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Dissecting House Speaker Ryan’s remarks on deficits and spending

“In 1968, when tax revenue was 17 percent of GDP, mandatory spending was 6.4 percent; in 1978 and 1988, tax revenue was about 17.5 percent and mandatory spending was about 9.6 percent” reports washingtonpost.com. So the practical effect is that the $1 trillion deficit moved up two years.Here, Ryan says that tax revenue will continue to rise despite the tax cuts. Source: washingtonpost.com Share This:

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Dissecting Paul Ryan’s remarks on deficits and spending

“In 1968, when tax revenue was 17 percent of GDP, mandatory spending was 6.4 percent; in 1978 and 1988, tax revenue was about 17.5 percent and mandatory spending was about 9.6 percent” reports washingtonpost.com. So the practical effect is that the $1 trillion deficit moved up two years.Here, Ryan says that tax revenue will continue to rise despite the tax cuts. Source: washingtonpost.com Share This:

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China posts strong first-quarter growth, hearty consumer demand buffers trade worries for now

“January-March fixed-asset investment growth slowed to 7.5 percent, below expectations and 7.9 percent in January-February” writes Midwest Communications Inc for 95kqds.com. For graphic on trends in China’s economic indicators click http://fingfx.thomsonreuters.com/gfx/rngs/CHINA-ECONOMY/010031D432Z/index.html. BEIJING (Reuters) – China’s economy grew at a slightly faster-than-expected pace of 6.8 percent in the first quarter, buoyed by strong consumer demand, healthy exports and robust property investment.Fixed-asset investment has also faltered as Beijing urges local governments to refrain from rampant borrowing to finance glamor projects to beat economic growth targets.First-quarter gross domestic product (GDP) growth was also…

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We are ‘well hedged’ for potential trade war, says leading global agri-business

“If a trade war breaks out, it would have major consequences for global GDP growth, but Olam’s business model has placed the company in a stable position, the CEO of the global agri-business told CNBC. “I think there will be serious implications because it reduces the contestability of global trade, and global trade is a leading indicator to global GDP growth,” Sunny Verghese, the CEO of Olam International told “Squawk Box,” on Tuesday” writes Andrew Wong for cnbc.com. Reducing contestability — the openness of a marketplace to new entrants —…

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US states that would get hit the hardest by a trade war

“On the flipside, here are the states or districts with less to lose in the event of a trade war” writes Visual Capitalist for businessinsider.com. Here are the 10 states most reliant on international trade: On a percentage basis, Michigan tops the list with 38.9% of the state’s GDP reliant on international trade.However, with talk of a trade war heating up, there is a real possibility that the global trade landscape could shift dramatically over the coming months and years.AP/Carlos Osorio Last year, nearly $4 trillion of U.S. economic productivity…

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Markets News Stocks 

Tech stocks are influencing the market in more ways than you think

“As you can see, the FAANG stocks outperformed other stock benchmarks as well as gold, oil, and bonds” writes John Mauldin for businessinsider.com. The FAANG stocks, if you aren’t hip to the lingo, consist of Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Google (GOOGL).Whenever it happens, the next downturn will be something new: the first socially networked recession and bear market.Apple is the world’s most valuable company by market capitalization, with Amazon and Google not far behind. Source: businessinsider.com Share This:

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Economic growth projected to slip well below 3 percent this quarter

“GDP growth rates bounce around significantly from quarter to quarter, and the Trump administration has said that its goal is sustained growth above 3 percent over the long run, not a big number in any one quarter” reports washingtonexaminer.com. Economic growth finished within a respectable distance of President Trump’s 3 percent target to end 2017, with gross domestic product growth at 2.9 percent.Staff for the Federal Reserve Bank of New York estimated Friday that first-quarter GDP growth will clock in at a 2.7 percent annual rate.The Atlanta Fed estimates in…

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Britain remains the slowest growing major economy on earth

“The data means that the UK remains at the bottom of the G7 growth tables, making it the slowest growing major economy in the world in 2017” writes Will Martin for businessinsider.com. Services, the dominant sector of the UK economy, accounted for the majority of growth over the data period. The last time UK GDP shrunk over a quarter was in Q4 of 2012 when the economy readjusted following a huge boost from the 2012 Olympic Games in London.Britain’s Gross Domestic Product (GDP) grew 0.4% in the quarter, according to…

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Futures News Stocks 

Techs set to drive losses for U.S. stocks again; GDP awaits

“Tech stocks were the high-fliers of 2017, and the Nasdaq remains up 1.5% this year, against losses for both the Dow and S&P 500” writes Markets Reporter for marketwatch.com. Dow Jones Industrial Average futures YMM8, -0.19%  fell 82 points, or 0.3%, to 23,774, while S&P 500 futures ESM8, -0.23%  dropped 11.2 points, or 0.4%, to 2,604.50.The Nasdaq Composite Index COMP, -2.93% tumbled 211.74 points, or 2.9%, to 7,008.81, while the Dow Jones Industrial Average DJIA, -1.43% dropped 1.4% and the S&P 500 index SPX, -1.73% fell 1.7%.Bond yields move inversely…

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