Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
Wall Street Is Starting to Get Nervous About All the Money Pouring Into U.S. Stocks (Bloomberg) After President-elect Donald Trump won the election, markets began a decisive shift in essentially all asset classes. Suddenly, everything from bank stocks to emerging-market bonds staged decisive price swings, driven by a stronger dollar, an increase in U.S. growth expectations, worries over the prospect of a more protectionist Trump-led administration and a steeper U.S. yield curve. A big beneficiary of this dynamic has been U.S. equities, which have now seen nearly $70 billion in inflows since Nov. 8, according to Bank of America Merrill Lynch. Big losers have been emerging market equities and bonds, which have seen more than $10 billion in outflows.
Tangled in fraud probe, 100s face loss of disability checks (Associated Press, ABC News) Because of fraud, the Social Security Administration has cut off disability benefit payments to clients of an attorney they have charged in the matter. The problem? Not all the attorney's clients were involved in the fraud but all have had payment suspended. That means some extremely poor and severely disabled people are losing everything. The results are a bevy of homelesss people and increased numbers of suicides.
The Major Potential Impact of a Corporate Tax Overhaul (The New York Times) If a proposal to tax cash-flow is implemented there will major impacts on how businesses operate, how business finance will work and the global economy in general. Read this article toget the details.
Paul: Trump backs health repeal, replacement at same time (Associated Press, MSN News) Republican leaders in the GOP-controlled Congress are moving toward a vote on repeal legislation in coming weeks, but they anticipate a transition period of months or years to a replacement. Some Republican lawmakers are expressing reservations about scrapping the law, which now covers 20 million people, without a near-term replacement.
Draghi’s German Problem Flares as Inflation Jump Stirs Anger (Bloomberg) In a week that revealed a jump in inflation in Europe’s largest economy, commentators are lining up to urge the European Central Bank president to end his ultra-loose monetary policy. From the allegation that savers face devastation to Bild newspaper’s call to “Raise rates now!" Draghi is once again facing the wrath of Germans fretting that the guardian of price stability will let them down.
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