IN HIS FIRST PUBLIC APPEARANCE AFTER THE PRESIDENTIAL DEBATE AT HOFSTRA UNIVERSITY ON MONDAY, DONALD TRUMP WAS WELCOMED BY TENS OF THOUSANDS OF ENTHUSIASTIC SUPPORTERS TO A FLORIDA AIRPLANE HANGAR.
If you want to see who won the first presidential debate, forget the polls. Look out your window, and you will see the line of people who want to come and listen to Donald Trump speak stretching out so far you really cannot see the end of it or even close.
How many Americans know that we are less than 100 hours away from a government shutdown over the federal budget? If you listen to Senator Elizabeth Warren in the video below, aka Pocahontas, you might think it is the Republicans who are the ones threatening the shutdown, but then again… we’ve heard this story before.
The truth is, other than the “race card,” blaming Republicans for a looming government shutdown is one of the last moves left in the liberal playbook. Listen to how insane Warren sounds in the video below, and then wait until you learn what is REALLY going on in the subsequent video…
The Money GPS:
Mainstream Media Still Silent As Dakota Access Pipeline Protests Spread, Construction Blocked In Iowa
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In the first debate, Hillary Clinton called Trump’s tax plan “trumped-up, trickle-down” economics. It’s the one thing that came out of her mouth that I had to entirely agree with. Many others are saying it, too:
New analysis from a nonpartisan group finds that Donald Trump’s latest tax proposals would increase the federal debt by $5.3 trillion over the next decade, compared with $200 billion if Hillary Clinton’s ideas were enacted. The Committee for a Responsible Federal Budget looked at Trump’s newly revised tax plan as well as other proposals…. Trump has also proposed a sharp increase in spending on the military and veterans. He has proposed some spending cuts, but the committee calculated they wouldn’t come close to balancing the budget. (Newsmax)
ast week, the Federal Reserve decided to keep US interest rates unchanged, marking its 96th month of life at the zero bound. Apparently, for all of its “data dependence”, the Fed feels the economy could still benefit from *just* a little more of its ZIRP happy juice.
But as anyone with a little common sense will tell you, More is not always better. It’s quite possible to have too much of a good thing.
And in its pursuit to kick the can for a little longer, the Fed has crossed a dangerous line. Dangerous not just to the health of our market economy (that line was crossed a long time ago); but to its own existence. A central bank’s authority is based on faith in its power to effect its mandate. Last week’s decision was so toothlessly passive that even the Fed’s cheerleaders are beginning to question if it has any clue for how to escape from the corner it has painted itself into.
On September 22, 2016 eight Senate Democrats, including Elizabeth Warren, Bernie Sanders, Jeff Merkley and Sherrod Brown, wrote to the Department of Labor requesting an investigation of the banking behemoth, Wells Fargo, to determine if it violated labor laws. The letter came amidst the public outcry over news that Wells Fargo’s employees had opened as many as 2 million customer accounts without authorization in order to meet stringent sales quotas for cross-selling products. The Senators wrote in the letter:
“…dozens of former and current Wells Fargo employees have come forward to describe the lengths they went to in order to meet the bank’s aggressive sales quotas. When quotas weren’t met, employees faced threats of termination; mandated hours of unpaid overtime; harassment; and other forms of retaliation. For years Wells Fargo employees have described a management culture characterized by ‘mental abuse,’ being forced to work overtime ‘for what felt like after-school detention’ during the week and on weekends, and being ‘severely chastised and embarrassed in front of 60-plus managers.’ ”
The response to U.S. efforts to cheapen the dollar in 2010 — 2011 was not long in coming. It came from four directions — IMF, Russia, China, and Saudi Arabia. Enter the new world money: Petro-SDR.
Less than a year after Obama’s declaration of a new currency war, the IMF released a paper that is a blueprint for implementation of a new global reserve currency called the Special Drawing Right (SDR), or world money.
On December 1, 2015, the IMF announced that the Chinese yuan would be included in the basket of currencies used to determine the value of one SDR. With China onboard, the SDR is poised to become the de facto global reserve currency.
An often-perceived analysis in the gold community is that gold is the constant in our global economy. But is this true? Yes and no. Allow me to share my observations. Although gold has an exceptionally constant nature, and we have yet to see another currency that can compete with gold’s constant nature, the reality is, that there is no exact constant in economics. In any market all goods, assets, currencies, etc. continuously fluctuate in value relative to each other due to ever changing supply and demand dynamics. Having said that, in this post we’ll examine gold’s constant nature by measuring its purchasing power in the short (weeks) medium (years) and long term (decades). Additionally, we’ll compare our findings to fiat’s nature.
No one’s favorite government agency, the U.S. Transportation Security Administration, will be harassing innocent travelers on buses and trains, if new legislation — unsurprisingly proposed after rather questionable ‘attacks’ in New York City and New Jersey on September 18 — passes as expected.
Several U.S. senators from both sides of the aisle apparently want to make travelers lives’ a veritable hell of red tape and insidious surveillance by increasing putative ‘security’ for rail lines, highways, and marine routes by adding presence and screening procedures at Megabus depots, Amtrak stations, and more.
How quaint, private equity sounds like the very definition of capitalism. Well, peel back this onion and the tears come streaming from your eyes. As with any insider investment scheme, the devil is in the details. So when these operations fell under government regulation, some optimists felt good that the government would protect the limited partners and the entire financial system. Just how did it work out?
Mike Konczal reports in The SEC Has Revealed Astounding Corruption in Private Equity.