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Within
the span of 2 weeks, U.S. shores have been hit by 2 major hurricanes. Harvey
which hit Texas and Southwest Louisiana in late August, and Irma making its way
through the Florida coast. With the devastation left in their path, the
question now is what is the financial toll on the U.S. after 2 major disasters?
The toll for Harvey’s destruction is estimated to be anywhere between $70 and
$90 billion, with only $35 billion protected by insurance, by RMS a disaster
modeling firm. Analysts have predicted that Irma’s financial toll can reach up
to $172 billion in the U.S. alone. Countries in the Caribbean are expected to
see cost of up to $65 million from Irma alone. [more...]
Equifax, the Atlanta-based company – one of America’s
three giant credit reporting agencies – announced this September that hackers
had penetrated its computers and stole data for at least 10 weeks before being
detected on July 29. What these hackers stole, Equifax reported, were the
names, birth dates, Social Security numbers, and other data of 143 million
“customers” – nearly half the U.S. population. (“Customers” is in quotes because
you likely never asked or agreed to be an Equifax customer, and you have no
ability under current law to make them stop gathering personal financial data
about you.) This attack struck 143 million Americans (most of whom have not yet
felt it) and could put our nation underwater for years to come – perhaps even
drown our personal and national economy and prosperity. [more...]
The
Trump administration is considering withdrawing from KORUS (the South Korea-U.S.
free trade agreement). The data supports pulling out, but globalists - who
support economic growth in other countries but support only Wall Street and
Silicon Valley growth here - are freaking out. The case for pulling out of
KORUS is stronger than the case for pulling out of NAFTA. First, Korea is a
recidivist currency manipulator. It’s currency, the won, remained 14.4%
undervalued in May, making Korean goods and services cheaper than they would be
with a fairly-priced won. Mexico’s currency, in contrast, is not undervalued. Second,
America's trade performance under the KORUS agreement is the worst among all U.S.
trade deals. [more...]
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