User: newstrust Topic: US Economy
Category: Financial Markets
Last updated: Aug 23 2019 23:52 IST RSS 2.0
1 to 20 of 9,397    
CEOs are starting to realize that greed isn’t so good after all 23.8.2019 Raw Story
Gordon Gekko found religion this week. Gekko, the lead in the 1987 movie “Wall Street” about capitalism gone corruptly amok, is most famous for his phrase: “greed is good.” On Monday, real-world Gekkos—181 corporate CEOs who belong to the Business Roundtable—signed a pledge saying they think greed isn’t so good, after all. Instead of bowing […]
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Latino Nets Warn of ‘Terrifying’ Trump-Triggered Economic Crisis  16.8.2019 NewsBusters
Now that Mueller and the dossier are ancient (buried) news, the liberal Spanish-speaking media will jump at any chance (asides from its non-stop illegal immigration litany) to declare doomsday for President Trump and his Administration. Case in point: the possibility, according to Univision, CNN en Español and Estrella TV, of an economic recession that could put an end to Trump’s claim to credit for the current economic ...
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ABC, NBC Stoke Panic for Possible Recession, CBS Tries to Ease Fears 15.8.2019 NewsBusters
With the so-called “inverted yield curve” for bonds creeping up on Wednesday, ABC and NBC sprinted to stoke fears that “a recession could be on the horizon”, as NBC White House correspondent Kristen Welker declared. But over on CBS Evening News, chief financial analyst Jill Schlesinger was telling viewers to “run your life as if this were just any old day.” ...
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Trump is driving us toward a big recession: It will be ghastly — but is it deliberate? 13.8.2019 Raw Story
Americans suffer from frustratingly short attention spans and even shorter memories. Case in point: Following the dark ride of the George W. Bush years, during which there were two wars, apocalyptic terrorist attacks in New York and Washington, torture as national security policy, warrantless eavesdropping and the most catastrophic economic crash since the Great Depression, […]
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Elizabeth Warren Has Another New Plan—And Wall Street Isn’t Going to Like It 18.7.2019 Mother Jones
Elizabeth Warren has made fighting Wall Street central to her political career, and she’s prepared to double down if elected president. That’s the overall message of Warren’s newest detailed plan, unveiled on Thursday, to reel in financial industry excess, from high-risk investing to executive compensation to the private equity industry. The proposal is the second […]
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Mixed earnings at large US banks as Fed rate cut looms 16.7.2019 Raw Story
JPMorgan Chase reported record quarterly profits on Tuesday behind strong consumer business, but shares were pressured by worries over expected Federal Reserve interest rate cuts on a day of mixed results by large banks. Wells Fargo also notched higher profits, while Goldman Sachs reported a dip in profits, but topped analyst expectations. The trio of […]
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What’s for sale at this outdoor market? Cold, hard cash 11.7.2019 LA Times: Commentary

The men stand in a maelstrom of money. There's lots of it: inch-thick wads of crisp Benjamins, 100-euro bills and Turkish liras. Brick-sized blocks of Libyan dinars bulge from suitcases or are spirited away in wheelbarrows.

Here in the cobblestoned pathway of the Musheer market, a few steps away...

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Facebook’s Audacious Bid for Global Monetary Control 1.7.2019
A currency intended for trade on a national scale needs to be not only centralized but democratized.
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US Fed says large banks prepared to withstand economic crisis 22.6.2019 Raw Story
Major banks operating in the United States would be able to withstand a severe global economic crisis with funds to spare, the Federal Reserve said Friday. The Fed announced the results of its annual bank stress tests, showing the 18 largest financial institutions would suffer losses but still have enough of a capital buffer to […]
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Retail Workers Nationwide Are Forming a Coalition to Demand a Just Economy 14.6.2019
United for Respect filed a resolution at a Walmart shareholders meeting last week to allow workers on the board.
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Bank of America warns of possible ‘carnage’ linked to leveraged loans 5.6.2019 LA Times: Business

The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America Corp. Chief Executive Brian Moynihan: leveraged loans — a business the bank has dominated for a decade.

Problems aren’t yet emerging as the economic expansion continues and companies churn out...

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Essential California: When the Lyft you drive is also your home 21.5.2019 LA Times: Commentary
Good morning, and welcome to the Essential California newsletter . It’s Tuesday, May 21, and I’m writing from Los Angeles. Los Angeles Times business reporter Johana Bhuiyan has often written about the human costs of the cheaply priced gig economy. Yesterday, she published a major ...
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Bank on the People Instead of Wall Street Parasites 1.5.2019
The financialized economy has become a parasite feeding off the real economy, driving workers further into debt.

The post Bank on the People Instead of Wall Street Parasites appeared first on Truthout.

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Wall Streeter: Forgiving Student Loans Lets People Get Away With Something 23.4.2019 Crooks Liars
Stephanie Ruhle, who probably makes more in one year than most of us make in our lifetimes, has an itch that simply must be scratched. "On the top line, forgiving student debt sounds like a good idea. But is student debt the solution or is it that college simply costs too much?" she asked. Economist Allison Schrager responded that college costs too much, "but also, if you look at the data, the students who are struggling are the ones in default who have less than $10,000 in loans. So what you're really seeing is people who went to college, dropped out, and didn't have a boost in earnings. They are the ones really struggling. this is a big transfer to middle class and upper middle class people." (No, Allison, it really isn't. Elizabeth Warren's proposal limits loan forgiveness to those making less than $100K a year.) "Really. Some people are comparing the student debt crisis to the new subprime crisis and you seem to be framing it like it's not that big of a deal," Ruhle ...
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California Inc.: Snap Inc. needs to hurry up and make a profit 22.4.2019 LA Times: Business

Welcome to California Inc., the weekly newsletter of the L.A. Times Business Section.

I'm Business columnist David Lazarus, and here's a rundown of upcoming stories this week and the highlights of last week.

Markets were closed for Good Friday. This week, investors will refocus on company earnings...

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The IRS Tried to Take on the Ultrawealthy. It Didn’t Go Well. 6.4.2019
A special IRS team was formed to unravel the complex tax-lowering strategies of the rich. Here's why it failed.

The post The IRS Tried to Take on the Ultrawealthy. It Didn’t Go Well. appeared first on Truthout.

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The Secret to Funding a Green New Deal 25.3.2019
A network of public banks, including a central bank operated as a public utility, could fund a Green New Deal.

The post The Secret to Funding a Green New Deal appeared first on Truthout.

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The global economy is a ticking time bomb waiting to explode 17.3.2019 Raw Story

In the aftermath of the greatest financial calamity since the Great Depression, then–chief of staff for the Obama administration Rahm Emanuel made the call for aggressive action to prevent a recurrence of the meltdown of 2008. Although the U.S. government’s system of checks and balances typically pr...

The post The global economy is a ticking time bomb waiting to explode appeared first on Raw Story.

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Bull market hits the 10-year mark. Will it keep raging or will bears spoil the party? 8.3.2019 LA Times: Commentary

In early 2009, a gallon of gas in California averaged $2.16 and the movie “Watchmen” was playing in theaters at an average ticket price of $7.50. “Late Night With Jimmy Fallon” premiered. Facebook Inc. was still a private firm.

On Wall Street, the stock market was mired in a deep slump stemming...

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Survival of the Richest 28.2.2019
Nomi Prins tracks the acute worsening of inequality since the 2008 financial crisis.   By Nomi Prins Like a gilded coating that makes the dullest things glitter, today’s thin veneer of political populism covers a grotesque underbelly of growing inequality…Read more →
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