The Chinese got just what they wanted, but here in the United States it will be spun as a big win for Trump by the White House.
Today, the U.S. dollar is the world’s most powerful reserve currency, making up over 61% of foreign reserves. The dollar gets an extensive network effect from its use abroad, and this translates into several advantages for the multi-trillion dollar U.S. economy.
China’s decision to stop buying commodities like soybeans from U.S. farmers has already done irreversible damage to the agricultural industry. Soybeans are rotting in silos and farmers have no one to buy their goods – meaning they will likely begin missing payments if they haven’t already.
Many farmers continue to wait on the sidelines to get into the fields. With freezing temperatures, heavy snowfall, and high winds set to hit the northern Plains this week, the corn in North Dakota is only 22% mature vs. a 75% five-year average, according to Monday’s USDA Crop Progress Report.
The bad news is that a recession is likely in the next year or so, but the good news is that one year is a long time to prepare. There is little, if anything, you can do on your own to stop any kind of global economic meltdown. But you can get yourself prepared for what’s coming.
The subsidies that the U.S. government is providing to farmers to make up for lost sales to China are not making up dollar for dollar for the loss ... There’s still a difference between what the farmers could earn and did earn when there weren’t tariffs on their products going into China and what the U.S. government is paying them.”
Beyond the simple fact that a tax on meat would be yet another example of government overreach, there are other problems with a meat tax. It is also based on a subjective and dubious interpretation of the effects of meat on both the environment and on personal health. Such a tax would, like existing taxes on sugar and tobacco products, disproportionately impact the poorest Americans.
We are in the process of committing national financial suicide, and most Americans don’t seem to care. As you will see below, the federal budget deficit for the fiscal year that ended on September 30th was the largest in 7 years. In fact, it was actually 26 percent larger than last year. Federal spending is wildly out of control, and “non-discretionary spending” is projected to go through the roof in the years ahead. Under our current system, it is literally going to be impossible to turn things around. As the Baby Boomers continue to retire, the amount of resources demanded…
The repo market provides a means for banks that are temporarily short of cash to obtain short-term (usually one day) loans from other banks. The Fed’s interventions were a response to a sudden cash shortage that caused interest rates for these short-term loans to climb to 10 percent, far above the Fed’s target rate.
‘Young people are telling us that BP sponsorship is putting a barrier between them and their wish to engage with the RSC,’ said a spokesperson. The pomposity of this might be funny if it weren’t that BP has subsidised their £5 ticket scheme for 16 to 25-year-olds for eight years, allowing 80,000 young people to see RSC performances at reduced rates.
Earlier today, the President of the United States issued a warning to Turkey and European countries to keep track of their ISIS fighters. The tweet comes as the United States is pulling out of involvement in Syria, allowing Turkey to expand its influence over the north of the country, including Kurdish-controlled areas.
If you’ve ever flown cross-country in a window seat, chances are, the bright lights at night have caught your eye. From above, the world tells its own story—as concentrated pockets of bright light keep the world’s economy thriving. Today’s visualization relies on data compiled by CityLab researchers to identify the world’s largest megaregions. The team defines megaregions as: Areas of continuous light, based on the latest night satellite imagery Capturing metro areas or networks of metro areas, with a combined population of 5 million or higher Generating economic output (GDP) of over $300 billion, on a PPP basis The satellite imagery comes…
"The U.S. manufacturing purchasing managers’ index from the Institute for Supply Management came in at 47.8% in September, the lowest since June 2009, marking the second consecutive month of contraction. Any figure below 50% signals a contraction."
U.S. personal computer maker HP Inc said on Thursday it will cut up to 16% of its workforce as part of a restructuring plan aimed at cutting costs. The company will cut about 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement, it said in a statement
You could make the same insinuations of bad faith against almost anybody. For example, Labour is heavily dependent on money from trade unions. The CBI gets most of its money from big business. Some recent Brexit work by the National Institute of Economic and Social Research (NIESR) has been funded by the Peoples Vote campaign.