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Latest Articles: Business/Finance
Former GM exec calls Tesla a 'losing enterprise,' and says it's 'going out of business'
Post Date: 2017-11-18 08:25:26 by BTP Holdings
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Former GM exec calls Tesla a 'losing enterprise,' and says it's 'going out of business' Bryan Logan Tesla TSLA Tesla 315.05 2.55 (+0.80 %) Disclaimer Get real-time TSLA charts here » Former General Motors executive Bob Lutz panned Tesla less than 24 hours after the electric-car company revealed its first big rig truck and a new roadster. Lutz called Tesla a "losing enterprise" and said it's "going out of business." Tesla has had problems of late, both on its assembly lines and in the front office. Bob Lutz, the former General Motors executive, scoffed at Tesla on Friday, calling the electric-car company a "losing ...
Amazon seller loses $400,000 in sales to a rival's attack
Post Date: 2017-11-17 20:02:05 by BTP Holdings
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Amazon seller loses $400,000 in sales to a rival's attack CNBC Ari Levy 2 hrs ago You can buy this private island less than an hour from NYC. But it isn't cheap. David Damavandi should be an Amazon success story. Using the company's marketplace, the 31-year-old entrepreneur built a skin care business to more than $10 million in annual revenue in seven years, thanks in large part to having the most popular facial steamer on Amazon.com. But rather than gearing up for Cyber Monday and a potential blockbuster holiday season, Damavandi's Los Angeles company, Pure Daily Care, is in crisis. For the bulk of 2017, he says, he's been under assault by a rival brand named ...
Auto-Loan Subprime Blows Up Lehman-Moment-Like
Post Date: 2017-11-16 06:53:09 by Horse
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But there is no Financial Crisis. These are the boom times. Given Americans’ ceaseless urge to borrow and spend, household debt in the third quarter surged by $610 billion, or 5%, from the third quarter last year, to a new record of $13 trillion, according to the New York Fed. If the word “surged” appears a lot, it’s because that’s the kind of debt environment we now have: Mortgage debt surged 4.2% year-over-year, to $9.19 trillion, still shy of the all-time record of $10 trillion in 2008 before it all collapsed. Student loans surged by 6.25% year-over-year to a record of $1.36 trillion. Credit card debt surged 8% to $810 billion. “Other” surged 5.4% ...
Slush fund, pay-to-play Clinton Foundation facing financial meltdown
Post Date: 2017-11-13 19:21:23 by Ada
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Big Surprise: World’s largest corporations end contributions. It should come as little surprise to see a new report detailing how the slush fund Clinton Foundation is now under severe financial strain after the world’s largest corporations are ending their contributions to the “charity.” And why would anyone in their right mind give a cent to the foundation which was merely a money laundering operation built on the Clinton’s influence and access in Washington DC. Now that the presidential loser Hillary Clinton, is not sitting in the White House, the Clinton Foundation has no service to offer its “contributors.” A new report by the International ...
/Bitcoin crash: Cryptocurrency loses third of its value ahead of Sunday split
Post Date: 2017-11-12 06:41:12 by Tatarewicz
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RT...The world's most popular cryptocurrency bitcoin dropped below $6,000 on Sunday, losing over 30 percent of its value since hitting an all-time high set earlier this week. Bitcoin was trading as low as $5,519 on Sunday, plunging over $2,300 from its Wednesday record high, according to data compiled by industry website Coinmarketcap. Later in the day it regained some of its losses, trading above $6,000 by 9:30am GMT. q#Bitcoin hits record high of $7,888 after hard fork update suspended https://t.co/gwVNSU8wo8pic.twitter.com/DTs35uqqfa — RT (@RT_com) November 8, 2017Q On Wednesday, the world’s most valued virtual currency touched $7,888 on news that a controversial software ...
Apple finds new offshore haven to stash its cash, avoiding billions in tax
Post Date: 2017-11-08 07:25:01 by Tatarewicz
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RT... The world’s largest company Apple, whose market cap is approaching $1 trillion, has found a new exotic location to shelter its money from tax authorities. As leaked documents reveal, Apple has docked in Jersey. Read more Apple biggest tax avoider in US stashing $215bn offshore The move to the tax haven of Jersey involved two of Apple’s most important subsidiaries. One of them is believed to have access to the more than $250 billion of the company’s cash, according to the so-called Paradise Papers, obtained by the German newspaper Sueddeutsche Zeitung. The paper shared it with the International Consortium of Investigative Journalists and some media outlets. The ...
