• Tag Archives Immigration
  • Homeless Swedes Out In The Cold

    Authored by Bruce Bawer via The Gatestone Institute,
    One reason there are so many immigrants in Sweden, both legal and illegal, is that the country’s welfare system is a bonanza for foreigners. Far from not being covered by the system, immigrants often enjoy preferential treatment These Swedes should not be sleeping on the streets. The Scandinavian welfare states were founded on a compact between the citizens and their government: the people would pay outrageously high taxes, and in return their government would guarantee them a magnificent safety net should they get sick or get fired. But ever since these countries chose to open their doors to mass Muslim immigration, that compact has been broken. A state-employed paper-pusher who gives citizens something for which they have already paid can hardly feel particularly virtuous, whereas handing out free stuff to aliens who have done absolutely nothing to deserve it can make that same government paper-pusher feel like a world-class Good Samaritan. Even more shattering is that millions of those Scandinavian citizens accept it. Marinated from birth in multiculturalism, millions of them dare not demand what they have coming to them — what they have paid for, what they deserve — lest they be viewed by others, and even by themselves, as bigots. The other day, I reported about the Church of Sweden’s strenuous efforts to appease Islam. Now comes the news that from December 15 to March 15, churches in the diocese of Gothenburg will be used at night as shelters for the homeless.
    Lovely idea. But there is a catch. The only homeless people who will be allowed in are foreigners — either immigrants from elsewhere in the EU, who are by definition legal, or illegal immigrants from outside the EU. In other words, native Swedes need not apply, even though the initiative is being paid for by taxpayer money.

    This post was published at Zero Hedge on Dec 8, 2017.


  • FX Weekly Preview: EUR Darts Back To Uptrend, But Can It Last

    Submitted by Shant Movsesian and Rajan Dhall MSTA of fxdailyterminal.com
    The key move in the FX majors last week as the upturn in EUR/USD, where the first key area of support on the downside at 1.1500-1.1625 held well to generate the move up into the mid-upper 1.1800’s. In the previous week we also asked whether the USD correction was over, and some may assume that based on the key weighting in the USD index – it is. Clearly the longer term outlook on Europe has been the driver of what is now seen as a default position in FX. The German economy has been leading the way with solid growth, as Q3 saw a rise of 0.8%, which should be confirmed on Thursday. Alongside this, we get the PMI data for Nov which will likely confirm more of the same across the whole Euro region, with the German IFO on Friday unlikely to buck the positive trend as the institute maintain their positive growth projections.
    Over the weekend however, the coalition talks in Germany have made the headlines with the FDP leader walking out of the negotiations with Chancellor Merkel’s CDU and the Greens, with wide ‘differences’ of opinion on immigration and climate amongst other issues lower down the pecking order. This leaves Merkel with 3 options; a new election, governing without a majority or continuing talks for an eventual agreement – all 3 to keep the EUR from maintaining the upside bias with clear conviction. That said, we are in a market which is getting used to brushing aside key risk factors, and the early Asian response is usually tempered to some degree by the more liquid London markets – as we saw with GBP the previous weekend!

    This post was published at Zero Hedge on Nov 20, 2017.


  • 22/10/17: Italian North: another chip off Europe’s Nirvana

    Having just written about the Czech electoral pivot toward populism last night, today brings yet another news headline from the politically-hit Europe.
    In a non-binding referendums in two wealthiest Italian regions, Veneto and Lombardia, the voters have given local governments strong mandates to push for greater autonomy from Rome and the Federal Government. Both regions are dominated by the politics of Lega Nord, a conservative, autonomy-minded party with legacy of euro scepticism, strong anti-immigration sentiment and the past promotion of outright independence for the Northern Italy.
    In both referendums, turnout was relatively strong by Italian standards (58% projected for Veneto and over 40% for Lombardia). And in both, exit polls suggest that some 95% of voters have opted for stronger regional autonomy.
    The referendums were not about outright independence, but about wrestling more controls over fiscal and financial resources from Rome. Both regions are net contributors to the Italian State and are full of long run resentment over the alleged waste of these resources. Both regions want more money to stay local.

    This post was published at True Economics on October 23, 2017.


