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Warren Buffet’s Net Worth Tops $100 Billion for First Time
Warren Buffett currently owns 249,000 shares of Berkshire Class A stock, giving him a 38% ownership of the conglomerate, according to FactSet. Berkshire’s Class A shares closed at a record high of $399,650 on Wednesday, bringing its 2021 advance to …
Warren unveils $640 billion college debt forgiveness plan
Democrat Elizabeth Warren is proposing the elimination of existing student loan debt for millions of Americans, part of a sweeping set of education funding proposals announced as she and other presidential candidates seek to differentiate themselves in a sprawling field. …
Greece Demands Germany to Pay over 300 Billion in WWII Reparations
Greece’s parliament on Wednesday began debate on a resolution to demand the payment of German war crime reparations. The issue has long been disputed by Berlin. ‘These demands are always active. They were never set aside by Greece,’ parliament chairman …
Templeton Deepens Short Duration Bet To -2.21 in $34 Billion Bond Fund
by confoundedinterest Negative duration bets? Financial markets are coming undone. (Bloomberg) — Average duration in Templeton Global Bond Fund shortened to -2.21 years by end of first quarter, from – 1.6 years at end of 2018, according to latest filing. Builds up Mexico position to 13% …
Foreign Investors SOLD $200 Billion of U.S. Stocks In 1 Year! Largest Liquidation On RECORD!
The evidence continues to pile up. Investors have been selling US equities. This is going at a record pace. They’re selling US debt. Economic indicators are pointing to a slowdown on most fronts. Yet the stock market is rising. Something …
Remittances: Illegal Immigration’s $30 Billion HIDDEN TAX
by Spencer P Morrison, NEE From Remittances: Illegal Immigration’s Hidden Tax: To be clear, it’s impossible to know exactly how much money illegal immigrants remit annually. There are three reasons for this. First, we don’t know how many illegal immigrants actually reside …
Just a reminder that Blue Apron is the billion dollar unicorn IPO of 2017 is now a penny stock
And that’s Not all below is table of how other so call tech Unicorns are doing. (Dec. 2018) COMPANY IPO OFFER PRICE. FIRST-DAY CLOSE CURRENT PRICE ZYNGA $10.00 $9.50 $3.63 SNAP $17.00 $27.09 $4.99 GROUPON $20.00 $25.97 $2.90 GOPRO $24.00 $32.34 …
Analysts don’t know what to make of Uber’s $100 billion valuation
https://www.cnbc.com/2019/04/13/analysts-dont-know-what-to-make-of-ubers-100-billion-valuation.html Analysts got their first look into Uber’s financials on Thursday, but they still are unsure whether they justify a $100 billion valuation. Uber posted an adjusted EBITDA loss of $1.85 billion in 2018 and showed slowing revenue growth. Lyft’s …
IMF Hands $4.2 billion in loans for Ecuador for Julian Assange
by Martin Armstrong The evidence of political pressure on Ecuador is surfacing. The IMF Executive Board Approved US$4.2 Billion (435% of quota and SDR 3.035 billion) Extended Fund Facility for Ecuador. The Executive Board agreed to this arrangement with strings attached. The …
Trump Sends $23.6 Billion Message To Mexico, And Americans Will Win BIG TIME
I Love My Freedom reports, President Donald Trump is planning to send a $23.6 billion message to Mexico, and illegal aliens will be effected the most by the move. The White House is preparing to target remittance payments made by …
Uber’s Operating Losses Piled Up to $12 Billion Since 2014
by Jim Quinn You will find more infographics at Statista Uber filed for its highly-anticipated IPO on Thursday, providing the general public with a first glimpse of its explosive growth and piling losses. According to the filing, Uber had 91 million monthly active …
General Electric Agrees to Pay $1.5 Billion Penalty for Alleged Misrepresentations Concerning Subprime Loans Included in Residential MBS
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, April 12, 2019 General Electric Agrees to Pay $1.5 Billion Penalty for Alleged Misrepresentations Concerning Subprime Loans Included in Residential Mortgage-Backed Securities The Department of Justice today announced that …
Ecuador gets $4 Billion from the International Banking Cartel, and soon after Assange is turned over to their henchmen. Coincidence?