"Janet Yellen Powell Puts" On Some Pants And A Tie
Post Date: 2017-11-06 09:23:56 by Ada
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It can’t get any worse than this. Jerome Powell is a Wall Street-coddling Keynesian and Washington lifer who passes for a Janet Yellen replica – that is, save for his tie and trousers and his as yet underdeveloped capacity to whine pedantically. During his years on the Fed since May 2012, Powell has voted approximately 44 times to drastically falsify interest rates and to recklessly and fraudulently monetize trillions of the public debt. That is, Powell has been all-in for a destructive central banking regime that is literally asphyxiating capitalist prosperity in America. We will get to the latter in more detail momentarily, but just consider the plight of bank account savers ...
Mexico discovers ‘major’ oil find
Post Date: 2017-11-05 02:28:29 by Tatarewicz
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TaipeiTimes...President Enrique Pena Nieto on Friday said state oil company Petroleos Mexicanos (Pemex) has made a “major” oil and gas discovery with an estimated 1.5 billion barrels of crude equivalent, its largest onshore find in 15 years. The new field, dubbed Ixachi-1, is located in the eastern state of Veracruz near existing Pemex infrastructure, meaning it can be tapped “relatively soon, and at low costs,” Pena Nieto said. The estimated volume makes it “the largest onshore find the company has made in the past 15 years,” he said to applause from invitees at an event in the central state of Hidalgo. The field’s proven, probable and possible ...
Federal Reserve nominee Jerome Powell is philosophically closer to Schumer than Trump. And that’s a problem
Post Date: 2017-11-04 10:37:29 by Ada
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President Trump nominates Jerome Powell for Fed chairman President urges the Senate to swiftly confirm Powell to replace Janet Yellen when her term ends in February. By nominating Jerome Powell as chairman of the Federal Reserve, President Trump is elevating a nominal Republican but also an Obama administration appointee to the chairmanship of our nation’s central bank. Many consider the chairmanship to be the second-most powerful position in the U.S. government. This is not the first time something similar has happened. In 2006 President George W. Bush appointed Ben Bernanke, also a nominal Republican at the time, who on leaving the Federal Reserve registered as a Democrat. No ...
Chinese bus maker Yutong launches new vehicles in Cuba
Post Date: 2017-11-01 08:05:25 by Tatarewicz
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Xinhua| Editor: Liangyu Chinese bus maker Yutong on Tuesday presented to the Cuban market new models of buses, generating great expectations among locals and government officials at the 35th Havana International Trade Fair, the island's most important business event (Xinhua/Joaquin Hernandez) HAVANA, Oct. 31 (Xinhua) -- Chinese bus maker Yutong on Tuesday presented to the Cuban market new models of buses, generating great expectations among locals and government officials at the 35th Havana International Trade Fair, the island's most important business event. Dozens of people attending the fair, Yutong and Cuban government officials participated in the unveiling of the vehicles, ...
Canadian certified gold bar exposed as fake: how many more are out there?
Post Date: 2017-10-31 07:31:42 by Ada
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The Royal Canadian Mint has launched an investigation into the sale of a gold wafer that turned to be a fake. The one-ounce piece of gold was sealed and marked with proper mint stamps. On October 18, Ottawa jeweler Samuel Tang purchased a wafer, which was supposed to be 99.99 percent pure gold from the Royal Bank of Canada (RBC) branch located across the street from his shop. Tests carried out by the jeweler apparently revealed the small bar contained no gold. The wafer was hard to roll, snapped instead of being easily bent and failed an acid test. “Who is going to make sure those are real? I am worried there are more of those out there, and no one knows,” Tang told ...
Peter Schiff: Gold Is Going To Go Way Up, Not Down (Video)
Post Date: 2017-10-28 15:06:59 by BTP Holdings
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Peter Schiff: Gold Is Going To Go Way Up, Not Down (Video) Oct. 24, 2017 7:16 AM ET| (670 followers) By SchiffGold Harry Dent is a long-time gold bear. He used to say gold would fall to $250. He's revised that prediction up a bit, but still calls for a steep decline in the price of the yellow metal, perhaps to as low as $700. Peter Schiff took on this notion during a recent interview on RT's Boom Bust and explained why he thinks Harry is wrong. The bottom line is, Dent has too much faith in the US dollar. "There's a lot of things that Harry says that I agree with, but his price target on gold is not one of them. I think he has too much confidence in the US ...