  • Soros, Kellogg, Ford: Donor List Of Anti-Trump ‘Resistance’ Group Revealed

    The Center for Community Change Action (CCCA), a Washington, D. C.-based 501 (c)(3) progressive community organizing group and contributor to the anti-Trump “Resistance” movement, counts some of the most prominent American families among its impressive donor base. Unfortunately, at least for those donors, their staggering contributions to the secretive group have just been revealed by The Washington Free Beacon and include massive multi-million dollar grants from George Soros, the Kellogg Foundation and the Ford Foundation, among others.
    The Free Beacon has obtained the group’s unredacted 2015 tax forms that shed light on its funders, who provide millions of dollars in assistance. The group appears to rely heavily on a few major liberal foundations, organizations, and unions.
    The Center for Community Change’s largest contribution was $3,000,000 from the W. K. Kellogg Foundation, which was initially created by Will Kellogg, the food manufacturer and founder of Kellogg Company. The Ford Foundation, which was first created by the founders of the Ford Motor Company, added a $2,350,000 donation. The Open Society Foundation, a foundation run by liberal billionaire mega-donor George Soros, gave $1,750,000 to the Center for Community Change.
    Other donors to the organization include the California Endowment, which gave $524,500; the Marquerite Casey Foundation, which gave $515,000; Fidelity Charitable Gift, which donated $505,100; and the National Immigration Law Center, which gave $316,000.

    This post was published at Zero Hedge on Oct 4, 2017.


  • “Japan Has No Illusions That Rates Will Ever Rise”: Is This What The Endgame Looks Like

    Japan Debt Mountain: does it matter?
    For almost 25 years, Japan’s debt burden has been the poster child of what would happen to others if capital is misallocated, bubbles burst and then clearance and required reforms are either delayed or not implemented. Indeed, at more than 5x GDP, Japan is shouldering a greater debt burden than other key jurisdictions. It is also facing severe demographic challenges, while its labour market remains constrained and the state maintains a sway over the private sector. Since WW II, Japan has always been more statist than most other major economies, with Korea and China subsequently following Japan in developing a similar model. The conventional argument has been that Japan’s debt would ultimately crush its economy and severely crimp public sector spending, while the private sector would be unable to adjust, and hence lose competitiveness. Eventually, the private sector might lose confidence and stop repatriating cash and the country would then suffer from massive capital outflows.
    Not only were these dire projections wrong for decades, but as the rest of the world joined Japan in secular stagnation and unorthodox monetary policies, it is no longer perceived as an exception but rather as a pointer to the future. Japan’s success in navigating disruption, deep financialization and permanent overcapacity is now studied and imitated. While there are local nuances, Japan shows the way forward. QEs associated with the Fed were invented in Japan more than a decade earlier. The same applies to fiscal stimuli, collapsing velocity of money and strong disinflation. Whatever are the policies, Japan has already tried them. Japan is far more advanced in fully monetizing its debt by utilizing multiple asset classes, from bonds to equities. It also accepts that normalization is not feasible, and unlike the Fed, it has no illusions that rates could ever rise or that immigration and deep labour market reforms are either possible or desirable. When the US is focusing on returning outdated factories, Japan is building for the future, when labour inputs would no longer be the key.

    This post was published at Zero Hedge on Sep 23, 2017.


  • Trump Kicks Off Game of Chicken Over Border Wall

    The question is will he do it?
    During a rally in Arizona, President Trump threatened to let the government shut down if Congress doesn’t come through with funding to build a wall along the US-Mexican border.
    If we have to close down our government, we’re building that wall. We’re going to have our wall. The American people voted for immigration control. We’re going to get that wall.’
    The price of gold jumped on safe-haven buying after the president’s comments. Most analysts had considered the threat of a government shutdown relatively remote, but Trump’s emphatic pronouncement suddenly kicked off a game of chicken.
    Congress must put together a funding deal, and the president must sign it, by a Sept. 30 deadline. If Congress doesn’t get a deal done, or if the president vetoes it, the government will go into shutdown mode. Treasury Secretary Steven Mnuchin has warned the US could go into default by October if Congress doesn’t act.
    Republicans need support from the other side of the aisle to get a deal done. But congressional Democrats have pledged to reject any spending package that includes funding for a border wall.

    This post was published at Schiffgold on AUGUST 23, 2017.


