Sunday, December 17, 2017

Tag: Wall Street

Summers Warns of Financial-Crisis Risk From Trump Economic Plans

Former U.S. Treasury Secretary Lawrence Summers attacked the policy proposals of Donald Trump on several fronts, saying the president-elect’s plans for deregulation were setting the stage for the next financial crisis. “The deregulation in some areas like finance is hugely dangerous,” Summers said Sunday in an interview on Fox News Channel....

Can Corporate Raider Wilbur Ross Deliver on Trump’s Blue-Collar Promises?

Trump's pick for commerce secretary has a track record of saving American jobs. Whether he can bring many back to the Rust Belt remains to be seen. A decade ago, cheap Chinese cloth was hammering American textile makers. Companies like Burlington Industries and Cone Mills, two big U.S. makers of...
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Mark Blyth: Global Trumpism and The Revolt Against The Creditor Class

Mark Blyth is a Scottish political scientist and a professor of international political economy at Brown University. At an event on November 9 at Brown's Watson Institute for International and Public Affairs, he spoke about "Global Trumpism" -- a worldwide working-class backlash against harmful macroeconomic trends. "What we have everywhere...

Presidential Elections: Myths and Deceits

Every aspect of this year’s US Presidential election has been fraught with myths, distortions, fabrications, wishful thinking and invented fears. We will proceed to discuss facts and fictions. Electoral Participation The mass media, parties and candidates emphasized the ‘unprecedented voter turnout’ in the elections. In fact, 48% of the eligible voters abstained. In other words,...

Trump Prepares to Takeover Fed

In Donald Trump's first four years as president, he will not only choose three judges for the Supreme Court, he’ll also pick five of the seven members on the Fed Board of Governors. It would be impossible to overstate the effect this is going to have on the nation’s...
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Michael Hudson on the Orwellian Turn in Contemporary Economics

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Killing the Host (2015), The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire...

The Nation’s Biggest Banks Have Gotten a $130 Billion Boost from Trump Win

Biggest winner: Bank of America. Donald Trump and the big banks appears to be this year’s biggest story of unrequited love. While Trump has accused Wall Street of trying to ruin the country on the election trail, investors banking on the fact that the next president will be good for nation’s...

Trump Campaigned Against Lobbyists, but Now They’re on His Transition Team

WASHINGTON — President-elect Donald J. Trump, who campaigned against the corrupt power of special interests, is filling his transition team with some of the very sort of people who he has complained have too much clout in Washington: corporate consultants and lobbyists. Jeffrey Eisenach, a consultant who has worked for...
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Chris Hedges: The Surrender of the Liberal Left to Neoliberalism Gave Us Proto-fascism

With Trump, you get “the naked fist of a very frightening police state come down upon us,” warns Chris Hedges. Sharmini Peries: What is your reaction to having Trump as a president? Chris Hedges: Depression, that Trump won, followed by anger at the left for failing, after the passage of NAFTA...

Trump Team Promises To Dismantle Dodd-Frank Bank Regulations

During his presidential campaign, Republican Donald Trump said he would "get rid of" Dodd-Frank — the sweeping legislation passed in 2010 to address problems underlying the 2008-2009 financial crisis. Many Republicans hate the 2,300-page law, saying it is layered with far too many regulations. But Democrats say it provides valuable...

Main Street Champion Trump Turns to Wall Street to Fill Treasury Post

President-elect Donald Trump won the White House by promising supporters he was an outsider who was not beholden to special interests on Wall Street. But it didn’t take long for him to look to lower Manhattan for help. According to CNBC, Trump is considering JPMorgan Chase chief Jamie Dimon as...

Donald Trump Recruits Corporate Lobbyists to Select His Future Administration

As Donald Trump finishes his campaign with a promise to break the control of Washington by political insiders, his transition team is preparing to hand his administration over to a cozy clique of corporate lobbyists and Republican power brokers. “Our movement is about replacing a failed and corrupt political establishment with a...

James Rickards: The Petro Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency

James Rickards is the Editor of Strategic Intelligence, a financial newsletter, and Director of The James Rickards Project, an inquiry into the complex dynamics of geopolitics + global capital. He is the author of The New Case for Gold (April 2016), and two New York Times best sellers, The...

While You Weren’t Looking, Donald Trump Released a Plan to Privatize America’s Roads and...

So this is kind of cute. While most of us were tearing our hair out over the FBI and Hillary Clinton's emails last weekend, Donald Trump's campaign quietly released a plan to privatize new infrastructure development in the United States. I know, that's not very sexy on the surface....
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Michael Hudson on Hillary Clinton and the US Elections

In this clip from our extended interview, Prof. Michael Hudson, economist and author of ‘Killing the Host – How Financial Parasites and Debt Destroy the Global Economy‘, speaks to Ross Ashcroft about the difficult choice faced by Americans in the upcoming US elections. If Hillary Clinton is more capable than...

