Economy Feed

Many of the uber-rich pay next to no income tax

Don't believe the hype of liberal supporting billionaires who want higher taxes... They want them for YOU- not them!

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WASHINGTON (AP) — The rich really are different from you and me: They’re better at dodging the tax man.

Amazon founder Jeff Bezos paid no income tax in 2007 and 2011. Tesla founder Elon Musk’s income tax bill came to zero in 2018. And financier George Soros went three straight years without paying federal income tax, according to a report out Tuesday from the nonprofit investigative journalism organization ProPublica.

Overall, the richest 25 Americans pay less in tax — 15.8% of adjusted gross income — than many ordinary workers do, once you include taxes for Social Security and Medicare, ProPublica found.

An anonymous source delivered to ProPublica reams of Internal Revenue Service data on the country’s wealthiest people, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. 

ProPublica compared the tax data it received with information available from other sources. It reported that “in every instance we were able to check — involving tax filings by more than 50 separate people — the details provided to ProPublica matched the information from other sources.’’ 

Using perfectly legal tax strategies, many of the uber-rich are able to whittle their federal tax bills down to nothing or close to it. Soros went three straight years without paying federal income tax; billionaire investor Carl Icahn, two, ProPublica finds. 

The findings are sure to heighten the national debate over the vast and widening inequality between the very wealthiest Americans and everyone else.

ProPublica reports that the tax bills of the rich are especially low when compared with their soaring wealth — the value of their investment portfolios, real estate and other assets.

 

Billionaire Carl Icahn hits back as IRS data shows he paid zero income tax

Corporate raider Carl Icahn, who is ranked the 40th wealthiest American with an estimated fortune of $14.9 billion, did not pay any federal income tax in 2016 and 2017. The 85-year-old's tax records were included in the trove of confidential IRS records that was made public on Tuesday by ProPublica. Icahn says he paid the taxes he owed and that he registered losses because interest on his loans was higher than his income. Amazon founder Jeff Bezos paid no income tax in 2007 and 2011, while Tesla boss Elon Musk's income tax bill came to zero in 2018. Investor George Soros went three straight years - between 2016 and 2018 - without paying federal income tax. Law enforcement and the IRS are now investigating the leak. ProPublica say they don't know who provided the data and acknowledged the possibility it could have come from 'a state actor hostile to American interests'.


Failed Bidenomics Threatens to Return Us to Jimmy Carter’s 1970s

FILE - In this Feb. 20, 1978, file photo, President Jimmy Carter listens to Sen. Joseph R. Biden, D-Del., as they wait to speak at fund raising reception at Padua Academy in Wilmington, Del. (AP Photo/Barry Thumma, File)
AP Photo/Barry Thumma

Writing in the New York Post, Charles Gasparino warns, “The Biden administration keeps insisting inflation is ‘transient,’ but there are now real signs that inflation is here and possibly for the long haul.”

“Thursday’s consumer price index increase of 5 percent year-on-year — its highest level in 13 years — is the latest and most visible piece of evidence that this scourge is making a comeback,” he adds.

The most important point he makes is this: “Inflation is a regressive tax that hits hardest at working-class and poor Americans.”

Inflation brutalizes the working class and poor, as do spiking energy prices, which are included in inflation measures, but also cause much of it. It’s not only the cost of electricity and topping your gas tank; it’s the cost of manufacturing and, most especially, transporting all the goods and services we purchase.

So it’s vital to focus on energy costs, not only for the reasons above, but also because His Fraudulency Joe Biden is waging war on oil, specifically America’s status as an energy-independent exporter.

The reasons for this crippling inflation are not difficult to discern. Because the federal government is paying millions of Americans not to work (even though the country’s reopening), an artificial labor shortage is artificially inflating wages, which increases the cost of everything else. On top of that, the federal government is pouring trillions and trillions of dollars into the economy, which is now totally unnecessary, as Gasparino points out. With the country finally reopening, the economy will grow just fine on its own without all this cheap money, which creates inflation.

Now, at this point, you might be thinking, Yeah, but wages are increasing. How is that a bad thing? 

Well, what good are higher wages if inflation eats it all up. Earnings are actually down in this country and have been for five months.

