Keyword: economy

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  • World Offers Cautionary Tale for Trump’s Infrastructure Plan

    06/26/2017 11:14:16 AM PDT · by Tolerance Sucks Rocks · 20 replies
    The New York Times ^ | June 16, 2017 | Peter S. Goodman
    LONDON — The rest of the planet bears a warning for President Trump’s plan to lean heavily on private business in conjuring a trillion dollars’ worth of American infrastructure: Handing profit-making companies responsibility for public works can produce trouble. In India, politically connected firms have captured contracts on the strength of relationships with officialdom, yielding defective engineering at bloated prices. When Britain handed control to private companies to upgrade London’s subway system more than a decade ago, the result was substandard, budget-busting work, prompting the government to step back in. Canada has suffered a string of excessive costs on public...
  • It’s going to end ‘extremely badly,’ with stocks set to plummet 40% or more {TR}

    06/25/2017 6:11:36 PM PDT · by SkyPilot · 68 replies
    CNBC ^ | 24 Jun 17 | Stephanie Landsman
    If the man often hailed as the original "Dr. Doom" is right, the stock market could see another "lurch" higher — at which point investors may want to cash out quickly and run for cover. Marc Faber, the editor of "The Gloom, Boom & Doom Report' and a perennial bear, isn't backing down from his latest dire prediction that would send stocks plummeting by 40 percent or more. A drop of that size could take the S&P 500 Index down from Friday's closing price of 2,438 to 1,463. He used the meteoric rise of FANG stocks, which reflects Facebook, Apple,...
  • Carrier workers facing layoffs feel betrayed by Trump

    06/25/2017 2:27:19 PM PDT · by Angels27 · 73 replies
    A promise made before Christmas is fizzling before the Fourth of July. In December, then-President-elect Trump told hundreds of workers at the Carrier manufacturing plant that he had worked out a deal to save their jobs. But it's not working out that way. A steady downpour today did little to wash away the fact that the jobs of 600 union employees are going south. "They're going to Monterrey, Mexico," said Robert James, president of the local union. Reynolds said he felt betrayed, since Mr. Trump told workers during his December visit to the plant that 1,100 jobs would be saved....
  • Why pensions are set to eat the city budget

    06/25/2017 2:19:19 PM PDT · by HarleyLady27 · 34 replies
    New York Post ^ | June 25, 2017 | Post Editorial Board
    Disgusted with the subway? Well, chew on this: Since 2014, the city has forked over more to its pension funds than it has for building and repairing schools, parks, bridges and, yes, subways — combined. In fact, the city’s current predicament is the result of benefit increases that state lawmakers have showered on retired city workers. The pension sweeteners added just in 2000 alone cost the city $13 billion over the next 10 years. These two factors (over-optimistic assumptions and ever-greater benefits) are why the city’s yearly contribution to the funds has had to mushroom nearly sevenfold, from $1.4 billion...
  • Fake News: Stephanopoulos Claims Senate Bill Cuts Medicaid by $800 Billion

    06/25/2017 11:33:53 AM PDT · by Kaslin · 43 replies
    Newsbusters.org ^ | June 25, 2017 | Nicholas Fondacaro
    After Senate Republicans unveiled their ObamaCare replacement on Thursday, ABC smeared the bill during World News Tonight with claims that people were going to pay more for less and that Medicaid was being cut. On Sunday, Clinton lackey George Stephanopoulos took to his show, This Week to continue their smear campaign. “The President right there said no cuts in Medicaid … Why is the President going back on his promise,” he rudely yelled at Trump adviser Kellyanne Conway. According to Stephanopoulos, “A lot of senators have questions about the Senate bill. Particularly those cuts in Medicaid. More than $800 billion.”...
  • Modi-Trump meet: Why I have low expectations

    06/24/2017 2:56:02 PM PDT · by Jyotishi · 9 replies
    Rediff.com ^ | Saturday, June 24, 2017 | Rajeev Srinivasan
    Here's why Rajeev Srinivasan believes there will be nothing particularly positive about the prime minister's US visit. IMAGE: The fact that it has taken this long for the US to extend an invitation to Narendra Modi suggests that India is not on Donald Trump's event horizon. Photographs: Peter Nicholls/Getty Images and Carlos Barria/Reuters Prime Minister Narendra Modi is not naive, so he is surely approaching his fifth visit to the United States, and his first meeting with US President Donald Trump with careful preparation. He is also deliberately creating low expectations. Unlike the hoopla of his previous Madison Square Gardens...
  • US will need India to counter China: US think tank

