Trump claims a victory as Ford Motor Company will keep producing Lincoln MKCs in Kentucky instead of moving that operation to Mexico.
As part of the globalist establishment's ongoing push to create a totalitarian “cashless society” where every transaction can be tracked and controlled, Indian authorities last week suddenly demonetized the two largest denomination bills in circulation. In Sweden, where government already tracks and monitors almost everything, central bankers are plotting the creation of a “digital currency” that could be completely controlled — along with those who use it — by authorities. And in Australia, establishment-minded mega-banks are plotting with politicians to force everyone into a United Nations-backed “cashless society” where banks and government have total control over the population. In each case, different excuses have been used. But taken together, it is obvious that something major is going on, worldwide. Liberty and privacy are literally at stake.
“I think of this job as being a relay runner,” President Obama says regarding the transfer of power to the new president. But what he understandably does not say is that he will be handing over to President-elect Trump a basket of economic deplorables.
The Energy Independence and Security Act of 2007 required oil refiners to add ethanol to their product or buy ethanol credits. Those credits are now being traded and reaping hundreds of millions of dollars in gains for the big oil companies.
Though many analysts are predicting a big decline in the stock market, a repeat of Black Monday is highly unlikely. Not impossible, just highly unlikely.
On Friday, the Treasury Department published the final revenue and spending numbers for the federal government for Fiscal Year 2016, which ended on September 30. According to Treasury's report, spending increased significantly (by nearly five percent) over the previous year, to more than $3.8 trillion, while revenues remained essentially flat from the year before, at $3.25 trillion. That left a shortfall of approximately $600 billion, forcing the government to borrow 15 cents of every dollar it spent last year. And the two presidential candidates have remained disturbingly silent about the issue.
The economic growth rate during each of the last eight presidential administrations (beginning with Eisenhower's) was lowest during Obama’s term in office, January 2009 through October 2015, an era of multiple tax hikes and pervasive regulatory expansion.
The Cost of Living Adjustment (COLA) announcement to be made next week has stirred offerings of how to "fix" Social Security.