it into government pockets, and then taking money from government pockets and transferring it into the hands of the elite. It is a game that has been going on for generations, and it is time for humanity to say that enough is enough.
Read moreCentral Banks Are Driving Many to Cryptocurrencies
The experimental and destructive monetary policies of central banks are driving many to flee to cryptocurrencies in hopes of finding some stability.
Read more“Try Before You Buy”: Amazon Launches Assault On Clothing Retailers With Prime Wardrobe [VIDEO]
On Tuesday, in its attempt to corner the last elusive space of the retail market – clothing – Amazon announced the launch of Prime Wardrobe, “A New Fashion Platform” which will be included in current and future Prime memberships, Amazon said on its website. Essentially Prime Wardrobe will allow users to try clothes on before they buy and receive discounts.
Read moreRemember When Ford ‘Cancelled’ That Plant In Mexico? Well, They’ve Just Moved It To China
Trump’s victory lap back in January after Ford cancelled plans for a brand new $1.6 billion production facility in Mexico may have been premature. As it turns out, per a press release from earlier this morning, one of the first strategic actions taken by Ford’s new CEO, Jim Hackett, will be to relocate the company’s ‘Focus’ production to China rather than Mexico.
Read moreCredit Card Defaults Surge Most Since Financial Crisis
The steep increase in credit card defaults in 1Q’17 and 4Q’16 was the largest since 2009, according to a report by Moody’s, which suggests that the US consumer is getting progressively weaker and is unable to support the spending needed to keep the US economy afloat.
Read moreAfter Legalizing Weed, Unemployment In Colorado Has Collapsed To Record Lows
Three years after legalizing cannabis, Colorado has the lowest unemployment rate in the country. According to Governor John Hickenlooper, multiple factors have contributed to Colorado’s job growth, including the state’s business-friendly policies and the state’s very low business tax rate. One of the main factors in Colorado’s successful economy, however, is undeniably the cannabis industry.
Read moreIs This China’s Next Step To Destroy The Dollar?
If this China-Saudi deal happens – yuan for oil – it’s another step closer to the grave for the petrodollar, which has dominated global finance since 1974.
Read more93% Of All Jobs “Created” Since 2008 Were Added Through The Birth/Death Model
Headlines blast that the US has enjoyed 80 months of continuous jobs growth with unemployment hitting 4.3% – the lowest since 2001. However, there is more to this “strong” number than meets the untrained eye.
Read moreCapitalism Is About Working Less to Earn More
If working is the price we pay to obtain things we want, then economic progress has always consisted of decreasing this price thanks to perpetual productivity growth.
Read moreIs Bitcoin Standing In For Gold?
Recently, the price of a Bitcoin has skyrocketed. Two explanations suggest themselves…
Read moreUS Household Debt Surpasses 2008 High, Hits Record $12.7 Trillion
“Almost nine years later, household debt has finally exceeded its 2008 peak. This record debt level is neither a reason to celebrate nor a cause for alarm. But it does provide an opportune moment to consider debt performance,” said Donghoon Lee, Research Officer at the New York Fed.
Read moreHere’s Why You’ll Pay Higher Gas Prices Whatever The Market
The average gasoline tax in the U.S. is 49.5 cents per gallon, according to data from the American Petroleum Institute. That’s not too bad as far as averages go, but it has been climbing over the last five years and it will continue rising as states lose hope that the federal government will chip in for infrastructure construction and maintenance, and transportation.
Read more“Flood Of Off-Lease Vehicles” Set To Wreak Havoc On New Car Sales
“The automakers have flooded the market…”
Read moreUS Oil Rig Count Rises For 17th Straight Week As Crude Production Nears Record Highs
For the 17th week in a row (longest stretch in 6 years), the number of US oil rigs rose (by 9 to 712). This is the highest since April 2015 as US Crude production follows its lead to within 2% of record highs…
Read more“The Crisis Has Become Pandemic” – System To Collect Defaulted Student Loans Is No Longer Functioning
The system used by the Dept. of Education to collect on defaulted student loans came to a standstill in the last month, leaving an estimated 91,000 accounts in limbo, when the agency ordered debt collectors under contract to stop making collections on accounts. Consumers who expected their student loan payments to be deducted from their bank accounts this month have reportedly found the funds untouched, and their calls to the companies unanswered thanks to a Department of Education’s order prohibiting the debt collection companies from working on default accounts in response to two lawsuits against the agency.
Read moreVisualizing America’s Retail Apocalypse
So far we’ve seen roughly 3,000 store closings announced in 2017, and Credit Suisse estimates that could hit 8,600 by the end of the year. That would easily surpass 2008’s total, which was 6,200 closings, to be the worst year in recent memory…
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