by Playaguy Here is the money bit. ASHINGTON – The International Monetary Fund on Monday approved a $4.2-billion, three-year loan for Ecuador, part of a broader aid package to help support the government’s economic reform program. The Washington-based lender agreed …
Uber Discloses 3-Yr $10-Billion Loss from Operations, Stalling Rideshare Revenue & 50 Pages of “Risk Factors” that Are Not for the Squeamish
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter But it had big tax benefits and one-time gains. And Uber Eats is hot, so to speak. Uber Technologies’ IPO filing was made public today. The 330-page or so S-1 filing disclosed all kinds of goodies, including detailed …
China STEALS $600 Billion in American Intellectual Property Every Year
by Spencer P Morrison, NEE “Consumers are paying the price” for President Trump’s tariffs, CNN claims. Millions will feel the pinch; many thousands will lose their jobs. What CNN fails to mention is that millions of Americans already feel the pinch, and millions more have already lost …
American savers lost an estimated $500 billion due to low interest rates since the financial crisis
via CNBC: One long-lasting impact from the crisis — caused in part by irresponsible bank behavior — is suppressed interest rates, Wells Fargo analyst Mike Mayo wrote. “It’s absolutely a wealth transfer from prudent savers to the borrowers and risk …
Tax refunds so far this year down by $6 billion… Just 17% believe will pay less
Individual tax refunds this year have been only slightly smaller than last year, but those shortfalls are adding up. At the end of last month, the amount of money the government refunded was $6 billion below this time last year, …
Deficit rises $94 billion to $693 billion for first half of the year, budget office estimates
by Jim Quinn So the deficit is up $700 billion in the first six months, but the CBO is predicting a $900 billion deficit for the full year. With the economy slowing dramatically and corporate profits declining, revenues will decline …
Fed’s QE Unwind Reaches $535 Billion, Balance Sheet Drops to $3.94 Trillion, Old Autopilot Still Engaged
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Then there’s the sinkhole of $1.5 trillion in MBS and $617 billion in Treasuries that mature in over 10 years. In March, the Fed shed $34 billion in assets, according to the Fed’s balance sheet for …
7 Billion in Military Equipment Looted From Former US Base in Afghanistan
via ANTIWAR: The US handed over the Camp Kearney base in Paktika Province to the Afghan government in 2014, with an estimated $8 billion in equipment still inside. Today, the estimation is that about $1 billion worth of equipment is left. …
Americans Had To Borrow 88 BILLION Dollars To Cover Their Medical Bills Last Year
by Michael Snyder I know that the headline sounds outrageous, but it is actually true. According to a brand new report that was just released, Americans had to borrow 88 billion dollars to cover their medical bills last year. That …
Trump said last week that his administration had sent $91 billion to Puerto Rico, while only $29 billion had gone to Texas and $12 billion to Florida for the hurricane.
Senate Republicans on Monday blasted their Democratic colleagues for blocking a disaster relief bill that was intended to help Midwestern regions affected by flooding because it supposedly didn’t go far enough to help Puerto Rico. The bill, originally sponsored by Sen. David Perdue, R-Ga., proposed …
With net income of $111.1 Billion, Saudi Aramco Confirmed as World’s most Profitable company
https://www.youtube.com/watch?v=TLXGlpHFbxg via FT: Saudi Aramco has for the first time disclosed the financial performance it has kept secret for three-quarters of a century, revealing that the kingdom’s state oil company generated more profits last year than any other company in …
Drunk shopping is a $45 billion industry
People who work in sports, transportation, and energy appear most likely to splurge while inebriated. What are they buying? Clothes, shoes, movies and electronic devices top the list. Drunk shoppers are using Amazon to shop almost exclusively. A whopping 85 …
WeWork’s $1.9 Billion Loss Is A Typical Tech Bubble 2.0 Story
by Jesse Colombo On Monday, unicorn WeWork reported that it lost $1.9 billion on $1.8 billion revenue in 2018. WeWork is a company that provides shared workspaces and related services for startups. WeWork can be thought of as a company that sells …
Billion-dollar startup Zoom filed to go public — and shares of a totally unrelated company also called called Zoom shot up 1,100% (Business Insider)
Zoom Video Communications, a $1 billion startup, filed for its much-anticipated IPO on Friday. Zoom Technologies, a completely unrelated company, saw its shares spike 1,100% in the aftermath. That company trades under the ticker symbol “Zoom,” which likely led to …
The Financial World Has Gone Nuts: How Can A Company With $1.8 Billion In Revenue Lose $1.9 Billion? WeWork Shows How
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter WeWork isn’t a publicly traded company yet and doesn’t have to disclose financial information to the public, but it issued bonds in April 2018 and has to show its hapless bondholders some figures about its financial …
Federal Budget Deficits Hits $234 Billion….In February Alone!
Shortfall rises 40% to $544b in first 5 months of fiscal year Corporate, income taxes decline as tariff revenue climbs The U.S. posted its biggest monthly budget deficit on record last month, amid a 20 percent drop in corporate tax …
NICE! Pentagon Finds $12.8 Billion for POTUS Trump’s Border Wall; Supreme Court Sides With Trump over Sanctuary Cities in Deportation Case in a 5-4 decision.
It appears it really will be another promise made and another promise kept by an American president who continues to confound his enemies and delight his tens of millions of supporters both in the United States and around the world. …