Category: Economics

July 22nd, 2017 by Miasnow


The European Union is powerless to stop Britain starting to strike up new relationships around the world, top European law academics have said days before Britain’s trade talks with the United States are due to begin.

Britain’s Secretary of State for International Trade Dr Liam Fox made the announcement that a British delegation would be meeting with their United States counterparts from the 24th of July on live television last month.

But left wing commentators including British news publications were quick to point out that European Union rules prohibit the United Kingdom from conducting trade talks with external nations while the country is still an EU member state.

Yet new comments by academics including Cambridge Professor of European Union Find Out More…

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July 21st, 2017 by Miasnow


President Donald Trump’s new communications director Anthony Scaramucci once tweeted that trying to “fight globalization is counterproductive.”

In March of 2016, after linking to articles about Chinese manufacturers moving jobs to South Carolina and Mexico, he said the “takeaway” from the articles should be, “Trying to fight globalization is counterproductive. Currencies settle the score & free trade fosters greater global econ stability”:

Trump’s former press secretary Sean Spicer, who came from the Republican National Committee and had worked for various GOP establishment entities, resigned on Friday after Scaramucci officially became the White House’s communications director. The New York Times‘ Mark Leibovich described Spicer as someone who, in the Find Out More…

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July 21st, 2017 by Miasnow


Agriculture companies in California are being forced to develop and deploy labor-saving machinery and techniques because reduced illegal immigration is allowing American farmworkers raise their poverty-level wages, according to Los Angeles Times.

But the double-dose of good news — more productive technology and higher American wages — is threatened by farm industry lobbyists who are pushing Congress to approve a much greater inflow of cheap-labor H-2A visa workers. An amendment approved last week would allow many more farm companies to ignore Americans workers and instead to hire cheap-labor from foreign-labor brokers.

According to the Los Angeles Times:

The $47-billion agriculture industry is trying to bring technological innovation up to warp speed before it runs out of low-wage immigrant workers.

California will have to remake its fields like it did its factories, Find Out More…

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July 21st, 2017 by Miasnow


President Donald Trump’s White House has, according to Office of Management and Budget (OMB) Director Mick Mulvaney, removed or withdrawn about 860 Obama administration-era federal regulations.

The massive decrease in regulations is part of the Trump administration’s overall deregulatory agenda, Mulvaney said during a press briefing Thursday.

Updating reporters on President Trump’s 2-for-1 policy for federal regulations — which requires cutting two regulations for every one new implemented regulation — Mulvaney said we are at 16-to-1, Breitbart News’s Michelle Moons reports.

Speaking to the “slow accretion, that slow cancer that can come from regulatory burdens that we put on our people,” the OMB director said during the “last six months here, the Obama Administration put on over six billion dollars in new regulatory burden,” adding, “We had zero.”

Mulvaney Find Out More…

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July 21st, 2017 by Miasnow


WASHINGTON, D.C. — The Democrats have a new slogan and economic agenda: “A Better Deal: Better Skills, Better Jobs, Better Wages.”

Minority leaders Sen. Chuck Schumer (D-NY) and Nancy Pelosi (D-CA) have led the charge for this following the absence of a strategy to win back power after realizing that attacking President Donald Trump is not working.

Politico, which first reported on this, suggested the “Better Deal” hearkens back to President Franklin Roosevelt’s “New Deal,” which was created in response to the drought and dust storms of the 1930s that escalated into an environmental disaster.

According to Politico, “The slogan, which is still being polled in battleground House districts, aims to convince voters that Democrats have more to offer than the GOP and the self-proclaimed deal-maker in the White House.”

“Democrats will Find Out More…

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July 21st, 2017 by Miasnow


Participation in the food stamp program took a dive to the lowest level it has been in seven years, according to new data from the U.S. Department of Agriculture (USDA).

USDA statistics on Supplemental Nutrition Assistance Program (SNAP) participation showed that 42,609,852 people in the U.S. took part in the food stamp program in fiscal year (FY) 2017, the lowest level it has been since 2010 when 40,302,000 people enrolled in the program.

Food stamp usage has been on a steady decline after 2013, when enrollment in the government program swelled to 47.6 million, the highest amount it has ever been since the program’s inception.

The increase in the number people receiving food stamps during that period can be attributed to the Obama administration’s effort to allow those with higher incomes Find Out More…

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July 20th, 2017 by Miasnow


WASHINGTON, D.C. — Office of Management and Budget Director Mick Mulvaney highlighted and defined the “next iteration” of Reaganomics which he introduced as “MAGAnomics” during Thursday afternoon’s White House press briefing.

He spoke of times of stagflation in America that were met with what became known as Reaganomics, “a monetary policy to fix inflation, tax cuts, spending restraints, and a little bit of regulatory relief.”

Mulvaney then jumped to speak of the “next iteration” of that plan. He stated it was time for this new plan after more than ten years have elapsed since there was a healthy American economy, defined at a growth rate of three percent or more.

Mulvaney deemed this new plan, “MAGAnomics.” He defined it Find Out More…

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July 20th, 2017 by Miasnow


Sen. Joe Manchin (D-WV), a West Virginia Democrat up for re-election next year, is urging President Donald Trump’s administration to block the sale of the Chicago Stock Exchange to Chinese investors.

Manchin’s move comes via a letter to Securities and Exchange Commission (SEC) chairman Jay Clayton and commissioners Kara M. Stein and Michael S. Piwowar, a letter provided exclusively to Breitbart News by Manchin’s office ahead of its public release.

“Our government considers our stock exchanges—a key part of our national financial market infrastructure—to be ‘self-regulatory organizations,’ and presumes that each exchange is fully capable of managing the risk inherent in its operations,” Manchin said in a statement to Breitbart News. “The Chinese government’s continued rejection of Find Out More…

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July 19th, 2017 by Miasnow


Silicon Valley early-stage venture capital (VC) funding has been cut in half in the last two years, as venture capitalists are stuck with investments in mature companies that are not able to go public.

Pitchbook, which monitors venture capital fundraising and commitments, reported that startup “angel” fundings of 500,000 or less, plus early-stage fundings of $1 million or less, have been cut in half over the last eight quarters.

U.S. venture investment activity peaked between 2014 and early 2016. Although there were 1,958 companies that received $21.78 billion in venture funding for the second quarter of 2017, 10 “mega-financings” accounted for $4.3 billion, or 19.6 percent, of total invested dollars. With another 34 venture financings of at least $100 million, the percentage of venture capital angel and early-stage Find Out More…

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July 19th, 2017 by Miasnow


As part of its massive nationwide program of job cuts, cereal maker Kellogg’s has announced that another 76 employees will lose their jobs in Maryland.

The breakfast food giant announced that it will close down its distribution center in Hagerstown, according to the Herald-Mail.

The facility located at 11841 Newgate Boulevard in the Hunters Green II Business Park is only one of the 39 distribution centers being shut down as part of a program dubbed “Special K” by the Michigan-based company.

“While this is the right move for the company to achieve our long-term objectives, it was a difficult decision because of its impact on employees,” Kellogg’s spokeswoman Kris Charles told the paper in February.

Kellogg’s told the state employment office responsible to regulate mass layoffs of its move on May Find Out More…

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