Category Archives: Economy
Thanks to tax reform and deregulation the economy is booming and the stock markets are soaring. Apple is returning billions to the U.S. And other companies are offering pay raises and bonuses.
So Trump celebrated by slapping 30% tariffs on imported solar panels and washing machines.
New Davos Man
On Friday he speaks to the global ruling class in Davos Switzerland. Maybe I should have had the new Davos Man blowing “America First.” Or “Trade War.”
The Dow hit another record high yesterday. Unemployment is at a record low. Though The Hill says the 4.1% rate is more like 8% when you include the underemployed. At any rate over half of those polled by CNBC rated the economy as “good” or “excellent.
Yet life expectancy declined in the U.S. from 76.3 to 76.1 years for men. The rate for women held steady at 81.1 years. The Washington Post reported that 63,632 people died of overdoses in 2016 and 42,000 of those were from opioids.
National Review’s David French notes that more people died from overdoses last year than in the entire Vietnam war.
This didn’t sit well with President Trump. Trump tweeted that Bannon “lost his mind” when he fired him. The Avenging Donald then sicced his lawyers on Wolff – guaranteeing best seller status for the book .
CNN’s Brian Stetler claims Wolff’s book “suggests Trump is unstable and raises alarms about his fitness for office.”
But CNN also reports that Secretary of State Tillerson, once accused of calling Trump a moron, never questioned the president’s mental health. And the White House deputy press secretary called Wolff a fake news, crackpot fantasy fiction writer.
Wolff agrees! A note in the front of his book says some of his sources definitely lied to him.
Dow Up Bannon Down
Whatever. If it’s stability you want, the Dow steadily rose above the 25,000 mark.
Stock analyst Paul Gambles is terrified about that too.
In a WSJ op-ed, Mark Duowitz and Ray Takeyh describe the current uprising in Iran. They say it differs from the Green Revolution which was about election fraud. This one began “over economic grievances and quickly transformed into a rejection of theocracy.”
The protesters are angry that $100 billion in Iranian assets unfrozen by the Obama administration haven’t trickled down to the people. Instead the money has gone to support militias in the Middle East and energy and weapons for Bashar Assad in Syria.
So, instead of chanting “Death to America” they now shout “Death to Khamenei” and “Death to Rouhani!”
Apple is sorry it slowed your old iPhone 6. But the company wasn’t trying to force you to buy a new one. Just saving the batteries of the old ones.
Meanwhile, Apple compensated C.E.O. Tim Cook $89 million in stock options, along with another $12 million cash.
He won’t be using airplane mode on his iPhone either. Apple wants him to fly strictly private.