Detroit real estate game creates chaos in neighborhoods…
Category: Economy
White House Falsely Claims Trump Has Created More Jobs for Black Americans Than Obama Did
‘Fact Check of the Day: Sarah Huckabee Sanders said the economy added only 195,000 jobs for African-Americans under President Barack Obama. In fact, it added about 3 million.’
Trump administration cuts dozens of staff at financial markets…
This seems like a great idea.
‘The Trump administration moved on Wednesday to drastically shrink a government agency tasked with identifying looming financial risks, notifying around 40 staff members they would be laid off, according to a person familiar with the changes.’
Federal deficit jumps 20 percent after tax cuts, spending bill
‘The federal deficit jumped 20 percent in the first 10 months of the 2018 fiscal year, the Congressional Budget Office (CBO) reported Wednesday.
Spending outpaced revenue between the beginning of the fiscal year, on Oct. 1, and July by $682 billion, $116 billion more than over the same period in the last fiscal year.
The rising deficit is largely the result of the tax cuts President Trump signed into law at the end of last year, as well as a bipartisan agreement to boost spending, according to CBO.’
Trump administration to hit Russia with new sanctions for Skripal poisoning
UPDATE: Russian sources have already published the full sanctions bill – ahead of any US exposure. I wonder how they got it? – in comments
Note that these are Congressional and not coming from the President. Great news all around!
‘The State Department just announced that the U.S. has determined Russia violated the Chemical and Biological Weapons Control and Warfare Elimination Act by poisoning former Russian spy & his daughter. Sanctions will go into effect later this month.’
‘Approved by Donald Trump’: Asbestos sold by Russian company is branded with the president’s face
We need our elected officials to look into what motivated Trump’s EPA proposal that would allow for new uses of asbestos.
Here’s a start. 
👇🏽
Russia will soon be the sole asbestos supplier to the United States.
91 Days, Vote.
‘Asbestos, a fibrous silicate mineral that was used widely in industrial and commercial purposes such as construction in the United States, has fallen out of favor in many applications after a large body of scientific evidence connecting exposure to serious health concerns. Its use is restricted in the United States, though it has never been outright banned, as it has been in at least 60 other countries.’
Voter turnout shatters recent records for Michigan primary elections
This is the best news. Everyone needs to vote in November.
‘Voter turnout in Tuesday’s primary election in Michigan shattered records going back at least as far as 1978, a state election official confirmed early Wednesday.
More than 2 million votes were cast, and based on still incomplete and unofficial election returns, it appears voter turnout was close to 28 percent.’
Trump: Sanctions reinstated against Iran for “world peace”
“I am asking for WORLD PEACE, nothing less!”
The stiff economic sanctions ratchet up pressure on the Islamic Republic despite statements of deep dismay from European allies, three months after Trump pulled the U.S. out of the international accord limiting Iran’s nuclear activities.
Trump declared the landmark 2015 agreement had been “horrible,” leaving the Iranian government flush with cash to fuel conflict in the Middle East.
Facebook asks U.S. banks for financial info to boost user…
YSK: ‘Facebook Inc has asked large U.S. banks to share detailed financial information about their customers, as part of an effort to offer new services to users, The Wall Street Journal reported on Monday, citing people familiar with the matter.’
The US is at Risk of Losing a Trade War with China | by Joseph E. Stiglitz
The US is at Risk of Losing a Trade War with China | by Joseph E. Stiglitz
project-syndicate.org
‘Beyond the true, but by now platitudinous, assertion that everyone will lose, what can we say about the possible outcomes of Trump’s trade war? First, macroeconomics always prevails: if the United States’ domestic investment continues to exceed its savings, it will have to import capital and have a large trade deficit. Worse, because of the tax cuts enacted at the end of last year, the US fiscal deficit is reaching new records – recently projected to exceed $1 trillion by 2020 – which means that the trade deficit almost surely will increase, whatever the outcome of the trade war. The only way that won’t happen is if Trump leads the US into a recession, with incomes declining so much that investment and imports plummet.’