TagUnited States

Recession No More? Bond-Market Selloff Pushes Treasury Yields to Six-Week High

dow jones industrial average

U.S. government debt yields continued to rise on Friday, booking their biggest weekly gain in three years on better than expected data, China trade progress and looser monetary policy. Treasury Yields Extend Rally Government bond yields were higher across the board, extending a rally that began at the start of September. The benchmark 10-year Treasury note peaked at 1.91%, the highest since late...

U.S. Treasury Yields Continue to Surge as Mnuchin Considers “Dangerous Temptation”

steven mnuchin, bitcoin

U.S. government debt yields rose on Thursday after core inflation exceeded analysts’ estimates, signaling that the economy is performing better than previously feared. The inflation report seemed to strike a delicate balance on Wall Street: Firming expectations about the domestic economy without compromising the Federal Reserve’s plans to lower interest rates next week. Treasury Yields Rise...

U.S. Treasurys Won’t Protect You Against Recession, Analyst Warns

United States of America

U.S. government bond yields extended their September rally on Wednesday, climbing to fresh monthly highs on better than expected data and Chinese trade optimism. Although bonds seem to be recovering, one analyst provided a sobering take on why investors should avoid buying them as a hedge against recession. U.S. Treasury Yields Extend Recovery Government bond yields were higher across the board...

China’s CPI Inflation Rises in August as Trade War Ravages Producer Prices

China consumer prices

China‘s consumer price index (CPI) rose above trend in August, fueled by a continued surge in food costs and weather-related supply shortages. Factory-gate prices, expressed by the producer price index (PPI), told a completely different story. The PPI gauge plunged deeper into deflation last month, the result of a bitter trade war with the United States. CPI Inflation Remains Steady The...

Trump Trade Tussle Squeezes China to Add a 100-Ton Gold Hedge


Growing fears of a full-blown trade war with the U.S. has sent China on a gold-buying spree in a bid to increase its reserves of the yellow metal. According to Bloomberg, the world’s second-largest economy increased its bullion holdings by 0.19 million ounces in August. Using a price of $1,475 a troy ounce – the median price point for bullion through August – the value of...

Dow Crashes After China ‘Weaponizes’ Yuan, ‘Abandons’ Trade Deal

dow jones crash

The Dow Jones suffered another nauseating crash on Monday after China retaliated against President Trump’s tariff threats by escalating the trade war – and perhaps abandoning the negotiations altogether. Dow Careens 430 Points Lower All of Wall Street’s major indices shot lower at the opening bell. The Dow Jones Industrial Average crashed 431.76 points or 1.63% to 26,053.25. Just one of the...

Google Searches Show that America Has a Robust Economy, Research Says

According to a recent study, Google searches show that America is not going into a recession any time soon.

A study by DataTrek Research compared the evolution of specific searches on Google associated with periods of stagnation and economic recession, concluding that North Americans manifest behaviors typical of a robust economy. Google searches associated with negative terms have been declining during the last years. DataTrek explains that they only used data from 2004 to 2019 for the research...

Dow Claws Out of Vicious Slide as Beijing Rebukes Trump’s ‘Blackmail’

dow jones industrial average, donald trump, china

The Dow’s multi-session nosedive risks extending into a fourth day on Friday after Beijing rebuked President Trump for his $300 billion tariff threat. Dow Scrambles to Avoid Fourth Straight Loss All of Wall Street’s top indices fought to avoid an opening bell sell-off following a volatile pre-market session for US stock futures. Dow Jones Industrial Average futures had portended losses all...

Game of Thrones? Bitcoin Bro John McAfee Schemes to Rule US & UK

john mcafee prime minister game of thrones

Bitcoin millionaire John McAfee has a bold, ambitious vision: To rule over both the United States and the United Kingdom as their president and prime minister, respectively. McAfee outlined his audacious aspirations on Twitter, where he alleged that he qualifies to be both — simultaneously — because he’s a U.S. citizen born on U.S. soil and a British citizen born in England. “I am one...

Indian Call Center Scam Milks $1.7 Million in Bitcoin From US Citizens

Bitcoin, India, United States

By CCN Markets: A gang in India’s Madhya Pradesh state which scammed U.S. citizens hundreds of thousands of dollars through Bitcoin and other methods has been busted and its members arrested. The gang which ran its operations out of a call center is estimated to have made around $1.7 million. According to the Business Standard, the gang consisted of 78 people who operated out of three call...

