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Leaked Tax Reform plan misses the boat completely since America is a consumer economy, not a manufacturing one

Earlier this afternoon Axios published what they called a 'leaked' outline of President Trump's planned legislation for tax reform.  And of course both Republicans and Democrats in Congress responded with their tired old complaints about the rich not being taxed enough, and the deficit not allowing for large cuts. However none of their arguments actually hold any water since the majority of big corporations ...

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Ratings agency hypocrisy continues on as S&P downgraded China over debt, but ignores U.S.’s 105% debt to GDP

On Sept. 21, S&P ratings agency downgraded China for what they determined as 'risks involved in debt expansion', and this move follows a similar one done by Moody's ratings agency a few months ago against the Far Eastern economy. However neither of these arbiters of credit worthiness have sought fit to impose the same decline on America's own sovereign rating, and this despite the fact that the governme ...

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Insane regulations within the state of Florida are hampering citizens from returning to their lives

Almost everyone, including the biased media gave the Trump administration high grades for the Federal government's efforts in aiding people during Hurricane's Harvey and Irma.  But sadly the same cannot be said for the state of Florida as years of insane regulatory statutes are making people returning to their homes a living hell. In fact there are two laws in particular which are severely hindering the reb ...

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The state and municipal pension ponzi schemes are beginning to pop with Ohio next on the docket

If there is anything that politicians are good at doing it is ignoring potential threats until they suddenly fall out of the sky and bring to their doorstep a slew of angry constituents.  Yet before this happens these same politicians will try to kick the can of any proverbial crisis down the road until they no longer are in office to deal with it, or they can somehow spin the crisis to their benefit. One o ...

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U.S. trade and account deficit hits highest quarter in more than eight years

While President Trump belligerently threatens China with a trade war, the U.S. continues to rely too much upon foreign imports for much of their goods.  And in new data out on Sept. 19, the account deficit for trade reached an eight year high as the U.S. found itself down $123 billion for the second quarter. The deficit in the broadest measure of US trade rose to the highest level in more than eight years t ...

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Next retailer prepares for bankruptcy as financial woes hit Toys R Bust

Unlike 2008-2010 when the Financial Crisis and subsequent Great Recession primarily hit the banks, 2017 will be known in economic history as the year that brick and mortar retail began to die.  And with several short and long-standing retailers having already filed for bankruptcy protection this year, the next one that appears to be on the docket is none other than Toys R Us. Over the weekend, we reported t ...

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India joins in on the bandwagon of sovereign governments potentially creating their own cryptocurrencies

Since cryptocurrencies are pretty much in the infant stages of acceptability and understanding, sovereign governments as a whole are on the fence in how to deal with de-centralized money.  However within the BRICS nations there is a growing trend towards co-opting the blockchain platform for their own benefit, and this is leading a majority of the countries within this coalition to begin a serious study on ...

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When it comes to government healthcare who is more ignorant? Bernie Sanders or the constituents that voted for him

Criticizing voters is not exactly fair since the Constitution protects the rights of the ignorant as well as the educated in their casting of ballots for whomever they so desire.  However when the People have to deal with a number of Congressmen and women in both the House and Senate who really have no business being there, who else can Americans blame since decisions made by these individuals can often hav ...

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Fed thankful for hurricane’s Harvey and Irma since it gives them cover for slashing Q3 GDP estimates

It's another fiscal quarter and another major downgrade of GDP estimates by the Atlanta Fed. The U.S. central bank loves to use whatever economic data models are available to justify their narrative while at the same time discounting or even discarding information that could interfere with desired monetary policies.  For example the Fed has pushed the theme of 'economic recovery' for years following their i ...

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Even as ESPN doubles down with more politics than sports, the TV industry continues to hemorrhage viewers

Over the past few days one of the biggest scandals hitting ESPN once again is from one of their African-American announcers calling President Trump a white nationalist because of his failure to cow-tow to the politically correct Black Lives Matter agenda.  And this scandal is simply a microcosm of the network's move over the past few years to spend more time talking about politics and social justice topics ...

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EU’s Juncker pressures ancillary states to not just join trade union but to also accept Euro as their primary currency

All appearances within the European Union are pointing to EC commissioner Jean-Claude Juncker wanting to turn Europe into one big superstate as the leading official is seeking to mandate that all ancillary countries who wish to join the coalition's Schengen Zone (trade zone) must also accept the Euro as their primary currency. Additionally on Sept. 13, Juncker called for the Union to create the office of a ...

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Consumers still racking up credit card debt at levels not seen since 2008 and the financial crisis

By now many people have read the stories or seen the surveys that show that the majority of Americans are either living paycheck to paycheck, or don't have enough savings to pay for an emergency expense of more than $400.  Which means that as price inflation continues to soar in the general economy, there are only two ways consumers can keep up with their buying of necessary items.  They skip out on one or ...

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