Wall Street found a parasite growing in the US economy that could spur the next recession
Post Date: 2017-10-27 10:25:20 by Ada
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Wall Street's short sellers are beginning to talk about healthcare as the next major threat to the US economy. Costs are so high that the market will have to correct sooner rather than later. Left unchecked, a market-led correction will be brutal. Imagine a parasite living in the US economy, siphoning off the cash that has powered the middle class for decades. We know it's there, but no one — on the right or the left — is talking seriously about how to slow its growth. This parasite is our healthcare system. It is already causing more damage to the economy than you know, and at least one group of people seems to have this figured out: the same Wall Street doomsayers ...
White House Applauds Vote Removing Right To Sue Banks, Credit Card Companies
Post Date: 2017-10-27 09:38:37 by Ada
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The banking industry had been lobbying hard to roll back the regulation from the Consumer Financial Protection Bureau. WASHINGTON (AP) — The White House is welcoming a congressional measure killing the ability of millions of Americans to band together to sue bank or credit card companies to resolve financial disputes in a major win for Wall Street. The Senate narrowly voted late Tuesday night to nullify the rule, with Vice President Mike Pence casting the final vote to break a 50-50 tie. The measure now goes to President Donald Trump for his signature. “President Donald J. Trump applauds the Congress for passing,” the resolution, the White House said in a statement ...
Cultural Erosion and Violence
Post Date: 2017-10-09 08:14:29 by Ada
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When you observe shootings; divorce; drug use; low savings rates; diminished work ethic; an increased focus on recreational pursuits; few or no offspring; disrespect within the family; personal mutilation; skimpy clothing; loud-mouthed arrogance; foul-mouthed internet culture; youtube skate-and-crash motifs; non-musical music; and diminished desire and ability to read, study and learn; you may think, why now? Why all at once? Do these things somehow relate to each other? How can they? How can a shooting at a concert be related to the fact that millions of homes are affected by divorce or contain mongrel children from more than one father? (By the way, the latest shooter was twice divorced, ...
Migration of the Tax Donkeys
Post Date: 2017-10-07 06:13:00 by Ada
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A Great Migration of the Tax Donkeys is underway, still very much under the radar of the mainstream media and conventional economists. If you are confident no such migration of those who pay the bulk of the taxes could ever occur, please consider the long-term ramifications of these two articles: Stanford Says Soaring Public Pension Costs Devastating Budgets For Education And Social Services Which American Cities Will File Bankruptcy Next? Allow me to summarize for those who aren't too squeamish: a lot of cities and counties are going to go broke, slashing services and jacking up taxes, all to no avail. The promises made by corrupt politicos cannot possibly be kept, despite constant ...
3 Uncommon Signs That An Economic Collapse Could Happen Soon
Post Date: 2017-10-04 18:37:39 by Horse
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As stocks continue to climb and the U.S. economy sustains its third longest period of expansion in history, market forecasters are seeking clues for when our next crisis may strike. So far, three uncommon signals have them worried. Here’s an explanation of the three uncommon signs causing alarm, and what they mean for your savings… Sign #1: Resurgence of Synthetic CDOs The riskiest plays on Wall Street are made using financial instruments known as derivatives. Derivatives are named for how they “derive” their value from the underlying assets on which they’re based. They give investors the ability to leverage assets — that is, control large quantities of an ...
WE CAN FINALLY IDENTIFY ONE OF THE LARGEST HOLDERS OF PUERTO RICAN DEBT
Post Date: 2017-10-04 09:04:28 by Ada
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FOR YEARS, THE IDENTITY of the owner of one of the largest holdings of Puerto Rican debts has been a mystery. That mystery has finally been solved, with the help of the The Baupost Group, who unmasked themselves to The Intercept. The Baupost Group, a Boston-based hedge fund managed by billionaire Seth Klarman, owns nearly a billion dollars of Puerto Rican debt, purchased under a shell company subsidiary and hidden from public scrutiny. Baupost acquired the debt through an on-paper Delaware-based corporation named Decagon Holdings LLC, whose beneficial owner had been unknown until now. “The Baupost Group is a holder of COFINA bonds through the Decagon entities,” said Baupost ...
