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Janet Yellen: Economy is getting closer to "running on its own"

[Yellen] said the long-run unemployment rate is probably 4.75 percent, just above the current 4.7 percent. Inflation is "inching back" toward the Fed's 2 percent goal, which has remained elusive even as the economy has stayed out of recession for nearly eight years and unemployment is at its lowest level since late 2007. Show More Summary

House Plan For Trump-ish "Border Adjustable Tax" Will Likely Hit WTO Wall

``...the DBCFT would impose a flat 20 percent tax only on earnings from sales of output consumed within the United States... It gets complicated, but the upshot is that the cost of imported supplies would no longer be deductible from taxable income, while all revenue from exports would be. Show More Summary

The Dollar, "the Most Crowded Trade," Gets Less Crowded

``On Tuesday, the dollar fell 1.25% against the basket of currencies in the Dollar Index. The index is down 3% since its peak at the end of 2016. US companies that report in dollars but have sales and income outside the US in other currencies -- which is much of the S&P 500 -- love this. Show More Summary

Troubled Deutsche Bank Scraps Senior Bankers' Bonuses for 2016

Deutsche Bank AG scrapped the bonuses of its top executives for a second straight year and slashed variable compensation for other senior employees, as Germany's largest lender tries to shore up capital that's been eroded by low interest rates and legal expenses. Show More Summary

Cash-Out Refinance Vs Home Equity Loan: The Better Deal Might Surprise You

If you need money today, you;re lucky. Today's cash-out refinance rates and cheap home equity financing make borrowing a bargain. But which loan is the cheaper choice for you?

Home Builders Seeing Best Buyer Foot Traffic In A Decade

Home builder confidence remains strong in January, with low mortgage rates and rising rents. Builders predict 2017 will be a banner year for real estate.

China Housing Bubble Finally Pops: First Slowdown After 19 Months Of Acceleration

``... it is on an annual, population-weighted basis, where we got the first confirmation that the latest Chinese housing bubble has finally popped, as housing prices across the 70 cities were up 12.7% Y/Y, below the 12.9% annual growth rate in November. This was the first moderation in year-over-year housing price growth after 19 months of continued acceleration.''

Monsanto-Bayer: Trump noses into one of the world's biggest mergers (AND FINDS COMPLEX JOB/COMPETITION CALCULUS)

Trump asked specific questions about the $66 billion merger they are in the middle of, according to people briefed on the meeting. The companies committed to $8 billion in new research and development, along with 3,000 new jobs and a...Show More Summary

Walmart touts boosting U.S. job count by 10,000

Retail giant Walmart said Tuesday that it will create 10,000 new retail jobs in the U.S. this year, the latest American company to promote its domestic-focused hiring and investment ahead of Friday's transfer of power from President Obama to President-elect Donald Trump. Show More Summary

Gundlach's Projections: Stocks Will Correct; Euro Will Deteriorate

``I look for the stock market to make new highs in the first part of the year, but when rising interest rates bite, stocks will fall. I see a single-digit decline for the full year. Finally, Gundlach was asked "what will we be talking about this time next year." His simple answer: "Trouble in the euro zone."''

Survey Says: Americans Already Hate Their Incoming "Populist" President

The CNN/ORC poll shows 53 percent of Americans view Trump unfavorably, while only 44 percent have a favorable opinion of the incoming president. In the ABC News/Washington Post poll, Trump's favorable rating is just 40 percent, with 54 percent having an unfavorable opinion. Show More Summary

Why the Price of Gold Will Rise 15.2% This Year

``As you can see, the last week of 2016 marked a tremendous shift in gold price sentiment. From Dec. 23 to Dec. 30, the percentage of bullish gold analysts and traders soared by about 50%. The following Bloomberg survey on Jan. 6 saw another 20% increase, putting the total percent of bullish surveyed participants at 70%. Show More Summary

A Hint of Gold Backwardation Means Rising Gold Scarcity

`` The bid sputtered 8 years ago, and intermittently since then. Then it has mostly been steady in the past few years. And now there is a hint of it, in the February gold contract. It's just what we call temporary backwardation--a short term blip confined to the near contract that is heading into expiry.... Show More Summary

Crazy Housing Reality Shows Are Back

[The shows don't want] too much to think about.  Real estate buying is simple!  It never goes down!  If this dingbat couple bought then surely "I" with my genius IQ and my spouse will live happily ever after so long as we buy.  No one...Show More Summary

Bombshell as Trump just signaled the death of Clinton-era strong "dollar policy"

Presidents in recent history have refrained from talking the currency up or down, and Chandler says going back to Clinton Treasury Secretary Robert Rubin, the policy has been for a strong dollar. Even when the dollar's strength created headwinds, administrations have stood by it, at least verbally. Show More Summary

GM to invest $1 billion in U.S. [APPEASING, BUT PROBABLY NOT DUE TO] Trump

The automaker also said it plans to bring thousands of information technology jobs back to the U.S. from overseas, creating a total of 7,000 new jobs in the U.S. when the IT jobs and new manufacturing jobs are combined. The company simultaneously...Show More Summary

Theresa May Elaborates on Brexit: 4 Quotes and What They Mean

"I must be clear. Britain wants to remain a good friend and neighbor to Europe. Yet, I know there are some voices calling for a punitive deal that punishes Britain and discourages other countries from taking the same path. That would be an act of calamitous self-harm for the countries of Europe. Show More Summary

Life Without Money in Detroit's Survival Economy

Detroiters like Cassells, after years of privation, have turned to what experts call a gift economy to survive. Theirs is an alternative economy based on time banking, skill-sharing, and giveaways--home-grown vegetables, a roof repair, spare keys to a shared car--in which neighbors give as they can and take as they need. Show More Summary

China's Xi Jinping Seizes Role as

“No one will emerge as a winner in a trade war,” Mr. Xi, the leader of the world’s second-biggest economy, said in hourlong speech on Tuesday to members of the world elite gathered for the annual World Economic Forum. “Pursuing protectionism is just like locking one’s self in a dark room. Show More Summary

Peak Savings: Wall Street Faces 20 Years Of Retirement Withdrawals As Boomers Hit 70 1/2

America's aging population [will be] forced by IRS regulations to take retirement withdrawals once they hit 70 1/2 years of age... over the past 2 decades Americans have consistently contributed more than they've withdrawn from tax deferred accounts, excluding recessionary periods. Show More Summary

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