Latest Articles: Economy
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GM to halt production at 5 plants in U.S. and Canada, cutting up to 14K jobs
Post Date: 2018-11-26 16:43:09 by hondo68
DETROIT General Motors will lay off up to 14,000 factory and white-collar workers in North America and consider closing up to five major plants as the auto giant restructures to cut costs and focus more on electric vehicles and autonomous cars. The company-wide restructuring was announced Monday.GM said it would halt production at three assembly plants: Lordstown Assembly in Warren, Ohio; Detroit-Hamtramck Assembly in Michigan and Oshawa Assembly in Ontario, Canada. It also plans to close transmission plants next year in White Marsh, Maryland, and Warren, Michigan, the company said in a news release.Most of the affected factories build cars that won't be sold in ...
Capitalism Is Being Rejected by Young Americans in Huge Numbers
Post Date: 2018-08-14 09:53:17 by Willie Green
In the two years since Senator Bernie Sanderss campaign for president, the image of capitalism among young Americans has taken a dramatic hit, a new poll has indicated. Less than half, 45 percent, of Americans aged between 18 and 29 have a positive view of capitalism, according to a Gallup poll released Monday.When Sanders, a self-identified socialist, challenged Hillary Clinton for the Democratic nomination for president two years ago, the figure stood at 57 percent, up 1 percent from 2012 but down 11 from 2010. For the first time, more young Americans now have a positive view of socialism than they do capitalism, even as support for socialism among the group has remained steady at ...
Trump suggests no tariffs between US, Europe
Post Date: 2018-07-25 04:52:34 by XDMAR
It is tariff day in Washington. President Trump will meet with European officials to talk trade tariffs. The meeting is with European Commission President Jean-Claude Juncker. Trump proposed in a tweet, that both sides drop all tariffs, barriers and subsidies. Trump, although doubts the Europeans will go for the idea. The tweet said: "That would finally be called Free Market and Fair Trade! Hope they do it, we are ready - but they won't!"
Americans Going On Vacation For The First Time in Decades
Post Date: 2018-07-13 00:46:45 by Tooconservative
Americans are going on vacation in droves for the first time in years, thanks to the booming Trump economy. For instance, this Independence Day, a record number of Americans were able to travel away from home. AAA predicted that nearly 47 million Americans would travel 50 miles or more to celebrate Americas birthday. That is a 5 percent increase from the previous year, and the highest number for the holiday since AAA started tracking the data 18 years ago. This record number, despite a recent spike in gas prices, reveals just how strong the economy has become under President Trumps leadership, while reflecting unprecedented confidence in the economys future growth. ...
Trump Is Cutting Off Big Labor From Skimming Americans' Medicaid Payments And Unions Are Furious
Post Date: 2018-07-11 10:13:32 by Tooconservative
The Service Employees International Union (SEIU) is blistering at a proposed regulation that would prevent the union from siphoning fees from American workers Medicaid payments. The Centers for Medicare and Medicaid Services announced a proposed rule Tuesday that would require Medicaid payments to go directly to healthcare workers, ending a 2014 Obama-era rule that let third parties, such as unions and insurance companies, skim off a share of the paycheck before the worker saw any of it. The SEIU, one of the largest public-sector unions in the U.S., referred to the proposed rule as part of the [Trump] administrations broad, coordinated attack against working people. ...
Rolling on: Jobs market maintains momentum at 213K added
Post Date: 2018-07-06 11:11:31 by Tooconservative
Economic growth continued in the US to close out the second quarter, boosting employment while wages still lag. The US jobs market performed better than expected in June, adding 213,000 jobs during the month and beating market guesses on the expansion. The Bureau of Labor Statistics Household survey continued to show problems in their data collection, however, leading to more wild swings in labor-force numbers: Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in professional and business services, manufacturing, and health care, while retail trade lost ...
Blue-Collar Wages Rising in Red-Hot Economy
Post Date: 2018-07-05 13:05:00 by Tooconservative
Labor shortages are raising wages in a variety of blue-collar jobs, says Glassdoor, a recruitment and wage-tracking company. With the economy running hot, were finally starting to see pay raises for many of Americas lowest-paying jobs, said a July 2 statement from the firm: According to data from Glassdoor, jobs with the fastest pay growth in June included e-commerce roles such as warehouse associate (up 6.8 percent to $43,961 per year), material handler (5.1 percent to $36,179 per year) and truck driver (up 7.3 percent to $54,659 per year), as well as several lower-paying jobs including retail key holder (4.9 ...
Even before tomorrow’s jobs report, Americans feel good about getting a good one
Post Date: 2018-07-05 10:36:15 by Tooconservative
The new jobs report for June comes out Friday. If its anything like the May report 223,000 new jobs and a reduced unemployment rate of 3.8 percent it will be good news for the economy, workers and the stock market, showing signs of a strongly growing economy. Economists predict the June numbers should come in just under 200,000 new jobs. The May numbers were particularly remarkable for blacks. They showed unemployment among African Americans was 5.9 percent, a full percentage point drop in just two months. But even before the new numbers are released, Americans especially Republicans remain strongly positive about the economy under President Trump. A new ...
