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Days after Theresa May triggered Article 50 of the Lisbon Treaty, Brussels issued a nine-page document outlining its guidelines for Brexit negotiations. One of the guidelines gave Spain the authority to veto any deal between Gibraltar and the European Union […] The post Between a Rock and a Hard Place: The Gibraltar Dilemma appeared first on ValueWalk.

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For this week at least, shove the GOP health care plan to the back of your mind. Come Friday night, the government is facing a shutdown should it fail to pass a bill to fund itself. And on Wednesday, the president is scheduled to announce his plan for tax reform. Rep. Kevin Brady, a Republican from Texas, is the chairman of the House Ways and Means Committee. Marketplace host Kai Ryssdal spoke with Brady about the coming week. The following is an edited transcript of their interview. Kai Ryssdal: So the Wall Street Journal reports today that you and the rest of the tax leadership in the Congress are going to the White House to meet with Secretary Mnuchin and the head of the National Economic Council Gary Cohn tomorrow. Is that happening? Kevin Brady: Yeah, it is. I think it's pretty important. I think one of the key elements for tax reform this year, which is really the first time in 30 years we've had this opportunity, is for the White House, the House and the Senate to get on the same page, especially on the big issues, the big principles, that go with tax reform. Ryssdal: What's on the table, then? Brady: Well, so look: We're in the House. In my discussions with President Trump is a, "Look, we recognize this happens once in a generation." And the code we've got today is so costly and complex, and it's just broken. And so we're trying to design a tax code built for growth that leapfrogs America into the top three best places on the planet for that next new job or plant. So we're proposing, and I think the president will, as well, the lowest tax rates on our job creators, whether they're local businesses, small businesses or major ones, in history. A tax code so fair and simple, most Americans will be able file using a postcard system. And then I'm hopeful the president joins with us in busting up the IRS. We think we need a new agency for the 21st century. Ryssdal: Come on, a postcard? Seriously? Brady: Yeah, for about 9 out of 10 Americans, we've designed a system that is that fair and that simple. It flattens the brackets out to just three. About 95 percent of Americans will be able to file using that simple an approach. Ryssdal: President Trump has talked about getting the corporate tax rate down to 15 percent. Sir, how are you going to do that? And how are you going to flatten out the individual tax rates and keep all those deductions without blowing a hole in the deficit? Brady: Yeah, I think for us to make sure this is revenue neutral, counting on economic growth, by the way, which lets us go much bolder in tax reform. So on the business side, you know, I think we can get close to 15 or certainly at 20, and which makes us very, very competitive worldwide. We can also stop taxing our American businesses worldwide, and we can make sure that all products are tax equal in the U.S. You do that, that leapfrogs us to the top three. And again with the families as well. You can't keep those hundreds and hundreds and hundreds of special provisions for some and lower tax rates for everybody. So you've got to be willing to trade off some of those provisions to make sure you're really giving people a lot more, and businesses a lot more control of what they earn. Ryssdal: Yes, but let's be clear on the growth thing, sir, because Secretary Mnuchin said this again today, he said these tax cuts are going to pay for themselves with growth. I think that's what you're saying, but you're betting on the come, right, because we haven't had the kind of growth you all are talking about in years. Brady: Well, regrettably, under the past president, you know, we averaged less than 2 percent growth, which is half of what we've been doing as a country, and certainly a lot less than we normally do. We bounce back from recessions like no other country does. But not this last time. So we're counting, not on our own projections, but on an independent source, the Joint Committee on Taxation, [to] really lay out what kind of growth we'll see. Tax Foundation, [an] independent group, estimates under the House tax reform plan, our economy will grow by over 9 percent. And more importantly, our wages by nearly 8 percent. So those are good, strong, achievable numbers. Ryssdal: Those are extraordinary numbers. Let me ask you, sir, about timing. You have said, and you just said it a minute or two ago, it's a generational thing to do tax reform the way you are talking about doing it. Why are you squeezing it in, then, according to the White House's timetable? Brady: Well, I think it's important to get it done this year. Our economy really continues to struggle. I know the unemployment rate is down, but, boy, we've left millions of people out of jobs. Young people just leaving school can't find jobs. A lot of people [have] just given up. Ryssdal: Let me make sure I heard you: We're going to get this done this year. That's what you're saying. Brady: Yes, sir. 2017 is our goal to get this done. Ryssdal: All right, is it going to be a bipartisan plan? We had Jason Furman, who, as you know, is President Obama's economic adviser. He was on the program a couple of weeks ago saying, listen, this has to be bipartisan to get it to stick. Do you buy that? Brady: Well, I would like to see it bipartisan. I mean, that's the best way to do tax reform. But, I don't know. We've engaged Democrats, invited them to bring us their tax reform ideas. I think they've got some good ones, but they're in a pretty tough place right now. They're really pretty obsessed against President Trump. So I'd love to see them come to the table. That's the best way to do things. But if they decide to obstruct, I think using that budget process that allows a simple majority in the Senate may be the way it has to be done. Ryssdal: Let me ask you one more thing, sir, and then I'll let you go: Is the government still going to be in business Saturday morning, or are you all going to shut it down? Brady: Yeah, I think it will be. Look, I don't think there's any issues at can't be resolved. Unless Democrats are really ready to shut this government down — I don't believe Republicans are. Ryssdal: Well, you say Democrats being ready to shut it down, but last time I checked, Republicans control the Congress and the White House, sir. Brady: Kai, as you know, the Senate takes 60 votes to pass these budget agreements. That means 8 Democrats at least have to support it. And so, in the Senate, there has to be a bipartisan deal. And so the question will really be, well, you know, what will Democrats insist upon in order to vote yes to keep the government open? And I don't know yet. I think they're all over the road. 

