Category

Politics

Washington

The "Warfare State" Has Consumed the Middle Class

By , Special Contributor, Money Morning - • Print | Email

The United States spends roughly $800 billion a year on defense; the People's Republic of China, about $146 billion. The Russian Federation lays out around $55 billion, annualized, while the Islamic Republic of Iran's military spend annualizes at $15 billion – not accounting for the crippling 13%-plus inflation it's experiencing.

Finding reliable figures for military expenditures of Syria, Yemen, Afghanistan, or the tattered remnants of al-Qaeda and ISIS would be a waste of time.

It's enough to say that not a single one of these state and non-state actors can reasonably be expected to show up on our shores, "D-Day style," at any point in the near future. And if you expect any of these adversaries might come ashore, cannons blazing, in Cleveland, or San Francisco, or Austin, or Bismarck, N.D., then I respectfully submit you may be watching a little too much cable news.

And in the slightly more likely event that one of these foes were to, say, set off a dirty bomb in any of these places, it's doubtful an extra aircraft carrier would prevent it.

And yet, if the manifestly stupid, hopelessly censored mainstream media – run by just five conglomerates – were to be believed, hordes of jihadist enemies are closing in from all sides, moments away from striking.

Then again, this pale shadow of a legitimate Fourth Estate has also – just as dangerously – confused an East Coast stock bubble for real, widespread prosperity and strength.

No, folks, the real danger to American security and prosperity - what's left of it, at least - is safely ensconced, thriving in its ultimate evil, right here...

Washington

Jeff Sessions Is Gone, and Pot Stocks Are Soaring

By , Director of Cannabis Investing Research, Money Morning - • Print | Email

We knew Nov. 7 was going to be a historic day for the cannabis sector – we've been saying as much in the lead-up to the midterms. 

But as we've also seen, the marijuana industry moves at hyper speed. And the real post-election story was virtually impossible to predict, at least in terms of timing.

By midday Wednesday, the markets had woken up to the fact that voters in one of the most populous states, Michigan, and one of the most conservative states, Utah, had opened the door to legal marijuana in some form or another, and stocks spent a couple of hours gaining in value.

But then… it happened.

The No. 1 opponent of legal cannabis in the United States lost every ounce of his power to hold back the fastest-growing industry on the planet. Investors need to know just how important this is to the growth of cannabis as a business in the United States.

This is huge...

stocks

Why the Next Financial Crisis Might Start in Italy

By , Money Morning - • Print | Email

On Tuesday (Oct. 23), the European Commission rejected a draft of the Italian government's 2019 budget, rattling markets and setting investors on edge.

Following the report, the Dow Jones Industrial Average fell as much as 442 points, adding to October's severe losses.

With losses mounting, there are clear signs that's Italy's debt crisis could ignite the next financial crisis.

stocks

Why Tariffs Meant to Protect American Companies Are Backfiring

By , Money Morning - • Print | Email

When the White House introduced its first wave of tariff policies in January, American manufacturers like Whirlpool Corp. expected these competitive trade policies to put them ahead of the game.

Following the White House's statement, Whirlpool announced it was hiring 200 full-time workers in Ohio in anticipation of increased product demand.

However, it looks like Whirlpool spoke too soon, burning both its bottom line - and its shareholders...