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Tax and Spend Biden- The Coming Crash That will leave many dead

Despite Joe Biden's repeated promises to never raise taxes on anyone earning less than $400,000 per year, he is now working with Democrats in Congress to hammer the middle class with devastating tax increases.. At issue is the so-called American Jobs Plan (AJP), a $2 trillion boondoggle of progressive wish-list spending, combined with a $2.5 trillion taxincrease.

Can Joe Biden cover the cost of his $6 trillion spending spree?

The American Rescue Plan, worth $1.9 trillion, has already passed the senate in a 50-49 party-lines vote held in March. The American Jobs Plan worth around $2.3 trillion and the The American Families Plan worth $1.8 trillion take the combined total of Biden's three plans to $6 trillion, that will be spent over roughly 10 years. In order to pay for this, the president announced a series of tax initiatives that would raise cooperation tax, increase funding to the IRS to chase town tax evaders, raise marginal income tax for the top 1 percent of earners, and raise capital gains and dividend tax rates for those earning over $1 million per year. Biden also intends to crack down on multinationals, forcing US firms that make money overseas and companies who use offshore businesses to pay significantly more in taxes under his 'Made in America' tax plan. However, according to estimates, Biden's tax increases would not be enough to cover the full $6 trillion in spending across the three plans, only raising $2.37 trillion, or enough to cover just one of the three spending plans.

PIERS MORGAN: Somebody's got to pay for Santa Joe's insane $6TRILLION spending spree

President Biden seems to have appointed himself as the nation's chief croupier - dishing out free chips to everyone, on the (White) House, writes PIERS MORGAN. He's only been in power for 100 days but has so far pledged to give away $20,000 for every single American citizen - a commitment of $60 billion for each day in office. Last night, he gave his first address to a joint session of Congress and enthusiastically pitched his $2.3 trillion 'blue-collar blueprint' American Jobs Plan and $1.8 trillion investment into 'human infrastructure'. Biden insisted he wasn't going to 'punish' anyone to pay for all this - well, apart from the rich - and definitely wasn't going to add to the tax burden for the middle class. But as he spoke, he looked and sounded more and more like Santa Claus - a benign, smiling old man announcing he was giving away free gifts to everyone.

Chinese whistleblower Yang Jisheng's book, 'Tombstone: The Great Chinese Famine 1958-1962,' is a powerful reminder that collectivism is evil:

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The village felt like a ghost town. There were no animals running around, not even rats, and no living trees either. “All had been stripped of their leaves and bark by starving peasants,” he records. People ate whatever they could get their hands on, and when they were not searching for food, they barely had any energy to move or make a sound.

At the little hut his father lived in, Yang saw his father’s “eyes sunken and lifeless, his face gaunt, the skin creased and flaccid,” which reminded Yang of the human skeleton he saw in an anatomy class. Yang suddenly realized that “the term skin and bones referred to something so horrible and cruel.” Yang tried to feed his father some peanut sprouts—the only thing he could find—but his father was too weak to even swallow. He died three days later.

Despite losing his father to starvation, Yang “felt no suspicion and completely accepted what had been instilled in me by the Communist Party and the Communist Youth League.” Since the founding of Communist China in 1949, the CCP had sealed China off from the outside world. The government had a domestic monopoly on information and facts.

“From nursery school to university, the chief mission was to inculcate a Communist worldview in the minds of all students. The social science research institutes, cultural groups, news organs, and schools all became tools for the party’s monopoly on thought, spirit, and opinion, and were continuously engaged in molding China’s youth.” Furthermore, “all views diverging from those of the party were nipped in the bud.”

How to Kill 36 Million People Read More


China’s Emissions Exceeded Those Of All Other Developed Nations Combined: Report

The idiotic idea that the United States should follow global warming prodigal, but China does not to do so, and pollute more than all other countries in the world is INSANE!   Politicians and Green New Deal Democrats are obviously being paid by China to destroy American businesses.   

INNER MONGOLIA, CHINA - NOVEMBER 04: Smoke billows from a large steel plant as a Chinese labourer works at an unauthorized steel factory, foreground, on November 4, 2016 in Inner Mongolia, China. To meet China's targets to slash emissions of carbon dioxide, authorities are pushing to shut down privately owned steel, coal, and other high-polluting factories scattered across rural areas. In many cases, factory owners say they pay informal 'fines' to local inspectors and then re-open. The enforcement comes as the future of U.S. support for the 2015 Paris Agreement is in question, leaving China poised as an unlikely leader in the international effort against climate change. U.S. president-elect Donald Trump has sent mixed signals about whether he will withdraw the U.S. from commitments to curb greenhouse gases that, according to scientists, are causing the earth's temperature to rise. Trump once declared that the concept of global warming was "created" by China in order to hurt U.S. manufacturing. China's leadership has stated that any change in U.S. climate policy will not affect its commitment to implement the climate action plan. While the world's biggest polluter, China is also a global leader in establishing renewable energy sources such as wind and solar power.

