39 Burst results for "treasury"
Fresh update on "treasury" discussed on WBZ Afternoon News
"Need will get that money. CBS's Mari Garcia, the president says the $400 a week supplemental unemployment payment for out of work. Americans will be rapidly distributed, but no exact date has been announced. It replaces a $600 weekly benefit that Expired at the end of July. Many furloughed workers say $400 just isn't enough like this man who says the $600 at least help him make a dent in the mortgage. The bills, Democrats say the $400 is just a distraction and unemployed Americans could have used an extension on the $600 booth as the pandemic crisis continues. President Trump maintained last night that the 604 $100 benefit cut wouldn't hurt people and would instead serve is incentive to get people back to work as soon as possible. Within that $400 states are required to contribute 100 the state president's chief economic adviser, Larry Kudlow, was asked on CNN this morning. How states will come up with that money? Our estimates from the Treasury Department in terms of cares Act one. Was that the States have not spent all the money that was allocated to them and that there's you know considerable overflow that they could make use of Democratic proposals for a stimulus bill would have allocated significant funds to state and local government. Another reason Democrats are taking issue with the president, bypassing Congress and signing thes orders. W busy Suzanne Saz VEIL With reactions from the Massachusetts delegation. The executive orders provide $400 a week and unemployment assistance, 100 of that coming from states. They also provide a payroll tax holiday for Americans earning less than $100,000 a year. But Congressman Joe Kennedy says that just kicks the payments down the road. It just differs those payments. And.
'Unconstitutional slop': Pelosi slams Trump's executive actions on coronavirus relief
"He doesn't know what he's talking about. I'm ham puso. Fox News, House Speaker Nancy Pelosi says. That's the kind of thing she can say about the executive action taken by President Trump yesterday, action she calls unconstitutional. The executive orders a wide ranging, focusing on unemployment, student loan payments, payroll taxes and evictions, families at the risk of being evicted. The virus is moving like a freight train, even though the president Once has ignored and delayed and distorted. What that isthe. Treasury Secretary Steve Mnuchin was part of the White House team negotiating with the speaker. We agreed with the Democrats. We both want to send more checks to the American workers. We want to send more PPP to those hardest businesses. We've fed. Let's pass legislation on the things we agree on the speaker and the secretary, both on Fox News
Fresh update on "treasury" discussed on 10 10 WINS 24 Hour News
"I'm Mario Bosco's the White House's top economic adviser, Larry Kudlow. On. CNN today defended the Siri's of executive actions by the president to give economic relief amid the pandemic, explaining how states will be ableto work with the federal government to provide assistance to Americans impacted by the crisis also Acknowledging that some may not receive the full, enhance benefit, depending on where you live. Quote we're talking about average is here. Crunching some numbers of the states, they say, don't agree to participate and meet the financial requirements paying 25% of the asses. Muchas wonder Buck's amount. People getting benefits in those certain states will not receive any of the extra assistance. Meantime, Treasury Secretary Steve Mnuchin talking about Democrats, he says, not acting in good faith, said Let's pass legislation on the things we agree on. And knock these off one at a time, and they have refused to do that until they get their trillion dollars for the states. That's on Fox News Sunday. Meantime, House Speaker Nancy Pelosi today calling the president's executive actions on Corona virus believe, quote absurdly unconstitutional. Senate Majority Leader Chuck Schumer, reacting to the executive orders signed in the bed Minsters Golf Club yesterday, residents executive orders described in one word could be paltry in three words unworkable, weak and far too narrow. That's or maybe sees this week. Those executive orders came one day after the failed talks between the Trump administration and Democrats and Republicans over in you. Stimulus bill will keep up to date for you Keep it locked here on 10 10 wins and 10 10 wins dot com for the very latest winds news time for 31 time for traffic.
Trump signs measures to boost economic aid but could face challenges
"Has signed for executive actions to provide economic relief to those hurt by the Corona virus pandemic. NPR's Tamara Keith. Reports of president made the move in the absence of a deal with Congress to pass a new Corona virus aid package. Trump signed a memorandum to extend enhanced unemployment benefits through the end of the year. Though it was previously a $600 weekly benefit. Trump is cutting it down to 400 He's also directing the Treasury secretary to defer some payroll tax collection through the end of the year, and Trump suggested the deferred taxes may never have to be paid if he wins reelection. If I'm victorious in November 3rd, I plan to forgive these taxes and make permanent cuts. To the payroll tax. I'm going to make them all permanent. When Trump previously floated this idea, Democrats and Republicans in Congress rejected it because these taxes fund Medicare and Social Security and there are already concerns about their long term solvency. Tamara
Fresh update on "treasury" discussed on Dan Conry
"Be in effect. Treasury Secretary Steve Mnuchin said he would talk on relief for Americans and payroll protection for businesses, but they have refused to do that until they get their trillion dollars for the states. Both appeared on Fox News Sunday, Democratic leaders called the president's actions Meeker providing little really help to families. Fox's Gurnal Scott Anger continues on the streets of Beirut over what protesters view Was government inaction and corruption following last week's massive explosion that killed at least 220 people. Meanwhile, French organizers say international donors have pledged nearly $300 million in emergency aid for Lebanon. Still no arrests after more than 20 people were injured in a shooting at an apparent block party in Washington, D C early this morning. A 17 year old was killed in an off duty DC police officer's in critical condition. Police chief Peter Newsom says several people are responsible for the shooting. We have at least three shooters..
Trump signs measures to boost economic aid but could face challenges
"Snyder. President Trump has signed for executive actions to provide economic relief to those hurt by the krone. Virus pandemic. NPR's Tamara Keith. Reports of president made the move in the absence of a deal with Congress to pass a new Corona virus aid package. Trump signed a memorandum to extend enhanced unemployment benefits through the end of the year. Though it was previously a $600 weekly benefit. Trump is cutting it down to 400 He's also directing the Treasury secretary to defer some payroll tax collection through the end of the year, and Trump suggested the deferred taxes may never have to be paid if he wins reelection. If I'm victorious in November 3rd, I plan to forgive these taxes and make permanent cuts. To the payroll tax. I'm going to make them all permanent. When term previously floated this idea, Democrats and Republicans in Congress rejected it because these taxes fund Medicare and Social Security and there are already concerns about their long term
Fresh update on "treasury" discussed on KTOK Programming
"Oh, thank you for having me. I really appreciate it. Well care Thiss has been later with Leigh Matthews Leigh Matthews Podcast. Remember to listen live to the Dr weekdays from 5 to 7 News Radio 1000 NEWS Radio 1080. Okay A M and K x x Y FM, 96.18 to Oklahoma City. Stepping up their criticism. I'm Joe Jiro Fox News Democrats took to the Sunday morning talk shows to express their displeasure over the president's decision to go it alone with executive actions to provide Corona virus relief, But they say they're still willing to talk. House Speaker Nancy Pelosi says the spy President Trump's actions on payroll tax relief evictions and unemployment aid. There are still points to be discussed. It doesn't mean that we have things in there that we would Down. It means that we could talk about how long our provisions would be in effect. Treasury Secretary Steve Mnuchin said he would talk on relief for Americans and payroll protection for businesses,.
