As Donald Trump continues his march toward the Republican presidential nomination, he is faced with the possibility that he may have to ultimately weather a brokered convention in Cleveland this July in order to finally secure it.
Connecticut, Delaware, Maryland, Pennsylvania, and Rhode Island all hold primaries on Tuesday, and all will go a long way in determining whether or not Trump can get to the magic number of 1,237 (delegates needed to win the nomination outright). The key to the Trump nomination, however, may hinge upon how he does in the state of Pennsylvania.
Take the example of two union lobbyists who substitute taught for one-day in the public schools and then started collecting over $1 million of lifetime public ‘teacher’ pension payout – despite a state law expressly designed to stop them. And now take all the other 7,499 educators. The retirees in question paid so little into their own retirement (breaking even on their cost basis within the first 20 months of retirement) that taxpayers now face a $900 million bill just to keep the pension payments flowing!
Sadly, it is undeniable that this reality has become more and more prevalent in America as the 21st century has unfolded, and we don’t think it’s a coincidence that we’ve seen this flare up during a decade and a half characterized by a pummeling of the middle class, a decimation of civil liberties, and the entrenchment of a callous and corrupt political and economic oligarchy.
"The US stock market seems egregiously overvalued versus other stock markets... you are going to see declines in the US stock market and since the correlations are so high this means that probably the junk bond market will go back down, too. Negative interest rates are the dumbest idea ever. It’s horrible.... Gold is doing fine. It’s preserving capital in the US, it’s been making money over the last couple of years for European investors. That’s why I own gold.... Trump is going to win. I think Clinton and Sanders are both very poor candidates."
Finance Professor Invests In Jim Cramer's "Buy Right Now" Portfolio, Loses Money On 67% Of Stock PicksSubmitted by Tyler Durden on 04/12/2016 17:54 -0400
In case you've ever wondered what happens one year later after following Cramer's stock-picking advice, here is the answer.
... consider mom and pop and other people who read Barron’s. They are saving for retirement and to put their kids through college. They might have depended on a historic 8%-like return from stocks and bonds. Well, sorry. When interest rates get to zero—and that isn’t the endpoint; they could go negative—savers are destroyed. And savers are the bedrock of capitalism. Savers allow investment, and investment produces growth.
- U.S. readies bank rule on shell companies amid 'Panama Papers' fury (Reuters)
- Co-Founder of Mossack Fonseca Defends Law Firm at Center of ‘Panama Papers’ (WSJ)
- Fed's Cautious Approach on April Rate Hike Raises Stakes for June (BBG)
- Dollar sinks again after Fed remains cautious (Reuters)
- New Tax Rules on Inversion Deals Are Met With Protest (WSJ)
- Fed Chairs Since 1979 Offer Peek Into Central-Bank Philosophy (BBG)
Millionaires are leaving Chicago more than any other city in the United States on a net basis, according to a report by New World Wealth. About 3,000 individuals with net assets of $1 million or more (not including their primary residence) moved from the city last year, representing about 2% of the city's high net worth individuals. It is unclear where they went: cities in the United States that saw a net inflow of millionaires included Seattle and San Francisco. One thing is certain: they couldn't wait to get out.
Both Cruz and Sanders win Wisconsin, in line with what the polls had predicted.
While this story reads like a Hollywood movie, my hope is that it shines a light and ignites some much needed discussion on the oft hidden, and thus ignored, graft that permeates our most fundamental societal institutions. In this intricate account I describe the incestuous relationship between FINRA and the Banks. The affects of which can be seen in the cocksure culture of management across the entire sector and that is about to get far worse. However, this is but one root in a forest of consequences impacting everyday people.
Dear Mayor Emanuel, it may be about time to get on the phone with Detroit and ask for pointers on how to efficiently navigate the bankruptcy process...
Home prices are rising faster than wages in most of the United States, making homeownership increasingly difficult for average Americans in some of the most populous areas of the country, according to a report released on Thursday. The report found that home price growth exceeded wage growth in nearly two thirds of the nation's housing markets so far this year, with urban centers like San Francisco and New York City among the least affordable.
“While their contributions will diminish slightly, the condition of the funds will revert back to something that is totally unsustainable and in danger of being completely insolvent within 10 to 15 years. Hundreds of millions in savings from rationalized pension benefits will be lost that will either have to be made up from reductions in city services, increased taxes or by allowing these funds to further deteriorate."
Earlier this month in “GOP Leaders, Tech Execs Plot Against Trump At Secret NeoCon Island Meeting,” we discussed the American Enterprise Institute’s annual World Forum, a secretive event held on Sea Island, Georgia. At this year’s gathering the main topic, according to Huff Post, was “how to stop Trump.” Thanks to FEC filings out Sunday we discover still more evidence that conspiracies to stop The Donald are proliferating.
An Illinois college has reversed its position and will allow students to pass out copies of the U.S Constitution on campus. Under the old policies, students were threatened with arrest if they passed out the founding documents on the campus of the College of DuPage.