US pig farmers brace for new pork tariffs from China, Mexico
Post Date: 2018-07-04 13:25:25 by Willie Green
U.S. pork producers are about to be bitten by a second batch of hefty retaliatory tariffs from China and Mexico and that has some large producers predicting they could lose big money and be forced to invest overseas. Executives say the pork industry has been expanding in recent years, in part on the expectation of export opportunities that would continue to support growth. However, the threat of a trade war is adding uncertainty and driving fear. One in 4 hogs raised in the U.S. is sold overseas, and the Chinese are the world's top consumers of pork. "We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in the ...
Farmers in America are killing themselves in staggering numbers
Post Date: 2018-06-26 09:32:37 by Willie Green
"Think about trying to live today on the income you had 15 years ago." That's how agriculture expert Chris Hurt describes the plight facing U.S. farmers today.The unequal economy that's emerged over the past decade, combined with patchy access to health care in rural areas, have had a severe impact on the people growing America's food. Recent data shows just how much. Farmers are dying by suicide at a higher rate than any other occupational group, according to the Centers for Disease Control and Prevention. The suicide rate in the field of farming, fishing and forestry is 84.5 per 100,000 peoplemore than five times that of the population as a whole. ...
Disability Applications Plunge as the Economy Strengthens
Post Date: 2018-06-20 09:12:32 by misterwhite
The number of Americans seeking Social Security disability benefits is plunging, a startling reversal of a decades-old trend that threatened the programs solvency. It is the latest evidence of a stronger economy pulling people back into the job market or preventing workers from being sidelined in the first place. The drop is so significant that the agency has revised its estimates of how long the program will continue to be financially secure. This month, the government announced that the program would not run out of money until 2032, four years later than its previous estimate last year. Two years ago, the government had warned that the funds might be depleted by 2023. In addition ...
Wealthy Asians Are Getting Richer Faster Than Anyone Else
Post Date: 2018-06-19 09:22:30 by Willie Green
Wealth assets held by high-net-worth individuals in the Asia-Pacific region jumped almost 15 percent to $21.6 trillion in 2017, according to a Capgemini SE report released Tuesday. Accelerating economic growth and equity market rallies helped push the global total to a record $70.2 trillion, the World Wealth Report showed.The rising number of millionaires in Asia is prompting financial firms from Credit Suisse Group AG to DBS Group Holdings Ltd. to expand private banking operations throughout the region. While Japan and China contributed the bulk of Asias wealth last year, India topped the global chart when it came to the growth rate. Emerging markets in Asia, such as China and ...
Why the Only Answer is to Break Up the Biggest Wall Street Banks
Post Date: 2018-06-11 03:28:45 by A Pole
On Wednesday, Federal bank regulators proposed to allow Wall Street more freedom to make riskier bets with federally-insured bank deposits such as the money in your checking and savings accounts. The proposal waters down the so-called Volcker Rule (named after former Fed chair Paul Volcker, who proposed it). The Volcker Rule was part of the Dodd-Frank Act, passed after the near meltdown of Wall Street in 2008 in order to prevent future near meltdowns. The Volcker Rule was itself a watered-down version of the 1930s Glass-Steagall Act, enacted in response to the Great Crash of 1929. Glass-Steagall forced banks to choose between being commercial banks, taking in regular ...
Percentage of World Debt by country
Post Date: 2018-06-08 04:42:02 by A Pole
Sh*tshow!: The Country's Collapsing and the Ratings Are Great --- book by Charlie LeDuff
Post Date: 2018-06-05 21:37:25 by tpaine
Sh*tshow!: The Country's Collapsing and the Ratings Are Great by Charlie LeDuff The Insanity of Daily Life in America Reporters are privileged. They get to talk to people in the street and at their homes. No one else can do that. They get to query politicians and corporate executives. They get to talk to the actors in standoffs, protests and riots. They visit people 20 years after their 15 minutes of fame in some crime or incident. They find out things that others cant even imagine. And they have a platform to tell the world about it all. Unfortunately, television news reporters like Charlie LeDuff then distill it down to a formulaic minute and a half, glossing over the truth ...
Black unemployment rate hits a record low
Post Date: 2018-06-02 15:37:35 by Justified
The black unemployment rate fell to 5.9% in May the lowest since the government started keeping track in 1972. It's a notoriously volatile number, but the trend is clear: This economy is strong, and everyone is reaping the rewards. "The jobs market is firing on all pistons. It is benefiting all workers," said Tony Bedikian, head of global markets at Citizens Bank. "There are more jobs to be had for all Americans." As the overall unemployment rate continues to fall the lowest since 2000 it's also shrinking the gap between black and white unemployment. It is the narrowest on record. Black unemployment dropped sharply last month, down from ...
Monopoly Capitalism: At The Breaking Point?
Post Date: 2018-04-28 09:23:12 by A Pole
Start at 2:00 minute. Click for Full Text!