Trump signs executive orders on coronavirus economic relief
"Trump goes around Congressional Democrats and signs executive orders to provide financial support for Americans out of work. We get more from CBS News for executive action signed by Mr Trump this afternoon aimed at delivering relief to those struggling with the economic fallout of the pandemic, he explained the first order providing a payroll tax holiday. You Americans earning less than $100,000 per year in a few moments that was signed. A directive instructing the Treasury Department to allow employers to defer
Trump says he'll extend unemployment benefits
"There had been glimmers of hope, following marathon meetings between top Democrats and the White House. But in the end common ground couldn't be found on a new Corona virus relief package. We're not going to just Keep on coming back every day. If we can't get to a deal, Treasury Secretary Steve Mnuchin, Democrats say, and offer that curb their demands by a trillion dollars was rejected by the administration. We have always said That the Republicans and the president do not understand the gravity of the situation, and every time we meet with them, it is reinforced House Speaker Nancy Pelosi. The next move could be unilateral action by President Trump. If Democrats continue to hold this critical relief hostage, I will act under my authority as president to get Americans the relief they need, including deferring the payroll tax dating back to July 1st, extending enhanced unemployment benefits, deferring student loan payments and forgiving interest until further notice. Along with extending the federal eviction moratorium, Fox says Leland Vitter, the president, acknowledging the White House would likely be
Trump Administration Imposes Deadline For TikTok To Be Sold
"Tensions with China rising once again as president trump puts a clock on Tiktok I the president said, the popular social media APP would cease operating in the US September fifteenth unless an American company acquired talk with the Treasury getting a cut of the deal the United States could should get very large percentage of that price because we're making it possible without us i. use the expression it's like the landlord and the tenant and without the lease. The tenant doesn't have the value. Well, we're sort of in a certain way, the lease it's unclear exactly how that would work by Friday president trump signed an executive order giving the Chinese companies that own Tiktok and we chat forty-five days to sell to an American company citing privacy
U.S. Sanctions Chinese Officials Over Hong Kong Policy---Including Carrie Lam
"The Trump administration is imposing sanctions on 11 Chinese officials, accusing them of undermining Hong Kong's authority. NPR's Michelle Kellman reports among those on the blacklist, Hong Kong's chief executive Treasury Department singles out chief Executive Carrie Lam for implementing what it calls Beijing's policies of suppression in Hong Kong last year, her pushed to update the territories extradition arrangements with mainland China set off a Siri's of demonstrations. In a new blow to pro democracy activists. Lam recently postponed elections to Hong Kong's legislature. The U. S. Condemned that move as another sign of China, undermining the territories. Autonomy. Americans air now prohibited from doing any business with lamb or the 10 others, mostly security officials who are on the blacklist. Any property they might have in the U. S. Will be
US sanctions Hong Kong chief executive Carrie Lam over democratic crackdowns
"Role in crackdowns on political freedom in the region, US Treasury blaming lamb for implementing Beijing's policies of suppression of freedom and democratic processes. This includes pushing for that update to Hong Kong's extradition arrangements to allow for extradition to the mainland. As a result of the sanctions, Treasury says old property and interests in property of the individuals that they named which includes 10 people in all, and any of the entities that are owned directly or indirectly, 50% or or more. more. With With that that are are in in the the United United States States or or in in possession possession of, of, or or control control of of US US persons persons are are now now blocked blocked and and must must be be reported reported so so far. far. No comment from lamb. 79 degrees. Now cloudy skies, the humidity 64%. The
US sanctions Hong Kong chief executive Carrie Lam over democratic crackdowns
"And Gerald Ford. The U. S is sanctioning 11 individuals, including Hong Kong's chief executive, Carrie Lam, for undermining Hong Kong's autonomy and restricting the Citizen's right to assemble, the Treasury Department said in a statement. Carrie Lam is directly responsible for implementing Beijing's policies of suppression of freedom and
US sanctions pro-China leader of Hong Kong, other officials
"US is imposing sanctions on pro China officials in Hong Kong, including the leader of the government. For their alleged roles in squashing freedom in the former British colony. The Treasury Department announcing sanctions today on Carrie Lam, the leader of the pro Beijing government and other officials. Sanctions, the latest in a string of actions of the Trump administration is taking against China as tensions between the two nations rise over trade disputes and the Corona virus. Beijing imposed a sweeping national security law in Hong Kong earlier this year. Raising widespread concerns about the Chinese government cracking down on those anti government protests
Trump signs executive order banning TikTok
"Trump threaten the band tiktok, Microsoft stepped in to possibly by TIKTOK. There are other people that are sniffing around the deal trump said that if there was a sale of Dot, the Treasury Aka, the US government, AK trump had to get a large piece of that because apparently he thinks the world mafia movie. Then facebook dropped reels are E. L. S., is that right? I think, yes. Right. which is a tick tock clone all over the world,
Congress Fails To Reach Agreement On New COVID-19 Relief Bill
"New economic stimulus bill in Congress remains stalled congressional leaders met with White House negotiators for over three hours last night, and this is how Treasury Secretary Steven Mnuchin described it. I think there is a lot of issues we are close to a compromise position on but I think there's a handful of very big issues that we are still very far apart.
COVID relief package stalls in Congress
"Deal as congressional Democrats and White House negotiators grapple with what to include in a new pandemic relief package, Senate Minority Leader Chuck Schumer told reporters Thursday night the Republicans appeared ready to give up were very I'm disappointed in the meeting. Um But we urge our Republican colleagues to come back and continue to negotiate. White House Chief of staff Mark Meadows said. President Trump is ready to go it alone and issue what executive orders he can. We still don't have a deal. And his willingness to take action through his executive powers should be applauded. Treasury Secretary Steven Mnuchin said. The two sides are far apart on the big issues. Mike Grazia. Washington Still
Negotiations in Washington fail to produce a pandemic relief deal
"I might cross your reporting there's no deal in negotiations on a new pandemic relief package still no deal as congressional Democrats and White House negotiators grappled with what to include in a new pandemic relief package Senate minority leader Chuck Schumer told reporters Thursday night the Republicans appeared ready to give up were very disappointed in the meeting but we urge our Republican colleagues to come back and continue to negotiate White House chief of staff mark meadows said president trump is ready to go it alone and issue what executive orders he can't we still don't have a deal and his willingness to take action through his executive powers should be applauded treasury secretary Steven Mnuchin said the two sides are far apart on the big issues might cross yep Washington
Negotiations in Washington fail to produce a pandemic relief deal
"I might cross your reporting no deal seems imminent as lawmakers and the White House discuss pandemic relief frustration was evident from both sides after three hours of negotiations on Capitol Hill failed to produce a breakthrough pandemic relief package Thursday treasury secretary Steven Mnuchin there's a handful of very big issues that we're still very far apart house speaker Nancy Pelosi said Republicans want a trim package when they said a skinny proposal it was anorexic and it was not to meet the needs of the American people the White House says president trump is prepared to use executive orders to address some elements of the congressional package involving evictions and the jobless benefits Mike Rossi up Washington
Coins and Cash: Shortages, Hoardings, and Threats
"Walking money for the rest of us. This is a personal finance show on money how it works how to invest it, and how to live without worrying about it. I'm your host David Stein today's episode three, Zero Eight. It's titled Cash Coins. shortages. Forty and threats. Weeks ago, my daughter and I were at a bakery buying a couple of loaves of bread. We didn't have the exact change and they didn't have the coins to make chain. So they rounded down, we got a small discount. This week I was going through the McDonald's drive through, and there was a sign that said due to treasury shortage of coins, use credit or debit cards. Round up to the nearest dollar, donate the different to Ronald McDonald house charities or use exact change on cash transactions. There is a coin shortage in the US right now. Federal Reserve Chair Jerome Powell told Congress last month. What happened is that with the partial closure of the economy, the flow of coins through the economy, it has gotten all. It's kind of stopped. We've been aware of it. We're working with the meant to increase supply while working with the reserve banks to get this apply to where it needs to be. The Agency of the US Treasury responsible for minting coins is the US. Meant it was established in seventeen ninety two by Congress when it passed the coinage Jack and it chose Philadelphia as the site of the I meant. Now, the US mint operates production facilities in Philadelphia, San, Francisco Denver, and West Point. Every two years, Congress requires US Treasury to give a report on the US mint its budget and its cost to produce its coins. In twenty twenty, the US meant projected that it would produce fourteen billion circulating coins. Including eight and a half billion pennies. One point, three, billion Nichols two point, four, billion times. One Point, eight, billion quarters. Now. Due to the coronavirus pandemic, the US mint cut back production of circulating coins in March and April. Year to date through July, they had produced eight point, two, billion coins. They said, they were back up to full capacity by mid. June anticipate producing one point six, five, billion coins per month. That would equate eighteen point, one, billion coins. But here's the thing about circulating coins in the US and other countries. The meant only contributes a relatively small percentage of the new circulating coins each year twenty, nineteen, it was seventeen percent. New. Coins. Going into the supply chain? The remainder came from third party coin processors are recyclers as individuals by things they get back and there are machines where you can put your spare change and it will sort it and this recirculating process. Make sure there is a sufficient supply of coins that has broken down. A couple of weeks ago, meant issued a bulletin, which said, we ask that the American. Public start spending their coins, depositing them or exchanging them for currency at financial institutions or taking them to a coin reduction kiosk. The coin supply problem can be solved with each of us doing our part. This isn't the first time that there has been a coin shortage. There was one in the early nineteen sixties in the US.
