"These were the cowboys of Wall Street," said Peter Henning, a law professor at Wayne State University in Detroit. "If you were a bond trader, you could almost do anything you wanted, and not anymore."
Everyone observing politics seems to agree on two things about a president’s first 100 days in office: 1. 100 days is a meaningless, arbitrary marker for a president’s performance that is likely to be more misleading than useful; and... 2. Let’s treat it like it is important!
Reuters cited a House Republican source who said that a one-week bill would give lawmakers "a little breathing room" to complete negotiations on broader legislation, although it is unclear why if Democrats haven't agreed with core GOP principals, they would agree next Friday.
"Over the past couple of months, House conservatives have worked tirelessly to improve the American Health Care Act (AHCA) to make it better for the American people. Due to improvements to the AHCA and the addition of Rep. Tom MacArthur’s proposed amendment, the House Freedom Caucus has taken an official position in support of the current proposal."
As the minutes tick by ahead of the announcement of "the greatest tax cut in human history," we are getting more information on the personal tax rates (something Treasury Secretary Mnuchin failed to mention earlier). As Fox News reports, in addition to raising deductions, the Trump administration will collapse the current seven-tier bracket system into just three tax brackets under the new plan, taxed at rates of 35 percent, 25 percent and 10 percent.
"Evidence of overvaluation has increased from moderate to strong in Victoria, as fundamentals are not keeping up with higher prices. There is also moderate evidence of price acceleration and overheating, leading to strong overall evidence of problematic conditions."
The Mexican Peso is tumbling (and Loonie extending yesterday's timber-tariff-driven losses), as Politico reports, the Trump administration is considering an executive order on withdrawing the U.S. from NAFTA, according to two White House officials.
So what do you do when a massive student loan bubble results in crippling leverage for an entire generation of your population rendering them financially unqualified to obtain mortgage financing and their 'God-given right' to a slice of the 'American Dream'? Well, you simply change the rules to allow mortgage lenders to ignore all that pesky student debt...
In a surprising announcement, the Russian General Staff announced on Wednesday that it has withdrawn almost half of its air grouping originally based at the Hmeymim facility in Syria. Col. Gen. Sergei Rudskoi said at the VI Moscow Conference on International Security that "the number of terrorist units has decreased, which allowed us to withdraw almost half of the aircraft based at the Hmeymim airbase."
Macron is nothing but an artificial product, a meticulously packaged hologram designed to sell an illusion. Only the terminally naïve may believe Macron incarnates change when he’s the candidate of the EU, NATO, the financial markets, the Clinton-Obama machine, the French establishment, assorted business oligarchs and the top six French media groups.
On April 26 airmen from F.E. Warren, Offutt And Vandenberg Air Force Bases conducted an operational test launch of an unarmed Minuteman Three missile. The ICBM was equipped with a test reentry vehicle, and traveled approximately four thousand two hundred miles to a test range near the Kwajalein Atoll in the Marshall Islands.
Speaking at at an event hosted by The Hill this morning, Treasury Secretary Steven Mnuchin made a grand introduction for today's main event: he said President Trump's forthcoming tax plan will be the "biggest" tax cut in history. There is just one problem: it may be dead on arrival in Congress.
WTI/RBOB prices were at the lows of the day after last night's huge surprise inventory data from API, but kneejerked higher after DOE reported a surprisingly large crude draw (the biggest since Dec 2016. However, it's clear that refineries are on fire as gasoline and distillates inventories surged by the most in at least 3 months. US crude production rose once again to its highest since August 2015.
"Some leading emergency response planners view the persistent menace of North Korea as a new opportunity: reason to alert the American public that a limited nuclear attack can be survivable, with a few precautions. The simplest of the warnings is: "Don't run. Get inside." Sheltering in place, beneath as many layers of protection as possible, is the best way to avoid the radiation that would follow a nuclear detonation." - NBC