  • Bannon: “The Trump Presidency That We Fought For Is Over”

    / Aug 19, 2017 12:51 PM
    In his first interview shortly after the White House announced that it was parting ways with Trump’s chief strategist, Steve Bannon told the Weekly Standard on Friday afternoon that “the Trump presidency that we fought for, and won, is over.” After confirming his departure Bannon said that ‘we still have a huge movement, and we will make something of this Trump presidency. But that presidency is over. It’ll be something else. And there’ll be all kinds of fights, and there’ll be good days and bad days, but that presidency is over.’
    In his interview with the conservative publication, Bannon predicted that in the wake of his departure, Trump’s administration would “be much more conventional” as his absence from the White House would make it ‘much harder’ for Trump to pave a way forward on issues like ‘economic nationalism and immigration.’ He also predicted that republicans would “moderate” Trump:
    ‘I think they’re going to try to moderate him,’ he says. ‘I think he’ll sign a clean debt ceiling, I think you’ll see all this stuff. His natural tendency – and I think you saw it this week on Charlottesville – his actual default position is the position of his base, the position that got him elected. I think you’re going to see a lot of constraints on that. I think it’ll be much more conventional.’
    In Bannon’s view, his departure is not a defeat for him personally but for the ideology he’d urged upon the president, as reflected in Trump’s provocative inaugural address in which he spoke of self-dealing Washington politicians, and their policies that led to the shuttered factories and broken lives of what he called ‘American carnage.’ Bannon co-authored that speech (and privately complained that it had been toned down by West Wing moderates like Ivanka and Jared).

    This post was published at Zero Hedge by Tyler Durden.


  • The Stock Market Is Confident; Business Leaders, Not So Much

    As the stock market repeatedly set new highs this year, confidence in the President was eroding among the general public. That erosion of confidence now extends to dozens of the top corporate leaders in America.
    There is apparently a new social standard in America. When it was revealed in the final weeks of Trump’s Presidential bid that he had stated on video that he could sexually assault women (‘grab ’em by the p*ssy), it was not a serious impediment for the top executives of the largest corporations in America to continue to pander to Trump, take top posts in his administration and serve on his business advisory councils.
    Even though it is generally accepted that women ‘drive 70-80% of all consumer purchasing, through a combination of their buying power and influence’ the male executives that sit atop the most famous brands in America had no trouble hitching their wagon and their brands to Donald Trump’s chaotic White House.
    Even after Trump’s highly controversial Executive Order on immigration in January, there was only mild whimpering from most of the suits in the corner offices – with a few exceptions. Google co-founder, Sergey Brin, did join protesters at San Francisco International Airport while noting that he was protesting in his personal capacity as a refugee, not in his official Google capacity. Apple CEO Tim Cook and Microsoft CEO Satya Nadella expressed strong objections to the Trump order. Sam Altman, President of Y Combinator, also protested at the San Francisco airport and released a statement on his blog. He wrote that Trump’s ‘precedent of invalidating already-issued visas and green cards should be extremely troubling for immigrants of any country or for anyone who thinks their contributions to the US are important. This is not just a Muslim ban. This is a breach of America’s contract with all the immigrants in the nation.’

    This post was published at Wall Street On Parade on August 17, 2017.


  • Agricultural Work Visas Soar As Farmers Struggle With Labor Shortages Amid Immigration Crackdown

    Ask any farmer in California what keeps them up at night and we would guess that nearly all of them would list ‘labor shortages’ and ‘water access’ as their top two concerns. Ironically, despite over 90 million American citizens choosing to sit out of the labor force and California having one of the highest minimum wage rates in the country, farmers in the Golden State struggle every year to find enough labor to keep fruits and vegetables from literally rotting on the vine.
    Meanwhile, as the new administration promises to crack down on illegal immigrants, farmers are feeling the labor shortages in 2017 more than ever. As the Wall Street Journal notes today, many farmers have turned to the H-2A agricultural visa program to recruit temporary workers from Mexico but the process is generally described as “bureaucratic, costly and time-consuming.”

    This post was published at Zero Hedge on Aug 8, 2017.


  • Greenspan Fears Imminent Stagflationary Slump, Warns The Bubble Is In Bonds Not Stocks

    Former Fed chair Alan Greenspan blasphemously warned a year ago of an “imminent crisis”:
    “This is the worst period, I recall since I’ve been in public service. There’s nothing like it, including the crisis – remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away. I’d love to find something positive to say.”
    Adding that fundamentally it is not so much an issue of immigration, or even economics, but unsustainable welfare spending, or as Greenspan puts it, “entitlements.”

