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Kenneth Schortgen Jr.

In the aftermath of the failed healthcare bill vote, Deutsche Bank now puts a U.S. Govt. shutdown at 40%

There is much speculation that 70 plus days into Donald Trump's Presidency, the outsider who became Commander-in-Chief may have already spent his political capital.  And we are seeing this right now in Congress's opposition to discuss tax reforms, the debt ceiling, and even in finding a measly $4 billion to begin construction of a border wall. And with the Republican led Congress once again mired in the leg ...

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With Republican led Congress unable to pass new healthcare bill, leaders expect same failure with raising debt ceiling

Unlike the majority of Democrats who almost always vote in lockstep to what their leadership demands, Republican members of the House and Senate often split with each other when voting for a given bill or program.  And this division has only gotten worse since around 2010 when a group of Congressmen entered into the GOP on the coattails of the Tea Party movement. In fact, we saw this division play out just ...

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Iran places sanctions on U.S. defense companies for their support of Israeli ‘atrocities’ against Palestinians

While more of a symbolic gesture than one that will have actual economic consequences, on March 26 Iran issued sanctions against several U.S. defense companies for their supplying Israel with the arms that allegedly were a part of 'atrocities' committed against Palestinians in Gaza and the West Bank. As with the counter sanctions Russia imposed upon Europe following the U.S.'s sanctioning of certain Russia ...

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President Trump hires son-in-law to work towards privatizing multiple government offices and programs

On March 27 President Donald Trump created a new office for his son-in-law Jared Kushner with the intention of finding applicable offices and programs within the government that could be either streamlined, or outright privatized. Moving forward with one of his many campaign promises to treat government as one would a business, this move is similar in scope to Trump's budget submission from a couple weeks a ...

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Irony: U.S. sanctions against Russia have hurt American businesses more than they have Russian exports

Nearly 100 years ago President Calvin Coolidge issued the statement that, "the business of America is business."  However now in the 21st century this appears to be no longer the case, as the policies of the once greatest economy in history are now more about stifling business than they are about cultivating it. And this includes stifling their own. When President Obama attempted to blame Russia for the act ...

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China’s AIIB to induct 13 new members into its alliance

On March 23 China announced that 13 new member states, including Canada, will be joining the Asian Infrastructure and Investment Bank (AIIB).  In fact, with Canada's induction to the alliance they will become the first North American country to enter into China's alternative to the IMF, and continue the world's movement away from U.S. hegemony. Canada will join the Asian Infrastructure Investment Bank (AIIB ...

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As the ECB hints at allowing insolvent banks to fail, Italians move closer to electing an anti-euro candidate

On March 23 it appears that Italy has become the new Greece in the eyes of the ECB and the Troika as Europe's central banking authorities begin to drop hints that as the ECB begins tapering its QE programs, insolvent banks may simply be left to die without any monetary intervention. Speaking to the European Parliament yesterday, Danielle Nouy, head of the ECB supervisory body, informed the bureaucracy that ...

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Paradigm shift: American consumers switching from beer to pot in growing numbers

Despite the harsh rhetoric coming down from the new President and Attorney General, the future of American recreational consumption is growing squarely in the camp of cannabis over the long-standing drug of choice, alcohol. In a new survey of 40,000 primarily long time beer drinkers, over 27% stated that they would and are switching over to pot from alcohol in locations that have legalized the drug, and in ...

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Alabama town busted for jailing poor citizens in illegal debt prisons

While institutionalized debtor's prisons in the U.S. had been pretty much abolished since just before the Civil War, the practice of imprisoning individuals for failure to pay court ordered civil duty obligations has continued in local, state, and even Federal jurisdictions.  And the most common examples are with those considered to be 'dead beat Dad's' who fail to pay their court mandated child support. Bu ...

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UK to initiate and submit Article 50 for Brexit by end of month

On March 20, a spokesperson for Britain's Prime Minister Theresa May announced that the government would be submitting paperwork to initiate Article 50 on March 29 to fulfill the will of the people in exiting from the European Union. Nine months after the voters in the UK went to the polls and said yes to a Brexit from the EU, the island nation is now on the verge of becoming the first country to break away ...

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Senator Rand Paul introduces bill to restore American’s 4th Amendment rights and end civil forfeiture

One of the most egregious laws created over the past 40 years that has morphed into pure and simple government theft, is the statute regarding Civil Forfeiture and the 'right' of the state to seize your property without you either committing a crime, or them having to follow due process under the law.  In fact, civil forfeiture has become so widespread that state, local, and federal governments have illegal ...

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Huge decline for industrial production adds more credence U.S. economy is now in recession

By all historic measures the U.S. economy has probably been in a continuous recession since 2000 following the collapse of the Dot Com bubble, and most definitely with their entry into what became known as The Great Recession following the 2008 financial crisis.  And by historically we are of course referring to data modeling based on 1980 measures rather than on today's government reporting which has exper ...

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