A new federalism — a devolution of power and resources away from Washington and back to states, cities, towns and citizens, to let them resolve their problems their own way and according to their own principles — may be the price of retention of the American Union.
The GDP of China’s northeastern industrial province of Liaoning collapsed by 23% in nominal terms once it was no longer able to "cook its books" and suggested that - if extrapolated to the rest of China - the data in the world's second biggest economy is nothing short of catastrophic.
"There is no daylight between Gary Cohn and the President. His comment was taken out of context as it was part of a broader conversation about the proposals that are connected to border adjustability. At no point during this conversation did Gary make a statement of support or opposition to the House border adjustability plan."
A close look at the ’86 tax reform shows why tax reform may not get done this year. As BofAML's Ethan Harris notes, "we are skeptical." Significant tax reform creates winners and losers, which may make it hard to find a "coalition of the willing."
France's financial prosecutor has asked an investigative magistrate to open a probe into allegations that presidential candidate Francois Fillon's wife was paid large sums of money for work she may not have done, newspaper Le Parisien reported.
To those cynics who accuse the self-monitoring OPEC, and its various adjunct agencies, of lying that it has implemented last year's agreed upon production cuts, China just released January crude import data, which validates this skepticism.