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Social Security, like America's trillions of dollars of underfunded public and private pensions, is nothing more than a ponzi scheme that will eventually fail.  Any system that relies on capital drawdowns to fund benefit obligations while the number of beneficiaries continues to soar is, by definition, a rather obvious ponzi.  That said, it's always easier to 'kick the can down the road' and hope for the best than to preemptively address the real problems that face retirees...after

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Speaking during a first of its kind meeting dedicated only to members of the U.S. conservative media, including Breitbart News, OANN and Daily Caller, President Trump told reporters to expect a 20% tariff on softwood lumber coming into Canada. “We’re going to be putting a 20 per cent tax on softwood lumber coming in — tariff on softwood coming into the United States from Canada,”  tweeted Charlie Spiering of Breitbart Media. TRUMP: “We’re going to be putting a 20% tax on

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Negotiations between the Writers Guild of America and television and movie production companies are in recess today as the union counts membership votes on whether to authorize a strike. Watching with not-quite-detached interest is Sherry Lansing, the former CEO of Paramount Pictures. When Lansing came to Los Angeles in the mid-1960s to become an actress, she initially found more work teaching English and math than on the screen. Eventually though, she found a career behind the camera as a producer, then a studio executive and then running Paramount Pictures. Lansing is the subject of "Leading Lady," a new biography written by Stephen Galloway. She talked with Marketplace host Kai Ryssdal about her varied career in the movie business and how the industry has changed. The following is an edited transcript of their conversation.  Kai Ryssdal: What was Paramount Pictures like when you took over in 1992? Sherry Lansing: Well, when I took over, there had been an absence of a lot of films. So, for want of a better word, the cupboard was kind of bare, and the most important thing was to find movies. Because no matter what the responsibilities of the job are, no matter how much you have to worry about the parking lot and the commissary and all the bureaucracies of running a studio, your success is simply determined by whether the movies succeed. Ryssdal: The list of movies that you either greenlighted at Paramount or were involved with as a producer, is extraordinary. "Forrest Gump," "Braveheart," "Titanic," "Fatal Attraction," "Private Ryan." Did you know? For instance, when you came out of the test screening? Lansing: So, first of all, that's very kind of you, and I want to say that I certainly did not do this alone. There was a team of people I worked with who I'm very grateful to, and I also want to say that the filmmakers deserve all the credit. Did I know? There's not a movie that I greenlit that I didn't think would be a huge hit. So let's start with that. I believed in every movie. And I also want to say, I worked just as hard on the movies that failed as I worked on movies that succeeded. Ryssdal: Does that gut you? That must get you to see a movie fail. Lansing: I tell you, you can't get out of bed in the morning. I always felt that I let the filmmakers down, that it was my fault. And it was my fault, because I felt that the studio has a responsibility to open the picture. That opening weekend is our marketing. And there were just times where I was depressed for days. And then, you cannot wallow in this. You have to pick yourself up, and you have to try again. Photo courtesy of Crown Archetype Ryssdal: And especially in this industry, right? Because it's not your best work, it's your last work. Lansing: That’s correct. And that drives me crazy. Everyone should be judged on their best work. So, you ask the question, did I know when the test screenings were great? I certainly had high hopes. But then again, you have to sell it to the public. So, there are pictures that