In the months ahead the Republican wing—for whom Trump has nicely delivered in the form of tax cuts in the trillions of dollars and with whom Trump is now playing ball with regard to free trade—will circle the wagons on behalf of Trump. The Republican party wing of the elite don’t want to drive Trump from the White House
Royal Dutch Shell, the massive oil company, has abruptly decided that petroleum prices are likely to remain low “forever,” given the rise of the electric vehicle
Cash and carry has become nothing more than standard operating procedure in politics and government, and it’s wrecking the republic. The whole system is rotten to the core
Thanks largely to Fleischer, this preferential tax treatment of “carried interest” has now become the single most notorious loophole in the federal tax code
The recent 0.5 percent growth rate is the latest in a steady declining U.S. GDP growth trend over the past year.
Most observers think Sanders is on a quixotic quest and, with Wall Street’s political power, the chances of any revival of Glass-Steagall are, like his election to the presidency, slim. Yet Sanders has a strong argument, one that can be effectively made using Citigroup
What if instead banks became a public utility with an end to speculation? Proposals are being floated in the U.S. to create state banks, perhaps on the model of the successful Bank of North Dakota
The Big Short provides the narrative for how Wall Street keeps that growth going, with little increase in real value, but lots of high salaries and high living that all count towards GDP.
On November 13, 2015, the United Kingdom’s Serious Fraud Office (SFO) announced it was charging ten individual bankers, working for two separate banks, Deutsche Bank and Barclays, with fraud over their rigging of the Euribor rates.
At the most fundamental level, the shift from investing in real assets to financial asset investing occurs because the structure of the global economy today incentivizes financial asset investment more than real asset investment.