    06/23/2017 10:20:20 PM PDT · by Jyotishi · 10 replies
    The Pioneer ^ | Friday, June 23, 2017 | Press Trust of India
    Washington -- Even as the Trump administration is cosying up to the Chinese, the US will need India to counter Beijing's growing influence in the world, a top American think-tank has said. Describing India as a "key piece in the jigsaw" for the US, the Atlantic Council urged the Trump administration to prioritise its ties with New Delhi. "Given the advancements that China has made both economically and militarily, the US will need to channel considerable resources to assert its global and regional primacy," Atlantic Council, a top American think-tank said in a policy paper 'Transforming India from a Balancing...
  • The infrastructure myth

    06/21/2017 9:49:28 PM PDT · by Tolerance Sucks Rocks · 16 replies
    The Lagniappe Weekly ^ | June 21, 2017 | Jeff Poor
    Throughout the 2016 campaign and into the early stages of his presidency, Donald Trump vowed to make infrastructure improvements around the country. The promise was all part of his brand of populism — spend more money domestically and less abroad. America first. “We need members of both parties to join hands and work with us to pass a $1 trillion infrastructure plan to build new roads and bridges and airports and tunnels and highways and railways all across our great nation,” Trump pledged at a campaign rally in Melbourne, Florida, earlier this year. Given Trump’s Russia investigation toxicity, it will...
  • The Politics of Professional Procrastination…

    06/21/2017 2:14:35 PM PDT · by HarleyLady27 · 11 replies
    The Conservative Tree House ^ | June 21, 2017 | Sundance
    Making America Great Again continues to run up against the reality of DC UniParty roadblocks. Both Democrats and Republicans are procrastinating while hoping for any excuse not to participate in America-First policy advancement. The election result in Georgia’s sixth district is yet another example of Trump supporters removing excuses the DC UniParty puts forth; yet the DC apparatus is so entrenched in their opposition to President Trump’s policy agenda, they sit idle spinning various congressional hearings-to-nowhere in an increasingly transparent effort to avoid action.
  • Murphy: Democrats Have Been ‘Hyper-Confused’ on Economic Issues for Years

    06/21/2017 9:52:47 AM PDT · by ForYourChildren · 21 replies
    Washinton Free Bacon ^ | 06/21/2017 | Cameron Cawthorne
    Sen. Chris Murphy (D., Conn.) said on Wednesday that Democrats have been "hyper-confused" on economic issues for years. Harold Ford, Jr., an MSNBC contributor and former Democratic congressman, asked Murphy on "Morning Joe" about the Democrats' future economic message going into the 2018 midterm elections. "I think we have to challenge ourselves," Murphy said. " I think we've been hyper-confused over the course of the past five years. Some of the time we are talking about economic growth. Some of the of the time we are talking about economic fairness." Murphy added that he does not know whether Democrats have...
  • Fast Growth, and Lots of It, Is Right Around the Corner

    06/20/2017 8:12:49 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | June 20, 2017 | Stephen Moore
    Every day, legions of economists dismiss Donald Trump's economic agenda and forecast of 3 percent growth as a wild-eyed fantasy. The consensus is that the economy "can't possibly grow at 3 percent," according to The Wall Street Journal. "Slow growth is the new norm, so get used to it," wrote Rucir Sharma, chief global strategist at Morgan Stanley, in Foreign Affairs magazine this month. Question: Why does anyone bother to listen to economists anymore? The profession has become an embarrassment, and the most respected economists have shown themselves to have as much predictive power as a deck of tarot...
  • It’s Time To Break Up Amazon

    06/20/2017 6:59:59 AM PDT · by Callahan · 179 replies
    Fast Company ^ | 6/20/17 | Douglas Rushkoff
    “Amazon just bought Whole Foods,” my friend texted me seconds after the announcement of the proposed acquisition. “It’s over. The world.” This unease is widespread, and has raised new calls for breaking up Jeff Bezos’s impending monopoly by force. Surely the company, which now generates 30% of all online and offline retail sales growth in the United States, and already controls 40% of internet cloud services, has reached too far. The 3% hike in Amazon’s share price since the announcement—which would alone more than pay for the acquisition—may attest less to the deal’s appropriateness than to investors’ growing fear that...
  • In Rural America, Lack of Jobs Is Deepest Concern Facing Community

    06/19/2017 10:13:58 PM PDT · by 2ndDivisionVet · 9 replies
    The Washington Free Beacon ^ | June 19, 2017 | Ali Meyer
    Lack of jobs is the deepest concern facing communities in rural America, according to a poll from the Kaiser Family Foundation. President Trump carried rural areas in 2016, and the foundation wanted to understand the experiences and political views of individuals in these areas. For this study, researchers polled voters in Ashtabula County in Ohio. Fifty-four percent said they approve of Trump’s handling of his job compared with 40 percent who said they disapproved. Fifty-one percent of rural voters were confident that Trump's policies would create jobs, 57 percent said they believed his policies would keep the country safe from...
  • Interior head says public lands can make U.S. a 'dominant' oil power