Progress slow as urgency grows on virus relief legislation
"Saw potential step forward in the congressional negotiations for another corona virus relief package after weeks of Resistance Senate. Majority leader Mitch McConnell said he will support an extension of the now lapsed six hundred dollar federal unemployment insurance relief every week that is if president trump backs it. The American people in the end need help. And wherever this thing settled. Between the President United States and his team, it have to sign it into law. And the Democrat. Not Significant minority in the Senate and majority in the House. Is something I'm prepared to support even if I have some problems. With. Certain parts of it. So, Jake Sherman, you cover Mitch McConnell you know him very well that's as close as you'll get to seeing. Mitch. McConnell concede there where he effectively said, okay, I know this bill's been sitting on my desk for three months. I've got some problems with the Democrat bill from the house, but I may be willing to budge on that six hundred dollar weekly payment. The original counteroffer from Republicans as you know had been two hundred dollars a week. So if he concedes on that point, get six, hundred dollars a week of unemployment benefits to people who need it. So desperately right now does that mean we're going to get deal here. Will I think Willie? We're going to get a deal at some point in the next week. It looks not promising, but it looks possible. Here's the catch Mitch McConnell's not a part of these negotiations right now also for the first time in a long time, we could kind of say that Mitch McConnell's view here is a little bit tangential to the overall negotiations. Now Mark Meadows and Steven Mnuchin who have been in the negotiations have offered four hundred dollars a week until December fifteenth, which also by the way is a very big concession for the GOP people. We actually in playbook this morning give a blow by blow full with good chock full of quotes from inside of the negotiating room. During a two and a half hour meeting yesterday in the capital illustrating that there are a lot of issues that remain open to get corona virus for leads to American people just to give a sense about how far we kind of our from virus package, they are bringing in the postmaster general today to talk to the negotiating team about the needs of the US Postal Service because there is such a divide on how much the post office might need to complete its operations. So again, these negotiations are very fraught they're complicated and they're dragging on almost two weeks in I. Think we'll have another week at least before this bill is passing both sides want to get a deal before Friday. Jonathan Does Jake says Mitch McConnell's not involved particularly here. Specifically, neither is the President United States. He's taken a hands off approach to the entire negotiation sending US chief of staff. Mark Meadows and Treasury Secretary Steve Mnuchin into do the negotiating here. How badly does the White House needed deal? Does the president recognized that more than thirty million people just lost that six hundred dollar week check that's allowing them to survive for the last several months urgency from the White House on this. There is really the president in the last twenty, four hours or so has insisted he is playing a role in these negotiations, but we know that is largely not the case that he has need. Deferred it to his chief of staff and Treasury Secretary and Jake don't certainly don't extra job outlining how these negotiations have gone. But yes, there was a keen awareness that this is a president who's facing voters in under three months and that Americans are hurting right now and then beyond just wanting to have a helping hand to those who have suffered so much during this pandemic of course, there's an towards his reelection chances here, and if unemployment numbers can you to go with the economic slowdown, economic recovery slows down that only hurts his chances. They are trying to push here. The they understand that they're in a bad spot have not gone well, the each day that it drags on is a bad day for this president who again is trying. So desperately to pointed idea of a recovery economic recovery as opposed to how he has handled her barracks better said handled the coronavirus pandemic to this point.
Why does Donald Trump want to ban TikTok?
"For those who are blissfully unaware late last week, us? President Donald Trump announced that he would ban Tiktok and furthermore he said he would block Microsoft from taking over the APP which was apparently a deal that was in the works Then he's back flipped and given Microsoft, forty five days to complete the transaction and he's, but now he signed that the US Treasury should get a copy of the deal which seems weird in a country, which is terrified of socialism so like That's a basic recap, but there's so many little weird bonkers nuances to this Britain I actually bret benefit and I actually read about published on risky Biz in the Linke's quakes showing. But look, let's let's get the conversation going now and we'll start with you, alex, know they're probably some national security ramifications or concerns around APPs lactic TIKTOK. But why do we get the impression? That's not what's driving this whole thing? Well, you make it then. Prussian, because the president of the United States continues to change his justification of what he's doing is making a national data protection law up on the fly on twitter. and. So you know it's it's quite possible that watching what's going on that. You'd reasonably conclude that this isn't a well-considered change in policy, but perhaps part of the ongoing trade war and yell perhaps a mix of trump's anger at what would normally be protected speech against him on Tiktok and partially to distract from the fact that at the same day that he made that announcement, it was announced that the United States economy shrunk by nine percent in just one quarter. And so you know all those things together. Is really polluting this process now that being said I, think there are some interesting risks here in there is something we have to talk about about Chinese APPS and the data of Democracies sitting servers available to the PR. But if you're going to do that for my perspective Tiktok is probably not even the top five or top ten companies. I'd be concerned about there's a lot of Chinese companies that are much more critical inner city and much more important data than they are. This seems. To be completely driven by trump and not by some kind of process and either the White House or or the agencies were, there can rationally considering these things. Now look you and I, we have access to gripe bonds that most people don't actually have access to. A wonderful part of the job. I mean, my gripe tells me that this is not going through the usual processes. I mean the US investigation into Tiktok did start last year. Right? This is a legit sign. Lee Rooted investigation, but it's the escalation since like last week, that is just the just the mad pot, and as you say I mean why the hell out we talking about we chat and that's that's a curly a one to a strategy. I know that there are politicians here. Who Use we chat as a way to communicate with Chinese Australians, for example, right? So that whole thing is a can of worms and I think blocking chat in. A, lot of places around the world is going to be a real loser, right? So that's maybe one reason people don't WanNa. Touch it. But yeah, this is a very complicated. Nuanced issue that has just been. The whole thing strange. Isn't it? It is so syphilis. The law that we're talking about here is was really built to protect kind of the American industrial base around defense. Rightly, you have an important helicopter manufacturer and you don't WanNa get bought by Iran. That's what cities is for. It has never been used as a back door for data protection framework right here. In the United States, we do not have data protection framework. There is no law that says you cannot ship social security numbers of Americans to a Chinese company. Nothing prevents that in theory now, obviously, we have A. Rules that have been created through FTC decisions and such. But overall, we don't have a framework for deciding what is really important Pi and work in it set up, and so to create that out of whole cloth, using a stiffest interpretation is really probably the worst way to handle what is eight really really complicated problem, and like you said, there's other companies put away the top and I think for my perspective, we chat the top Vermont for me. Right is used by the entire chinese-speaking Gaspara. Anybody who has any in China uses it, and that includes people in Singapore people in Hong Kong people in Taiwan. So lots of these places where Chinese intelligence is really interesting. What's going? We chat has become. Part of People's daily lives, and unlike tiktok, it carries very sensitive data. Right? People run their companies. All we chat, they have their personal communications reach at the. They probably arrange affairs and do things that are very black maleable on we chat and there evidence from Citizen Lab, and some other folks who have done worth that demonstrate that you can kind of get side channel information out of we chat that demonstrates that they are watching and they are doing at least scanning of certain phrases, even communications that go. I. Mean I m point, I. think that's well known and well established that we chat is certainly used by the EPA to do surveillance, right? Like that is the reason. So successful in the reason that they can block other communications, funnel people through it, but this brings us to an important question. There are some concerns that say censorship on TIKTOK. For example, there was a case where they would deleting videos that referred to. Human Rights abuses occurring in Xinjiang in in China, right, and that turned into a into massive Khufu four. Good reason. Don't get me wrong Let's not pretend for a second, the PSE or a bunch of fluffy. Fluffy pandas. Okay. That is that is certainly not the case. But let's, be real. Trees names for them. But let's look. Let's be be real here. Right? Like the hottest security angle to this, right? It's it's. It's hard to make a case that it's. It's a terribly dangerous APP now when the United States blocked the sale of grinder. To to an offshore concern I, mean I think that was another Chinese company that wanted to buy that. Absolutely. Anyway, near when they wanted to buy a company that track Global Hotel reservations again, that it's type of information is incredibly valuable to US intelligence in two, thousand, six, the US government's blocked checkpoint, which is an Israeli from blind buying sauce fly because source for. Through. SNORT had deep in US government networks. The right in all of these situations where this has happened before you can point to a single reason and you can say this is why. Absent here,
"treasury" Discussed on 550 KFYI