    This post was published at Zero Hedge on Aug 1, 2017.


  • Wall Street Efforts to Improve Its Image Fail to Sway Americans

    Bad news for financial titans like JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s Lloyd Blankfein: Most Americans hold unfavorable views of Wall Street banks and corporate executives, and distrust billionaires more than they admire them.
    Despite efforts by Wall Street firms to regain trust since the 2008 financial crisis, fewer than a third of Americans view the industry positively — unchanged from 2009, according to the latest Bloomberg National Poll.
    Dimon, 61, and Blankfein, 62, each chief executive officers for more than a decade, have sought to influence the public policy debate on issues including infrastructure investment, regulation, education, immigration and corporate tax reform. Both were revealed as billionaires in 2015, according to the Bloomberg Billionaires Index.
    Yet the poll shows that Americans are much more likely to distrust billionaires than admire them, 53 percent to 31 percent. And just 31 percent look favorably on corporate executives and Wall Street.
    Big banks ‘are still pushing for deregulation and they are going to get us right back to where we were with the financial crisis,’ said poll participant Chad Boyd, 36, an independent voter and information technology worker who lives in Louisville, Colorado, about 10 miles east of Boulder.

    This post was published at bloomberg


  • JULY 10/GOLD AND SILVER REBOUND/FRIDAY WITNESSES AN ASTRONOMICAL VOLUME OF 165,000 CONTRACTS/ITALY AND GERMANY BECOMES OUTRAGED WITH MIGRANTS: ITALY WANTS TO END IMMIGRATION;GERMANY WITNESSES THE…

    GOLD: $1213.90 UP $3.50
    Silver: $15.71 UP 28 cent(s)
    Closing access prices:
    Gold $1214.00
    silver: $15.66
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1211.73 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1211.50
    PREMIUM FIRST FIX: $10.23
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1215.44
    NY GOLD PRICE AT THE EXACT SAME TIME: $1208.95
    Premium of Shanghai 2nd fix/NY:$6.49
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1207.55
    NY PRICING AT THE EXACT SAME TIME: $1221.30
    LONDON SECOND GOLD FIX 10 AM: $1211.95
    NY PRICING AT THE EXACT SAME TIME. $1209.75 ???
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ.
    TOTAL NOTICES SO FAR: 62 FOR 6200 OZ (.1928 TONNES)
    For silver:
    JULY
    61 NOTICES FILED TODAY FOR
    305,000 OZ/
    Total number of notices filed so far this month: 2323 for 11,615,000 oz

    This post was published at Harvey Organ Blog on July 10, 2017.


  • “Technology Is Replacing Brains As Well As Brawn” – Challenging The ‘Official’ Automation Narrative (& Social Order)

    Academics and economists have repeatedly underestimated the impact that immigration and automation would have on the labor market. As data on productivity gains and labor-force participation clearly show, the notion that innovation ultimately creates jobs by allowing workers to focus on higher-level problems is an illusion. If it were true, then why aren’t we already seeing more of the 20 million prime-age men who have inexplicably dropped out of the labor force welcomed back in?
    ***
    As we’ve noted time and time again, after decimating American manufacturing jobs in the 1990s, automation is now coming for service-industry workers like those in the retail and food-service industries. Earlier this week, we shared an analysis from Cowen that showed new kiosks being adopted by McDonald’s will result in the destruction of 2,500 jobs at its US eateries. And now, Bloomberg has published a ‘quick take’ questioning this ‘official’ narrative and pointing out the very real carnage that service sector workers are already facing. In it, the reporters noted how economists have repeatedly misjudged how our capacity to innovate would impact the labor market. For example, 13 years ago, two leading economists published a paper arguing that artificial intelligence would never allow a driverless car to safely execute a left turn because there are too many variables at work. Six years after that, Google proved it could make cars fully autonomous, threatening the livelihood of millions of taxi and truck drivers. And now Google, Uber, Tesla and the big car manufacturers are all exploring and testing this technology. Ford has said it plans to introduce a fully autonomous car by 2021.

    This post was published at Zero Hedge on Jun 26, 2017.


  • What If Taxpayers Could Choose if Taxes Went to the State Level or Federal Level?