Hillary Clinton Economic Team Planned Secret Meeting With Wall Street Mogul Pushing To Shift...

Days before publicly promoting a plan that could funnel billions of dollars of retiree assets to Wall Street, the president of one of the world’s largest financial firms was organizing a private meeting with Hillary Clinton's economic team. A hacked email detailing the meeting between Blackstone President Tony James — a...
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Meet the Renegades: Michael Hudson

With every major financial recovery since the second World War beginning in a place of greater debt than the one before it, how could we not have foreseen the financial crisis of 2008? In this episode of Meet the Renegades, economics professor and author, Michael Hudson argues we did. How could...

Forget the FBI cache; the Podesta emails show how America is run

WikiLeaks' dump of messages to and from Clinton's campaign chief offer an unprecedented view into the workings of the elite, and how it looks after itself. The emails currently roiling the US presidential campaign are part of some unknown digital collection amassed by the troublesome Anthony Weiner, but if your...

Citigroup chose Obama’s 2008 cabinet, WikiLeaks document reveals

One month before the presidential election of 2008, the giant Wall Street bank Citigroup submitted to the Obama campaign a list of its preferred candidates for cabinet positions in an Obama administration. This list corresponds almost exactly to the eventual composition of Barack Obama’s cabinet. The memorandum, revealed by WikiLeaks...

The Most Important WikiLeak – How Wall Street Built The Obama Cabinet

Perhaps the most startling discovery of the WikiLeaks dumps so far didn't come from the most recent emails surrounding the various Hillary scandals, though there are many great ones, but from 2008 when John Podesta served as co-chair of President-elect Barack Obama's transition team. The email came from Michael Froman,...

David Stockman: America Now Lives Under A Perverted Regime

The rise of Trump—and Bernie Sanders too—vastly transcends ordinary politics. In fact, it reaches deep into a ruined national economy that has morphed into rank casino capitalism under the misguided policies and faithless rule of the Washington and Wall Street elites. This epic deformation has delivered historically unprecedented set-backs to...

Banks to Need Billions More Capital in Tests Under Fed Plan

Wall Street would have to come up with billions of dollars in additional capital in a proposed revamp of the Federal Reserve's annual stress tests that could also scrap some provisions that lenders have criticized. As the Fed has signaled for months, it is considering changes that would raise the...

The Coming Bond Bubble Collapse

In this week’s podcast, Michael Pento, fund manager and author of The Coming Bond Bubble Collapse, explains how the United States is fast approaching the end stage of the biggest asset bubble in history. He describes how the bursting of this bubble will cause a massive interest rate shock that...

Trump’s Top Fundraiser Eyes the Deal of a Lifetime

Steven Mnuchin might have a shot at Treasury secretary, but his Wall Street pedigree makes him the type Donald Trump fans love to hate. Until one Tuesday in April, Steven Mnuchin's life had been ordered meticulously. The son of a Goldman Sachs partner, he was publisher of the Yale Daily...

The Fed Is Now More Likely to Cut Interest Rates Than Raise Them

Wall Street’s odds have reversed since the Brexit vote. Wall Street is betting Brexit will change the minds of the Janet Yellen and the Federal Reserve. Before Britain voted to leave the European Union last week, the majority of traders believed the Fed would raise interest rates at least once in...

Brexit Is Only the Latest Proof of the Insularity and Failure of Western Establishment...

The decision by U.K. voters to leave the EU is such a glaring repudiation of the wisdom and relevance of elite political and media institutions that — for once — their failures have become a prominent part of the storyline. Media reaction to the Brexit vote falls into two general categories: (1) earnest, candid attempts...

UK’s out vote proves a game-changer for US stocks, oil and gold

The Dow Jones dropped 610 points as gold prices jumped to their highest levels since October 2013 following the results of the EU referendum. US markets fell sharply of Friday as American traders tried to reckon with a newly uncertain future in the wake of the shock “leave” result of...

Wall Street has been rocked by an $8 billion hedge fund’s implosion

Visium Asset Management, a multibillion-dollar hedge fund, has imploded in the biggest scandal to hit the industry in years. The fund told investors of its plan to close in a letter Friday. It's the most high-profile shutdown since authorities forced Steve Cohen's controversial SAC Capital to close in 2013. A slew of factors...

JP Morgan: Gold Entering a New and Long Bull Market

Are Wall Street banks finally getting on the right side of the gold trade? In an interview with CNBC, Solita Marcelli, global head of fixed income at JP Morgan, revealed that the Wall Street investment bank is recommending that clients position themselves for a “new and very long” bull market...
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The Wall Street Economy Has Taken Over the Real Economy and Is Draining It!

GORDON LONG: Thank you for joining us. I’m Gordon Long with the Financial Repression Authority. It’s my pleasure to have with me today Dr. Michael Hudson Professor Hudson’s very well known in terms of the FIRE economy to—I think, to a lot of our listeners, or at least he’s...

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