Trump To OPEC ‘Allies’: “Reduce Oil Prices Now” Or Lose US Defense Shield

https://www.zerohedge.com/sites/default/files/inline-images/average%20gasoline%20price.jpg

 

Update: For the umpteenth time this year, President Trump has lashed out at OPEC over soaring oil prices (and therefore gas prices): “The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher.”

Then Trump escalated his rhetoric, appearing to threaten the withdrawal of support unless action is taken “…the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW! “

This is coming after reports that Trump asked the Saudis to increase production by 2mm barrels and that they agreed.

President Trump has not been shy of expressing his views to OPEC… Continue reading

Half of American households can barely save a nickel

Please see the source link for the video.

 

Brother, can you spare a nickel?

For roughly half of American households they answer is “barely,” according to the results of a new survey by Bankrate.com. About half reported they are setting aside no more than 5 percent of their income in savings. One in five said they’re not even able to save a penny.

The highest savings rates were reported by those in the middle of the income ladder; more than a third of households earnings between $50,000 – 75,000 said they’re saving more than 10 percent of their incomes, a higher rate than those in the highest-income bracket. Continue reading

The American Middle Class Is No Longer the World’s Richest

The American middle class, long the most affluent in the world, has lost that distinction.

While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans. Continue reading

Shocking US factory orders and Chinese bank woes trigger global flight to safety

“Absolutely awful” factory figures as new orders suffer worst slump since 1980 recession

Factory orders in the US suffered their steepest fall for 33 years in January and also slowed further in China, raising fresh concerns about the strength of the world’s two biggest economies.

The shock figures set off a renewed flight to safety in New York, where yields on US 10-year Treasuries fell to a three-month low of 2.60pc. The Dow Jones index tumbled 326 points, breaking through crucial technical support levels. Continue reading