Who will cash in on US trade wars & how to get around the tariffs? RT’s Boom Bust has the answer
RT’s Boom Bust talked to Richard Wolff, a professor emeritus of economics at the University of Massachusetts, to find out which nations may capitalize on the trade turmoil, and if China would inevitably lose its former markets, including the US.According to the expert, domestic and foreign companies in China started looking for the cheapest labor across Asia and all over the world long before the tariffs due to the dramatic increase in wage costs in China. Professor Wolff stressed that there are many ways, legal or illegal, to get around the import tariffs. Also on rt.com Mass exodus of US firms from China amid trade war won’t mean they’ll be coming home, survey shows “For example, long before the US even recognized the People’s … [READ MORE...]
The Last, Best Press Agent
But, as Mr. Presten likes to say, listen to this: One day, Ms. Anderson went into a small shop on Madison Avenue and 58th Street called Salem Hosiery. The owner’s son, Michael Salem, had started an offshoot of his family’s hosiery business by selling undergarments to closeted, cross-dressing men who came in to buy lingerie for their “wives and girlfriends.” Mr. Salem ultimately advertised in Penthouse magazine and introduced Mr. Presten to the son of the publisher, 19-year-old Bob Guccione Jr., who would go on to found Spin magazine. Then, he was peddling a three-page poster magazine called Rock Superstars.Mr. Presten sent the younger Mr. Guccione to speak at a school in Harlem and put him on Barry Farber’s radio show. He turned the affable Mr. Salem into a clip machine, with his … [READ MORE...]
This Legislation Could Force Stores to Take Your Cash
Ms. Pou, who represents the Paterson area, said that she had many constituents who lack bank accounts, including low-income families deterred by fees and minimum balance requirements. (A report by the Federal Deposit Insurance Corp. in 2017 estimated that 6.5 percent of American households were “unbanked.”) Older adults also may not have electronic payments set up, or be comfortable using them, she noted.The penalties in the proposed bills range from hundreds to thousands of dollars. In the New Jersey bill, they could go up to $5,000 for a second offense. A spokesman said the governor was considering whether to sign the legislation.Ms. Pou said that business groups and Amazon had expressed opposition to the bill, and she worked with businesses to include exceptions, including for airports, … [READ MORE...]
Latest News
Trump Team Vets Fed Critic for Board Seat
Still, while four of Mr. Trump’s Fed nominees were confirmed, his two most recent formal nominations — Nellie Liang and Marvin Goodfriend — were never cleared by lawmakers. And neither Mr. Moore, a political commentator, nor Mr. Cain, a former presidential candidate, was ever formally nominated after concerns about past issues surfaced.Ms. Shelton would be an unconventional pick for the Federal Reserve’s board of governors. Her preference for a linked currency — one tied to gold or some other … [Read More...]
The Economy Is Strong and Inflation Is Low. That’s What Worries the Fed.
John Williams, the president of the Federal Reserve Bank of New York, has warned that could unleash a dangerous feedback loop. During a recession, central banks won’t be able to cut rates by enough to ever coax inflation back up to target, and expectations will fall further with each passing business cycle.“The facts have changed, and so it is time our change our minds also,” he said in a recent speech, urging a global rethink of economic policy.As part of the Fed’s strategy review this year, … [Read More...]
With Interest: The Week in Business: A Facial Recognition Ban, and Trade War Blues
Want this column in your inbox? Sign up here.Hello! I’m filling in this week for Charlotte, who’s off tallying her losses from the recent stock market dive. Here’s what you need to know in business news. MAY 12-18What’s Up? Now You See MeNow you definitely don’t. At least, not if you’re an artificially intelligent machine in San Francisco. The city’s Board of Supervisors voted on Tuesday to prohibit the use of facial recognition technology within city limits. It’s a somewhat symbolic move: The … [Read More...]
U.S. Birthrate Drops 4th Year in a Row, Possibly Echoing the Great Recession
That is below the rate at which a generation can replace itself, a deficit that has occurred every year for the last 10 years and has become almost expected in the United States since 1971. The report calculated the replacement level as 2,100 births per 1,000 women.The long-term decline in both the birth and fertility rate is bringing the United States more closely in line with other wealthy countries. In Canada, the total fertility rate in 2017 was 1,496.1 births per 1,000 women, according to … [Read More...]
Previous news
- White House Reassesses Auto Tariffs as It Focuses on China Fight
- Alice M. Rivlin, 88, a Leading Government Economist, Is Dead
- Uber Drivers Are Contractors, Not Employees, Labor Board Says
- Alice M. Rivlin, Leading Government Economist, Dies at 88
- The New New World: In China, Some Fear the End of ‘Chimerica’
Small Business
This Legislation Could Force Stores to Take Your Cash
Ms. Pou, who represents the Paterson area, said that she had many constituents who lack bank accounts, including low-income families deterred by fees and minimum balance requirements. (A report by the Federal Deposit Insurance Corp. in 2017 estimated that 6.5 percent of American households were “unbanked.”) Older adults also may not have electronic payments set up, or be comfortable using them, … [Read More...]
Fixtures: The Baumans, Sellers of Really, Really Rare Books
In a town of sparkle and flash, rare books are an anomaly, but for the Baumans, they are lucrative. One visitor spent $400,000 on “The Great Gatsby” and McKenney and Halls’ “History of the Indian Tribes of North America” in a single visit. Another, a quiet man in shorts, flip-flops and a T-shirt spent $15,000 on a first edition of “Huckleberry Finn” and then several weeks later returned to pick … [Read More...]
Your Money
Your Money Adviser: Interest Rates on New Federal Student Loans Will Dip Slightly
The amount of federal loans that undergraduate students can borrow is capped each year, depending on the student’s year of college. The maximum is generally $5,500 for freshmen, $6,500 for sophomores and $7,500 for both juniors and seniors. The amount borrowed over all is limited to $31,000.Students who need to borrow more may have their parents take out PLUS loans or turn to private loans made by … [Read More...]
Interest Rates on New Federal Student Loans Will Dip Slightly
The amount of federal loans that undergraduate students can borrow is capped each year, depending on the student’s year of college. The maximum is generally $5,500 for freshmen, $6,500 for sophomores and $7,500 for both juniors and seniors. The amount borrowed over all is limited to $31,000.Students who need to borrow more may have their parents take out PLUS loans or turn to private loans made by … [Read More...]