Crypto News Regulators 

We talked to Nobel Prize-winning economist Paul Krugman about tax reform, Trump, and bitcoin

“Even that Tax Policy Center analysis that we were discussing, they assume that about 20% of the corporate tax is ultimately borne by workers” writes Graham Rapier for businessinsider.com. Also, about a third, we think, of the corporate tax cut benefit to after-tax corporate profits will actually go to foreigners.If you ask what happens in the first year from a corporate tax cut, none of it goes to workers. Source: businessinsider.com Share This:

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GBP News 

UK public becoming more pessimistic over Brexit economic impact

“The British public has become more pessimistic about the economic impact of Brexit, a major new survey for the Bank of England has found” writes Ben Chu for independent.co.uk. The UK economy is projected to grow by just 1.5 per cent over 2017 by the Office for Budget Responsibility.A survey by NMG of some 6,000 households, conducted in September, shows that the proportion of households expecting leaving the European Union to harm the UK economy has risen since the second half of 2016.The NMG survey, published as part of the Bank’s Quarterly…

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Markets News 

Why the yield curve flattening — a recession red flag — is the ‘real deal’

“See: Should investors still worry if the yield curve sends this ominous signal?” writes Sunny Oh for marketwatch.com. Gundlach pointed out that previous attempts to look past the yield curve’s predictive abilities have ended poorly.History has been replete with well-respected central bankers unperturbed by those who see the indicator as a bond market Cassandra.The slope of the yield curve offers a simple way to get a pulse on the market’s expectations for interest rates, and accordingly, economic prospects. Source: marketwatch.com Share This:

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News Stocks 

Marathon Petroleum to sell GP economic interest in MPLX for over $10 billion in MPLX shares

“Based on Thursday’s closing price for MPLX shares of $37.94, the deal is valued at $10.43 billion” writes Reporter Editor for marketwatch.com. After the deal’s closing, which is expected to be Feb. 1, 2018, Marathon will own about 64% of MPLX shares outstanding.MPC, +0.80% said Friday it agreed to sell its general partner economic interest in MPLX LP, a master limited partnership formed to develop and acquire midstream energy assets, to MPLX in exchange for 275 million MPLX shares. Marathon’s stock has gained 9.6% year to date, while MPLX shares…

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Markets News Stocks 

Stocks slip as investors eye tax reform, digest latest economic data

“U.S. stocks were slightly lower Thursday afternoon, as investors digested the latest economic data and the press for tax reform” reports foxbusiness.com. Marc Rubio is reportedly a “no” vote on tax reform, unless the bill expands the childcare tax credit.According to the Commerce Department, November retail sales increased by 5.8% year-over-year, and 0.8% versus the prior month.Economic data released today included retail sales, which provided yet another piece of evidence supporting a strong U.S. economy.Meanwhile, market participants were still eyeing the progress of passing tax reform. Source: foxbusiness.com Share This:

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Markets News Stocks 

How you feel about Trump’s economy probably depends on whether you own stocks

“If you play the stock market, then you’re far more likely to approve of what President Donald Trump has done to the economy” writes Joe Ciolli for businessinsider.com. US corporations are currently enjoying a prolonged stretch of impressive earnings growth, which has historically been the biggest driver of stock gains.The survey found that 41% of participants who own stocks think their personal economic situation has gotten better this year, while only 15% say it’s gotten worse.It’s important to note that, despite Trump’s attempts to take credit, the stock market hasn’t…

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News 

Don Lemon: Trump Riding The Economic Momentum Created By Obama, He Should Be Thanking Him

“Don Lemon on his CNN show Tuesday night and Wednesday night said President Trump should be thanking former President Obama for “handing” him a really good economy” reports realclearpolitics.com. He said on Tuesday that he doesn’t think “people are stupid” and “realize” that Trump is “riding the momentum” of an economy Obama created. Source: realclearpolitics.com Share This:

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News 

Murphy swipes at Christie with ‘honest’ budget vow

“A spokesman for the Treasury Department, Willem Rijksen, said Murphy’s statements about Christie’s handling of the state budget are “uninformed.”” writes Nj Advance Media for nj.com. Muoio, a Democratic assemblywoman from Mercer County, is an attorney who helms the county’s economic development agency and sits on the Assembly’s budget, economic development and judiciary committees.The treasurer’s most visible role is in crafting the state budget, which is introduced each year in February and adopted in June, but the treasurer oversees state investments, pensions and benefits, state debts and the lottery.Labor leaders and fellow…

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Crypto News 

Venezuela seeing bitcoin boom amid economic crisis

“Venezuelans with bitcoin can sell their digital currency on one of a half-dozen virtual exchanges filled with compatriots looking to buy bitcoin” reports foxbusiness.com. The digital currency debuted on a major U.S. exchange with its first futures contract Sunday.The early Venezuelan bitcoin adopters consisted largely of engineers and business leaders, but these days Useche said he is surprised by the number of poor, elderly Venezuelan making small bitcoin purchases.The shift toward cryptocurrencies in Venezuela is taking place as the price of bitcoin has climbed to a peak of more than…

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