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Kenneth Schortgen Jr.

Central banks beginning to think the Euro is garbage as they swap reserves for the British Pound

Perhaps EU President Jean-Claude Juncker and ECB head Mario Draghi didn't get the memo, but it appears that central banks are beginning to think that their continental currency is garbage.  And in response to the declining confidence and trust in the Euro, many are making the move to instead fill their reserves with the British Pound despite all the rhetoric over Brexit. With ongoing turmoil raging in Europ ...

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The only reason Obamacare hasn’t imploded already was due to Obama siphoning cash from another agency to prop it up

When President Donald Trump tweets out that Obamacare is on the precipice of imploding, it appears that he is not far off the mark.  Failing insurance companies, Doctors leaving their practices, and even several regions like in the state of Arizona not even having a provider are just some of the consequences that have emerged in the three years since the Affordable Healthcare Act went active. But now we are ...

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Eight years of the ‘Obama’ recovery sees more college graduates than ever working a minimum wage job

A new White Paper out from the Washington-based Georgetown University Center on Education and the Workforce shows that not only have wages been stagnant over the past two decades, but more college graduates are being stuck working in minimum wage jobs than ever in history. Citing facts that show even salaries of higher skilled vocations have declined over the past eight years of the 'Obama recovery', the va ...

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While the Mexican govt. threatens their own companies, two German businesses are more than happy to build The Wall

As the Mexican government continues to threaten and put pressure on their own companies not to become involved in any way with building President Trump's border wall, two German businesses stated they were more than happy to help construct the border barrier. Citing the desire to 'become involved' in what may be the largest border project in millennia, the Bauer Group and the Leupold Brown Goldbach Architek ...

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European Commission President tells Trump to stop supporting Brexit or he will rally for Texas secession

On March 30 the inept and often viewed alcoholic head of the European Commission, Jean-Claude Juncker, attempted to both admonish and threaten President Donald Trump over his support of the UK's leaving the union by stating he would personally promote for the secession of states like Texas and Ohio. Speaking at a conference of the center-right European People’s Party in Malta, the titular head of the Europe ...

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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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