No Excuses

ThinkProgress: Trump confidant dumped millions in steel-related stock last week (Also the Trade War thread)

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It's not because of Trump.  It's because of clim- . . .  let me get back to you.  

 

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6 hours ago, visionary said:

 

 

30 minutes ago, GoSkinsGo said:

Do people really believe that China is paying these tariffs?  If so, that’s a hell of a con job. 

 

You new around here?  You think that line is tougher to swallow than, say, that Donald Trump has been completely cleared of colluding with Russia during the election?  That the economy is vastly better than when Trump took office?  

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6 hours ago, visionary said:

 


China is hurting from this trade war too. Only difference is that Xi doesn’t have run for re-election and no one is free to protest their slowing economy. Trump probably wishes he had that luxury. 
 

 

Edited by No Excuses

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Huawei moving US research center to Canada

 

BEIJING (AP) - The founder of Huawei says the Chinese tech giant is moving its U.S. research center to Canada due to American sanctions on the company.


In an interview with Toronto's Global and Mail newspaper, Ren Zhengfei said the move was necessary because Huawei would be blocked from interacting with U.S. employees.

 

Huawei Technologies Ltd. is the No. 2 global smartphone brand and the biggest maker of network gear for phone carriers. U.S. authorities say the company is a security risk, which Huawei denies, and announced curbs in May on its access to American components and technology.

 

The Trump administration announced a 90-day reprieve on some sales to Huawei. The government said that would apply to components and technology needed to support wireless networks in rural areas.

 

Ren gave no details but Huawei confirmed in June it had cut 600 jobs at its Silicon Valley research center in Santa Clara, California, leaving about 250 employees. A Huawei spokesman said the company had no further comment.

 

"The research and development center will move from the United States, and Canada will be the center," Ren said in a video excerpt of the interview on the Globe and Mail website. "According to the U.S. ban, we couldn't communicate with, call, email or contact our own employees in the United States."

 

Huawei, China's first global tech brand, is scrambling to preserve its business in the face of possible loss of access to U.S. components, which threatens to damage its smartphone business.

 

Click on the link for the full article

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The blood of poor Americans is now a leading export, bigger than corn or soy

 

America is one of the only developed countries in the world that pays people to donate blood, much of it sold abroad (70% of the world's plasma is of US origin), and as commercial blood donations have soared, blood now accounts for 2% of the country's exports -- more than corn or soya.

 

There's more growth ahead for blood products, expected to "grow radiantly" according to an analyst who was cheering 13% growth between 2016-17.

 

One study found that the typical blood-seller derives a third of their income from selling blood. Princeton's Kathryn Edin called the commercial blood industry "the lifeblood of the $2 a day poor."

 

Mintpress's interviews with blood-sellers reveal "a mix of disabled, working poor, homeless, single parents, and college students," who describe a system of arbitrary and predatory payments, which fluxuate wildly from day to day.

 

Chronic bloodletting produces lethargy and cognitive impairment.

 

Click on the link for the full article

 

  • Confused 1

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24 minutes ago, visionary said:

 

 

 

 

 

"North Korea has agreed to complete denuclearization."  

 

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1 hour ago, visionary said:

 

The fact that we're choosing to slowly leak out bits and pieces of our new deal, over a weekend, does not say anything at all about what we think of the deal.  It's a great deal.  A fantastic deal.  

 

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While we toss out the unemployment numbers as sign number 1 and stock prices as sign number 2 of how great our economy is doing, I worry they are masking a real weakness,  From the jobs report article,

"Diane Swonk, chief economist at the accounting firm Grant Thornton, noted that manufacturing contracted for the fifth straight month in December, according to the closely watched Institute for Supply Management survey. That marks the index’s lowest level since June 2009.

Retail, meanwhile, is still up against razor-thin margins and bricks-and-mortar store closures. Pier 1 Imports announced it planned to close up to 450 stores after a 13 percent drop in quarterly sales. Macy’s will close 29 stores in the next few weeks."

 

I combine that with the high numbers of bankruptcies in the American farming sector, and I do not get the happy picture being portrayed in the media.  Are these not concerning for most Americans?  I left off the slow wage growth and difficulties hiring due to a lack of people taking the jobs currently vacant. I may sound like Chicken Little saying the sky is falling, but I worry we may be in for an economic shock of a correction.

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While things like unemployment are not the sole yardstick for the economy, they do have the advantage of being the traditional yardstick. As opposed to cherry picked data. 

 

Now, me, I do think we need to admit that our trillion dollar deficits might be inflating those numbers some. 

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