Economy

Swamped in Inflation, Venezuela Will Cut Five Zeros from Currency
Bolivars
WRAL | MEDELLÍN, Colombia — Faced with nearly incomprehensible inflation — 32,714 percent as of Wednesday — Venezuelan officials thought they had a solution: They changed the color of the bank notes and increased their...
Apple could be used as a 'bargaining chip' in the trade war, Chinese state media warns
CNBC | Apple has benefited from cheap labor and a strong supply chain in China and needs to share more of its profit with the Chinese people or face "anger and nationalist sentiment" amid the ongoing trade war, an article in...
China Releases "Retaliation List" To US Tariffs, Will Levy Tariffs On $60BN In US Goods
China Trade
ZeroHedge | Just minutes after China appeared to offer Trump an olive branch in the trade wars, when as we reported moments ago it nuked Yuan shorts by hiking forward FX reserve requirements by 20% in the process effectively easing...
Trump: "Tariffs Are The Greatest"
Cargo Ship
ZeroHedge | Not backing off in the face of global opposition to US trade policy, voiced most recently in this weekend's G-20 summit, President Trump on Tuesday praised his recent trade actions, tweeting that "tariffs are the...
Dollar Tumbles As Trump Blasts China, EU "Currency Manipulation", Fed Rate Hikes, Strong Dollar
Federal Reserve
ZeroHedge | After bouncing yesterday following White House reassurances of Fed independence and PBOC's big weakening of the Yuan fix, the dollar is tumbling again this morning... accelerating after Trump tweeted that "China, EU...
The Emerging Market Currency Crisis Of 2018 Threatens To Destabilize The Entire Global Financial System
Stockmarket
EconomicCollapseBlog | We haven’t seen emerging market currencies crash like this in over a decade, and analysts are warning that if this continues we could witness a devastating global debt crisis.  Over the past decade, there has been an...
EU Blocks Trump’s Iran Sanctions To Protect Companies Hours Ahead Of Snapback
Federica Mogherini
ZeroHedge | The European Union issued a statement Monday ahead of when renewed US sanctions are set to snap back against Iran after midnight US Eastern time, saying it "deeply regrets" the sanctions and will take immediate action...
Here's Why Trump Is Hiking Chinese Tariffs To 25%
China
ZeroHedge | One of the cited reasons behind today's market slide which started in Asia and promptly swept the rest of the globe, is a belated appreciation of Tuesday's news that the Trump administration is now considering more...
"Worst Case Scenario" Looms As Chinese Overwhelmingly Ready To Boycott US Goods In Trade War
China
ZeroHedge | Despite soaring trade policy uncertainty and a collapsing yuan, "the equity market has largely looked through the marginal risk from tariffs", according to Goldman's David Kostin recently wrote: No clear relationship...
This is the 'biggest bubble in the history of mankind and it's going to burst,' Ron Paul says
Images
CNBC | Look to the stock market and you’d assume Wall Street was doing just fine. The S&P 500 has come back to March highs, the Dow is back to positive for 2018, and the Nasdaq is at fresh records. It’s all built on shaky...
America's Largest Auto Exporter To Move Some Production Out Of US, Blames Tariffs
South Carolina
ZeroHedge | And cue the Trump tweet in 3...2...1... According to The Post and Courier in South Carolina, BMW said Monday that it would move production for some of its SUVs out of the U.S. as a result of new tariffs placed on the...
Trade Wars: Trump loads decisive volley against China
Cargo Ships
AFP | Washington (AFP) - Steep American tariffs on Chinese goods worth tens of billions of dollars are due to take effect at midnight Thursday, as US President Donald Trump fires the decisive salvo in a trade war between the...
Amazon Wipes Out $17 Billion From Eight Companies in One Day
CNBC | Amazon wiped out $17.5 billion from eight companies’ market values Thursday with just two announcements. The e-commerce giant has become a force on Wall Street. Even a hint it might take on a new industry can send...
Debt for US corporations tops $6 trillion
Corporations
CNBC | The debt load for U.S. corporations has reached a record $6.3 trillion, according to S&P Global. The good news is U.S. companies also have a record $2.1 trillion in cash to service that debt. The bad news is most of...
The $247 trillion global debt bomb
Debt Clock
Washington Post | The untold story of the world economy — so far at least — is the potentially explosive interaction between the spreading trade war and the overhang of global debt, estimated at a staggering $247 trillion. That’s “...
Stocks, Yuan, Commodities Slump As US-China Trade Wars Re-Escalate
ZeroHedge | Just when you thought it was safe to BTFTrade War Dip, a headline hits to remind you that President Trump is anything but done with China. The new list marks the latest escalation of the trade war between the world’s...
Record 155,576,000 Employed in June
Workers
CNSNews | (CNSNews.com) - "Our economic policy can be summed up in three very simple but beautiful but beautiful words," President Donald Trump told a rally in Montana Thursday evening: "Jobs, jobs, jobs," he said. On Friday, the...
Oil hits $75 for first time since 2014
Pump Jack
CNBC | U.S. crude rose above $75 a barrel for the first time since November 2014 on Tuesday, as the market grew increasingly concerned about a shortage of oil amid supply disruptions in Libya and Canada and as tough U.S....