Starting tomorrow, Uber drivers around the country will join protests organized by the union-backed "Fight For $15" organization. But, with autonomous vehicles just around the corner, drivers should be careful what they wish for...
David Malpass, Donald Trump's economic adviser who has been tasked with overseeing the transition for the Treasury Department and economic policy, addressed a group of economists and reporters in Washington discussing everything from the Fed, to the debt ceiling, to infrastructure spending, to NAFTA and Dodd-Frank, providing an insight in Trump's thinking on these key items. This is what he said.
It seems that even the Governor of the great state of New York is incapable of discerning 'real' from 'fake' news when it doesn't fit his narrative. Proclaiming that "if there is a move to deport immigrants then I say start with me," Andrew Cuomo appears to have missed Trump's proposal focused on ridding America of 'criminal illegal immigrants' and plans "to provide immigrants who can't afford their own defense the legal assistance they need.. because in New York, we believe in justice for all."
Manufacturing firms in New York State reported that business activity was essentially flat in November, with the general business conditions index climbed out of negative territory for the first time in four months, rising eight points to 1.5 above the expected -2.5. However, in a troubling sign, both employment indicators declined notably, while inventory levels hit a 4 year low, as optimism about the future posted a modest decline.
With stupidity like this so pervasive in government, it’s no wonder why the productive and entrepreneurial spirit is being crushed in the Land of the Free. When a broken system and out-of-touch political class make it more difficult for people to produce, prosperity suffers.
In the US focus will be on the market's reaction to the second presidential debate, FOMC Minutes but also retail sales, import and producer prices and Michigan sentiment. We also hear from various Fed speakers throughout the week, and Chair Yellen gives a keynote speech on Friday.
The New York attorney general's office quietly confirmed that the Clinton Foundation failed to file 3 years worth of supplemental tax disclosures regarding "donors and contributors." That said, the AG decided not to brag about the discovery on twitter as he did with the Trump Foundation's investigation.