Generation Debt: Shock Data Expose How Broke Millennials Really Are

millennial net worth down 34%

By CCN: Piles of student debt, an underperforming job market, and a rising cost of living are pushing millennials’ average net worth down, and down fast. According to an eye-opening Deloitte study on consumer behavior: “Millennials are dramatically financially worse off than previous cohorts with a 34 percent decrease in their net worth since 1996.” Because of this lower...

This Stock Market Lifeline Could Come from a Surprising Place: Australia

U.S. stock market, reserve bank of australia

By CCN: The U.S. stock market struggled for much of the past month, sending the S&P 500, Dow Jones, and Nasdaq lower amid a rapidly-intensifying U.S.-China trade conflict. However, a growing number of equity strategists expect the Federal Reserve to slash its benchmark interest rate, and the impetus for that policy shift could come from a surprising location: Australia. Australia’s Rate...

Most Americans Would Be Broke as a Joke if They Missed One Paycheck

empty pockets, broke

By CCN: Most Americans are financially unstable and live paycheck to paycheck. In fact, 51% of working Americans would be in dire financial straits if they missed a single paycheck. And an additional 15% would suffer severe hardship if they missed two pay periods. These alarming findings were uncovered in a personal finance survey from the National Opinion Research Center (NORC) at the University...

U.S. Treasury to Name-Shame Vietnam for Manipulating Its Dong

Vietnam, United States, US

By CCN: Writing for Bloomberg, Michelle Jamrisko and Nguyen Dieu Tu Uyen report Vietnam is at risk of being labeled a currency manipulator. Vietnam is going to be labeled that – by whom? The U.S. federal government and socialist financial system? They’re the biggest currency manipulators of all. Jamrisko and Nguyen write: “Vietnam may be the latest country to be targeted by the...

Trump Smells Blood & Flashes China a $500 Billion Middle Finger

donald trump us-china trade war

By CCN: The U.S.-China trade war suddenly escalated this week, with President Donald Trump declaring that the trade surplus the world’s second-largest economy enjoys with his country will be no more. Trump to China: You’re Done Screwing Us Over The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China we lose 500 Billion Dollars. Sorry, we’re...

U.S. Taxpayers Can Receive Federal or State Tax Refunds in Bitcoin


By CCN.com: U.S. taxpayers can receive all or part of their federal and state tax refunds in bitcoin. This is being made possible through a collaboration between blockchain payments processor BitPay and Refundo, a provider of tax-related financial products. In a statement, Refundo says its CoinRT product is especially useful for low-income communities that don’t have checking accounts and...

U.S. Accuses But Can’t Catch Two Nigerian Scammers Behind $270,000 Bitcoin Fraud

Bitcoin, bitcoin fraud

By CCN.com: The United States Attorney’s Office District of Oregon has indicted two Nigerian nationals, Kelvin Usifoh and Onwuemerie Ogor Gift, over a bitcoin fraud scheme which is estimated to have netted them bitcoin worth over $270,000. Among the charges that the two are facing include wire fraud and conspiracy to commit money laundering. The victims who have come forward are based in Oregon...

Elizabeth Warren’s Bombastic Rhetoric Smacks of Grandstanding

Elizabeth Warren, 2020 presidential elections

By CCN: 2020 Democrat presidential hopeful Elizabeth Warren is at it again. Just a few weeks after flying the kite of slavery reparations in an effort to pander to African American voters, the Massachusetts senator has come out swinging. First, she called for the House to commence impeachment proceedings against President Trump. Now she’s proposed a student loan forgiveness plan that would...

High-Rolling US Consumers Rescue Dow from Trade Hurricane

dow djia us consumer spending

U.S. consumers are, more than ever, the envy of the world. While the global economy grapples with slow growth, U.S. consumer spending has prevented it from teetering on the cusp of collapse and may have single-handedly saved the Dow Jones Industrial Average in the process. Forget the FUD: Consumers are Pushing the Stock Market Higher Indeed, U.S. consumers are a force to be reckoned with...

Dow Futures Surge as U.S. Nonfarm Payrolls Roar Back in March

donald trump tweet workhorse stock

U.S. job creation bounced back sharply last month, renewing optimism that the labor market was still on track following a sharp slowdown in February. The jump in nonfarm payrolls thrust Dow futures toward a major rally. Nonfarm Payrolls Rebound Employers added 196,000 workers to payrolls last month, well above the 175,000 expected, the Department of Labor reported Friday in Washington. The...