A new report released late week found that communist China’s greenhouse gas emissions in 2019 were higher than the rest of the developed world combined.

The report was published by the Rhodium Group, a leading independent research provider that specializes in matters involving China, energy & climate, India, and economics.

“Using our newly updated global emissions data through 2019, we estimate that in 2019, for the first time since national greenhouse gas emissions have been measured, China’s annual emissions exceeded those of all developed countries combined,” the report said. “China’s emissions were less than a quarter of developed country emissions in 1990, but over the past three decades have more than tripled, reaching over 14 gigatons of CO2-equivalent in 2019.”

image from pbs.twimg.com


The April Jobs Numbers Were So Bad That CNBC’s Steve Liesman Thought It Was A Typo

The April Jobs Numbers Were So Bad That CNBC's Steve Liesman Thought It Was A Typo

Many commentators were surprised by the disappointing April jobs numbers but none more so than CNBC’s Steve Liesman, who had to do a double-take while reading them during a Friday Morning segment of Squawk Box. The Department of Labor datareleased Friday showed that the U.S. economy is still 8.2 million jobs short of pre-lockdown levels, with a reported increase of just 266,000 jobs in April. As the numbers came in this morning, Liesman was so taken aback that he thought it was a typo... It wasn't.

 


Gas prices have jumped 30% since November, now expert says Biden wants them even higher

1The average price for a gallon of gas is up 30 percent nationwide since November -- from $2.20 to $2.85, according to AAA -- and shows no signs of stopping, an expert warns.

The price topped $3 in nine states over the weekend, and some analysts believe $4-per-gallon gas is coming soon, The Washington Times reported Sunday.

Supply and demand is the biggest factor in the rise in prices, as the Organization of the Petroleum Exporting Countries announced it would keep its oil production cuts for another month despite the increasing demand for gasoline as the coronavirus pandemic eases worldwide.

While high gas prices are nothing new, there is concern that the prices could get astronomical if President Joe Biden and Democrats in Congress enact policies that would discourage the use of nonrenewable energy.

Myron Ebell of the Competitive Enterprise Institute’s Center for Energy and Environment told The Times that liberal policies to fight climate change would be a losing issue politically, but that may be a risk Democrats are willing to take.

TRENDING: Washington Post admits anti-Trump story actually based on false quotes

“It’s also in their policy interest to have high gasoline prices … to convince people to get off gas-powered cars and transition to electric vehicles,” Ebell said.

“They really do want high gas prices, in a way, but they have to balance that against the political damage done when gas prices skyrocket.”

WND.COM


How Dodd-Frank Made It Legal for Banks to Confiscate Your Money! HONEST!

Should another financial crisis befall us (like what happened this week), rendering a number of Too-Big-To-Fail banks insolvent, the good news is that taxpayers will no longer be forced to bail them out.

The bad news is that these large Wall Street banks can now legally bail themselves out internally (referred to as “bail-ins’) using depositor funds.

Thanks to Dodd-Frank, if you happen to hold your money in a savings or checking account at a bank, and if that bank collapses, it can legally freeze and confiscate your funds for purposes of maintaining its solvency.

So instead of relying on government funds (taxpayer money) to save itself from going bankrupt, a bank can simply dip into your deposit accounts to stabilize itself.

To compensate you, the bank will exchange your money for its equivalent value in company shares.

In other words, if a bank fails, it takes your money and hands you an equivalent amount of shares in its failing operation. Ethical? No. Legal? Yes.

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There is a virus – and there's a virus agenda

By Jake MacAulay

Despite what you hear from "Constitution experts" on TV, no president or governor or health department official has the authority to suspend the Constitution by ordering people not to congregate, or by closing businesses, or by falsely imprisoning people in their homes.

The TV legal experts usually speak of "balancing" individual rights against government interests with words like "compelling state interest" and "least restrictive means." But this is a false pretense. The Constitution doesn't contemplate any "balancing."