"The treasury department announced that they they expect most Americans who are eligible for stimulus checks under the cares add to to receive pay by the end of this month several categories of people however will not be getting payment under the corona virus relief package while I thought every American was getting the money you know that was too good to be true right let me see here anyone claimed by someone as a dependent no money for you a person listed as a dependent on someone else's tax is not eligible for their own stimulus check this includes both children and disabled or elderly adults whose own children maybe claim them as dependents you don't get any money while the cure's act allows parents to collect five hundred dollars for each child that only applies to children sixteen years old or younger that means that dependents who are seventeen years older do not qualify even if they're still in school and if they do not file their own taxes they cannot get their own check he cares that gold said that non resident aliens are not eligible for for checks but we have the Democrats trying to change that lickety split well no so far I'm cut out my kids are grown even though I got one in college you wonder you know that there's still come as dependents because he was just getting ready to get off the it on his own but here he is knoll cash now hi your income individuals you get Jack to the theme of the checks are based on amounts of twelve hundred dollars for individuals and twenty four hundred dollars for joint filers but they decrease for those whose adjusted gross incomes of past certain thresholds certain thresholds for individual filers that mark is seventy five thousand dollars for joint filers that's a hundred and fifty thousand dollars so if you make more than a hundred if you when your wife may more than a hundred and fifty K. no check for yeah no stimulus oh my goodness they see there's some other folks here were kind of kind of getting frozen out of the holes dhimmis packages well but this is a different the treasury department are still saying they expect for for most Americans or the Americans that are eligible to be getting their checks in the next two weeks they said that they will mail notices a payment to everyone within fifteen days of their payments being sent so not only are you gonna get that check in the mail or get a direct deposit but you also have the federal government saying that they're going to make sure that they give you a notice that the cash is going out as well well that's great that's great once again I I've made as I'm Ross I'm too rich in my kids are too low some frozen out man I'm frozen out I can't get stimulated by the by the federal government in this time of panned Dimmick so you've reached the point where you're good I I I wouldn't say that yeah of course I'm good but I'm an American I guess I'm an American I'm still working right even though I'm still single if you make over the threshold then you're not eligible for it so I would take that money and go right down to my favorite restaurant and spend it W. that would be kind of boosts the economy will I'll why do rich people I'm not saying I'm rich but I am wire which people not getting paid why are we we we had the government mess with our lives to I'm going to get pay I was a bit of money or at least talking about before this is what upsets me or I would take the payment in form of a tax holiday I'm still L. advocating for the tax holiday and the suspension of the employment tax this is something that can I just I just got to get him keep I gotta get hanky bout this and I'm not against folks get money directly that I think that's much better they give it to the state government's whatever happened then dispense it and but I I love the fact that it's come a right to yeah but should know when they first proposed it is far this being big and bold that it was going to get clipped back all Mnuchin well of course we're not going to give in this body to millionaires well why not that's my question why not they'll spend it they will spend debt we're talking a bit more about the stimulus checks but not just the stimulus checks what the Democrats how the Democrats want to spend the money in this time of crisis now one of the things that we have learned we could do that it did at seven forty eight when it things we've learned is that we need to be prepared we were just talking about that if this ever comes around again a some type of government shut down some type of stay in place order we want to make sure that things are in place and that's why you need to talk to my friends at sunny energy sunny energy has helped thousands of homeowners protect themselves by making their own energy and storing it so if the group fails for any reason that families are protected you could check out my my video on five fifty K. up why is.
"treasury" Discussed on SuperTalk WTN 99.7
"They had a treasury auction this week treasury auction Mr here fine low hills a couple things I thought were interesting about this we'll spend a lot of time on it but it just does Ameritech a couple minutes U. S. treasury department sold thirty year bonds at a record low yield on Thursday highlighting investors demand for longer term debt hello this last part and its benefits to the government it is the government allows it yeah we get as free money our low cost money anyway thirty can you can you imagine lending the federal government money and knowing you weren't going to get more than a two percent return on that's it thirty years and one day a long ago there was a three percent now said two percent treasury sold nineteen billion dollars for the V. thirty year bonds Thursday afternoon two point zero six percent return now how many years have we been hearing that all interest rates are going up how many mortgage commercials did your interest rates going up you better hurry interest rates are going up yeah that's been going on for a long time now this is you don't want a particular group of five investment managers is got to be really tough on into it he's I got insurance companies insurance companies got to be fit to be tied they have got to be fit to be tied because a lot of the pricing of their product lines are based on that not just in New ides for life insurance you know you've got to PNC products property and casualty products you've got other types of insurance products are based on interest rates and the insurance companies have got to put the reserve someplace in other words money that they don't need right now they have to put it someplace and they basically have to put it in something that's guaranteed which would be government bonds and it's gotta be hard an insurance company to market high returns with a straight face and with no risk when you have the lowest risk investments paying two percent that's just got to be hard I mean you got to be pretty good to be able to to market that kind of stuff with a straight face now this is the fear of the corona virus will slow global growth has helped push down treasury yields in recent weeks so that's part of the reason L. so in essence when you're looking at a purse are possible perception that in the future growth rates are going to be lower which is interest rates and inflation rates are very very tidy each other historically you know as as long as we've had inflation anyway add inflation forever you know that's more of a recent phenomenon recent as it is in the last hundred years there was no such thing as inflation prior that right now we have inflation and interest rates are very very much tied to that now investors have also grown more comfortable the article says buying thirty year bonds because they view them as insurance against losses in riskier assets now here's the problem with that is you have just shifted the type of risk that you're taking your dealing with interest rate risk now if interest rates do go up bond prices go down and you can have this back and forth but you know even though we've been talking about interest rates going up for quite awhile now and they haven't really gone up they've come back down but there have been some pretty bad shocks if you look back at the last several years if we look at like two thousand fourteen for example we went long term government bonds went down five percent and then and then you had to five percent between two between two thousand sixteen and two thousand seventeen there was an over five percent downturn then you an eight percent downturn in these bonds in the year two thousand in an eight percent downturn in these bonds in nineteen ninety five so these things are not without risk just because they were talked about as being low risk investments because of this interest rate you can have pretty significant declines in the value now secretary Steve Mnuchin last September I he's he's basically saying that we are considering this is what they're talking about issuing a fifty year bond I mean you think about it from the government's perspective that would be really smart if investors are sitting there going man I wanna put my money away for thirty years at two percent all of your money as long as we can it also that we have this guarantee you know this this big shot in the arm and endorphin kick of really low interest rates for as long as we can get it if the government and you know incidentally I've talked about this before but you think about a widely seen why does the government really have this thing about annuities lately with the most recent legislation with retirement bills and putting into it is a retirement plans to get lots of access to lots of really really low interest money yeah so what happens is the the the she have been denoted companies that have to buy these bonds so if people will buy these products there's lots of money flowing into them there's lots of money you got lots of supply with what demand you know there's there's demand at the government level but the if the demand has increased the cost of money goes down hence low interest rates so as much as the government would like to push for people to buy these products you got to remember that there is a reason that they want you to buy these products and it is a very self serving reason really helps them out quite a bit with low access to low cost money that's the whole idea and you know those of course with some of the other news this week the other thing out there right now is the dollar surprise surge challenges the stock markets rally I thought this is interesting as well from the Wall Street journal investors worried about the impact of the corona virus again it's a big thing in the news right lately right it's it's just fascinating how the news keeps coming out that it's worse and worse every time because all of a sudden now the Chinese government's kind of start and then they throw some leaders out in all its past couple of days it's been very interesting some of the political news coming out of China but the corona virus in the world economy might soon have to confront another challenging corporate profits the strengthening dollar well it you know because this is the thing that were preaching here on the show is don't get overly complacent with where is the market that are done well recently and I say overly complacent because as I was doing at the speech in Austin this week I was telling people Hey look guys we were doing some research on this sixty percent six zero sixty percent of money right now if you look at mutual funds sixty percent of money is sitting in funds that are investing a large blend and large growth U. S. stocks one area the market represented by the Dow and the S. and P. five hundred and the nasdaq you look at the angle wait a minute that's crazy sauce that's a lot of money sitting in one area the market and that could come crumbling down just when you least expect it because all of these things in and even trump's going strong dollar you got a strong dollar we can explore stuff and that's exactly what he's getting he's getting what he doesn't want well you know what actions might he take to actually offset that who owns what actions we the government take because a stronger dollar makes it more expensive for companies bring home foreign sales and you know with it is interesting how can I effective for markets you know memory can even affect emerging markets because you know emerging markets have debt that they've gotten they've got to pay it back in dollar denominated debts and and you got it it is seen in its intensely complicated is basically what I'm saying how markets work together you can't predict this stuff there are too many moving parts and hence in investor that things are gonna figured out is walking on some really thin ice his expectations are out of alignment