Hartford is the latest example of a fiscal death spiral. July 1 is the day when it runs out of both airspeed and altitude.
In the same battle between the free market and the regulators that has been going on for centuries, the European Court of Justice will decide if Uber will be regulated in the same way that taxi cartels are regulated, thereby effectively ending the service.
Complacency among investors is high and getting higher. Is this a signal for higher stock prices? Or not?
The report reflects far more than just temporal ebullience over potential strategies promised by the president to get the economy growing again.
The “Trans-Pacific Partnership” (TPP) fell almost immediately. But now, everybody is wondering what will happen next on one of the most disastrous “free-trade” schemes to be imposed on America. On the campaign trail, then-candidate Donald Trump's opposition to the controversial North American Free Trade Agreement (NAFTA) and the globalist ideology underpinning it were made crystal clear. Among other criticism, Trump blasted NAFTA as the “worst trade deal in the history of the world.” He vowed to “rip up” the deal, too. But after threatening last week to withdraw from it, President Trump has announced his intent to try to renegotiate it first. If that fails, he said, the U.S. government will formally withdraw from the scheme.
Unless Big Taxi can wriggle out from under the rules that once protected them from competition, it wll soon be called Little Taxi.
The jobs market is cooperating with President Trump, adding more than a million jobs since his election.
Under the law those reaching age 70 and a half must start taking their “required minimum distributions” (RMDs) from their various tax-deferred accounts. These include IRAs, 401Ks, profit-sharing plans, and SEPs. The trouble is that there are so many of them, and they control so many assets, that their RMDs are going to put enormous pressure on the stock market.