Jerome Powell on 60 Minutes: Fact Check

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by Michael Lebowitz On Sunday, March 11, 2019, Federal Reserve Chairman Jerome Powell was interviewed by Scott Pelley on 60 Minutes. We thought it would be helpful to cite a few sections of their conversation and provide you with prior articles in which we addressed the topics discussed. We have been outspoken about the role … Read more

TRUMP BUDGET CUTS WASTE/FRAUD IN SS AND MEDICARE/CAID AGENCIES-NOT BENEFITS

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It does not cut individual benefits that citizens receive, but instead targets waste and fraud in the agencies themselves. Its an overall budget. That also takes into account the projected savings under those same agencies. President Donald J. Trump is Promoting a Fiscally Responsible and Pro-American 2020 Budget RESPONSIBLE BUDGETING: President Trump’s budget request promotes … Read more

Rite Aid to cut about 400 US jobs in shake-up of its top management

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https://www.cnbc.com/2019/03/13/rite-aid-to-cut-about-400-us-jobs-in-shake-up-of-its-top-management.html Rite Aid said its CEO would exit as part of a revamp of its leadership, and that it would slash about 400 corporate positions. The company said the layoffs will affect more than 20 percent of corporate positions located at the company’s headquarters and across field operations. Rite Aid expects annual savings of about … Read more

Chipotle teams with Venmo as it takes its rewards program national

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https://www.cnbc.com/2019/03/12/chipotle-teams-with-venmo-as-it-takes-its-rewards-program-national.html Chipotle Mexican Grill is expanding its Chipotle Rewards program national as its digital platform continues to see major growth. Users can enroll via the Chipotle website or app, receiving 10 points for each dollar spent, earning a free entree with 1,250 points. For launch week, Chipotle is teaming up with digital wallet company Venmo.

Latest macro: A deep dive into US profit margins and earnings. When detrending margins, they don’t look so hot for this stage of the cycle

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via @ericbeebo: Companies with fatter margins may be maintaining them for not-so-good reasons: declining competition Watch trends in NIPA earnings and margins — they lead the S&P, and the S&P in turn leads the MSCI World A top-down macro view of the earnings outlook…ain’t too darn pretty  

2019 appears to be the year of the Frauds. So many things being revealed. College scams is just a Amuse-bouche to start…

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2019 appears to be the year of the Frauds. So many things being revealed. College scams is just a Amuse-bouche to start… — Edward Dowd (@DowdEdward) March 13, 2019 pic.twitter.com/MQVPKT3lnE — Dan Stringer, SEC Pimp (@Danstringer74) March 13, 2019 FEDS Charge Super-Rich Parents, Coaches, College Admissions Heads, Ivy League Colleges w/Racketeering and Fraud There will … Read more

China Has $6 Trillion Hidden Local Debt and $32 Trillion Off Balance Sheet!

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China’s $32 trillion problem. No worries, right? China’s unbelievably massive hidden debt is something that can’t be papered over. This can’t be swept under the rug. The problem is only getting worse and of course, there’s nothing stopping this as more speculation is encouraged by China as well as every other country in the world. … Read more

How States/Empires Collapse in Four Easy Steps

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by Charles Hugh-Smith The promises cannot be met, and so society decays into warring elites and competing constituencies. There is a grand, majestic tragedy in the inevitable collapse of once-thriving states and empires: it all seemed so permanent at its peak, so godlike in its power, and then slowly but surely, too many grandiose, unrealistic promises … Read more

America Is Precariously Close To Losing Battle With China For Control Of Undersea Global Internet Data Grid As Huawei Tech Flexes Muscle

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by Geoffrey Grider A new front has opened in the battle between the U.S. and China over control of global networks that deliver the internet. This one is beneath the ocean. The Internet, made available for mass public consumption in 1994, has grown into a global, One World Systemthrough which the majority of all buying and … Read more

Memo To Powell: The US Economy’s Not In A “Good Place”, But The Beached Whales Are Coming!

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via kunstler: Just as presidents are expected to act presidentially, Federal Reserve chairpersons are expected to act oracularly — as semi-supernatural beings who emerge now and again from some cave of mathematical secrets to offer reassuringly cryptic utterances on mysteries of the economy. And so was Jerome Powell wheeled out on CBS’s 60 Minutes Sunday night, like a … Read more

Tips To Consider If You Are At Risk Of Getting A Severance Package

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by Richard Rosso With the current economic expansion already extremely long, even by historical standards, there is a rising risk that record low unemployment most likely won’t stay that way forever. Could your job be at risk when the next recession comes? Severance packages are popular when companies seek to reduce workforce, especially older workers. … Read more

BANKRUPTCY!!

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by Jim Quinn Households used the debt to buy new $35,000 SUVs, new 5,000 sq ft $500,000 McMansions, on student loans to get degrees in Transgender Studies and on credit cards to buy the latest iGadget. Corporations used the debt to buy back stock at all-time high prices and pay their executives huge bonuses for … Read more

The End of Civil Asset Forfeiture – NOT!

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by Mark Nestmann On February 20, the Supreme Court unanimously ruled that the Eighth Amendment prohibition against “excessive fines and fees” applies to the states in civil forfeiture cases and other civil, non-criminal proceedings. The case involved a man named Tyson Timbs, who was arrested in Indiana in 2015 for selling narcotics to undercover police officers. … Read more