U.S. Sanctions China for Purchasing Russian Warheads

The United States imposed sanctions on China on Thursday for buying fighter jets and missile systems from Russia, which violates the U.S. sanctions law punishing Moscow for their alleged meddling in the 2016 presidential election.

US sanctions Chinese military unit for buying Russian jets, missiles

Brexit Boom: Government to Spend 1.3 Billion on Roads 

(REUTERS) – Chancellor Phillip Hammond will this week announce 1.3 billion pounds in new spending on roads as part of his plans to bolster the economy as Britain prepares to leave the European Union, the Treasury said on Sunday.

UK Roads

Government Chiefs Start Talks With Big Business Over Brexit

Officials from the Treasury and the Department for Exiting the European Union have made contact with the City to discuss the best way to sever ties with the political bloc before the Government triggers Article 50.

Newly appointed Chancellor of the Exchequer Philip Hammond is pictured outside of 11 Downing Street in central London on July 14, 2016

Treasury Rates at Zero Percent 46 Times Since 2008

Treasury Bill rates have recently fallen to zero percent, but few Americans understand that since September 2008 this has happened 46 times, and about 3 percent of all U.S. government debt under one year in maturity has been sold without paying any interest during the last 7 years.


Bernanke on Hamilton: Say it Ain’t so, Jack

I must admit I was appalled to hear of Treasury Secretary Jack Lew’s decision last week to demote Alexander Hamilton from his featured position on the ten dollar bill. My reaction has been widely shared, see for example here, here, here, here, and here.

Hamilton Cleaning (Reuters)

Poorest 10 Percent Spend Half of Income on Taxes

Britain’s poorest 10 percent spend nearly half of their income on taxes. At the other end of the scale, the wealthiest 10 percent spend 35 percent of their income on taxes, but on average pay out more than £30,000 more

V1ctor / Flickr