A top level Chinese operative illegally funneling money to Iran via U.S. and Canadian financial institutions will be allowed to return to China. Meng Wanzhou, CFO at Huawei technology (which operates a “Huawei USA” subsidiary), had been charged in a Brooklyn Court in 2019 on 13 counts of wire and bank fraud, conspiracy, money laundering...
Tag: sept 28 2021
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BLINKEN: EVERY PROBLEM IS RESULT OF “CLIMATE CRISIS”
Did Secretary of State Anthony Blinken actually claim at a UN Meeting on 23 September that every problem currently besetting the world is a result of a climate change crisis? In so many words, yes. During comments at a UN Security Council Meeting on Climate and Security, Blinken tied a wide list of conflict spots...
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GEN Z USING LAWMAKERS AS STOCK ORACLES
Can’t beat the corruption? Trade on it. That’s the premise of House Stock Watcher and Senate Stock Watcher, two public databases created by Tim Carambat in 2020. And the social media platform Iris. And various Reddit forums and Tik-Tok communities. Carambat’s databases contain up-to-the-moment lawmaker financial transactions, compiled from required financial trading disclosures of members...
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AMERICA’S RICHEST 400 FAMILIES PAY A TINY PERCENT OF FEDERAL INCOME TAX COMPARED TO THE WORKING CLASS
The White House released a report on Wednesday showing that America’s 400 richest families pay an average 8.2 percent federal income tax rate from 2010 to 2018 compared to the average American who paid 13.3 percent, according to CNBC. The late-great comedian George Carlin noted, “It’s one big club and you ain’t in it.” The Trends Journal’s...
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WORLD’S LARGEST ADVERTISING GROUP A CRIME GROUP
WPP, the world’s largest advertising agency, agreed to pay more than $19 million to the U.S. Security and Exchange Commission over allegations that it paid bribes to government officials in India and took part in “illicit schemes” in China, Peru and Brazil. The Financial Times reported that the company is accused of illegally funding the...
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GENERAL MILLS SALES UP AND SO IS AMERICA’S WAISTLINE
General Mills, the maker of Lucky Charms, Cinnamon Toast Crunch, and Cocoa Puffs, reported better-than-expected earnings last week, which was seen as a hopeful sign for the packaged-food industry—and likely a devastating indicator for the country’s health. The company’s stock has been down about 1 percent this year, which pales in comparison to the S&P...
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IRON ORE PRICES SLUMP ON DEMAND OUTLOOK
Iron ore prices have fallen by nearly half from their 20 July high above $219 per ton under pressures from China’s slowing property market, The Wall Street Journal reported. The price opened this week at $119 after plunging to $94 on 20 September. Evergrande, China’s largest property developer, owes more than $300 billion that it...
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NORWAY BECOMES FIRST “GROUP OF 10” COUNTRY TO RAISE INTEREST RATES
Norges Bank, Norway’s central bank, has raised its base rate from zero to 0.25 percent, citing business activity’s return to pre-COVID levels, a high COVID vaccination rate, and unemployment of just 2.7 percent. Another hike is likely in December, bank officials said, and as many as five more next year. Norges Bank is the first...
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DEVELOPMENT BANK TRIMS ASIA GROWTH FORECAST
Collectively, Asia’s developing nations will grow the region’s economy 7.1 percent this year, the Asia Development Bank (ADB) projected, instead of 7.3 percent, as the bank had forecast earlier. COVID’s Delta variant, the area’s slow and uneven progress in vaccinating citizens, and renewed lockdowns and restrictions on businesses and movement are to blame for the...
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RISKY LOAN BACKERS BEWARE
The next default crisis is taking root in the junk-bond and leveraged-loan markets, according to analysts at the S&P Global credit ratings service. As risk rises, interest rates typically do also to compensate investors for the greater chance of losing their money, the analysts note, but “just the opposite is now true,” they wrote in...
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