Dow Should Rally as Chicago Fed Forecasts No Rate Hikes Until 2020

dow jones industrial average, djia

According to the Wall Street Journal, Chicago Fed President Charles Evans said at the Credit Suisse Asian Investment Conference in Hong Kong that he does not foresee the Federal Reserve increasing its benchmark interest rate until 2020, which could benefit the Dow Jones in the long run. Chicago Fed Rate Forecast Should Help Dow Recover While Evans remained reluctant to provide a conclusive...

Trump Takes Unsustainable Path as US Lurches Toward Recession

donald trump #billiondollarloser twitter

As President Donald Trump continues sounding a triumphalist tone on the subject of the economy, there are developing signs that point to a brewing recession. Fear of a slowdown is the primary reason why the Federal Reserve declined to raise interest rates at the start of the year, and now it seems that these fears are well-founded. GDP growth during the four quarters of 2018 was the fastest since...

10 Ways Alexandria Ocasio-Cortez Is Bad to The Bone

alexandria ocasio-cortez

Rep. Alexandria Ocasio-Cortez, possibly the most overrated politician in U.S. history, is nothing new to politics and she’s no reformer either. She is supposed to represent hope and reform and millennials bringing some of their warmth and earnestness to politics, but she is actually politics as usual. I don’t know about you, but when I see Washington politicians like AOC and like...

Wells Fargo CEO ‘Earns’ Major Raise as Bank Racks up Billions in Fines

wells fargo ceo timothy sloan

The day after his Tuesday appearance on Capitol Hill to answer questions from the House Financial Services Committee, banking empire Wells Fargo disclosed it would be giving the company’s CEO, Tim Sloan, a 5 percent raise for 2018. To repeat, this is the day after Sloan testified before Congress to convince the government that the San Francisco-based, global finance, mega-corporation has...

Voters Bombard 2020 Presidential Hopeful Andrew Yang with $1,000 Facebook Invoices

andrew yang, democratic debate

Andrew Yang, the New York non-profit entrepreneur and 2020 Democratic presidential candidate who’s a bull for bitcoin and ethereum – as well as Universal Basic Income (UBI) – owes 22 political activists $22,000 toward making UBI a reality – at least according to the activists themselves. Universal Basic Income proponents want to create a social safety net that...

Fact Check: Do US Travelers Need a Visa to Visit Europe?

Do you need a visa to visit europe?

In the onslaught of fake news allegedly stemming from U.S. media sources, readers can now add another mark to their expanding chalkboard. Late last week, it was reported that Americans would be required to apply for visas beginning in 2021 if they wanted to visit Europe. U.S. citizens could apply through what’s known as the European Travel Information and Authorization System (ETIAS). The...

Howdy Arabia! U.S. to Overtake Saudi Arabia as World’s Biggest Oil Exporter by 2025

Saudi Arabia, nuclear power

For much of the past 75 years or thereabouts, the status of Saudi Arabia as the world’s undisputed energy hegemon has been taken for granted, with the kingdom exporting roughly 7 million barrels of oil per day, making it by far the world’s largest oil producer and one of the wealthiest countries on the planet. With this wealth has come huge foreign heft, availing the autocracy of an extremely...

France’s Millionaire Tax Failed – So Will AOC’s Green New Deal

alexandria ocasio-cortez, aoc

It seems like New York and Alexandria Ocasio-Cortez could learn a thing or two from Europe. The “millionaire tax” that both the state and its most controversial representative are proposing was first attempted in France back in 2012. Then, President Francois Hollande instilled a 75 percent “supertax” on all income exceeding $1.12 million. Two years later, the plan was ultimately canceled because...

Huawei CFO Sues Canada for December Arrest, Hints at US Scheme in Lawsuit

Meng Wanzhou Huawei

Lawyers for Meng Wanzhou, CFO of China tech superpower Huawei, are suing the Canadian government for breaching her constitutional rights. A new page was turned in the ongoing war between Huawei and the US and Canadian governments on Monday when lawyers for Meng Wanzhou announced that they are suing Canda. This is the latest development in what looks like being a long-battle between one of ...

US Trade Deficit Widens Despite Tariffs. Don’t Blame Trump, Blame Yourselves

Donald Trump

According to newly released data, which was delayed by the government shutdown, it will be concluded that Donald Trump has so far failed to reduce the trade deficit he promised to cut. All this amid a ballooning debt after tax cuts. There is one overwhelming reason for this, and it is not Trump’s fault. Instead, it is the people of the United States who continue to fail to support US...

