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Old September 16th, 2017, 07:45 PM   #11
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Originally Posted by katsung47 View Post
As Sales Plunge, GM Might Cancel Six Car Models
by Wolf Richter • Jul 20, 2017

GM is getting whacked harder than any of the major automakers by the industry-wide plunge in car sales, as Americans switch in ever larger numbers from cars to “trucks,” which include pickups, van, SUVs and crossovers. In the first half of 2017, GM’s car sales in the US plunged 19%, and in June 38%.

The rest of the industry (without GM) booked declines in car sales of “only” 10% in the first half and 9% in June.

As Sales Plunge, GM Might Cancel Six Car Models | Wolf Street
GM went into bankruptcy because of stupid decisions and continues to make stupid decisions after the bail out. The Chevy Volt is part of the problem.
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Old September 29th, 2017, 04:13 PM   #12
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Venezuela's Maduro says will shun U.S. dollar in favor of yuan, others

Reuters Reuters•September 7, 2017
By Deisy Buitrago and Corina Pons

CARACAS (Reuters) - Venezuelan President Nicolas Maduro said on Thursday hiscash-strapped country would seek to "free" itself from the U.S. dollar next week, using the weakest of two official foreign exchange regimes and a basket of currencies


https://www.yahoo.com/news/venezuela...035002321.html
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Old October 13th, 2017, 01:54 PM   #13
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Sears CAnada goes bankruptcy. What's next?

Quote:
It’s Over for Sears Canada
by Wolf Richter • Oct 10, 2017 •

Liquidation too for Toys “R” Us? The company filed for bankruptcy in the US and Canada to restructure, but it can’t solve what’s killing it.

https://wolfstreet.com/2017/10/10/se...lay-off-12000/
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Old October 24th, 2017, 04:50 PM   #14
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Peter Schiff Warns Of "Calm Before The Storm"

by Tyler Durden
Oct 20, 2017



http://www.zerohedge.com/sites/defau...20_schiff1.jpg

But interest rates are now at just 1.25%. If the stock market were again to drop in such a manner, the Fed has far less fire power to bring to bear. It could cut rates to zero and then re-launch another round of QE bond buying to flood the financial sector with liquidity. But that may not be nearly as effective as it was in 2008. Given that the big problem at that point was bad mortgage debt, the QE program’s purchase of mortgage bonds was a fairly effective solution (although we believe a misguided one). But propping up overvalued stocks, many of which have nothing to do with the financial sector, is a far more difficult challenge. The Fed may have to buy stocks on the open market, a tactic that has been used by the Bank of Japan.

It should be clear to anyone that since the 1990s the Fed has inflated three stock market bubbles. As each of the prior two popped, the Fed inflated larger ones to mitigate the damage. The tendency to cushion the downside and to then provide enough extra liquidity to send stock prices back to new highs seems to have emboldened investors to downplay the risks and focus on the potential gains. This has been particularly true given that the Fed’s low interest rate policies have caused traditionally conservative bond investors to seek higher returns in stocks. Without the Fed’s safety net, many of these investors perhaps would not be willing to walk this high wire.

But investors may be over-estimating the Fed's ability to blow up another bubble if the current one pops. Since this one is so large, the amount of stimulus required to inflate a larger one may produce the monetary equivalent of an overdose. It may be impossible to revive the markets without killing the dollar in the process. The currency crisis the Fed might unleash might prove more destructive to the economy than the repeat financial crisis it's hoping to avoid.

Peter Schiff Warns Of "Calm Before The Storm" | Zero Hedge
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Old November 6th, 2017, 05:56 PM   #15
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How sky-high housing costs make California the poorest state

By CALMATTERS | CALmatters.org
PUBLISHED: September 27, 2017

When the cost of living is factored in, the Golden State has the highest poverty rate in the country. More than 20 percent of its residents struggle to make ends meet, according to recently released Census figures.That’s nearly 8 million people.

In the less sophisticated “official” measure, a family of four in San Francisco or Los Angeles or San Diego faces exactly the same poverty threshold—$24,339 annually—as a family in rural Mississippi. That’s despite the fact that you can rent a three-bedroom, two-bathroom 1,200-square-foot house in Horn Lake, Mississippi, for the same price ($850 a month) as half a living room in the Bay Area.

How sky-high housing costs make California the poorest state ? Daily Breeze
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Old November 6th, 2017, 06:24 PM   #16
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Yea Ron Paul is consistently wrong about everything
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Old November 8th, 2017, 05:12 AM   #17
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Japan and Germany still top 4 in world economy as well.
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Old November 20th, 2017, 05:36 PM   #18
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GOP Tax Bill Mostly Benefits The Wealthy, Tax Policy Center Finds

Arthur Delaney,HuffPost• November 6, 2017

WASHINGTON ? The richest 1 percent of Americans would reap 48 percent of the benefits of Republican tax reform legislation, according to a new analysis by the nonpartisan Tax Policy Center.

https://www.yahoo.com/news/gop-tax-b...203734303.html
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Old November 25th, 2017, 12:11 PM   #19
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The 1% reaped 48% under the existing tax bill. The tax reform does decrease taxes owed for the majority of tax payers who do not itemize.
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Old December 4th, 2017, 04:03 PM   #20
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China-Like Wages Now Part Of U.S. Employment Boom


AUG 4, 2017 Kenneth Rapoza ,

Starting pay at the Amazon warehouse, carved out of a large lot with a new road called Innovation Way designed for Amazon-bound trucks, is at $12.75, no degree required. For junior inventory clerks with warehousing experience, the pay is $14.70 an hour and requires a bachelor's degree. Operations managers are full time salaried positions that can pay upwards of six figures, a huge salary in southern Massachusetts.

Here's the math: a 30 hour work week at $15 an hour is $450 per week gross, or $1,800 a month. That comes out to less than $22,000 a year. At 40 hours, Amazon warehouse full timers, outside of management level employees, are earning $28,800 before taxes.

https://www.forbes.com/sites/kenrapo.../#14aee229128a
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