    In recent years, we’ve examined any number of ways of decentralizing the American political system. These step-by-step moves can include decentralizing the monetary system, decentralizing the military, decentralizing immigration policy, and decentralizing elections.
    Most recently, we looked at decentralizing the welfare state, and found that each US state is more than wealthy enough and big enough to run its own welfare state at the state level without any need of planning or centralization through Washington, DC. Whether or not one thinks a welfare state is a good or necessary thing, the fact remains the US government is not an essential part of the equation.
    One piece of information that stood out the state-level analysis of tax revenue: the amount of taxes collected by the federal government far outpaces that collected at the state level. Nationwide, state-level tax bills are 28 percent the size of the federal tax bill. In a midsize state like Georgia, for example, residents pay 21 billion in taxes to the state government. However, those same residents pay a total of 86 billion to the federal government. The federal tax bill for Georgians is more than four times the size of the state tax bill.1

    This post was published at Ludwig von Mises Institute on June 16, 2017.


  • U.S. Economy at Risk from Trump’s Poll Numbers

    A new poll is out from the Associated Press/NORC Center for Public Affairs Research at the University of Chicago. It doesn’t bode well for Donald Trump’s presidency nor for the U. S. economy. Despite Wall Street’s century-old propaganda campaign to convince Washington that it controls the levers to economic growth in the U. S., and thus must be placated on its every desire, informed citizens understand that economic power rests in the hands of the consumer in a nation where two-thirds of GDP is consumer spending.
    Likewise, consumer confidence in the President of the United States impacts one’s willingness to open the purse strings and buy. The thinking is: if the country is headed in the wrong direction, how safe is my job? Perhaps I should stop spending and put money away for a rainy day.
    The new poll shows that 64 percent of Americans disapprove of the job Trump is doing. Particularly troubling for a democracy, 65 percent say he doesn’t respect the country’s institutions and traditions. On specific issues, 66 percent disapprove of his handling of health care; 64 percent disapprove of his handling of climate change; 63 percent disapprove of his handling of foreign policy; 60 percent disapprove of his handling of immigration and 55 percent disapprove of how he’s handling the economy.

    This post was published at Wall Street On Parade on June 15, 2017.


  • Simple (economic) Math

    The essence of capitalism is not strictly capital. In the modern sense, the word capital has taken on other meanings, often where money is given as a substitute for it. When speaking about things like ‘hot money’, for instance, you wouldn’t normally correct someone referencing it in terms of ‘capital flows.’ Someone that ‘commits capital’ to a project is missing some words, for in the proper sense they are ‘committing funds to capital.’
    Just as the focus has been removed from actual capital, and thus a distortion of capitalism, one of the effects has been to devalue the other component that actually makes it all work. Rising living standards were never the fruit of capital alone, as the real strength was in the combination of it with labor. Over the last few decades, the real capital flow has been with eurodollar finance to the offshoring of productive capacity.
    By simple mathematics, businesses are no longer willing to afford labor. Before getting to that math, however, we need to be mindful that the ‘experts’ are almost uniformly suggesting the opposite is true. Instead, we hear constantly of a labor shortage, often serious, whether due to Baby Boomers retiring, lazy Americans addicted to heroin, or the politics of immigration. The problem with all of these is wages, meaning that if there was a shortage, wages would be rising and rising rapidly.
    The New York Times on Sunday published yet another of this type of account (they are becoming more frequent), blatantly headlining the piece, Lack of Workers, Not Work, Weighs on the Nation’s Economy. Focusing on anecdotes from Utah, you get all the familiar but unbacked tropes about the travails of employers who have things to do but can’t do them because they can’t find anyone.

    This post was published at Wall Street Examiner on May 26, 2017.