had phenomenal test screenings, and the audience didn't come. The one that comes to my mind is "Searching for Bobby Fischer." I loved that movie. I think we released it twice. And they never came. There were other pictures where the test scores aren't that good, but you can sell them. And they do a lot of business. So it's not just the movie, unfortunately. And that's how I think the business has changed so much since I first got into it and since I was a kid. Ryssdal: Since you brought us up to now and today, and acknowledging that you've been out of the industry for 10 or 12 years now, what do you make of the changes in — I apologize for this word — “content production?” I mean, television now is the place to be, and movies, well, there are like three movies every year, and they're all huge tent poles and that's about it. Lansing: So, I think it's a thrilling time to be in the business. And even though I left the movie business literally 11 years ago, I am still a huge fan. And when I say movies, I just mean entertainment. To me, it doesn't make any difference whether it's in the local theater or whether it's on my iPad or whether it's on my television. I'm talking about content. So, when I was growing up, if you didn't have a studio give you the money to make your movie, you couldn't do it. I say to young filmmakers today, "You have an iPhone. Go make your movie." You don't need a lot of money. Go make your movie, put it on YouTube, put it on the web, it'll get found. Ryssdal: There's a question I ask people who have moved on from that thing on which they built their career, but I kind of can't ask it of you, because there's a line in the book that says that when you left, you were burned out. And you were upfront about that and you were done. And now, you have clearly found your passion in your foundation in philanthropy. Lansing: I always knew that my goal would be to start a foundation and to give back. And I think for me after, oh, I don't know, 30 years in the business, I think I was burnt out. The passion, which is the most important thing I had, was kind of moving to something else. And so, for me, it was moving to cancer research, because I lost my mother to cancer. It was moving to education, because I'm a former math and English teacher. But I did love my time in the movie business, I want to be clear about that. I just — it's about chapters. I mean, life is about chapters. It's about rewiring not retiring. So, I feel very grateful and very blessed. Ryssdal: Sherry Lansing, thanks very much. Click here to read an excerpt from Sherry Lansing’s biography, "Leading Lady." 

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Chinese banks face profitability pressure: Moody’s BEIJING — Chinese listed banks were confronted with profitability pressure from the country’s slowing economic growth, despite the absence of any significant deterioration in reported asset performance, said Moody’s Investors Service. “At the same […] The post Chinese banks face profitability pressure: Moody’s appeared first on ValueWalk.

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Well, it looks like we may have our latest moral panic to deal with. The UK's National Crime Agency is warning that kids modding video games may be a gateway to becoming criminal hackers: Gaming websites could be spawning a new breed of cybercriminals, according to new research which claims that young people are being indoctrinated into hacking crimes via free and easily-accessible internet pages. Websites and forums which provide cheat codes and modifications for video games are making

Read more: Techdirt.

If you're wondering why people who support Donald Trump can repeatedly claim that various mainstream publications traffic in "fake news," look no further than the ongoing news coverage of a lawsuit that was filed against his campaign by three protestors. Yes, we know that reporting on legal issues by mainstream publications is bad, but the reporting on this particular case is so bad that over and over and over again it directly states, or at least implies, things that are simply not true. Over

