The Energy Department has issued a second permit to export liquefied natural gas (LNG) from the United States. The license, awarded to Freeport LNG Expansion LP and FLNG Liquefaction LLC, will result in overseas shipping of 1.4 billion cubic feet of gas every day from a terminal on the Texas Gulf Coast. This is only the second such permit to export US LNG. While exports by Freeport are not likely to start before 2017,...
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Stockman, former director of the Office of Management and Budget, told Tom Keene on “Bloomberg Surveillance” yesterday that the Federal Reserve is “off the deep end with this money printing, which is dramatically distorting and deforming the financial markets.” On Glenn Hubbard, Stockman said, “He is a brilliant guy who told Bush to cut taxes in 2001, cut taxes in 2003, oh, why you are at it, go have two unfinanced wars and don’t worry...
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Jack Lew, United States Treasury Secretary spoke with FOX Business Network’s (FBN) Peter Barnes about his new role and his plans for managing the government’s finances. Jack Lew spoke about the sequester, saying, “Nobody thinks the sequester was the right solution; it was designed to be something that everyone would hate. Give it some time.” Jack Lew also discussed why the path to a grand bargain budget deal has been so complicated, saying, “Everyone knows...
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Stanley Druckenmiller, former chairman & CEO, Duquesne Capital Management; was on CNBC this morning. The famous former hedge fund manager who rarely gives interviews also appeared on Bloomberg last week, as well as CNBC in late February. Stanley Druckenmiller issued dire warnings over Medicaid, Medicare, Social Security, Fed policy and more. Druckenmiller argued that seniors were basically stealing from the youth through current entitlement programs. He says that the big increase in entitlement spending over the past decade is...
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Stanley Druckenmiller, Hedge fund titan, and Duquesne Capital Founder, explains what the Fed is doing wrong, the state of the economy and the no. 1 threat to young people’s financial futures. Geoffrey Canada, Harlem Children’s Zone CEO, weighs in. “The biggest unintended consequence of the Fed right now is Congress is not getting the market signal,” says Stanley Druckenmiller. 'Get ValueWalk's Daily Edition By Email and Never Miss Our Top Stories'
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“Davidson” submits: There have been persistent predictions that the upcoming “Sequester” will be disastrous for the US economy with some ”millions” laid-off. This I think is only if there are political decisions to target specific areas of Federal spending such that this type of disaster can be made to maximize the most negative outcome. Brian Wesbury counters this with reasoned commentary which I wanted to call to your attention. I think his views are...
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With the sequester set to provide some sanity to the debt situation, one certainly has to question how the cost reductions (reducing unnecessary spending) would impact each of the fifty states and connected political entities (assuming the sequester goes forward). Well, here are some of the numbers bond rating agencies are looking at when they evaluate municipal credit ratings of entities that are indirectly linked with the U.S. government. The first measure is how...
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Cisco CEO John Chambers spoke with FOX Business Network’s (FBN) Liz Claman about his concerns surrounding a possible sequestration and how it would affect Cisco Systems, Inc. (NASDAQ:CSCO). Chambers said, “we have categorized it as potential pause” and that “the market may get a little concerned.” Video and excerpts below: Watch the latest video at video.foxbusiness.com On how Cisco Systems, Inc. (NASDAQ:CSCO) is preparing for a possible sequestration: “Well we have modeled for it. We...
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The State of the Union (which can be viewed live streaming below) begins this evening at 9pm EST and pundits are expecting the President to focus on a mix of social and fiscal issues while continuing his Inauguration speech theme of the inaction in Congress stalling economic recovery and solutions to the nation’s large scale fiscal problems. With the sequester implementation deadline just three weeks away pundits expect a significant portion of the speech...
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President Utilizing Media to Pressure Republicans on Debt Ceiling Let me first state that I am not a Republican or a Democrat, or a Tea Party advocate; I just look at individual issues based upon their merit. The issues and the right solution is what is important to me, and not collective party ideology. But president Obama trying the same tactics of negotiation in the media to frame the debt ceiling debate as the...
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Stocks setup for fall It is ironic that stocks are at five years highs going into what is probably going to be the biggest disappointment of an earning`s season since the 2008 financial crisis. We got a hint of 4th quarter results during the disaster which was the 3rd quarter earning`s season where most companies missed on the revenue side, and those that beat EPS guidance, did so barely, and most of that was created through...
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