    06/19/2017 9:02:27 PM PDT · by 2ndDivisionVet · 14 replies
    Reuters ^ | June 19, 2017 | Valerie Volcovici
    Boosting drilling and mining on America's protected federal lands can help the United States become not just independent, but "dominant" as a global energy force, according to Interior Secretary Ryan Zinke, whose agency manages about one-fifth of U.S. territory. In an interview with Reuters, Zinke outlined his approach to development and conservation in America's wildest spaces, and discussed how that philosophy was guiding his review of which national monuments created by past presidents should be rescinded or resized to make way for more business. "There is a social cost of not having jobs," the former Montana Congressman and Navy Seal...
  • Market Volatility Has Vanished Around the World

    06/19/2017 7:34:06 PM PDT · by jonno · 25 replies
    As Wall Street’s ‘fear gauge’ nears all-time lows, one commonly used measure shows Asian equities near their least volatile this century. The calm that has descended on U.S. financial markets is stretching around the world. Based on one commonly used measure, Asian equities are near their least volatile this century—a byproduct of improving corporate earnings, stabilizing economic growth and the diminishing impact of geopolitical events on markets. In the U.S., Wall Street’s “fear gauge” is near all-time lows, and in Europe, volatility has also largely subsided.
  • What Was The Worst Interview You Ever Had?

    06/19/2017 2:21:22 PM PDT · by Eagles Field · 58 replies
    6-19-17 | Eagles Field
    I Shook Hands With Hitler Reincarnation Today And I think I saw Vincent Price peering out of the corner, quick to be out of sight hiding from me. But I saw him. Met the vacant eyes of Bela Lugosi passing in the bathroom. Eerie organ music played as I entered the doors for my interview. Had a nice conversation with a woman who’d, I imagine, takes classes in incompetency. They’re very interested in me and want to explore the next level in the process. She mentioned a few caveats, shrugged at the facts that there were 2 meetings a day,...
  • These 7 Disruptive Technologies Could Be Worth Trillions of Dollars

    06/19/2017 12:28:42 AM PDT · by 2ndDivisionVet · 14 replies
    Singularity Hub ^ | June 16, 2017 | Jason Dorrier, Managing editor
    Scientists, technologists, engineers, and visionaries are building the future. Amazing things are in the pipeline. It’s a big deal. But you already knew all that. Such speculation is common. What’s less common? Scale. How big is big? “Silicon Valley, Silicon Alley, Silicon Dock, all of the Silicons around the world, they are dreaming the dream. They are innovating,” Catherine Wood said at Singularity University’s Exponential Finance in New York. “We are sizing the opportunity. That's what we do.” Wood is founder and CEO of ARK Investment Management, a research and investment company focused on the growth potential of today’s disruptive...
  • In Latest Sign of Crude Glut, Ageing Supertankers Used to Store Unsold Oil

    06/18/2017 11:06:57 AM PDT · by Oatka · 26 replies
    Reuters via gCaptain ^ | June 16, 2017 | Keith Wallis and Henning Gloystein
    [Reuters] Traders are increasingly storing oil in ageing supertankers in Southeast Asia as they grapple with a supply overhang that has left the system clogged with unneeded fuel despite an OPEC-led drive to cut production to prop up prices. Around 10 very large crude carriers (VLCCs), all between 16 and 20 years old, have been chartered since the end of May to store crude for periods ranging from 30 days to around six months, brokers told Reuters. Each VLCC can carry 2 million barrels of oil.
  • For Father's Day - Grateful for an Old-School Dad

    06/18/2017 5:59:36 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | June 18, 2017 | Tom Purcell
    My father made me wear hand-me-downs - even though I was our family's only boy, with five sisters. It wasn't too bad most of the year, but Easter Sunday was a bear. You know how hard it is to outrun the neighborhood bully with your panty hose bunching up and your bonnet flopping in the wind? My father was born during the Depression, in 1933, when life was a lot tougher. When he was only 3, his father, who had a good job working for the Mellon family, died at age 34. My father and his sister and mother moved...
  • Restaurant die-off is first course of California’s $15 minimum wage

    06/17/2017 10:21:01 AM PDT · by HarleyLady27 · 86 replies
    The Fresno Bee ^ | June 13, 2017 | Jeremy Bagott
    In a pair of affluent coastal California counties, the canary in the mineshaft has gotten splayed, spatchcocked and plated over a bed of unintended consequences, garnished with sprigs of locally sourced economic distortion and non-GMO, “What the heck were they thinking?” The result of one early experiment in a citywide $15 minimum wage is an ominous sign for the state’s poorer inland counties as the statewide wage floor creeps toward the mark. Consider San Francisco, an early adopter of the $15 wage. It’s now experiencing a restaurant die-off, minting jobless hash-slingers, cashiers, busboys, scullery engineers and line cooks as they...