The GOP Tax Reform Plan: A Preliminary Libertarian Analysis
Post Date: 2017-10-03 21:18:16 by Ada
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The Republicans have released their latest tax-reform plan. “Unified Framework For Fixing Our Broken Tax Code” is a simple, 9-page document that leaves the reader with many unanswered questions. Back in 2015, I subjected the tax proposals President Obama made in his State of the Union address to a libertarian analysis. Earlier this year, I did the same for President Trump’s tax plan. It is only fitting that I now do the same for the Republicans’ framework. The “unified framework” developed by “the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance” claims to be a “pro-American, fiscally-responsible ...
As Wall Street Vultures Circle, Demands For Immediate Puerto Rico Debt Relief
Post Date: 2017-10-02 08:55:20 by Ada
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“Washington must abandon its austerity agenda and support the removal of all manmade obstacles to Puerto Rico’s recovery and reconstruction.” While Wall Street vultures circle amid an ongoing humanitarian crisis and try to entice Puerto Rico with “relief” offers in the form of more debt, advocates for economic justice are demanding immediate debt relief and federal stimulus spending to rebuild the island’s devastated infrastructure. “Puerto Rico needs immediate humanitarian assistance before many more lives are lost thanks to America’s latest climate catastrophe, and reconstruction aid to help them rebuild their infrastructure,” Wenonah ...
OPINION: Jim Rogers notices what no-one else is noticing
Post Date: 2017-10-02 08:43:54 by Ada
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JOHANNESBURG - Step away from the crowd, look, see what no-one else is noticing - and that is where you can find what everyone is searching for. This is Jim Rogers’ key to success. He should know, he is a US dollar billionaire, one of the world’s foremost financial analysts and commentators and an author. Rogers is increasingly bullish about investing across Africa and emerging markets. Rogers, 74, has investments in many countries. One of his most recent is into a Hong Kong-listed coal mine in Indonesia. He was scoffed at, while the rest of the world is moving away from fossil- fuels, that one of the world’s most savvy investment seers had bought into a coal mine. In ...
Paul Craig Roberts Warns Americans: "Oligarchic Rule Prevails Regardless Of Electoral Outcomes"
Post Date: 2017-10-02 00:10:25 by Horse
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Do the Wall Street Journal’s editorial page editors read their own newspaper? The frontpage headline story for the Labor Day weekend was “Low Wage Growth Challenges Fed.” Despite an alleged 4.4% unemployment rate, which is full employment, there is no real growth in wages. The front page story pointed out correctly that an economy alleged to be expanding at full employment, but absent any wage growth or inflation, is “a puzzle that complicates Federal Reserve policy decisions.” On the editorial page itself, under “letters to the editor,” Professor Tony Lima of California State University points out what I have stressed for years: “The labor-force ...
Why the U.S. Dollar Constantly Loses Value
Post Date: 2017-10-01 11:54:39 by BTP Holdings
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Why the U.S. Dollar Constantly Loses Value Your wealth is steadily evaporating. Why doesn’t a dollar stretch like it used to? By Robert Morley From the February 2007 Trumpet Print Edition Ever wonder why your dollar doesn’t seem to stretch as far as it used to? There is a simple explanation: It’s worth less. The reason? The nation’s money supply is constantly being expanded. Between 1783 and 1913, the U.S. dollar was a real store of wealth. Except during wartime periods, inflation within the United States was essentially zero. If you saved one dollar in 1800, a hundred years later you could still purchase approximately the same amount of goods with your savings. ...
Syria offers preferential trade to Russian business
Post Date: 2017-09-19 07:21:18 by Tatarewicz
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RT... The President of Syria Bashar Assad has told the embassy in Russia to give preferential treatment to Russian entrepreneurs wanting to do business in Syria. Read more © Ministry of Defence of the Russian Federation Russia sends 4,000 tons of pipes, cables & machinery in reconstruction aid to Syria – MoD Syria’s Ambassador to Russia Riyad Haddad explained the new policy at a meeting of the Syrian-Russian business council in Moscow. The meeting was attended by a delegation of Syrian businessmen who hope to establish contacts with Russian counterparts. "We will always be side by side; our doors will be open to help you cope with all the bureaucracy ...
Venezuela Just Officially Stopped Accepting Dollars for Oil Payments
Post Date: 2017-09-15 10:54:32 by Ada
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Blowback from Trump's sanctions against the country Coming fast on the heels of a serious Chinese-Russian challenge to the petrodollar, this is important. We published an excellent article about this yesterday titled: 'We Should Take the Latest China-Russia Challenge to the Dollar Seriously', by William Engdahl, one of the best experts on this subject in the world. Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for ...
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