Economy

Trump Threatens 20% Tariffs On All Cars Coming Into US; Euro, Car Stocks Slide
Car Carrier
ZeroHedge | Fiat Chrysler, Volkswagen, and BMW shares are sliding following the latest shot across the bow from President Trump in the global trade wars. This time he took some time off from China and aimed at the European Union,...
‘Diamonds Are Forever,’ and Made by Machine
Diamonds
NYTimes | OXFORDSHIRE, England — In a white industrial building in the rolling hills of the English countryside 16 miles from Oxford, silver machines shaped like spaceships hum inside vast laboratories. They are replicating the...
U.S. Inflation Accelerates to Six-Year High, Eroding Wages
Bloomberg | U.S. inflation accelerated in May to the fastest pace in more than six years, reinforcing the Federal Reserve’s outlook for gradual interest-rate hikes while eroding wage gains that remain relatively tepid despite an 18...
Ben Bernanke: The US Economy Is Going To Go Off The Cliff In 2020
Bernanke
ZeroHedge | It looks like Ben Bernanke is a Bridgewater client. Recall that earlier this week we reported that in the May 31 "Daily Observations" letter to select clients, authored by Bridgewater co-CIO Greg Jensen, the world's...
Social Security Expected to Dip Into Its Reserves This Year
SSN
WSJ | The Social Security program’s costs will exceed its income this year for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits. This is three years sooner than...
Musk Accuses Mystery Employee Of "Extensive And Damaging Sabotage"
ZeroHedge | It wasn't the first time there was a fire reported at a Tesla facility: as we noted at the time, there was another one just two months ago...     FIRE AT TESLA PLANT TEMPORARILY SUSPENDED PRODUCTION TUES: CNBC     Any...
The 'Real' America: 21.5% Unemployment, 10% Inflation, And Negative Economic Growth
ZeroHEdge | Every time the mainstream media touts some “wonderful new economic numbers” I just want to cringe.  Yes, it is true that the economic numbers have gotten slightly better since Donald Trump entered the White House, but...
Will the Fed Set Off a Recession Alarm?
Federal Reserve
WSJ | The chairman of the Federal Reserve, just four months into his term, could be in the uncomfortable situation this week of signaling that a recession is coming. The Fed seems all but certain to raise its target range on...
US hits China's ZTE with $1 billion penalty in deal to end crippling sanctions
CNBC | The U.S. has struck a deal with Chinese telecom giant ZTE to end crippling American sanctions, Commerce Secretary Wilbur Ross told CNBC on Thursday. The department said the deal includes a $1 billion penalty against ZTE...
More than half of US housing markets were overvalued in April
CNBC | As the sharp gains in home prices continue, more markets are seeing values higher than their local economies can support. Prices nationwide jumped 6.9 percent in April from a year ago, according to the latest monthly...
More billionaires in the world than ever before
CNBC | There are now more billionaires in the world than ever before: 2,754. That's according to The Wealth-X Billionaire Census 2018, which finds that "the billionaire population and their wealth soared to record levels in...
War On Cash Goes into Full Effect — Purchases Over $10,000 ILLEGAL in Australia
Credit Cards
FreeThoughtProject | Canberra, Australia – The Australian government announced that it will soon be illegal to use more than $10,000 cash to purchase anything, forcing individuals who wish to buy more expensive items to use a cashier’s...
95,745,000: Record Number Not in Labor Force as Boomers Retire
CNSNews | (CNSNews.com) - The number of employed Americans has broken eight records since President Trump took office, but on the not-so-sunny side, the number of Americans not in the labor force also keeps increasing, breaking...
Economy adds 164K jobs in April, unemployment lowest since 2000
Hiring
TheHill | The U.S. economy added 164,000 jobs in April, a modest number which was less than expected as the nation’s labor market maintains a steady pace of growth. The unemployment rate fell to 3.9 percent, the lowest level...
Trump Planning Ban On Luxury German Autos
mercedes
ZeroHedge | Having cornered his European allies over the Iran sanctions, and tightened his grip on the EU economy over metals tariffs, an exclusive report by German magazine WirtschaftsWoche claims that President Trump is taking...
China vows to protect its interests from ‘reckless’ U.S. trade threats
Reuters | China lashed out on Wednesday at renewed threats from the White House on trade, warning that it was ready to fight back if Washington was looking for a trade war, days ahead of a planned visit by U.S. Commerce Secretary...
Sweden needs an extra 208,000 employees by 2025 just to keep up with growing demand of Welfare state
Sweden Flag
Bloomberg | Sweden’s got a major supply and demand problem. Its fabled welfare state is forecast to need an extra 208,000 employees by 2025 just to keep up with growing demand. Trouble is, only 207,000 workers are projected to join...
Central Banks: The Great Experiment Has Failed
Central Banks
Daily Reckoning | My latest book, Collusion: How Central Bankers Rigged the World, is about the leading central banks and their incestuous relationships. The book dives into how central banks rigged the cost of money and the state of the...