  • Trump Talks “Trumponomics” With The Economist

    President Trump sat down with The Economist last week to talk trade, immigration, taxes, and health care and the transcript is chock-full of ‘Trumpisms’ that should not go unnoticed. Here are just a few of our favorite exchanges:
    On NAFTA, apparently ‘big’ is not an appropriate adjective to describe the renegotiation that will take place…‘massive’ and/or ‘huge’ are far better descriptors:
    It sounds like you’re imagining a pretty big renegotiation of NAFTA. What would a fair NAFTA look like?
    Big isn’t a good enough word. Massive.
    Huge?
    It’s got to be. It’s got to be.
    What would it look like? What would a fair NAFTA look like?
    No, it’s gotta be. Otherwise we’re terminating NAFTA.
    Some people think this is a negotiating tactic – that you say very dramatic things but actually you would settle for some very small changes. Is that right?
    No, it’s not, really not a negotiation. It’s really not. No, will I settle for less than I go in with? Yes, I mean who wouldn’t? Nobody, you know, I always use the word flexibility, I have flexibility. [Goes off the record.] [Our] relationship with China is long. Of course by China standards, it’s very short [laughter], you know when I’m with [Xi Jinping], because he’s great, when I’m with him, he’s a great guy. He was telling me, you know they go back 8,000 years, we have 1776 is like modern history. They consider 1776 like yesterday and they, you know, go back a long time. They talk about the different wars, it was very interesting. We got along great. So I told them, I said, ‘We have a problem and we’re going to solve that problem.’ But he wants to help us solve that problem.

    This post was published at Zero Hedge on May 11, 2017.


  • Italian Prime Minister Secretly Meets With George Soros In Rome Amid Migrant Transport Scandal

    In the past few weeks, the transport of migrants from the African shores has become a case of national importance for Italy, and is now under investigation from the prosecutor of Catania, who recently testified to the Defence Committee of the Italian Senate and will meet soon with the Superior Council of the Magistrates.
    Harsh criticism of the activities of the NGOs has come from opposition parties Forza Italia, Lega Nord and even Movimento 5 Stelle, normally more neutral on immigration issues, while Prime Minister Gentiloni has opted to let the judicial system run its course.
    Yet, a new element will further exacerbate the situation; George Soros, a billionaire who is incredibly active politically on both sides of the Atlantic, met in secrecy with Prime Minister Gentiloni, less than a week after the latter had commented on the NGOs activities. The meeting was not listed on the website of the Italian government as official and its timing is at the very least suspicious.
    George Soros had penned multiple arguments in favour of immigration, suggesting that Europe should welcome ‘at least one million refugees a year’ and that the EU should create EU-bonds to support attendant expenses.

    This post was published at Zero Hedge on May 4, 2017.


  • Key Highlights From Trump’s AP Interview

    First it was his interview with the FT, in which Trump warned China that the US was ready to take North Korea unilaterally; this was followed by the far more dramatic interview in the WSJ where the president flipped on his strong dollar policy, and reversed his stance on interest rates, Janet Yellen and the the Ex-Im bank.
    Today, Trump followed up with another interview this time with the AP. While the soundbites distributed by the press focus tend to focus more on Trump’s media habits – largely irrelevant for markets – the highlights below taken from the transcript (link) are far more relevant to policy and risk assets, especially the last bullet point, as it pertains to Steve Bannon.
    EUR, EGP. Trump speaks of their first visit. He didn’t expect to have “chemistry” with her given they are at odds over Nato and immigration, but they had “unbelievable chemistry.” Same can be said for Egyptian President el-Sissi and Chinese President Xi. Government shutdown takes precedence over healthcare reform. Not many details on the latter, while he doubles down that Democrats must accept his wall. AP: Obviously, that’s going to come in a week where you’re going to be running up against the deadline for keeping the government open. If you get a bill on your desk that does not include funding for the wall, will you sign it?

    This post was published at Zero Hedge on Apr 23, 2017.


  • Visualizing The Collapse Of The Middle Class In 20 Major U.S. Cities

    When future historians look back at the beginning of the 21st century, they’ll note that we grappled with many big issues. They’ll write about the battle between nationalism and globalism, soaring global debt, a dysfunctional healthcare system, societal concerns around automation and AI, and pushback on immigration. They will also note the growing number of populist leaders in Western democracies, ranging from Marine Le Pen to Donald Trump.
    However, as Visual Cpitalist’s Jeff Desjardins notes, these historians will not view these ideas and events in isolation. Instead, they will link them all, at least partially, to an overarching trend that is intimately connected to today’s biggest problems: the ‘hollowing out’ of the middle class.
    VISUALIZING THE COLLAPSE OF THE MIDDLE CLASS
    The fact is many people have less money in their pockets – and understandably, this has motivated people to take action against the status quo.
    And while the collapse of the middle class and income inequality are issues that receive a fair share of discussion, we thought that this particular animation from Metrocosm helped to put things in perspective.

    This post was published at Zero Hedge on Apr 22, 2017.