Over the years, Apple Inc. has become the poster child for U.S. multinationals accused of sheltering overseas profits to avoid the IRS. What’s gone largely unnoticed is that it’s been paid more than half a billion dollars by the U.S. government to do just that.

Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – Americans Are Paying Apple Millions to Shelter Overseas Profits

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When George W. Bush assembled his first Cabinet in 2001, news reports dubbed them a team of millionaires, and government watchdogs questioned whether they were out of touch with most Americans’ problems. Combined, that group had an inflation-adjusted net worth of about $250 million — which is roughly one-tenth the wealth of Donald Trump’s nominee for commerce secretary alone.

Read the Full Article: Source – The Washington Post
Time For Truth: (The Washington Post) – Donald Trump is assembling the richest administration in modern American history

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Last week we showed that the 10Y was on the cusp of breaking out above the most critical trendline of this decade. Well, following today’s largely illiquid surge in the dollar and selloff in the Treasury complex, briefly halted by the steller 7Y auction mid morning, the trendline has been officially broken.

Read the Full Article: Source – Zero Hedge
Time For Truth: (Zero Hedge) – The Most Important Bond Trendline Is Broken: "Now It Gets Interesting"

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Research has documented that central banks around the world have been better able to control inflation if they enjoy independence from elected officials. The election of Donald Trump seems like a good time to remind ourselves that, historically, the executive branch has presented the greatest threat to the independence of the U.S. Federal Reserve.

Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – How Trump Could Spell Trouble for the Fed

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Federal tax revenues set an all-time record of $221,692,000,000 for the month of October, according to the newly released Monthly Treasury Statement.

In constant 2016 dollars that is the most taxes the federal government has ever collected in October, which is the first month of the fiscal year.

Read the Full Article: Source – CNS News
Time For Truth: (CNS News) – $221,692,000,000: Federal Taxes Set Record for October; Still Runs Deficit of $44,192,000,000

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