Unless a jury of your peers convicts you of a crime, your constitutional rights are absolute. And it's the governors' sworn duty to protect these rights, not to violate them.

Is this what James Madison was referring to when he declared in Federalist 47:

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"The accumulation of all powers, legislative, executive, and judiciary, in the same hands, whether of one, a few, or many, and whether hereditary, self-appointed, or elective, may justly be pronounced the very definition of tyranny."

 

 

Continue reading "There is a virus – and there's a virus agenda" »


Oil price crashes to MINUS $37 a barrel for the first time in history

Oil price crashes into negative for the first time in history as demand dries up

The cost to have a barrel of U.S. crude delivered in May plummeted to negative $37.63. It was at roughly $60 at the start of the year. Traders are still paying $20.43 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the 'true' price of oil. Oil is traded on its future price; the May futures contract expires Tuesday. That exacerbated volatility; by Monday evening US oil prices were back above zero, reports said. Monday's sharp decline is a result of May's futures contract closing Tuesday, when trading contracts for it expire and the earliest delivery they'll be able to buy is for June.


The unemployment rate may hit 30% because of coronavirus Panic

But what will the results be?  How many Non Corona Deaths will this cause???

The unemployment may hit 30% because of coroanvirus with an unprecedented 50% drop in gross domestic product, a Federal Reserve chief has warned. This would outpace the Depression when the highest unemployment rate was:

1933

  Unemployment

        24.9%

 

GDP

-1.2%

 inflation

0.8%

FDR President

 

James Bullard, President of the St Louis Fed, said that 'everything is on the table' for lending to replace up to $2.5trillion lost as a result of job losses in the first quarter.   'There is more that we can do if necessary,' Bullard told Bloomberg, 'There is probably much more in the months ahead depending on where Congress wants to go.'

Last night top-level negotiations between Congress and the White House churned over a now nearly $2 trillion economic rescue package as the COVID-19 death toll soared to 414, with more than 35,000 cases.

The Fed last week began drastic measures to breathe life into the economy, cutting interest rates to almost zero and promising to increase its holdings of Treasuries by $500billion and of mortgage securities by $200billion. 

Bullard added: 'This is a planned, organized partial shutdown of the U.S. economy in the second quarter ... The overall goal is to keep everyone, households and businesses, whole.' 

As President Donald Trump took to the podium in the White House briefing room and promised to help Americans who feel afraid and isolated as the pandemic spreads, the Senate voted Sunday against advancing the rescue package. But talks continued on Capitol Hill.  'I think you'll get there. To me it's not very complicated: We have to help the worker. We have to save the companies,' Trump said.

The overreaction of government and media spreading undue panic at the same time saying don't panic! Like "calm down," simply saying "don't panic," without providing evidence and facts that is actually available to ease the mind, is largely ineffective.

Abdu Sharkawy, a doctor and expert at the University of Toronto in Canada, wrote late Friday that the disease is indeed dangerous but that the often self-interested measures to contain are in some cases proving worse.

His post, which has been shared around 310,000 times at the time of writing, attacks the "spellbinding spiral of panic" he observes around the world as the number of cases increases.

1"I am not scared of COVID-19," Sharkawy wrote, using the scientific name for the disease caused by the coronavirus.

You can read the full post here.

However, he continued:

"What I am scared about is the loss of reason and wave of fear that has induced the masses of society into a spellbinding spiral of panic, stockpiling obscene quantities of anything that could fill a bomb shelter adequately in a post-apocalyptic world.

"I am scared of the N95 masks that are stolen from hospitals and urgent care clinics where they are actually needed for front line healthcare providers and instead are being donned in airports, malls, and coffee lounges, perpetuating even more fear and suspicion of others. I am scared that our hospitals will be overwhelmed with anyone who thinks they 'probably don't have it but may as well get checked out no matter what because you just never know…'"

So take the doctors advice DON'T PANIC....  I wish the Media, government and CDC would do the same!

 

 


Why are the Markets going up and down by thousands? CORRUPTION on Wall Street

This story is not new!  In every crisis, stock manipulators make fortunes with insider trading and price manipulation. This is not new, but it must be curtailed.  Read today's example.... The man should be arrested, and NEVER ALLOWED on a business TV program again!

