Econ News Wire

What’s going on in the economy and how will it affect your money?

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Is a Recession Coming?

Is a Recession Coming?

The 2008 financial crash devastated the U.S. economy. Unemployment reached 10%, bailouts cost taxpayers $700 billion, and slowed economic growth cost the U.S. $648 billion in income.  The detrimental effects of the ‘08 crash, which extended to 2010, have led to...

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In The News

Divided Congress may ensure economic stability, experts say

With the U.S. Senate in Republican control and the House under Democratic leadership, experts are saying that a divided U.S. Congress may have a moderating effect on the economy, ensuring that politicians hew to a middle ground in adopting policy changes. Reforms are...

Monopolies and the rise of fascism

In a Nov. 11 column in the New York Times, law professor Tim Wu examines the connection between economies dominated by monopolies and cartels and the rise of fascism. As a historical example, Mr. Wu, who specializes in anti-trust law, looks at pre-World War II Germany...

Does a financial transaction tax stand a chance?

The financial transaction tax may well be the wall flower of taxes, with so much promise in the area of tax reform yet ignored or passed over for decades by many policymakers, business leaders and economists. But all that may be about to change, as an FTT increasingly...

Is Amazon the new darling of Wall Street?

Wall Street may be more enamored with Amazon than Main Street. Amazon's stock growth -- like the retailer itself -- seems to know no bounds. Amazon is trading at $1,720, with the company's market value at $840 billion The stock is up by nearly 50 percent this year....

Why growth of banks can be a drain on the economy

Can over-developed financial markets and banks hurt the economy? That's the theory of journalist and author Nicholas Shaxson, who argues that an over-developed financial sector can drain the resources from an economy rather than contribute to growth. Just like an...

Exxon profits jump by 57%

Higher oil prices are reaping bigger profits for ExxonMobil, which reported Friday that profits jumped by 57% last quarter. The company is increasing production in the Permian Basin of Texas, the center of the shale boom, and benefiting from the recent rise in oil...

U.S. job growth makes new gains

WASHINGTON  - U.S. wages recorded their biggest annual increase in nearly a decade, as overall job growth made new gains in October, according to figures from the U.S. Labor Department. As the labor market tightens, there are expectations that the Federal Reserve will...

Capital spending slumps after tax cuts

The $1 trillion corporate tax cut is fizzling. Republicans pushed through the tax reform bill pledging it would free corporations to reinvest in their businesses and increase productivity. That has yet to materialize. Businesses were supposed to take the...

Brexit would hurt Europe’s major banks, watchdog warns

A British vote to leave the European Union would have a ripple effect across the banking industry in Europe, impacting major banks the most, a financial watchdog group is warning. Germany's largest banks would be hit the hardest, given their heavy exposure to London,...

GM offers buyouts after strong earnings report

DETROIT — General Motors Co. on Wednesday stepped up efforts to cut costs in response to tariff and market pressures, even as it reported a third-quarter profit that topped Wall Street expectations. The No. 1 U.S. automaker said it is offering...

Stocks Surge to Two-Week High

U.S. stocks rallied for a second day to close out one of the worst months of the bull market on an upbeat note. The dollar added to a 16-month high and Treasury yields jumped. The S&P 500 Index was on track for its biggest two-day surge since June, while the Dow...

Is a Recession Coming?

The 2008 financial crash devastated the U.S. economy. Unemployment reached 10%, bailouts cost taxpayers $700 billion, and slowed economic growth cost the U.S. $648 billion in income.  The detrimental effects of the ‘08 crash, which extended to 2010, have led to...

Larry Kudlow: The Economy Is Hot

Trump economic aide talks about the U.S. as a world economic leader Source: CNBC The U.S. economy is leading the rest of the world by returning to a basic approach of cutting taxes and letting businesses know that government is back on their side, top Trump economic...

U.S. Deficit On Track To Swell To $1 Trillion

Source: New York Times – Oct. 15, 2018 WASHINGTON — The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts...

Our Expert Commenters

Scott Smith

Scott Smith

Scott Smith is an author, entrepreneur and founder of the Foundation for a Better Economy. Through the Colorado-based foundation, Scott supports new solutions for revamping the nation’s tax and banking system. He is the author of The New Operating System for the American Economy. Scott has seeded and nurtured several technology companies. He focuses on direct investments in disruptive technologies in cloud computing, fin-tech and the Internet of Things.

Tony Siebers

Tony Siebers

Tony is a Philanthropist and Change Management Agent focused on organizational strategy, and program delivery.  He helps lead the team at The Foundation For A Better Economy, as it looks to find ways to better serve Americans and drive solutions in real estate, alternative energy, higher education, healthcare, legal and home services.

 

Emma Dahl

Emma Dahl

As an analyst for the foundation, Emma works at researching policy and studying economic trends. She also develops and handpicks content, working to manage social media systems for the foundation.

UBI News

Universal Basic Income News

UBI eliminates the stigma of welfare, and helps Americans escape the cyclical poverty trap.

Source: Basic Income Earth Network

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