yeah I cannot figure it out no it's like say the guy that I was talking to after the speech that had the apple stock and and all I could think of is you have no I don't have a lot of times talk to us like you have no idea how little you really know about that company and I'm not I I like I like apple I there's a lot of stuff I like that they did they put together but they're they're getting some serious competition from other places all over all over the place and you could have a leadership change you could have you know all of a sudden you know some of these companies could grief their competitions coming out with a folding screen that you know of when when all of a sudden do you have as graphene you know that what I've talked about on the show before becomes mainstream I don't know when it's gonna become mainstream if you don't know what that is I've talked about before we have this graphene you can literally take like a it's like a piece of paper and folded up into his little tiny piece of paper and then unfold it's a screen I mean that's you know some of the technology that could be coming to a store near you well you know if it's another competitor that actually comes out with a viable it's a Samsung has that for you know folding screen right now that seems to be catching some catching some interest of it of people that are buying phones but you know you just don't know and that's just one thing demand for product there's so many other things out there you know could be technology that act actually trumps the existing technology in terms of speed and well all of a sudden now we're off to the races and a totally different company comes out with something that's better you know we we as you know it was it wasn't Kodak the inventor of the digital camera that actually benefited the most from the digital camera well apple actually stole the mouse from Xerox shares Eric's created the malice so just didn't know what to do with it yeah yeah look at look at the whole windows last form yeah exactly there's that's all that's a foot a fascinating story about how that all came about it wasn't the inventor of the cell phone that benefited most from the cell phone in my I mean how many of you running around with a motorist cell phone Microsoft what the their original dos operating system for fifty thousand dollars why do you know the number that's right Microsoft paid for the original operating system so hence it and and that's just one thing I mean you don't know yeah eight I think back to some of the companies that also came out we found out that their books were being cocked you know back in history we've looked at companies that that has happened to we looked at where maybes management was hiding information maybe losses came to light that nobody expected it there's so many different things so many different things that you just don't know about a company if you're investing in that company or even about an industry you don't know what changes will take place that make an industry more obsolete I you know look at people that we're investing heavily in the energy and industry and all of a sudden news came out and all this on those you can almost you almost couldn't give away those funds that we're investing in energy stocks a few years ago and it's still no you do not know what could be around the corner now another thing I'll I'll do the rest of the segment number let Iraq go next because I just have a few quick things that I want to hit kiddie tax something I don't talk about a whole lot but you know this is one thing that happened that that the call a lot of people by surprise a few years ago back in in two thousand seventeen now in two thousand twenty you may have heard this clients are going to be retroactively faced with the choice between tax systems for two thousand eighteen two thousand nineteen in a reversion to the old system going forward so what happened is I think a curve ball is thrown at us two thousand seventeen tax reform and this really bug me when it came out but basically what happened is you have under an income you know miners so you got this my account uniform transfers to minors account and that account is taxed based on the rates applicables to trust in the states that's what they came out with now for those of you that have those accounts and if you have a fairly decent size account that's a big pain a big pain because of you know much about trust taxation you get up to the highest tax rates in a pretty big hurry L. literally you get up to the thirty seven percent tax bracket at twelve thousand nine hundred fifty Bucks that can be a huge issue you know for an account that is of decent size well prior to the tax reform what happened is income that was subject to the kiddie tax you know you have this on earned income that was being paid by miners was taxed at the parents' top rate now there is a reason for that is because you don't want people going and taking money out of the parents tax rate and then handing over their kids just have their kids taxed at a lower tax rate so basically said yeah you're not going to trick us here at the IRS we were born at night but I went last night we are going to tax this account that you've where you've given money your kids we're going to tax it at your rate I I I understand he said to me one day he said you know our Uncle Sam expects you to steal he just doesn't want you to think he's stupid exactly exactly so so in essence what happened recently with with some changes is.
"treasury" Discussed on Today in Focus
"It's and said well as you note answer. We used to hide money from george osborne. We don't dare do that with you. Despite having per hour all these dire warnings about what could happen if the country voted leave. The treasury was now in charge of ensuring that the damage to the economy was as little well as possible. Did they believe the figures they had put out and at that point. Did they think this brexit puzzle was solvable. I genuinely believed that they thought they had done the right sums but it's very simple they were measuring the absence of a relationship in trade that we had that it's easy to measure the absence of something that is on the table in front of you what they couldn't of course measure which they admitted to was the potential tential gains in time when new trading relationships for example were established. I suppose in retrospect acknowledging the scope or limited scope of their assessment might have gone some way to reassuring those that really disagreed with that analysis. I still feel that the sums of the sums yeah i mean maths don't lie so so the treasury did the numbers right but may be the way they were communicated. They did numbers right but they were only a portion of the numbers and the way they were communicated. Communicated did scare people by this point. The referendum is long behind you and all your energy is focused on trying to get ah brexit dale tonight to ten a jobs and prosperity must come first in any brexit deal. John lewis bells out his priorities which is seen. There's a signal that he wants a change of emphasis in the brexit process although that parliamentary landscape was looking increasingly difficult whichever way you go people to the last people to to the right who are causing a potential trouble even if you did get detail from internal government information at the time we're you able to start to build a picture of what no deal might look like. I'm not sure what you mean by internal government information that <hes> that you'd expect me to discuss on a podcast but absolutely departments has started to bring in ideas of what they thought they needed and we were in constant contact with businesses with other whitehall departments about when some cases the concerns the businesses had about what will happen in departments about what they thought they needed to do to prepare and remember any treasury person would say this but it's fundamentally true. It is not just about handing out cash if there aren't people trained up in order control. It doesn't matter how much money you have. They don't exist to hire so many of the early the <hes> issues were around supply of people and scenery and i._t. Systems that we would need and less about the actual money but more about what could be supplied applied in time. Do you remember the first time to resume said no deal is better than a bad deal. Well first of all what i said. Is that no deal better than a bad deal. Oh no deal for britain is better than a bad deal for britain. No i don't. She said it so many times. It's very hard to remember when you first heard it. I've said before i said on many the occasions that no deal is better than a bad deal is better than bad. Do you know what he thought to that. From the treasury's perspective it wasn't ideal does a political appointee. I understood what she was trying to do in saying that but yes there were times we felt she said added at the wrong time and too often. Did you take it seriously. We putting money aside because your critics weren't convinced breath. Allocations were made up to experien- by the time. I left the job but this os felt was one of the mistakes people made when demanding and i'm people i'm referring to cer- politicians demanding that treasury do more to put put money aside for no deal prep. The treasury did put money aside billions aside for no deal prep. The work had to be done to find out what preparations operations were required wasn't more border guards. Was it more accountants. What what what was it and how would it be done in. That work took a long time to get underway. Because of course it wasn't unprecedent incident situation so that was work that needed to be done in departments then you come to the treasury with an estimate of what it's going to cost and you get the money for it. I refute this idea. That treasury was trying to sabotage talk. No deal prep it. It was a difficult exercise in many departments struggle to get rolling with the types things that they needed to propose the treasury for funding the very idea arab dale is quite a difficult concept to get your head around. What were the factors that you have to consider. There were issues around services and reciprocal services. There were issues around food supply because of course that depends on the poorest of your borders and its borders were to become more controlled the amount of food medicine all that sort the thing that would be able to get in had to be had to be factored in often the problems weren't the type of thing that you'd expect so when you talk about stricter border control using well that means they'll be fruit rotting routing in lorries coming into the u._k. That was an allegation made often in the press a no dual brexit would be a disastrous outcome for britain's food sector if delays laser portly fresh produce rotting in lorries but it's just as much a problem that do trucks are stuck in the u._k. And can't get back and so what happens is the supply chain starts to break down. I would say that the first phase of no- deal planning was often about logistics with a departments that were much more exposed. I used than others of course certain departments were were more exposed than others the department for food affairs the home office responsible for border security but there wasn't a sense. The toll told that anybody could relax for a minute. Everyone was going through absolutely everything they had to make sure that they were across any potential impacts to the industries that they are responsible for and and of course treasury responsible for financial services and philip work very hard to make sure they were represented. People coming in all the time to talk to you to update you to tell you about their fares people that we didn't necessarily hear about the food industry was very concerned about what it would mean for delayed deliveries border control that sort of thing but