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Back in October, 2015, Marketplace partnered with Edison Research to start asking Americans about their feelings on the day's big economics issues. Our reporting just wasn't matching up with the headline gains in the economy. So, we asked you how stressed you felt about the economy on a scale of zero to 100. Our latest poll numbers are back, and there looks to be a bright spot: Americans are feeling less anxious about the economy, mostly. Larry Rosin, the president of Edison Research, sat down with Marketplace host Kai Ryssdal to sift through the results of the Marketplace-Edison Research Poll. An edited transcript of their conversation follows. Kai Ryssdal: Give me the headline number, would you? The economic anxiety index out of this thing? Because there have been some changes since last we spoke. Larry Rosin: We have been doing this series going back to a year before the election, back to the fall of 2015. And as we've been doing this series, we've watched the level of anxiety that people have about the economy go up and up and up, and this is our first one since the election. And the numbers have actually dropped pretty dramatically, down basically to the level they were in the fall of 2015 when we started this process. Ryssdal: Except, it has to be noted, for 18- to 24-year-olds, who are now more anxious than they've ever been. What gives with that? Rosin: The best indication we can see from this study is they are also, by far, the least in approval for President Trump's management of the economy, and of course they did not vote for Trump in huge numbers. So the best guess is probably that that group is so unhappy with the current political situation, perhaps, that it has increased their anxiety. But what is interesting is that with the exception of that 18 to 24 group, pretty much everybody else reduced on their anxiety level, and that's both Republicans and Democrats. And independents. Ryssdal: Yeah, you break it down, though, by issue area, and our numbers now show that health care as a national economic issue is the biggest thing that people are worrying about. Rosin: It sure seems to be. We fielded this study right after the attempt to repeal and replace Obamacare with a new act. And then the withdrawal of that. And maybe that heightened the concerns a little bit more. I just think it's an endless cause of stress for so many people, feeling that they're sort of on the razor's edge when it comes to making sure they have coverage and making sure that coverage gets them the health care that they need. And that it will be there going forward. Ryssdal: Which gets us to the next thing that I wanted to point out. Seventy-four percent of Americans in our poll say they believe the government in Washington has forgotten about them, and that goes across party and identification. Rosin: Our study shows that people remain very unhappy and distressed with what Washington is doing for them or to them. And there is no sign yet that a new administration, one that's sort of ran against Washington, has been able to reverse that perception at all. So people yet remain very unhappy with Washington and its attempts to help them. Ryssdal: Last thing, Larry, that I want to ask you about is people's perceptions of the economy, and specifically economic statistics. The numbers in our last survey show that Republicans generally didn't trust economic statistics from the government. Democrats generally did. And now we find that that has changed, actually. Rosin: Yeah, this is so much of the fun of being a survey researcher is watching things like this. So in the lead-up to the election, candidate Trump was making a huge issue of the idea that the data you get from the government was untrue, and people seemed to follow his lead. Republicans overwhelmingly agreed, and Democrats tended not to agree with that. We asked now that there's a new government, a new administration, and while Republicans are still more likely to think that the data from the government is untrue, their numbers have come way down. Democrats' numbers have come up a little bit, but not as much so in general people's distrust of the government is down as compared to when we asked before the election. So it really shows that who's in charge, who's leading the discussion, really does have an impact on what people think.  Take our economic anxiety quiz to see how you compare to the national average.

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Legislators working with the Association of California School Administrators are backing away slowly from a bill aiming to separate schoolchildren from their phones and their privacy. The bill would have created an exception in California's privacy law, allowing teachers and school administrators to search the contents of students' phones. Courthouse News' Nick Cahill has more details: While short in length, the bill has stature. Its 130 words would exempt students from the California

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With all the bluster coming from North Korea – nuclear missile tests, talk of protracted war with a nuclear threat hanging overhead – a Bank of America Merrill Lynch piece thinks the worst potential outcome, while chilling and difficult to […] The post Pricing North Korean Risk Into Market Difficult appeared first on ValueWalk.

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About the action today in the gold market, China, and Europe... The post About The Action In The Gold Market, China, And Europe… appeared first on King World News.

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Researchers say they've discovered a new wave of malware with one purpose: to disable poorly secured routers and internet of things devices before they can be compromised and integrated into botnets. We've often noted how internet-of-broken-things devices ("smart" doorbells, fridges, video cameras, etc.) have such flimsy security that they're often hacked and integrated into botnets in just a matter of seconds after being connected to the internet. These devices are then quickly integrated

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Last Monday I wrote about the size of the U.S. military budget, and compared it — unfavorably — to the situation of the late Roman Empire. Given the high status of the U.S. Armed Forces in our society, I expected […] The post Our Military Has Been Hijacked appeared first on ValueWalk.

