News Story of the Day: Credit card rates are at their highest levels in history, says a new report from the Federal Reserve. According to the numbers, Americans pay about 17% on average in interest on credit cards. This could explain the disappointing retail sales figures from April, which highlighted that shoppers were spending less. […]
Archives for May 2019
China slashes U.S. debt holdings by 5.6% in last 12 months
China is dumping billions in United States debt. Is this why President Donald Trump surprised everyone and raised tariffs on Chinese goods last week? According to the latest Treasury Department data, Beijing has cut its holdings of U.S. government notes, bonds, and bills by $67.2 billion, or 5.6% in the 12-month period ending in March. […]
Fed Nominee Judy Shelton Wants Sound Money– and Lots of It
By: Joseph Salerno Bloomberg reported this week that the Trump Administration is considering Judy Shelton for one of the two vacant positions on the Federal Reserve Board of Governors. The good news is that Ms. Shelton is not a technically trained academic economist, indoctrinated in the prevailing orthodoxy. She holds a doctorate in business administration from the University of […]
WATCH: George W. Trump? The familiar drumbeat of war – this time with Iran
Many jokes about former President Barack Obama being renamed George W. Obama because of his appetite for war and bombing brown people. Well, perhaps President Donald Trump needs a name change: George W. Trump. It is unclear if President Trump wants to go to war with Iran, considering the innumerable conflicting reports. It is evident […]
THANKS TRUMP: Walmart confirms it will raise prices amid higher tariffs
Well, the next time you head out to the store and you notice that your bill is higher, you can thank President Donald Trump. With the U.S. and China engaged in a tit-for-tat fight, consumers will suffer with soaring prices and job losses. Walmart confirmed that prices for shoppers will rise because of higher tariffs […]