it didn't necessarily speak publicly. I suspect it was because they were worried about frightening their customers. How worried are you about it from where you're sitting. <hes> i genuinely believed we would end up with deal. I was obviously team working for a deal and that for me was my hope and it still is my hope you preparing for the eventuality of no deal but at the same time inside the treasury people must have been very nervous about that outcome after all the controversy around so-called. Oh cool project fair. We're officials worried about putting forward our worst case scenarios. I think you've touched on something that after the backlash there there were certainly some reticence about my. I can speak specifically for my experience. I was calms director there and of course you were. You knew that you would get backlash. If a figure was presented presented in a way is to appear threatening frightening figure we might have just looked at as a as a plain fact but i think it was also my job to take account of the feelings of people on both sides of the argument and to find a way to reach out both groups. You cannot underestimate the feeling on behalf off of some people that the democratic vote leave would not be respected and so- backlash from that corner stemmed from sense of genuine fear. I think that has to be recognized on the backlash was pretty strong yup. What i'm talking about. It is the way the treasury has behaved both before and after the referendum if you look at the full cost the treasury made before the referendum they were a humiliation seen the grocery but that is different from claiming they were rigged. They were clearly politically influenced so yes. I do think that fiddling the figures tell me about the attacks against the treasury during this period what the treasury's pretty robust. They're used to being criticized every fiscal event. Somebody hasn't got what they wanted and they they complain about it but there's no question that the allegations of project fear would definitely deeply felt than there was a period where x michael goes famous phrase. These people are sick of experts. People in this country have had enough of experts with the acronym expert. Some people felt in the treasury that that was aimed at the treasury. There was a period where the permanent secretary did a very good job of trying to reassure his staff. Don't be afraid need to say what's in your heart and your mind because if you are afraid we won't have the information do your jobs with integrity and things will be okay. Leave the politics to the politicians and people like me who were political appointees and it was high stakes because you were working on this brexit deal that you were desperate to pass so you were seeing on your desk how potentially damaging to the economy no deal cook bay vince people together majority in this parliament and like bill cash and bernard jenkin. You needed them on your side to get the numbers to get the votes past. Did you internally start to try and persuade them. Did you have briefings with them. The prime minister's team worked very hard to keep everyone inside the tent in truth. Having the treasury or any representative ended of treasury come in to try and convince some of the more hard brexit tears wasn't going to necessarily be productive so i think we focused our efforts where it it could be of more use. I mean presumably your efforts could have been a views in persuading number. Ten wasn't becoming increasingly clear at this stage that these guys weren't listening. They were attacking the treasury. If you look at what they say now it seems to me that they were never going to be satisfied with anything. You could have possibly absolutely negotiated in deal terms. Why wouldn't you looking elsewhere in parliament. Why wouldn't you trying to find a majority across the house. That's a very easy assessment after the fact and while you are still in conversation with the two sides working on a compromise in the middle you continue and you to think that you can bring people along with you. That's not to say your analysis wrong. I think you're absolutely right that now looking back it does look like an impossible task but at the time it was the one that we felt would bring the most people along with us and that we could find a way through we could find a compromise as much twenty ninth two thousand nine hundred thousand came close sad it became more obvious that it was going to be extremely difficult to find compromise the he is to the right two hundred and eighty six the nose elect three hundred forty four meaningful votes had been lost more than once and people talking about cliff edge at that point were will you putting in place emergency plans for no deal or did you still think in your heart of hearts that this was not going to be allowed. All i can say is that in the run run up to march twenty ninth there was increasing preparation increasing concern that that was a possibility that we could face a cliff edge and we weren't sure necessarily which direction the prime minister was going to have to go in those days i remember being not particularly clear on what was going to happen the next day or the next day and so certainly there was much more of a focus on it at that point yeah. It's interesting to look at what philip hammond has been saying since. He stepped down. I'm particularly forcefully yesterday. There is no mandate for leaving with no deal. It's absurd sir to suggest that the the fifty two percent of people that voted to leave the european union all voted to leave with no deal when in fact during during the referendum campaign there was virtually no mention made by the leaders of that campaign a tool of the possibility of leaving with no deal michael. He's argued that no deal is not acceptable sibal the it would damage the economy and even threaten the peacedale in ireland risk breaking up the u._k. He's also made clear that parliament will have it sachet which led to boris johnson to say m._p.'s now collaborating with the there's a terrible kind of collaboration as it were going on between are people who think they can block brexit in parliament and our european fresh seems to me how never really believe no deal with something thing that we could possibly accept and that he didn't really take it seriously. That's totally unfair. I half of what you said is right. The other half is not tell tell me which offers right on the he's he's been very clear and i suspect he'll continue to be clear that he believes no deal is bad for the economy and not responsible outcome. He believes it will be disruptive and he's very vocal about that but it's not right to say. He didn't take it seriously. Of course he did and given how strongly you feel about that. Since you left the treasury after the march twenty ninth deadline passed you watched a tory leadership race unfold three years after the brexit referendum britain is divided and deadlocked forced to resign as tory leader. That's resumes tory. Prime minister is nearly over but who is the man and they all men which felt like it was brexit arms race at times i mean there was talk of proking parliament and what are your views on suspending parliament from it rob where we don't need to suspend palm. I think it's very unlikely to do i've said i don't think it's likely but it's not illegal you auto repair. There was suggestion that they wouldn't even consider a time limit on the backstop. There was much more talk about no deal. You do plan for for no deal precisely because you want a deal and we have to do that and to take no deal off. The table is a complete nonsense. Germany actually agree with everyone that we should apart from rory that we should keep no deal on the table but it's not just talk now. Boris johnson is prime minister and he's promising brexit by any means necessary this october. Your oh former boss says that this government has now say it's negotiating boss so high. It feels that no deal is inevitable. If that's where we end up up what happens in the treasury on day one what levers do they pull the one thing. I know that the treasury will be doing if we were to end up in a hard brexit is they will be immediate in constant constant contact with business with financial services with banks the very good at maintaining a grid of communication contact. It's fundamentally unprecedented so we don't know exactly what it would look like and there are a million and one hypothetical outcomes that you could imagine the areas that i obviously focused on financial services and banking and the economy i think the main effects for that remitted are felt over the medium and longer terms. The lack of growth or the increased expense will be things that someone working the treasury today. We'll be worried about if we were to leave the heart exit whereas if you have a negotiated deal you know what your rates are going to be. You know what your tariffs are whether they're going to be there or not and you can actually do the sums into the planning. It's the not knowing it's the uncertainty bat for long-term economic planning even short-to-medium-term economic planning is deeply unproductive. It seems strange. The conservative party autopay which has always prided itself as being responsible with the economy appears to be heading under boris johnson almost deliberately towards a no deal brexit. How do you feel about that. I think i it is too early to say it is entirely possible that this is a strategy to encourage encourage the e._u. To negotiate on a on a different type of deal that could be passed. I'm pretty clear from my position that i don't believe a no deal. Option is responsible and i do understand that it is in many ways and for many people the only intellectually consistent option option but i remain hopeful that there is a third way and if it's not resumes deal which one thing i agree with him and his team on notes obviously been rejected this deal and there needs to be a third way and i remain hopeful that he will find a way to come back with the different deal that can be passed in parliament because i don't believe is that it is okay to sacrifice some people some businesses or some households too short term disruption even if over the long or medium term and we can improve our situation. I absolutely don't dispute that that's possible but i don't want to see a single household or business sacrificed feist to those ends. What do you mean sacrifice. What do you say well. There will be look..
"treasury" Discussed on FinTech Insider
"An optimist and I was responsible in the Treasury for doing the words prepare for no deal scenario but yeah that is clearly not where we want to be. I think that as enormous resilience to the city of London I mentioned the three elements of the technology heritage the access to finance city of London and a strong internationally Ashley well regarded regulator that isn't going to change and I think the beauty of Fintech is it is less focused on <hes> which jurisdiction it's it prizes innovation and if you can innovate and get regulatory approval you've got mark opportunity so I'm not for broader reasons within my portfolio relaxed about where we all we need to resolve the exit path from the but I think Fintech he's proved to be very resilient over the last three years and I see no reasons why it will be damaged going forward whatever the circumstances of our exit complaining wherever that I think as you say all of the elements are are still here if anything it it gives us some opportunity to to potentially take advantage of changing landscape. I I guess maybe the only thing to talk about is where we're going with this. What's the vision that you have from a future perspective? In terms of where tackle the London in financial services ecosystem couldn't get well. I think why would say is that the focus can always sometimes dwell a lot on creating entrusting tools for wealthy.