American hedge fund boss Bill Ackman has made $2.6 billion by betting against the markets just days after stoking fears by saying 'hell is coming' and begging President Donald Trump to shut down the country amid the coronavirus pandemic

American hedge fund boss Bill Ackman has made $2.6 billion by betting against the markets just days after stoking fears by saying 'hell is coming' and begging President Donald Trump to shut down the country amid the coronavirus pandemic. 

The Pershing Square Capital Management hedge fund manager said his firm had made $2.6billion from a one-off bet that the coronavirus outbreak would cause a global market crash.     

His firm seized upon bond market turmoil during the coronavirus crisis in buying 'credit protection on various global investment grade and high-yield credit indices'.

The bet, which was designed to protect Pershing Square Capital Management from falling stock markets triggered by the pandemic, saw his firm make almost 100 times its initial $27million investment.

Read More: Sickening: Hedge fund boss Bill Ackman makes $2.6BILLION by betting AGAINST the markets just days after stoking fears by giving emotional interview warning 'hell was coming' and begging Trump to shut down country over coronavirus pandemic


This is not the end of the world, according to Christians who study the end of the world

And they are RIGHT!

Are We in the Last Days (Prelim 1985)01Chuck Pierce’s son was concerned, like a lot of other people looking out on a world of ransacked grocery stores and canceled sports seasons and eerie lines of people standing six feet apart from one another. So he asked his dad: “Is this the end of the world?”

It sure might feel apocalyptic. But not if you ask Christian writers and pastors who have spent years focusing their message on the Book of Revelation — the New Testament’s final book. It lays out a lurid, poetic vision of the End Times, in which many evangelical leaders interpret it to mean that Jesus will return to Earth, believers will be raptured to heaven and those left behind will suffer seven dreadful years of calamities. Most of these Revelation-focused prophesiers don’t see coronavirus as heralding the Second Coming and the end of life on Earth as we know it. 

“If a person were just completely ignorant about what the Bible says about the End Times, they may think this right now: This is it,” said Jeff Kinley, a writer of books on biblical prophecy who lives in Harrison, Ark.

Kinley said he understands why Americans might see this time of fast-encroaching disease, isolation from loved ones and crashing stock markets as apocalyptic. Americans are primed to believe the end of the world might arrive any day now. In 2010, 41 percent told Pew Research Center that they expected Jesus to return by 2050.

Kinley pointed to Revelation 6:8, which forecasts deaths all over the globe “by sword, famine and plague,” and Jesus’ words about the events before the end times in Luke 21:11: “There will be great earthquakes, famines and pestilences in various places, and fearful events and great signs from heaven.”

“I think he’s referring to a future time,” Kinley said. “I don’t think this is an actual fulfillment of that.” 

The Bible is very specific about what will happen before the End Times, Kinley says, and those events haven’t all unfolded yet. For one major thing, the ancient temple in Jerusalem is supposed to be rebuilt first.

Gary Ray, a writer for the prophecy website Unsealed, agreed: He and his fellow evangelical End-Times writers are focused on what is happening with holy sites in Israel, not disease. “The key focus that we have in our minds is Israel. That’s God’s prophetic clock. As things progress in that country, we get closer to when the rapture of the church will occur, and then the tribulation,” he said.

Continue reading "This is not the end of the world, according to Christians who study the end of the world" »


Economic Bloodbath: Oil- Stocks Crashing - Media Hype is working on destroying Trump economy

Bob Barney

The Fake News about the Coronavirus being the next Black Death has achieved what Russiagate could not do - it has tanked the world's economy and created the greatest threat to Trump's presidency...  Although barley a few hundred have the disease in America, we lose 150 people a day from the FLU! Most people know that the flu can kill. Indeed, the so-called Spanish flu killed 50 million people in 1918 – more than were killed in the first world war. But did you know that the common cold kills many people?  Can you really catch your death?

Rhinovirus causes about half of all colds, but other viruses can cause one or more of the symptoms of a cold, including adenovirus, influenza virus, respiratory syncytial virus and parainfluenza virus. A cold can also have more severe symptoms in the very young and the very old. Older people are more likely to develop a more serious infection compared with adults or older children. And people who smoke – or who are exposed to second-hand smoke – are also more likely to get a cold and have more severe symptoms.  Sound familiar????

The common cold kills more people each year than we have lost to the Coronavirus, yet no panic!

