Trump's policies won't cause recession: Economist
In addition, the report said the Trump plan would roll up another $11 trillion in national debt, trigger a trade war with China and push unemployment higher. "It is based on flawed assumptions that the authors admit 'are our own,' and these assumptions grossly misrepresent the Trump campaign's policy statements on the economy, trade, tax reform, and immigration." Navarro said he examined the Moody's analysis — which resembled critiques from other Wall Street economists — at the behest of the Trump campaign, though he said his response was independent of influence from the campaign. "Under the threat of Trump's countervailing tariffs, Chinese leaders realize they no longer have a weak leader in the White House, and China ceases its unfair trade practices," he wrote. Both the U.S. Zandi has also been an instigator of, and chief apologist for, the failed Keynesian fiscal and monetary stimulus policies of the Obama presidency — a presidency marked by slow growth, stagnant wages, a near doubling of government debt, and a likely recession as Obama leaves office," he wrote.
This entrepreneur sold an app to Snapchat for $54M and is now traveling the world
Entrepreneur Garrett Gee decided to ditch the regular lifestyle and travel the world after selling Scan, a mobile scanning app he co-founded, to Snapchat in 2014. The deal for Gee and his co-founders was valued at $54 million at the time — $30 million in cash and the rest in equity in Snapchat. Gee declined to disclose how much he personally made from the deal. Instead, Garrett and his wife Jessica "Settie" sold most of their belongings, including their cars, furniture, TV and extra clothes, and are using money they made to fund their adventures. The couple and their two young children, Dorsey and Manilla, call themselves "The Bucket List Family." So far, 25-year-old Garrett and 29-year-old Settie have traveled with their kids to a wide range of exotic spots, such as Turks and Caicos, Thailand, Australia, Tahiti and Hawaii.
Stocks pare losses with Dow off less than 300 points; materials lag
stocks traded lower Monday, with the Dow and S&P breaking below key technical levels as the post-Brexit sell-off continued. In midday trade, the Dow Jones industrial average traded about 250 points lower after briefly falling more than 300 points.The S&P 500 came off session lows and struggled to hold above the psychologically key 2,000 level. In midday trade, the Dow Jones industrial average fell 246 points, or 1.41 percent, to 17,157, with DuPont leading decliners and Verizon Communications and Johnson & Johnson the only gainers. The S&P 500 declined 34 points, or 1.69 percent, to 2,002, with materials leading eight sectors lower and telecoms and utilities the only advancers. The Nasdaq composite declined 106 points, or 2.27 percent, to 4,600.
9 business icons who turned a career calamity into billions
Lululemon founder Chip Wilson had a very high-profile "bad" job experience when comments he made in response to complaints from women that his company's yoga pants were see-through became infamous. Billions were shaved off the company's value. "I feel like I've kind of been in prison," Wilson recently told The New York Times as he attempts a comeback with a new clothing company, Kit and Ace. Alastair Campbell, author of "Winners: And How They Succeed," told CNBC, "Everyone doesn't need to be fired at least once to succeed, but it is important to have a mind-set that tries to get good out of bad. Many of the people I interviewed were very clear that they learned more from failure than from success."
Bill Gates, Charlie Munger, and Warren Buffet were on CNBC this morning. Estimated net worth in this picture: $143.1 Billion
Dutch Speed Skating coach Jillert Anema on CNBC
Not original purpose of chart posted by CNBC, but it looks to me that next year we won't have Thanksgiving anymore.
Saw this on the front page of CNBC - yesterday's resume bar was originally posted to reddit by CNBC Social Media Producer
