Former Sen. Heidi Heitkamp, who is a Democrat, says Biden’s plan to tax assets at death would hurt family businesses. Indeed, it would destroy small businesses, for it would be impossible for the family to pay such a tax without selling assets and firing people. Part of the agenda of Marxism is to eliminate the […]

ASIA: China will likely fail in its bid to join the Comprehensive and Progressive Trans-Pacific Partnership, but its move to submit an application highlighted the lack of US economic policy in Asia-Pacific. CPTPP is an 11-nation mega-trade pact formed in 2018 after Donald Trump pulled the US out of the Trans-Pacific Partnership a year earlier. […]

ASIA: Evergrande’s debt crisis will slow down China’s economic growth, but will likely have minimal spillover on the country’s financial system, Li Daokui, a former advisor to the People’s Bank of China said in an interview to CNBC. He added that a default by Evergrande will have minimal effect on the Chinese financial system because […]

ASIA: China’s Evergrande Group dollar bondholders were still waiting for information about a key interest payment due Thursday, with some holders having given up hope of getting a coupon payment by the deadline, Reuters reported. The property developer was instead expected to provide more information in the coming month, the news agency said. Evergrande was […]

ASIA: Chinese leader Xi Jinping said on Tuesday that China would not build new coal-fired power projects abroad, using his address at the United Nations General Assembly to add to pledges to deal with climate change. China has been under heavy diplomatic pressure to put an end to its coal financing overseas because it could […]

ASIA: Crisis-hit Chinese property developer Evergrande used billions of dollars raised by selling wealth management products to retail investors to plug funding gaps and even to pay back other wealth management investors, executives of the company said in a statement. Evergrande financial advisers marketed the products widely, including to homeowners in its apartment blocks, while […]

ASIA: Leaders of the United States, Japan, India and Australia will agree to take steps to build secure semiconductor supply chains when they meet in Washington next week, Reuters reported. US President Joe Biden will host a first in-person summit of leaders of the “Quad” countries, which have sought to boost cooperation to push back […]

QUESTION: Marty, I know you reported on the Canadian bill to suspend elections during a pandemic, do you think that is in the cards going ahead? HS ANSWER: I found it shocking that they would actually introduce such legislation in the first place. But what we have to understand is that this is part of […]

ASIA: The People’s Bank of China added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements on Friday, the most since February. Today was the first time this month it added more than 10-billion-yuan short-term liquidity into the banking system on a single day. The move […]

QUESTION: Marty, the government closed the New York Stock exchange in 1914 due to World War I. Do you think they will do that again? Looking forward to Orlando WH ANSWER: The closure of 1914 was not the only time they shut down markets. Even the London market was shut down during war. On June […]