Commentary: Halloween Is the Night Kids in the U.S.A. Discover Economics

Tomorrow night American kids will observe a tradition not widely celebrated in the rest of the world: Halloween. They will dress up as ghosts, witches, goblins, politicians, and other scary things, then go door to door greeting neighbors with Trick or treat! Residents will drop candy in the bags the children are carrying.

Regardless of anyone’s intention, the tradition nicely demonstrates the creativity of free exchange.

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Trump to Hold Mid-September Ohio Rally with J.D. Vance

Former President Donald Trump announced on Tuesday he will hold a rally with Republican Ohio Senate candidate J.D. Vance at the Covelli Centre at 229 East Front Street in Youngstown in the afternoon and evening of Saturday, September 17.

Trump’s arrival on behalf of Vance, who the ex-president strongly endorsed in the primary, comes as the candidate maintains a slight polling lead against Democratic opponent Tim Ryan, a congressman representing the Buckeye State’s 13th District. An August Emerson College survey showed Vance, an attorney, venture capitalist and author, with the support of 45 percent of Ohio voters while Ryan had the support of 42 percent. Another poll from the Trafalgar Group later that month showed the Republican with a four-point lead. 

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Border Agents Encountered More Than 2 Million Migrants in 2021

U.S. Customs and Border Protection (CBP) ended 2021 with more than 2 million migrant encounters.

December 2021 numbers released Monday showed that border patrol encountered 178,840 migrants at the southern border, a 2% increase from the previous month. The number of encounters in December 2021 was greater than the total number of encounters at the border in the previous three Decembers combined.

Of the migrants encountered in December, 23% of them were previously encountered by border agents in the last year. Single adults made up 64% of the encounters, a 4% increase from November.

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Securities and Exchange Commission to Crack Down on Private Companies, Heighten Disclosure Requirements

Securities and Exchange Commission building

The Securities and Exchange Commission (SEC) plans to crack down on private companies, forcing them to disclose financial and operation statements more frequently, The Wall Street Journal reported.

Regulators have grown more concerned over the lack of oversight regarding private fundraising for companies, the WSJ reported. The private investment market has become a popular way for companies to raise money without undergoing the regulatory scrutiny required for public trading.

“When they’re big firms, they can have a huge impact on thousands of people’s lives with absolutely no visibility for investors, employees and their unions, regulators, or the public,” SEC Commissioner Allison Lee told the WSJ. “I’m not interested in forcing medium- and small-sized companies into the reporting regime.”

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Commentary: The Republican Party’s Multiethnic, Working-Class Coalition Is Taking Shape

In the 2016 Republican Party presidential primary, decades of dissonance between the party’s aggrieved grassroots and its blinkered elite spilled out into the open. For years, the chasm widened between the GOP’s heartland base, the river valley-dwelling “Somewheres” from David Goodhart’s 2017 book, The Road to Somewhere, and the party’s bicoastal “Anywhere” rulers. The foot-soldier Republican “Somewheres,” disproportionately church-attending and victimized by job outsourcing and the opioid crisis, felt betrayed by the more secular, ideologically inflexible Republican “Anywheres.”

Donald Trump, lifelong conservative “outsider” and populist dissenter from bicoastal “Anywhere” orthodoxy on issues pertaining to trade, immigration, and China, coasted to the GOP’s presidential nomination. He did so notwithstanding the all-hands-on-deck pushback from leading right-leaning “Anywhere” bastions, encapsulated by National Review magazine’s dedication of an entire issue to, “Against Trump.” Trump’s subsequent victory in the 2016 general election sent the conservative intellectual movement, as well as the Republican Party itself, into a deep state of introspection.

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China Fails to Purchase Amount of U.S. Goods Promised in Phase One Trade Deal, Report Finds

China came $73.1 billion short of the total amount of U.S. goods it promised to purchase in the phase one trade deal between the two nations, according to a Peterson Institute for International Economics report.

While it agreed to purchase $173.1 billion in U.S. goods by the end of 2020, China purchased just $100 billion worth of goods, according to import data analyzed by the Peterson Institute for International Economics (PIIE). In January 2020, former President Donald Trump and Chinese Vice Premier Liu He signed the phase one trade deal, which was aimed at resolving long-running China-U.S. trade disputes, and in February the deal went into effect.

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New Durable-Goods Orders Rise Again in June

New orders for durable goods posted a second consecutive month of rebound in June, rising 7.3 percent following a gain of 15.1 percent in May. The two gains followed drops of 18.3 percent in April and 16.7 percent in March. If transportation equipment is excluded, new orders for durable goods increased 3.3 percent in June following a 3.6 percent rise in May. Durable-goods orders had been holding above the $200 billion level since May 2011 before posting sharp declines in March and April (see first chart). New orders for June are back above the $200 billion threshold, totaling $206.9 billion, but are still 21.9 percent below June 2019.