"treasury" Discussed on The Jason Stapleton Program
"Dying. Argument I've ever heard. Well, it's the treasury secretaries name on it all write my name on his hood. That's my car now. Okay. All right. Well done. Okay. Let me see. Let's see where I was here. Okay. That is affecting the question of inflation, the question of promises outstripping capacity to redeem promises and hints losing credibility as promises the credit of credibility is the credit of credit not to mention of credo or faith. That's a parenthetical thought. I don't know why that's even there. This is precisely why lawyers accountants and economists schooled in the simple mechanics of public finance always tell you the relevant constraint on spending is not some non existent fundraising constraint. But the inflation constraint also known as the resource constraint. Okay. So what he's saying is anybody is says people who actually deal in this economists who were schooled in public finance tell you that there is a constraint on spending not because they can't print enough money. But because you if you do you're gonna have very very serious consequences in doing that. Now, they're absolutely right in saying that he of course, disagrees and apparently a mountain. Historical evidence is is untrue to like when the people have done this in the past. What he's suggesting clearly, that's you know, that this was just a blip is this guy is is the case in point example of why macroeconomics is akin to astrology, right? Okay. Let's keep reading okay. So the truth of the resource constraint is that money can be publicly issued in spent only at a rate commensurate with new goods and services supply, if the money supply grows too rapidly for goods and services to keep up. You.
"treasury" Discussed on News Radio 1190 KEX
"Treasury Secretary Steven Mnuchin is on a six nations diplomatic tour of the Middle East where he's addressing the fight against terrorist. Financing his first stop Israel, where he's meeting with Prime Minister Benjamin Netanyahu ABC's Jordana Miller has more from Jerusalem with prime minister Netanyahu had his side. Mnuchin called Israel a quote, great place for investments, especially in the field of technology. The Treasury Secretary said the US plans to invest more in infrastructure projects on the political front. Mnuchin said he'll discuss the implementation of US sanctions on Iran coming up in November with Netanyahu, the Israeli leader reiterated his belief that sanctions are the only way to end Ron's nuclear weapons program. Giordano Miller ABC news Jerusalem, a visit to the Big Apple by a big British ship. The aircraft carrier HMS Queen Elizabeth came into New York harbor Friday. It has about one thousand five hundred sailors on board. It is the biggest ship ever built for great. Britain's Royal Navy? The ship is visiting for a week. The commanding officer calls visit very symbolic of the intimate relationship. The Royal Navy has with the US navy and Marine Corps. The nine hundred thirty two foot worship has up to sixty aircraft on board. Dave Schreiber ABC news, New York in Texas, more than fifty counties are part of a state disaster declaration following massive flooding from heavy rains. Authorities say they found the body of an Alabama woman who went missing from an RV park in central Texas. This is ABC news. It's time to join the millions of people using zoom. Videoconferencing, turn.
"treasury" Discussed on WTVN
"Treasury Secretary Steven Mnuchin is on a six nations diplomatic tour of the Middle East where he's addressing the fight against terrorist. Financing his first stop Israel, where he's meeting with Prime Minister Benjamin Netanyahu ABC's Jonah Miller has more from Jerusalem with prime minister Netanyahu had his side. Mnuchin called Israel a quote, great place for investments, especially in the field of technology. The Treasury Secretary said the US plans to invest more in infrastructure projects on the political front. Mnuchin said he'll discuss the implementation of US sanctions on Iran coming up in November with Netanyahu, these really leader reiterated his belief that sanctions are the only way to end Ron's nuclear weapons program. Giordano Miller ABC news Jerusalem, a visit to the Big Apple by a big British ship. The aircraft carrier HMS Queen Elizabeth came into New York harbor Friday. It has about one thousand five hundred sailors on board. It is the biggest ship ever built for great. Britain's Royal Navy? The ship is visiting for a week. The commanding officer calls the visit very symbolic of the intimate relationship. The Royal Navy has with the US navy and Marine Corps. The nine hundred thirty two foot worship has up to sixty aircraft on board. Dave Schreiber ABC news, New York in Texas, more than fifty counties are part of a state disaster declaration following massive flooding from heavy rains. Authorities say they found the body of an Alabama woman who it missing from an RV park in central Texas. This is ABC news. It's time to join the millions of people using zoom. Videoconferencing, turn.
"treasury" Discussed on KTAR 92.3FM
"Treasury Secretary Steven Mnuchin is on a six-nation diplomatic tour of the Middle East where he's addressing the fight against terrorist. Financing his first stop Israel, where he's meeting with Prime Minister Benjamin Netanyahu ABC's Jonah Miller has more from Jerusalem with prime minister Netanyahu at his side. Mnuchin called Israel a quote, great place for investments, especially in the field of technology. The Treasury Secretary said the US plans to invest more in infrastructure projects on the political front. Mnuchin said he'll discuss the implementation of US sanctions on Ron coming up in November with Netanyahu, the Israeli leader reiterated his belief that sanctions are the only way to end Iran's nuclear weapons program. Giordano Miller ABC news Jerusalem, a visit to the Big Apple by a big British ship. The aircraft carrier HMS Queen Elizabeth came into New York harbor Friday. It has about one thousand five hundred sailors on board. It is the biggest ship ever built for great. Britain's Royal Navy? The ship is visiting for a week the commanding officer calls to visit very symbolic of the intimate relationship. The Royal Navy has with the US navy and Marine Corps. The nine hundred thirty two foot worship has up to sixty aircraft on board. Dave Schreiber ABC news, New York in Texas, more than fifty counties are part of a state disaster declaration following massive flooding from heavy rains. Authorities say they found the body of an Alabama woman who went missing from an RV Parkin central Texas. Mrs ABC news, it's time to join the millions of people using zoom. Videoconferencing, turn any.
"treasury" Discussed on KOMO
"Treasury Secretary Steven Mnuchin is on a six-nation diplomatic tour of the Middle East where he's addressing the fight against terrorist. Financing his first stop Israel, where he's meeting with Prime Minister Benjamin Netanyahu ABC's Jordana Miller has more from Jerusalem with prime minister Netanyahu at his side. Mnuchin called Israel a quote, great place for investments, especially in the field of technology. The Treasury Secretary said the US plans to invest more in infrastructure projects on the political front. Mnuchin said he'll discuss the implementation of US sanctions on Iran coming up in November with Netanyahu, these really leader reiterated his belief that sanctions are the only way to end around nuclear weapons program. Giordano Miller ABC news Roussillon a visit to the Big Apple by a big British ship. The aircraft carrier HMS Queen Elizabeth came into New York harbor Friday. It has about one thousand five hundred sailors on board. It is the biggest ship ever built for great. Britain's Royal Navy? The ship is visiting for a week. The commanding officer calls visit very symbolic of the intimate relationship. The Royal Navy has with the US navy and Marine Corps. The nine hundred thirty two foot worship has up to sixty aircraft on board. Dave Schreiber ABC news, New York in Texas, more than fifty counties are part of a state disaster declaration following massive flooding from heavy rains. Authorities say they found the body of Alabama woman who went missing from an RV parks, central Texas. This is ABC news. It's time to join the millions of people using zoom. Videoconferencing, turn any.
"treasury" Discussed on Are You Real
"A specific assignments to take dominion over so what i'm fascinated by god is still through the form of what jesus was teaching the fish were actually carrying the government currency or i should say they were the the holders of the treasury so the fish if you can remember it was time to pay taxes on jesus cycle take once you go out in let down your line in the first fisher catch is going to be gold in it so immediately you you see that jesus is still access accessing the principle of taking dominion that the fisher are actually working for you they're carrying your treasury now that doesn't mean that fish is the department of treasury i'm fascinated how god moves the treasury around and i wanna say that say this i wonder how many schools have fish are following you waiting for the line of you because you're carrying the government of god that will be drawn to you with golden its mouth that it's ready to release at any given moment that it's not a desperation to try to get money but the fish or the schools official carrying gold are desperate for you to enunciate away to connect with you to release the treasury of heaven to you in through you enter the people around you those are all that's a supernatural demonstration of god's intent on the abundance of who he is that even the fish will go to work for you to get from the treasury room of heaven the the governance of what god does for his people that we are supposed to be a company of people that are never in desperation never lacking never crying out continually begging that's not who we are that is there is none of that going on in heaven therefore none of it should be going on here on earth however the department of treasury is something that god has that i believe is in heaven to the point that even the roads are paved with gold i mean asphalt what we call asphalt there the goal streets gold so when things that god told me one day was he goes he asked me why do you think there is why do i have my goal streets in heaven.