US Credit Card Debt Balloons Past Record at 2008 Stock Market Crash

us credit card debt balloon

US credit card debt has spiraled to a staggering $870 billion, a new record. The debt pile is going to be of significant concern to fiscal hawks who will be particularly concerned by the fact that the amount is continuing to push higher despite a booming stock market and positive growth in the US economy. Perhaps what is most concerning is the fact that this historic debt bubble has now surpassed...

Trump Promises to Kill India’s $5.6 Billion in Duty-Free Exports to US: Another Trade War?

Donald Trump India Narendra Modi

President Donald Trump has indicated that the preferential trade status that India enjoys with the United States under the Generalized System of Preferences (GSP) tariffs system and which allows it to export some products to the U.S. duty-free will be ended, according to Reuters. In a letter to Congress, Trump indicated that the decision to remove India from the Generalized System of Preferences...

$46 Billion Flows into Chinese Stock Market, Should Launch Dow Higher

china stock market sse composite

  Following MSCI’s decision to increase the weight of Chinese onshore shares in its widely-cited emerging market index, over $46 billion is set to pour into the stock market of China, a move that could kick the ongoing Dow Jones recovery into an even higher gear. The SSE Composite, which tracks all stocks traded at the Shanghai Stock Exchange, has spiked from 2,464.36 points to 2,994 points...

Millennials are Killing the US Beer Industry – Their Next Victim is Heineken

heineken us beer industry

Heineken USA, the American division of Dutch global beverage manufacturer Heineken International – the world’s second-largest brewer – is gearing up for a business restructuring that will involve cutting 15 percent of its total workforce. Honestly, did anyone not see this coming? US Beer Giants are Downsizing en Masse Beer companies are taking a beating in the US, which explains why a...

California Trashes $300 Million With its Garbage Recycling System


A consumer watchdog in the Golden State has revealed that recycling conscious Californians being ripped off by an outdated collection system.
A new report has outlined how environmentally friendly Californians are being short-changed by a flawed system and lack of basic recycling infrastructure. The result is that consumers are losing out on hundreds of millions of dollars each year.

Why Donald Trump Was Forced to Walk Away from North Korea Summit


The highly anticipated meeting with the U.S. President Donald Trump and North Korea Chairman of the Workers’ Party Kim Jong Un came to an abrupt end with neither party willing to compromise on a denuclearization agreement. Trump-Kim Summit Ends Without a Deal A relatively high number of political analysts and think tanks in South Korea predicted a fallout between President Trump and...

Trump to Be Accused of Racism, Lies and Criminal Acts by Former Lawyer Michael Cohen

Donald Trump, Michael Cohen

Editor’s Note 14:59 EST: The headline has been amended for clarity. Trump’s former personal lawyer is set to give a bombshell testimony in front of Congress. Michael Cohen, President Trump’s former attorney and fixer for 12 years until May 2018, could be about to open a can of worms on Wednesday that even Teflon Don cannot walk away from clean. Citing a source privy to his...

Chinese Stock Market’s 18% Surge Should Ignite Massive Dow Jones Comeback

china us stock market dow sse

In the past five days, the SSE Composite, which tracks all stocks that are traded at the Shanghai Stock Exchange, spiked by 7.14 percent, in a short-term move that could fuel the Dow Jones throughout February. China Stock Market Surges – Why the U.S. Will Follow Local analysts in China have attributed the surge of the SSE Composite to the positive prospect of a comprehensive trade deal...

US China Trade Deal Optimism Will Spark Massive Dow Jones Rally

donald trump stock market us-china trade war

The Dow Jones and the rest of the U.S. stock market are expected to initiate strong rallies in the upcoming weeks as the confidence of investors in the prospect of a comprehensive deal between the U.S. and China grows. On Friday, several sources including The Wall Street Journal reported that the Trump administration is set to extend the suspension on tariffs from March 1 to May 1, by 60 days...

Dow Secures 9-Week Winning Streak, Roars Past 26,000 with Minutes to Spare

dow, djia

The Dow Jones Industrial Average rallied on Friday to rescue its nine-week winning streak, and the US stock market bellwether further crossed another milestone by edging across the 26,000 mark minutes prior to the closing bell. Dow Creeps Higher for Ninth Consecutive Week The Dow jumped by 181.18 points or 0.7 percent to 26,031.81. The S&P 500 rose 0.64 percent but fell short of 2,800, and...