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Armstrong Williams Commentary: It’s Time to Talk About Recession

Is America in a recession? It’s an unpopular question to ask, but it has now been over 3 months since COVID-19 restrictions were initiated and it is time for us to get realistic about where we are economically so that we can take the proper steps to minimize further damage to our economy. At this point, the unfortunate reality is that regardless of what we do, it is likely that it will take at least several years to see a partial recovery of economic loss and the time that it will take for a complete recovery remains unknown at this point. 

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Tech Leads the Way as US Stocks Head for a Third Month of Gains

Stocks closed higher on Wall Street Tuesday, extending the market’s recent winning streak after another strong showing by technology companies.

The S&P 500 rose 0.4% and is on pace for its third straight monthly gain. The Nasdaq composite, which is heavily weighted with technology stocks, climbed to an all-time high for the second day in a row. Bond yields rose, another sign of increasing confidence in the economy.

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Stock Indexes Move Higher on Wall Street After a Shaky Start

Stock indexes are higher on Wall Street in choppy trading Monday as investors weigh the risks that rising coronavirus cases could pose to hopes for an economic recovery.

The S&P 500 rose 0.4% in midday trading after an initial slide of 0.6% following weakness in overseas markets as the global tally of infections approaches 9 million. The price of gold rose, a signs of caution in the market. Bond yields were mixed.

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Commentary: COVID-19 Proves America Needs Economic Nationalism

by Spencer P. Morrison   Reports of a deadly new virus began trickling out of China in December. The infection spread rapidly. By March 12, the World Health Organization deemed COVID-19 a global pandemic. The next day President Trump declared COVID-19 a “national emergency” that would require the “full power…

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Commentary: Export Bans and the Re-Emergence of the Nation-State

The COVID-19 pandemic has served to upend many long-held policy assumptions, but none so clearly as the theory that international trade rests purely on economic incentives, and that those economic incentives will always override a country’s more base instincts to act in its own interest because of the cost to global profits.

Responses from countries around the world to COVID-19 have significantly fractured this argument. It can no longer be said with unshakable confidence that nations will sidestep their own economic objectives, interests, and policies for the sake of a more profitable international economic integration.

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Mexican Protesters Block Border Traffic, Tell Americans to ‘Stay At Home’

In a seemingly-paradoxical turn of events, Mexican protesters on Wednesday blocked incoming traffic at the U.S. southern border, demanding their government do more to restrict American travel into their country.

A group of about a dozen protesters, holding signs and wearing face masks, used two vehicles to block southbound traffic coming out of a U.S.-Mexico port of entry near Nogales, Arizona, according to a report from the Arizona Republic. The protesters said their stunt was meant to highlight the dangers posed by incoming U.S. residents who may carry the coronavirus.

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Commentary: China’s Post-Virus Plan to Destroy America’s Economy

The virus that originated in Wuhan, China poses a double threat to America.

The first is to our health as the virus spreads through the U.S. population. The second is to our economy as more businesses, schools, and events shut down to slow the spread of the contagion.

We must not underestimate the economic threat because the Chinese Communist Party is using the pandemic to achieve its goal of supplanting the United States as the world’s leading economic, diplomatic, and military power.

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State Department Suspends Visa Services Across the World

The State Department is suspending visa services in most countries across the world, the Trump administration’s latest response to mitigating the spread of the coronavirus pandemic.

In a statement released late Wednesday, the State Department announced it’s cancelling all routine immigrant and nonimmigrant appoints at embassies and consulates in numerous countries. The suspensions became effective immediately, and no specific date was provided on when services would begin again.

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Commentary: Good Economic News Missing From the Mainstream Media Again

You didn’t see it on the front page of one of the establishment newspapers or in the lead segment on establishment TV, but Reuters reported the number of Americans filing applications for unemployment benefits unexpectedly fell last week, hitting their lowest level in seven months, indicating the labor market remains solid.

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Commentary: Dem Front Runner Warren Agrees With Trump on Trade and Middle East Wars

One of the more bizarre elements of last night’s Democratic presidential “debate” was how much the leading Democrat – Senator Elizabeth Warren – agrees with President Trump, especially on endless Middle East wars and the effects of trade on American workers.

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Commentary: With a Japan Trade Deal and a Strong U.S. Economy, Where Is the Trade Depression People Predicted?

Readers will recall that in the 2016 election and since then financial and political analysts were tripping over themselves to predict that if President Donald Trump won and implemented his planned trade agenda, which included tariffs, why, we’d have a global recession perhaps even as bad as the Great Depression.

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Commentary: Delaying Tariffs Is Not the Answer to China’s Trade Practices

For the past two years, President Donald Trump has argued that China was paying the cost of the trade war. Following a delay in some of the tariffs from the latest round in the dispute with China, however, the president has acknowledged for the first time that tariffs have an impact on American families.