Oil prices see the biggest plunge since the Gulf War in 1991 as Dow set to open 1,000 points lower


Stock Market Correction- Crash coming?

Wall Street prepares for another hammering as $5 TRILLION is wiped off the world economy

New York markets (left) were braced for another sell-off on Friday after stock prices across Asia (top right) and Europe (bottom right) tumbled following a week that has seen some $5trillion wiped off the world economy. Traders had been growing in confidence that the coronavirus outbreak had been confined to China, but fresh outbreaks in Italy, South Korea, Japan and Iran have seen confidence collapse amid fears it could cause a major slowdown in global industry. Markets in Japan and Shanghai closed almost 4 per cent down on Friday, those in Europe were headed for their worst week since the 2008 crisis, while Dow Jones and S&P 500 futures - effectively bets placed on where the market will head next - were down 2.5 per cent, in a sign of things to come.


UK ECONOMY SURGES POST-BREXIT DESPITE GLOOMY PREDICTIONS


Trump economy soaring: Homebuilding surges to 13-year high

America's housing market boomed in December as part of the roaring economy under President Donald Trump. Housing starts jumped 16.9 percent from November, the largest percentage gain since October 2016, according to CNBC.

The December annualized rate of 1.608 million units was a 40.8 percent increase from December 2018 and represented the highest level since December 2006.

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The torrid December meant that for the year, an estimated 1.29 million housing units began construction in 2019, an increase of 3.2 percent from 2018

 

In a bullish sign for the US economy and the real estate sector, housing starts surged in Dec, far above expectations. The key takeaway: the 1yr trend accelerated to nearly a 41% gain! That's the strongest increase in nearly 7yrs! https://cnb.cx/30us6bu 

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See James Picerno's other Tweets
 
 

Black Friday

Black Friday Chaos: Thousands of shoppers wait hours in line before fighting over special

While millions of families across America gathered at their dinner tables for their Thanksgiving dinner, thousands of savvy shoppers were waiting in line for Black Friday deals. Chaotic scenes unfolded in malls across the country as people got a head start on their Christmas shopping, trying to land the best deals. Thousands of people lined up outside of Macy's Herald Square location in New York City, braving the cold as they waited for employees to open the doors at 5pm. The unofficial holiday has even extended overseas in countries like Brazil, where customers nearly fought to get their hands on the latest Samsung TV's on Thursday. Since 2005, Black Friday has been the busiest shopping day of the year in the United States.


Struggling farmers are losing a huge customer to the trade war — China-but remain loyal to Trump

image from fm-static.cnbc.com

U.S. farmers lost one of their biggest customers after China officially cancelled all purchases of U.S. agricultural products, a retaliatory move following President Donald Trump’s pledge to slap 10% tariffs on $300 billion of Chinese imports.

China’s exit piles on to a devastating year for farmers, who have struggled through record flooding and an extreme heat wave that destroyed crop yields, and trade war escalations that have lowered prices and profits this year.

“It’s really, really getting bad out here,” said Bob Kuylen, who’s farmed for 35 years in North Dakota.

“Trump is ruining our markets. No one is buying our product no more, and we have no markets no more.”

Agriculture exports to China dropped by more than half last year. In 2017, China imported $19.5 billion in agricultural goods, making it the second-largest buyer overall for American farmers. In 2018, that dropped to $9.2 billion as the trade war escalated, according to the United States Department of Agriculture.

This year, China’s agricultural imports from the U.S are down roughly 20%, and U.S. grain, dairy and livestock farmers have seen their revenue evaporate as a result. Over the last 6 years, farm income has dropped 45% from $123.4 billion in 2013 to $63 billion last year, according to the USDA.

Loyalty to Trump

Farmers are an important voting base for Trump, who is running for reelection next year. While he’s given no indication of backing off in the trade war, struggling farmers appear to remain loyal.

Continue reading "Struggling farmers are losing a huge customer to the trade war — China-but remain loyal to Trump" »


Fed Cuts Interest Rates for First Time Since 2008 Crisis

 
Fed Cuts Interest Rates for First Time Since 2008 Crisis
President Donald Trump with Fed Chair Jerome Powell (AP)
 
The Federal Reserve cut interest rates on Wednesday to shore up the economy against risks including global weakness, but the head of the U.S. central bank said he did not view the move as the start of a lengthy series of rate cuts. [Full Story]
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