Category Archives: Economy
Facebook says it would like to add your bank account to its data mining operations.
On Thursday Apple became the first company ever to be valued over a trillion dollars.
Trillion Dollar Apple
That’s a number equal to one fourth of annual federal spending. Or one twentieth of the federal debt.
The stock market unfriended Facebook yesterday. Investors vaporized $119 billion of Facebook’s value – 20% of the company’s market cap. It was the biggest 24 hour stock sale in history.
Facebook Face Plant
Hope his student loan is paid off.
President Trump doesn’t want the Fed to raise interest rates. And he said so. Which is frowned on since the Fed is supposed to be independent.
It’s also awkward for Trump’s chief economic advisor Larry Kudlow, a strong advocate for a strong dollar. Or King Dollar as he likes to say.
Trump hired Kudlow in March. But in February here’s what Kudlow had to say on CNBC:
A strong dollar is an essential pillar of economic prosperity with minimal inflation, but we worry that the White House has not adopted this strategy. So we urge the Trump administration to return to the successful “King Dollar” policies that worked in the 60’s, 80’s and 90’s.
Uh oh. He went on to say:
We also worry that the recent widening trade deficit numbers will further tempt the administration into a weak dollar strategy.
President Trump thinks Harley-Davidson is a traitorous Trade War surrender monkey. It wasn’t always that way. That is until the E.U. slapped a 31% tariff on the company in response toTrump’s 25% tariffs on E.U. steel and aluminum.
Trump had considered Harley to be part of his base. But he left the motor cycle maker in a tough spot. His tariffs coupled the E.U. hit could add $2,200 to the price of each bike.
Harley’s customer base consists of American Baby Boomers. And they’re getting too old and fat to ride the Hogs. So the company looked abroad, building plants in Brazil, India and Thailand. And it plans a new plant in the E.U. which would dodge the tariff.
Trade War Surrender Monkey
That didn’t sit well with Trump. He tweeted that Harley raised the “white flag” and he threatened to tax them like “never before.”
Whatever that means.