Tag Archives: economy

LIES UPON LIES UPON LIES: Trump Takes Credit For 5000 Sprint Jobs Which Were Announced Back In April

Salon reports: Donald Trump is taking credit for a jobs deal that he objectively had nothing to do with. The president-elect bragged on Wednesday about brokering a deal in which Sprint will bring 5,000 jobs to the United States and another company, OneWeb, will bring 3,000 jobs into this country. This is consistent with a theme that Trump has been …

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The Super-Rich Got Super-Richer In 2016

Bloomberg reports: In a year when populist voters reshaped power and politics across Europe and the U.S., the world’s wealthiest people are ending 2016 with $237 billion more than they had at the start. Triggered by disappointing economic data from China at the beginning, the U.K.’s vote to leave the European Union in the middle and the election of billionaire …

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Trump Team Floats Trade Tariffs

CNN reports: The Trump transition team is floating the possibility of an early executive action to impose tariffs on foreign imports, according to multiple sources. Such a move would deliver on President-elect Donald Trump’s “America First” campaign theme. But it’s causing alarm among business interests and the pro-trade Republican establishment. The Trump transition team didn’t immediately respond to a request …

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Strong Economy Spurs Fed To Hike Interest Rates

Reuters reports: The U.S. Federal Reserve raised interest rates by a quarter point on Wednesday and signaled a faster pace of increases in 2017 as the Trump administration takes over with promises to boost growth through tax cuts, spending and deregulation. The rate increase, regarded as a virtual certainty by financial markets in the wake of a string of generally …

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FAREWELL FREE MARKET: Trump Vows To Impose 35% Tax On US Goods Made In Overseas Factories

Roll Call reports: Donald Trump on Sunday morning tweeted that he intends to slash business taxes and regulations, but the early rising president-elect again warned companies that move all or parts of their operations offshore will face “retribution or consequence.” In a series of tweets that kicked off at 6:41 a.m., Trump said he will impose “a tax on our …

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Unemployment Rate Tumbles To 9-Year Low

Yahoo Finance reports: In a stunning development, the Bureau of Labor Statistics just revealed that the US unmployment rate unexpectedly dropped to 4.6% in November. This is the lowest level since August 2007. Economists were expecting the rate to be unchanged from October at 4.9%. During the month, US companies added 178,000 non farm payrolls, which was a tad lighter …

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CHINA: Government Threatens To Stifle Sales Of iPhones And US Goods If Trump Launches Trade War

The Guardian reports: US president-elect Donald Trump would be a “naive” fool to launch an all-out trade war against China, a Communist party-controlled newspaper has claimed. During the acrimonious race for the White House Trump repeatedly lashed out at China, vowing to punish Beijing with “defensive” 45% tariffs on Chinese imports and to officially declare it a currency manipulator. “When …

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Unemployment Dips In Final Pre-Election Report

CNN Money reports: America’s economy stayed on track before the U.S. election. The U.S. economy added 161,000 jobs in October, a solid gain, yet below the 191,000 jobs added in September, according to the Labor Department. It is the last look at the health of the economy for Americans voters before they cast their ballots. Unemployment fell a tick to …

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GDP Hits 2.9% In Biggest Gain Since 2014

Good news for Hillary in the final days of the campaign. MarketWatch reports: The U.S. economy grew in the third quarter at the fastest pace in two years, aided by a surge in exports and a rebound in the size of inventories companies keep on hand for sale. The government said gross domestic product, the official scorecard for the economy, …

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BRITAIN: Post-Brexit Travel Within European Union Likely To Require Visa Application And £40 Fee

The Independent reports: Families were warned of a possible £40 ‘holiday tax’ to travel to the EU as the price of Brexit, after a bombshell Government admission. Home Secretary Amber Rudd revealed that a Brussels scheme that would require permission to be granted – and a fee paid – before departure could be adopted, saying “We don’t rule it out.” …

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US Census: Median Income Rises, Poverty Rate Dips

The Los Angeles Times reports: Steady job growth and the biggest earnings boost on record helped sharply lower the nation’s poverty level last year and finally provided relief to the long-running problem of stagnant incomes. In its annual report on income and poverty, the Census Bureau said Tuesday that the share of people in the U.S. living in poverty dropped …

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Macy’s To Close 100 Stores Due To Online Shopping

CNN Money reports: Macy’s announced plans on Thursday to close about 15% of its department stores, the latest effort to adapt to shifting consumer preferences for online shopping. Macy’s did not disclose which stores it will close, but said most of them will close in early 2017. The move comes as Macy’s revealed its second-quarter sales fell less than feared. …

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McCrory Flack: Don’t Believe The Lies, North Carolina’s Anti-LGBT Hate Law Hasn’t Hurt The Economy

Dozens of canceled conventions, boycotts from more than a dozen states and major cities, and no more NBA All-Star game. That’s just for starters. But nope, not a scratch on the economy says the budget director for North Carolina Gov. Pat McCrory. From his op-ed in the Charlotte Observer: One of the benefits of being the Budget Director is that …

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Bill Maher Compares Financial Result Of States Under Democratic Control: Scoreboard, Bitches [VIDEO]

The Huffington Post recaps: Bill Maher ripped into the GOP’s policy of cutting taxes for the rich on Friday night. The “Real Time with Bill Maher“ host said the state of California was proof that doing the reverse, and instead raising taxes on the most wealthy, could actually lead to a booming economy. The comedian gloated about how The Golden …

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BRITAIN: Brexit Voting Hampered By Bad Weather

MarketWatch reports: It’s raining cats and dogs in parts of the U.K., and that could be good news for Brexit backers. Torrential downpours and thunderstorms began hitting the south east of England late Wednesday, causing the U.K.’s Met Office to put out flood warnings just as Thursday’s referendum got underway to decide whether the U.K. should stay in the European …

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BRITAIN: “Leave” Side Takes Lead In New Brexit Polls

Reuters reports: The campaign for Britain to leave the European Union has taken a 4-5 percentage point lead ahead of a June 23 referendum, according to online polls by ICM and YouGov, sending sterling toward three-week lows against the U.S. dollar. The swing toward “Out” with less than three weeks to go comes as both sides step up their campaigning …

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The Economist Ranks Trump Presidency As One Of World’s Ten Greatest Risks To Financial Stability

The BBC reports: Donald Trump winning the US presidency is considered one of the top 10 risks facing the world, according to the Economist Intelligence Unit. The research firm warns he could disrupt the global economy and heighten political and security risks in the US. However, it does not expect Mr Trump to defeat Hillary Clinton who it sees as …

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US Economy Added 2.65 Million Jobs In 2015

#ThanksObama! The Washington Post reports: The U.S. economy finished the year with a red-hot hiring spree, adding 292,000 new jobs as the unemployment rate held steady at 5 percent, according to new government data released Friday morning. The latest jobs report exceeded the expectations of economists and investors and provided a reassuring note about the resiliency of the labor market, …

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Trump: Most Trusted On Economy & Immigration

While Donald Trump continues to hold a big lead in overall poll numbers, according to a new CNN/ORC poll he’s also the top choice in several issues categories. CNN reports: According to the poll, 45% say they trust Trump more than any other Republican candidate on the economy — up 25 points since June, 44% say they trust Trump over …

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New York City Might Freeze Rents

Via the New York Times: Possible rent increases this year for New York City’s rent-stabilized apartments will run up to 3.5 percent on two-year leases, with a possibility of a rent freeze also on the horizon for one-year leases, according to a vote by members of the Rent Guidelines Board. Facing a boisterous, sign-waving audience in a packed Midtown auditorium, …

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