Mammoth Dow Jones Rally Should Follow End to US-China Trade War

bitcoin price

According to an exclusive Reuters report, the U.S. and China are moving rapidly to establish a comprehensive trade deal, a move that could fuel the rally of the Dow Jones to continue on across the upcoming months. New Trade Deal Bodes Well for the Ongoing Dow Recovery Sources close to the negotiation told Reuters that the trade talks have seen most progress in recent weeks despite the heavy...

Dow Jones Winning: Why China’s Stock Market Surging For First Time in 3 Months is Crucial

dow jones industrial average

For the first time in 3 months, the Chinese stock market has recorded a 3 percent increase triggered by the optimistic prospect of a comprehensive trade deal. The Dow Jones is nearing the 26,000 point mark after initiating a strong rally in the past two weeks. The solid movement of the CSI 300 Index, which replicates the performance of top 300 stocks in the Shanghai and Shenzhen stock exchanges...

Will Dow Rally? Top Milken Economist Says China ‘Desperate’ to End Trump’s Trade War

dow jones us stock market us-china trade war

According to Bill Lee, chief economist at the Milken Institute, China is desperate to land a trade deal with the U.S. and President Donald Trump to prevent more crippling defaults. That could be bullish for the Dow Jones Industrial Average and other U.S. stock market indices. The Dow Jones has already recovered in the past week due to rising optimism towards a trade deal, though it is trading in...

US Stock Market Has No Room Left to Grow, Raymond James Says Investors Should Watch Out

us stock market raymond james

The 10-year Treasury note yield of the United States has continuously dropped in a three-month span since November of last year for the first time since 2015, which may be seen as an indicator of uncertainty in the U.S. stock market. Since late 2018, bonds and stocks have shown a similar trend of growth, which typically occurs when inflation and the Federal Reserve rate rise. The decline in the...

Dow Jones Sess Stunning 10% Recovery, But This One Key Factor Could Fuel Even More Growth

dow jones us stock market

Since January 3, within a one-month span, the Dow Jones Industrial Average has recovered from 22,682 points to 25,102 points, by more than 10 percent. It has been a stunning 30 days for the Dow Jones, which was at risk of entering a bear market after falling by 19 percent from its all-time high. The short-term recovery of the Dow was mainly attributed to the Federal Reserve rate, which is...

Why Trump’s Trade War Hasn’t Stopped US Venture Capital from Piling into China

dow jones donald trump xi jinping us-china trade war

President Donald Trump and the US government are neck-deep in a trade war with China. Yet US businesses and investors pushed more venture capital investment into China in 2018 than ever before. Though Trump has added tariff after tariff on the country, America’s private sector doesn’t appear to share the same urge to punish or restrict the growth of companies in China. Likewise, China’s venture...

Outplayed: Trump Weaker Following Shutdown Fiasco, What Pushed Him to the Brink?

donald trump government shutdown us-mexico border wall

The Trump administration reopened the government after a record 35 days, merely weeks after President Donald Trump heavily emphasized that the government would remain shut without funding for the border wall. Reports suggest that three major factors led President Trump to the brink and to ultimately put an end to the longest shutdown in the U.S. government’s history. Chaos at airports, air...

Why the US Debt Machine Should Make Investors Wary of the Dow Jones Recovery

dow jones stock market us debt

By CCN.com: Since early 2018, virtually every type of debt in the U.S. has achieved an all-time high, surpassing trillions of dollars, and that should make Americans wary of the recent recovery seen in the Dow Jones Industrial Average and wider U.S. stock market. Don’t Trust the Dow Jones Rebound Investors including Doubleline Capital founder Jeffrey Gundlach have said that the U.S. economy...

Billionaire Hedge Fund Mogul George Soros Warns That the US-China ‘Cold War’ Could Escalate Into a ‘Hot One’

George Soros

By CCN.com: Billionaire hedge funder George Soros has warned that the ‘cold war’ consuming the United States and China could get ugly. Speaking in Davos, Switzerland on the sidelines of the World Economic Forum (WEF), the chairman of hedge fund Soros Fund Management said things could get nasty as the world’s two biggest economies stay locked in a trade war, according to CNBC: The reality is that...

Here’s What Morgan Stanley CEO James Gorman Says is the ‘Obvious Solution’ to the US Government Shutdown

morgan stanley james gorman government shutdown

By CCN.com: Morgan Stanley CEO James Gorman has expressed fears that the partial U.S. government shutdown could hurt the economy greatly if it drags on. Gorman was speaking in Davos, Switzerland at the World Economic Forum as the shutdown enters its 34th day. In an interview with the CNBC (video below), Gorman empathized with the 800,000 federal government workers who have missed several...