G20 Statement on Currency Devaluation is a Joke

By Michael Stumo: The White House opposition to an effective regime to control currency undervaluation globally derives, in part, from their reliance on impotent efforts at international dialogue.  One venue for that dialogue is the G20 meetings. The G20 Finance Ministers and Central Bankers periodically meet to discuss global economic issues and coordination. The recent…

Zacks: U.S. DOC Launches Probe into Hot-Rolled Steel Imports

The U.S. Department of Commerce (“DOC”) has launched an investigation into the alleged illegal dumping of certain hot-rolled steel flat products by seven countries into the American market. Hot-rolled steel is used in appliances, automotive products, heavy machinery, machine parts, commercial construction and transportation equipment. The U.S. Department of Commerce (“DOC”) has launched an investigation…

Bloomberg: The U.S. Dollar Is Stronger Than Steel

When John Pierpont Morgan bought Andrew Carnegie’s steel business and combined it with two competitors to create U.S. Steel in 1901, the result was the world’s first billion-dollar corporation. Its roughly $1.4 billion market value would translate into about $33 billion in current dollars. But the company is worth less than a tenth of that today, at…