You won’t believe what tax reform will cost wealthy Californians in 2019
Post Date: 2018-04-18 09:31:53 by Tooconservative
Lots of people just talk about soaking the rich, but Donald Trump and the GOP actually did it in California, anyway, although they wont be alone. The controversial phase-out of the state and local tax deduction (SALT) will drop like a bombshell on high-tax-rate blue states, which is one reason why Democrats so staunchly opposed it. According to an analysis from Californias Franchise Tax Board, the Golden State will be Ground Zero: President Donald Trumps tax cuts will be anything but for about 1 million California taxpayers who will owe Uncle Sam more money a year from now. Theyre the Californians who will lose a collective $12 billion because the new law ...
The Richest 1% Will Own Two-Thirds Of Global Wealth By 2030, Report Finds [Full Thread]
Post Date: 2018-04-11 09:43:51 by Deckard
Back in November, Credit Suisse highlighted an alarming - yet altogether unsurprising - milestone in the increasing concentration of global wealth that has been perhaps the most influential force behind the populist revolts that rocked the US in 2016 and have continued to unfurl across Europe. According to the Swiss bank's annual "global wealth pyramid," for the first time, the wealthiest 1% of the world's population had accumulated more than half of its aggregate household wealth. Credit Suisse's researchers describe in stark terms how global wealth inequality had actually improved somewhat in the years between the start of the new millennium and the financial crisis ...
The Omnibus Spending Bill Is a Fiscal Embarrassment
Post Date: 2018-03-22 09:46:58 by Deckard
Republicans prove yet again why they deserve to be labeled the biggest swamp spenders.Republicans are once again proving why they actually deserve the label of the biggest swamp spenders. The latest gigantic omnibus spending bill would fund the government for the remainder of the fiscal yearwith a price tag of $1.3 trillion. That doesn't include entitlement funding or payments for the interest on our debtwhich continue to grow and drive our debt higher, as Republicans have apparently given up on slowing down spending. Most Republicans favor the bill as a way to avoid the self-inflicted risk of another government shutdown. Never mind that members have had no time to read the ...
Is The U.S. Economy Really Growing? (No) [Full Thread]
Post Date: 2018-03-17 21:49:33 by hondo68
Most people are aware that GDP growth has been lower than expected in the aftermath of the Global Financial Crisis of 2008 (GFC). For example, real GDP growth for the past decade has been closer to 1.5% than the 3% experienced in the 50 years prior to 2008. As a result of the combination of slow economic growth and deficit spending, most people are also aware that the debt/GDP ratio has been rising. However, what most people dont know is that, over the past ten years, the dollar amount of cumulative government deficit spending exceeded the dollar amount of GDP growth. Put another way, in the absence of deficit spending, GDP growth would have been less than zero for the past decade. ...
Paul Ryan Will Hate This=> US Aluminum Manufacturer Announces 300 New Jobs in Kentucky Following Trump’s Tariff Announcement
Post Date: 2018-03-07 00:41:19 by 3-Dee
Paul Ryan Will Hate This=> US Aluminum Manufacturer Announces 300 New Jobs in Kentucky Following Trumps Tariff Announcement Speaker Paul Ryan pushed back against President Donald Trumps announcement to place tariffs on foreign aluminum and steel. Paul Ryan, a renowned globalist who joined President Obama in pushing the Trans-Pacific Partnership, attacked President Trump on Monday for his announcement to place tariffs on foreign steel and aluminum. Paul Ryan still has NO INTENTION of passing the Trump agenda more than a year after his stunning win over Hillary Clinton. Paul Ryan came out again on Tuesday and slammed President Trumps plan to tax aluminum and steel ...
Against Trump's Tariffs
Post Date: 2018-03-06 00:55:01 by hondo68
The Trump administration has announced it plans to raise taxes on Americans in the form of tariffs. On Thursday, the president promised steel and aluminum executives that he would protect them against foreign competition by levying tariffs on both metals in the coming weeks: 25 percent on steel and 10 percent on aluminum. The effect of tariffs will be to impose a higher tax burden on Americans, while increasing the cost of living, and the costs imposed on entrepreneurs using the taxed materials.For centuries, economists have examined and explained the negative consequences of tariffs. And for more than a century, the economists of the Austrian school have added even more sophisticated and ...
Here’s why the Dow took the Trump tariffs so hard
Post Date: 2018-03-02 19:08:24 by buckeroo
Add trade tensions and the threat they pose to economic growth to the list of worries that were already dogging stock-market investors in 2018. President Donald Trumps announcement Thursday that he was set to impose tariffs on aluminum and steel imports sent stocks tumbling. Weakness continued Friday morning, with stocks opening sharply lower before rebounding off lows, with the S&P 500 SPX, +0.51% taking back some of the previous days decline while the Dow DJIA, -0.29% ended lower for a fourth straight session. While underlying fundamentals remain strong, investors said the threat of a trade war adds another layer of uncertainty to existing concerns about inflation and ...
Deutsche Bank: This Does Not Make Sense
Post Date: 2018-02-26 11:03:10 by VxH
... According to Reid, "notwithstanding the short-term low supply expectations in Europe, a real head-scratcher going forward is how the market will cope over the years and even decades to come with the central case scenario of higher and higher government debt around the world. Figure 13 looks at the US, Germany and Japan government debt/GDP with forecasts from the US CBO and BIS. ---
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