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Kenneth Schortgen Jr.

Record number of retail stores have not made it to Black Friday here in 2017

One of the more interesting byproducts of the Housing Bubble that took place during the first decade of this century was the inordinate number of businesses that sprung up in and around new communities.  And while using the tenor of continual growth as the catalyst to keep pushing up their stock prices between 2002 and 2008, many of these corporations would end up shuttering store locations when the foreclo ...

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Combined consumer debt back at all-time highs heading into Christmas shopping season

After a brief respite earlier in 2017, all of a sudden consumer debt across the board has surged in the areas of student loans, auto loans, and credit card debt just weeks before retailers hope to have their biggest selling period of the year. In fact credit card debt has soared back over the $1 trillion mark after falling below this Maginot lone during the summer, leading to a validation of a recent survey ...

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Once again, gun laws failed to stop the mass shooting at a Texas church

As President Trump stated earlier today, the cause behind the horrific mass shooting that took place in Sutherland Springs, TX yesterday was a mental illness issue, not a gun issue.  And the fact that the individual was given permission to purchase a firearm by the FBI during a lawful background check proves once again that gun laws will not stop criminals from carrying out unlawful actions. There have been ...

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Trump’s tax reform will be meaningless unless he stops the Fed from imposing the hidden tax of inflation

For producers and consumers there are two primary ways to be taxed... directly and indirectly.  And judging by how the Fed has been allowed to hold sway over both fiscal and monetary policies since the 2008 Financial Crisis, President Trump's tax reform plan will end up being meaningless if he doesn't reign in the central bank's programs that have led to rising inflation. Over the past several years the Fed ...

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Even with President Trump, Americans seeking to renounce citizenship on pace for record high in 2017

It has been a while since we last looked at the statistics for Americans renouncing their citizenship, but it appears sadly that the trend is not only still going strong, but that it is expected to achieve another record when Dec. 31 comes around. According to a new report from Bloomberg, 6800 Americans will voluntarily give up their U.S. citizenship in 2017, which is a 5.5% increase over last year's number ...

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Economic recovery for average Americans still nothing more than Hope and no Change

One of the most important things to remember when differentiating between economics and finance is that one is a social science while the other is a mathematical one.  And because of this, many times professionals and academics confuse the two when speaking about an economy as a whole. In fact the financial world, as well as the economic, are both full of opposing dichotomies.  For example earlier this week ...

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China’s Silk Road could come within 90 miles of the U.S. as Cuba seeks to join with initiative

In light of the expected rejection by the U.S. at the UN of removing longstanding economic sanctions against Cuba, the Caribbean government appears to be turning away from a U.S. administration that is looking to reverse what Barack Obama opened up, and instead look towards China to help expand their trade. In fact earlier today the Deputy Minister of Trade and Finance in Cuba announced that Havana wanted t ...

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Bitcoin related jobs emerging as one of the top trends on international recruitment sites

Despite the rise of robots potentially taking over 50% or more of the world's jobs over the next decade, the advent of cryptocurrencies are spawning new industries that are now requiring innovators to build the platforms and technologies of the future using the Blockchain.  And according to a trend forecast on the international job recruiting site Freelance.con, Bitcoin and other cryptocurrency based jobs a ...

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Another move away from U.S. hegemony could come soon as Europe mulls ditching the IMF

The International Monetary Fund (IMF) has a long reputation as being little more than a financial tool of the West used to impose U.S. hegemony on other nations through their getting them to borrow unsustainable debt.  And as we saw just a few years ago in Greece regarding negotiations over their own debt obligations, the IMF has little interest in aiding countries so that they can become economically sound ...

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History repeats itself in JFK documents as British press learns of assassination beforehand just like 9/11

As the Trump administration begins to distribute government documents long hidden from the public regarding the JFK assassination, there is an interesting parallel between this event and what took place back on 9/11.  Because according to disseminated documents, the British press appeared to know about each before the events ever took place. A reporter for the Cambridge Evening News received a call telling ...

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Not everyone is looking forward to tax reform as Congress is about to find out

For most corporations, small businesses, and individuals tax reform will be a welcome relief after more than two decades of rising taxes across the board.  However there are a number of groups who could actually lose some of their long-standing benefits which even go back to the Great Depression era, and they are preparing to engage in a full court press on Congress to lobby legislators towards protecting t ...

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And then there were two in the race to become the next head of the central bank

On Oct. 26 a report surfaced that two of the four primary candidates to become the next head of the Federal Reserve have pulled out of contention, leaving front runner Jerome Powell and the hawkish economist John Taylor as the two most likely to fill the top positions at the central bank. Outgoing Fed Chairperson Janet Yellen was unlikely to retain her place at the head of the Federal Reserve when President ...

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