Infowars: “Since Trump won, companies like Carrier, Ford, Softbank, US Steel, and now Alibaba have all pledged to collectively bring over a million jobs to the US, which surpasses Obama’s 800,000, a claim recently made by White House Press Secretary Josh Earnest.
In other words, Trump is on track to save more jobs than Obama has in two terms and he hasn’t even been sworn in yet.”
Opinion: What has changed? The US corporate tax rate is still the highest in the world. Thousands of pages of anti-business regulations are still on the books and you know who is still in office.
What is so astounding is that just the promise of lowering the highest corporate tax rate in the world, and to get rid of thousands of job-killing regulations is bringing a flood of money and jobs back to America, a concept that the left has never understood.
The Obama Cabinet had the fewest business people of any presidency ever.
The New American: “Heading into negotiations this past weekend between the California governor’s office, teachers’ unions, and pension plan trustees managing the California Public Employees’ Retirement System (CalPERS), Governor Jerry Brown spoke the truth:
“There’s no doubt CalPERS needs to start aligning its rate of return expectations with reality.”
Opinion: Our December 10 post “In Unprecedented Move Dallas Pension System Suspends Withdrawals”, we opined:
“The government and municipal pension plans were/are pegged to an 8% return. Since November 8, 2016 most plans are hemorrhaging from bond losses while pension managers are bound to strict asset allocation models as fiduciaries, and can’t sell the bond portion of the portfolios – even if they wanted to.”
The Federal Reserve is planning to raise interest rates three more times this year which will only make matters worse.
The good news: California Public Employees’ Retirement System (CalPERS) is a little better off than Dallas in that they only pegged the plan returns to 7.5%.
The bad news: CalPERS during the 12-month period ending June 30, 2016, returned less than one percent: 0.61 percent to be exact. A shortfall of $340 billion dollars.
While investors are cheering the Dow Jones Index near 20,000, the bond market has plummeted with losses over $1.2 trillion.
The 2,626 people in the CalPERS pension plan, like in Dallas, may not be smiling long.
Washington Examiner: “The new regulations, according to the watchdog group American Action Forum, include four from the Environmental Protection Agency and one from Interior. “These five measures alone could impose $5.1 billion in costs and more than 350,000 paperwork burden hours. In addition, three other rules in proposed form could add $898 million in burdens[...]
CNBC: “Call it the Trump rally in homebuilding — not the stocks, but the sentiment of the builders themselves. A monthly reading of homebuilder confidence spiked 7 points in December, its first measure done after the presidential election.” Opinion: Optimism is contagious. Despite the Federal Reserve’s announcement that it will raise interest rates three more times[...]
Investors Business Daily Op-Ed: “Monetary Policy: It was a foregone conclusion that the Fed would raise rates by a quarter point this week. No surprise there. What was a surprise was the sudden hawkish tone. Are they trying to tamp down enthusiasm after Donald Trump’s election? It sure looks that way. Instead of just two rate[...]
Bloomberg News: “President-elect Donald Trump’s race to enact the biggest tax cuts since the 1980s went under a caution flag Monday as Senate Majority Leader Mitch McConnell warned he considers current levels of U.S. debt “dangerous” and said he wants any tax overhaul to avoid adding to the deficit. “I think this level of national[...]