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Archive Monthly Archives: April 2018

800,000 People To Flee New York & California In Next Three Years

Over the past decade, more than 3.5 million Americans have left high-tax blue states like California, New York, and many others in the Northeast, for low-tax red states like Arizona, Florida, and Texas. While the migration has been happening for years, conservative economists Arthur Laffer and Stephen Moore are forecasting the next significant movement out […]

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Here's The Full Text Of Joint Declaration Issued At North, South Korean Summit

As previously reported, North Korean leader Kim Jong Un and South Korean President Moon Jae-in agreed Friday to finally end a seven-decade war this year, and signed a declaration to pursue the “complete denuclearization” of the Korean Peninsula, although they did not announce any concrete steps to dismantle the North’s nuclear programs. The two leaders embraced after signing […]

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Freddie Mac Launches "3% Down" Mortgage With No Income Restrictions

It’s been a while since the US made a wholesale push to get more cash and income-strapped households into the ever more unaffordable American dream of owning a house, three years to be exact, which is when nationalized housing agency Freddie Mac last rolled out a conventional mortgage that only required a 3% down payment […]

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Will Elon Musk Be the Next CEO to Face A Margin Call Death-Spiral?

Submitted by Mark B. Spiegel of Stanphyl Capital Management In the annals of CEO margin-call history, among the most infamous are Worldcom’s Bernie Ebbers, Chesapeake’s Aubrey McLendon and Steinhoff’s Christo Wiese.  Is Tesla CEO Elon Musk on the path to joining them? Although it’s been known for years that Musk borrows hundreds of millions of […]

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US Bombers Fly Over South China Sea Amid Escalating Tensions Between Taiwan And Beijing

Trade tensions between the US and China appear to have abated – at least for now – as Treasury Secretary Steven Mnuchin and top Trump economic advisor Larry Kudlow prepare to head to Beijing to kickstar long-awaited “trade talks” with senior Chinese officials. But while fears of a global trade war led by the world’s […]

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Trump Euphoric After House Intel Report Finds "No Collusion" Between President, Russia

Weeks after the House Intelligence Committee voted to officially close its investigation into whether President Trump colluded with the Russians, it has finally released its official account of its findings in a heavily redacted 253-page report which unambiguously proclaims that the committee “found no evidence that the Trump campaign colluded, coordinated, or conspired with the […]

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The Next Crash: Making The Fed An Instrument For Disaster

Submitted by Nomi Prins Warning: What you are about to read is not about Russia, the 2016 election, or the latest person to depart from the White House in a storm of tweets. It’s the Beltway story hiding in plain sight with trillions of dollars in play and an economy to commandeer. * * * […]

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How NBC's $69 Million Bet On Megyn Kelly Completely Backfired

Once upon a time NBC snatched Megyn Kelly from her 12-year role at Fox News, agreed to pay her $69 million over there years, and then set her loose to do her “thing” on a now-canceled Sunday night show meant to compete with 60 Minutes, along with the 9 a.m. hour of the network’s iconic morning show – rebranding […]

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BofA: "A Deer In The Headlights" Market Moment

Looking at the latest fund flow data from EPFR, BofA CIO Mike Hartnett describes the most recent developments in capital flows with 4 ominous words: “deer in the headlights.” He is referring to the unexpected risk-off investor sentiment in the past week, a continuation of last week’s theme, which saw $2.8bn inflow to bonds, $0.9bn […]

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Deripaska Agrees To Resign From Rusal, Will Sell Controlling Stake

Just 24 hours ago, Bloomberg reported that “Oleg Deripaska Plans on Keeping Control of Rusal“, a move which suggested that the Russian oligarch would remain defiant in face of US demands that he sell his stake and/or step down as head of United Co. Rusal – the world’s biggest aluminum producer outside of China – […]

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