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Forgotten Founder Pelatiah Webster: America’s First Economist

by Lawrence Reed   Everybody knows who America’s first president was, but can you identify the country’s first economist? If any man or woman deserves that description, it is surely the one who wrote this and so much more: I propose . . . to take off every restraint and…

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Commentary: From Currency Manipulation to Intellectual Theft and More, Always Remember China Cheats

by Rick Manning   China cheats. All of those who get worked up over negligible increases in U.S. tariffs on Chinese made goods, please remember this basic fact – China cheats. China manipulates their currency by artificially pegging it well below the dollar, and devaluing it further to offset tariff…

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US-China Trade Dispute Triggering Production Exodus

by Joyce Huang   U.S. tech giant Apple has reportedly asked its major suppliers, mainly China-based manufacturers from Taiwan, to consider moving 15 to 30% of their production outside of China to avoid higher tariffs imposed on U.S.-bound exports. The production migration, which analysts say is already ongoing,will hurt the…

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Experts: Tariffs in the Offing for India as President Trump Wages War on ‘Unfair Trade’

by Michael Bastach   The Trump administration’s decision to rescind trade preferences with India could be a sign that more tariffs are on the horizon, experts say. U.S. trade officials announced Friday the end of special trade treatment on $6 billion worth of goods from India because the country has “not assured…

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Commentary: Tariff Hawks Got It All Wrong When They Predicted ‘Another Great Depression’ from Trump’s America-First Trade Policies

Donald Trump

by Robert Romano   In 2016, when President Donald Trump ran on his America first trade agenda, much of the conventional wisdom was that, if implemented, his tariffs would wreck the U.S. economy. It would have the same impact as the 1930 Smoot-Hawley Act, and so the prediction goes, lead to…

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Commentary: The Win-Win Scenario of Further ‘Retaliation’ by China

by Robert Romano   On May 10, the South China Morning Post published a report, “Will China use its US$1.2 trillion of US debt as firepower to fight the trade war?” speculating that China might have potential leverage against the U.S. after President Donald Trump levied 25 percent tariffs on a total…

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Despite Further Talks, No US-China Deal Yet

President Trump and the vice premier of China confirmed on Thursday that while significant progress has been made, there is no new trade agreement yet between the world’s two largest economies. “We’re certainly getting a lot closer,” Trump said sitting at his desk in the Oval Office with Chinese Vice…

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Steve Cortes Commentary: The U.S. Economy Is Proving Critics Wrong Yet Again

by Steve Cortes   The booming U.S. economy is proving the Democrats wrong yet again — liberals keep predicting a recession, but businesses just keep on hiring. According to the recently published data from the Department of Labor, nonfarm payrolls surged by 304,000 jobs in January, nearly doubling the 165,000 jobs that…

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Despite Current Tariffs, the US Can Expect a Trade Deficit of $410 Billion with China

Donald Trump, Xi Jinping

by Robert Romano   Last month, China reported growth of its economy in 2018 at 6.6 percent, the lowest in 28 years. The slowdown is real enough but whether it results in a grand trade deal by the U.S. and China may depend on how much pain China is really feeling…

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Leaders Skip Davos Amid Domestic Troubles, Anti-Globalist Backlash

The World Economic Forum summit in Davos, Switzerland, that wrapped up Friday, had some notable absentees, including President Donald Trump. With a backlash against a perceived ruling elite gaining ground in many countries, analysts say some leaderssteeredclear of a gathering often seen as an inaccessible club for the world’s super-rich.…

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American Farmers Support Trump Despite Tariffs

by Tim Pearce   American farmers are sticking behind President Donald Trump despite a trade agenda that makes selling produce to foreign countries more difficult and less profitable, Bloomberg reported. The United States’s ongoing trade war with China is a primary concern for U.S. farmers that sell crops, especially soybeans, overseas. While Trump’s view…

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China Factory Activity Shrinks for First Time in Two Years

China’s factory activity shrank in December for the first time in more than two years, an official survey showed Monday, intensifying pressure on Beijing to reverse an economic slowdown as it enters trade talks with the Trump administration. The purchasing managers’ index of the National Bureau of Statistics and an…

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Commentary: The Arrest of Huawei Executive Meng Wanzhou Helps Negotiations with China

by Steven W. Mosher   Wall Street is worried that the arrest of Huawei Vice Chairman Meng Wanzhou will put President Trump’s ongoing trade negotiations with China on ice. They fear that China may retreat from its G-20 promises, or perhaps even call off the negotiations altogether. Some have suggested…

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Bob Lighthizer Compared to ‘General Patton’ in Leading the Way on Trade Talks with China

by Natalia Castro   While some have been critical of President Donald Trump’s use of tariffs to win the trade war with China, one analyst is arguing these tariffs have been one of many tools used by the Trump administration to push China to comply with fairer trade deals. Last…

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Herman Cain Commentary: Five Things We Can Be Thankful For in the Trump Era

by Herman Cain   It’s the season of gratitude and time to take measure of the great ways we can appreciate all that we have as Americans. Here are five things that Donald Trump has done for our country, for which we can all be grateful as one nation. Historic Prosperity…

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