Category: Business & Economy

After several rounds of tit-for-tat tariffs and retaliations between the US and China, American consumers are about to be hit with sharply higher prices as tariffs on industrial metals put pressure on U.S. manufacturers.

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.

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.

“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.”

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.