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The countdown is almost over. Come Saturday, President Trump will have been in office for 100 days. The 45th president arrived at the White House with quite a to-do list. Among the things he hoped to accomplish during the first 100 days in office were: tax reform, repealing and replacing Obamacare, investing in infrastructure and ending illegal immigration. None of these have been checked off yet. As his first three months in office come to a close, Trump’s approval numbers are coming in at historic lows. A new Marketplace-Edison Research Poll found that 51 percent of Americans disapprove of Trump's handling of the economy, while 42.7 percent approve.  These numbers align with other polls released this week. A new Wall Street Journal-NBC News poll found that 54 percent Americans disapprove of Trump’s performance so far compared with 40 percent who approve. Another poll conducted for Washington Post-ABC News found that the president’s approval rating stands at 42 percent, compared to 53 percent disapproval. Related links Quiz: Find out your economic anxiety level The word 'Trump' may be shifting our ideological attitudes You think Washington has 'forgotten' you — and it doesn't matter what party you're in One of the interesting findings in our poll was that the economic anxiety for most Americans declined after the elections. It was not that most Americans were doing much better financially — almost 40 percent said they were doing about the same and 16 percent said they were doing worse than they were a year ago. However, an even smaller group of respondents — 15.4 percent — said they were afraid they might lose their job in the near future. Just 8.9 percent said they are afraid they’d lose their job to an immigrant. Mainly, our poll shows that Americans are anxious about the possibility of losing their health care. About four in five Americans are worried about health care, with 49 percent worrying a lot and 33 percent worrying a little. “We found that the level of anxiety about health care is exceptionally high,” Larry Rosin, president of Edison Research, told us Monday morning. “A huge majority of people say they worry, at least sometimes, about health care — about it wrecking them financially, about being unable to find insurance or being able to pay for things. So of all the reasons that people have economic anxiety in the states, it turns out health care is probably the single-biggest driver. More so than even jobs.” Trying to unsuccessfully tackle repeal and replacement of Obamacare early on in his presidency might have cost Trump his honeymoon period — the early period in office when U.S. presidents typically enjoy higher approval ratings. Out of the last dozen presidents, only Trump and President Gerald Ford saw their approval numbers come in below 50 percent, according to the Washington Post. President Barack Obama, on the other hand, enjoyed a 69 percent approval rating during his first 100 days in office, and President George W. Bush enjoyed a 63 percent approval rating. President Trump took to Twitter on Monday to dispute the findings of the Washington Post-ABC and the Wall Street Journal-NBC polls.   The two fake news polls released yesterday, ABC & NBC, while containing some very positive info, were totally wrong in General E. Watch! — Donald J. Trump (@realDonaldTrump) April 24, 2017

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Today’s young adults value their studies highly—a larger percentage earn four-year-degrees than their grandparent’s generation did—but that does not necessarily mean that they are better off, according to a government report released last week. Millennials The study, “The Changing Economics […] The post Millennials Are Better Educated, Less Financially Independent appeared first on ValueWalk.

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... the Enfield homes would be about 15% cheaper to build than standard new homes because of their basic design. "They will have a functioning sink and bathroom, but what they won't have is every interior wall or things like fitted coffee machines [which housebuilders often include]," he said. Costs will be cut further because buyers will not have to pay for the land in the purchase price. The freehold will be retained by the council and owners will pay annual ground rent. The plan is to ensure that the homes are cheap enough that buyers will only need to spend a third of their gross
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At a time when Goldman Sachs fixed-income trading revenue fell sharply in the first quarter – much of it tied to coal and struggling shopping mall retailers – one component that was not to blame was bond market liquidity. What […] The post The US rates market resembles the FX market five years ago appeared first on ValueWalk.

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Alcoa and T-Mobile released their latest earnings reports after closing bell tonight. Alcoa posted adjusted earnings of 63 cents per share on $2.7 billion in revenue, compared to the analyst estimate of 53 cents per share. T-Mobile reported earnings of […] The post Alcoa Inc Shares Rise On Earnings Beat, T-Mobile Us Inc Falls appeared first on ValueWalk.

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Get rid of the clutter in your life – and your portfolio Spring has sprung, but have your investments transitioned from the winter blues to spring blossoms? The American Cleaning Institute found that 72% of households engage in spring cleaning […] The post Spring Cleaning Your Investments appeared first on ValueWalk.

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In this episode I interview Geoff Gannon who is the Founder of www.gannononinvesting.com I first found out about Geoff around 2005/2006ish and after all this time he’s still going strong! In this episode we discuss his concentrated portfolio of just […] The post Concentrated Portfolios, Retail, Supermarkets, Interest Rate Sensitive Banks – Geoff Gannon appeared first on ValueWalk.

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