"treasury" Discussed on WGTK
"But what it does is create a lot of unnecessary appeal real burden on the economy because prosperity does not cause a weak dollar and uh and so uh but they're gonna they're gonna if the economy really picks up the head of steam they're gonna say oh we have a overheating we've got uh prices rising up wages rising we've got us put a stop to to slow it down so they were deliberately tried to throw people out of work which i think is scandalous if the economy has on an upswing why has the dollar weakened because uh the federal reserve and the treasury department has signalled to the market that they want a weaker dollar you know the treasury secretary guy owns an it's painful two weeks ago he he stated publicly which you're not supposed to do you're supposed to signal you want a weaker dollar you're not supposed to state the right he he he violated the norms so he had backtracked but everyone now fears that's going to be uh the treasury policy and we should have learned from the early 2000s where that leads phony commodities boom housing disaster don't need it again all right so what the government done to keep the dollar week by in effect printing uh to to too much money okay go out i thought that was the answer so i have a question so i want to understand something what i i i'm sure betraying ignorance here but it's the only way all learned now the economy ignorant one fell by what right does the government decide how much money should be printed uh it has its own theories but uh it really doesn't know what it's doing but it thinks it has the uh uh congress said all right of the things that is supposed to keep full employment so the fed says well we'll do whatever we want to achieve that even if it doesn't work will continue to do it how should.
"treasury" Discussed on WGIR-AM
"Cost for that so just give a call eight five five nine two nine game sea of let's talk about a few things that we should know wool uh cleverly call this stuff you should know all right we put a lot of thought of that titled in may when it comes to this stuff when economic culture as a really early this firmly it that is blip he and stuff we are you know we're not gonna the part well when it comes to the financial realm there are some things that we all should be aware of but there are a few things out there that the average bear doesn't know as you like to say so let's talk about a couple of these that uh people might be surprised in the first one the global bond market is about twice the size of the global stock market the average investor certainly does not know that well i think the first thing that it should tell you if the bond market is twice as large as the stock markets globally is that there's a whole lot of debt going on out there yeah banzer debt the other thing that that i might add rebel last week when when the market was blip he yes at what was happening there what was happening was was that the treasury bond they're not talking about longterm corporate bonds but the treasury bonds were creeping up and so what happens when the treasury bonds stagg creeping up will when the treasury bonds dot creeping up money starts flowing to them but where does that money come from that money typically comes from the stock market so when you see cracks in the in the stock market when it starts get blip he many times is because that money is moving to safety in the form of the treasury's and that's exactly what you saw last week coca high well that's good information to know and so you certainly wanna make sure than we talked about bonds earlier so we won't carry on too much.
"treasury" Discussed on WGIR-AM
"There's no there's no cost for that so just give a call eight five five nine two nine game escape let's talk about a few things that we should know walk mullahs cleverly call this stuff you should know all right we put a lot of thought of that titled in may when it comes to this stuff when economic technical as it really early is firmly it it is a blip he and stuff we are we're not gonna the port well when it comes to the financial realm there are some things that we all should be aware of but there are a few things out there that the average bear doesn't know as you like to say so let's talk about a couple of these that uh people might be surprised in the first one the global bond market is about twice the size of the global stock market the average investor certainly does not know that well i think the first thing that it should tell you if the bond market is twice as large as the stock markets globally is that there's a whole lot of debt going on out there yeah the banzer debt the other thing that that i might add rebel last week when when the market was blip he yes what was happening there what was happening was was that the treasury bond them not talking about longterm corporate bonds but the treasury bonds were creeping up and so what happens when the treasury bonds start creeping up while when the treasury bonds dr creeping up money starts flowing to them but where does that money come from that money typically comes from the stock market so when you see cracks in the in the stock market when it starts get blip he many times is because that money is moving to safety in the form of the treasury's and that's exactly what you saw last week coca all right well that's good information and know and so you certainly wanna make sure than act we talked about bonds earlier so we won't carry on too much about that.
"treasury" Discussed on No Agenda
"Loyd keep your baby quiet your babies bothering me here yeah that's just lady hater say hey hear all these in california not they had striven the babies and children they hate children and they would dig this will you end up with this you can see it in the midwest everybody's looked fawning over the baby over out here the all hate the baby a debate me because they just do and in cabello won and and it's just to california there's just turned they've turn anti people they hate people a babies they hate reproduction they want everyone to have an abortion naveta bhartia don't have a baby a chance for you off the item i an either blue waiting for a clip this was much better maybe uh another get to others if you want him i'll i'll do the one quick one here as his about the this is larry summers who was president obama's was he dignitaries they treasury of the treasury treasury at the council on foreign relations of course and he says and i think he has merit actually with his claim here that uh when it comes to the tax the whole sequence of how the tax law the tax change was rolled out which we identified pretty much immediately with these bonuses and he's like now i think we kinda that's an great marketing trick in trump probably had to deal with somebody about some of these bonuses of front because it just happened way to quaking over all of a sudden boom here we are bonuses at a board meeting or anything right yes exactly so here's what somers has to say about it i think give a i think in many cases the firm's half to raise wages because labor markets are tight so why not curry favour with the white house by linking it to the tax cut i.
"treasury" Discussed on KBOI 670AM
"Much above the market that's way above the 10year treasury that's like a hundred basis points above the 10year treasury well a 10year treasuries is not provide stable now you because the price of a tenure 10year treasury can be highly volatile specially went rates change and not to your benefit when rates are going up so you have to be careful with this stuff because it's not always what it appears the big a treasury bills the treasury bill a aaa commercial paper is a aaa commercial paper a as long as the company stays aaa during its term or high quality during its term but this is a a difference a dead horse of a different color here stable value fund was seventy percent of synthetic guaranteed investment contracts that's uh that's a different kind of a a breed as far as stable value funds are concern i think and the proof is we had a caller this hour that has a two percent stable value fund so that's pretty big difference right there let's get joe on the line in pensacola joe it's your turn hello john hugh um uh i'm i'm calling i'm a i'm in my '70s and i normally have a 60 percent fixed income and forty percent uh but uh in in uh in equities and are currently have a full service broker and i'm paying uh almost five hundred dollars a month uh for them the managed wifi might funds that i've listened to your show almost since the beginning and you keep saying you know you can do it on your own if.
"treasury" Discussed on POLITICO's Nerdcast
"But i don't have enough time to enjoy the city we'll be right back with more of my conversation with treasury secretary mnuchin but first a word from our sponsors a message from morgan stanley when it comes to investing the methods people used to make choices often aren't rational group thinking and confirmation bias can subconsciously impact your approach for example some research shows that people prefer stocks that have easy to pronounce ticker symbols acknowledging in overcoming that bias helps you make him more informed investment decision thoughtful decisionmaking and following the data can help you maintain intellectual independence here the full podcast and morgan stanley dot com slash h e r d morgan stanley and co llc member sipc route let's get into the tax plan for a minute without having a people's eyes glaze over biggest knock on it from democrats from uh some people in the financial community elsewhere is that they're tax cuts that are tilted towards the wealthy particularly if you're getting rid of the alternative minimum tax and the estate tax so question is how do you fix that problem at why not just you know forget about getting rid of the estate tax and the alternative minimum tax focus on getting the corporate rate lower and then rates for average americans lower uh what is the best way to go about convincing people that this is not a tax cut for the wealthy inc's at the expense of middle income well let me just comment on the chew priorities of this or one creating a meal income tax cut into making a competitive business tax system we have one of the highest.
"treasury" Discussed on Capital Ideas Investing Podcast
"That period of time i think was an important lesson for investors in a couple of things the first being that the municipal bond market is still a relatively closed market people invest and municipal bonds because they want the tax exemption not everyone can take advantage of that tax exemption and so buyers and sellers are a relatively tight net bunch if you will when volatility comes and oftentimes volatility is triggered by something happening and the treasury market as it was again in november that tends to lead to even greater volatility in municipals what made this particular period of volatility somewhat unique is that when you think about the sources of that volatility tax reform the potential for a large infrastructure spending bill and the potential repeal and replace of the affordable care act each of those three factors had a direct significant potential impact on the municipal bond market so i guess it shouldn't surprise us that we saw a period of a fairly extreme volatility that being said oftentimes periods like we had in november and early december of the end of two thousand sixteen provides tremendous opportunities for us as investors within that market and gave us an opportunity to invest in some names that we had bought earlier in the year and now we're able to add to at cheaper prices it gave us an opportunity to provide liquidity and capital to projects and organisations that needed to borrow money during those those weeks volatility.