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Mark Gongloff

Entries by Mark Gongloff

'Patriotic' Big Banks Profit Helping U.S. Companies Dodge Taxes

(88) Comments | Posted July 29, 2014 | 10:39 AM

After wrecking the U.S. economy and sucking hundreds of billions of dollars from American taxpayers for their own survival, what can our patriotic big banks do for an encore? Why, help American companies flee the U.S. to avoid taxes, of course. For America!

Andrew Ross Sorkin had a

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Why Everybody Is Mad At Rich People

(11) Comments | Posted July 29, 2014 | 10:27 AM

Rich people have been wondering why everybody is so mad at them when all they do is create jobs and have better genes and work harder than the rest of us schlubs. But it's no mystery.

The answer to why...

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What Your Chipotle Burrito Is Trying To Tell You About The Economy

(68) Comments | Posted July 22, 2014 | 11:56 AM

Have you recently eaten a Chipotle burrito in front of the TV while binge-watching one of your shows on Netflix? Maybe? Probably? If so, then you, my sloppy TV friend, just might have the secret answer to the mystery of the future of America's economy.

Here is what I mean:...

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Austerity Is Poisoning The Economy, In 2 Charts

(638) Comments | Posted July 16, 2014 | 2:32 PM

Austerity is like a bad tattoo: It's going to be with us, causing misery, for years to come.

The broad spending cuts that were the fruits of the Republican Congress' budget obsession of the past few years have already cost the U.S. economy $351 billion in lost economic...

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Tech Company That May Not Exist Is Worth $5 Billion

(48) Comments | Posted July 10, 2014 | 8:36 AM

Bubbles are filled with air, so it is only fitting that in our new tech bubble we buy companies that are mostly made of air.

One of the hottest stocks in the universe right now is a social-networking company called Cynk Technology, ticker symbol CYNK. As of Thursday...

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The South Is Essentially A Solid, Grim Block Of Poverty

(1556) Comments | Posted July 2, 2014 | 7:55 AM

The Great Recession and Not-So-Great Recovery have been bad news for most Americans, but some people have suffered more than others. We call those people "Southerners."

North Carolina and a handful of other Southern U.S. states saw the biggest increases in the number of people living in what are...

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Things Get Super-Awkward When CNBC Discusses Whether Tim Cook Is Gay

(97) Comments | Posted June 27, 2014 | 3:45 PM

America's most testosterone-fueled news channel just had itself a little chat about gay CEOs. It went about as smoothly as you might expect.

New York Times columnist Jim Stewart was on CNBC Friday morning discussing the mystery of why chief executives in Corporate America aren't outing themselves left...

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Maybe Obamacare Didn't Save The U.S. Economy After All

(470) Comments | Posted June 25, 2014 | 10:04 AM

Obamacare is going to have to return its hero's cape, and we're all going to have to learn to think twice before we over-react to shaky economic data.

Two months ago, President Barack Obama's signature health-care reform law was widely credited with saving the U.S. economy from shrinking...

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Fact-Checking Walmart's Fact-Check Of The New York Times

(571) Comments | Posted June 24, 2014 | 3:25 PM

Accused of paying its workers too little, Walmart has responded in the most 2014 way possible: by being snarky on the Internet with a "fact check." Unfortunately, it is longer on snark than on facts.

Walmart rep David Tovar recently took a digital red pen and marked...

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Sting Just Cut Off His Kids, But They'll Be Fine

(4) Comments | Posted June 23, 2014 | 11:23 AM

Sting may not plan on leaving very much of his wealth to his offspring, but don't mistake him for some kind of equalizing role model out of Thomas Piketty's dreams.

Gordon Sumner, a/k/a Sting, the 62-year-old former frontman for The Police and alleged marathon sex-haver (not really),

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New Investment Firm Invests In 'Patriotic' Things Like Guns, For Freedom

(15) Comments | Posted June 18, 2014 | 10:46 AM

If you are somebody who counts gun makers among the victims of the Sandy Hook Elementary School massacre, then I have an investment opportunity for you.

It's called Freedom Capital Investment Management, a new money manager that claims to be "the first investment manager dedicated to Patriotic Responsible...

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America Is Globally Shamed For Its Pathetic Minimum Wage

(870) Comments | Posted June 16, 2014 | 10:46 AM

America is treating its low-wage workers so badly that it's starting to get shamed by the rest of the world.

The International Monetary Fund on Monday cut its forecast for U.S. economic growth this year, warned of sluggish growth for years to come, and made a bunch of...

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(4) Comments | Posted June 15, 2014 | 11:05 PM


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Bill Gates Just Blew Our Minds In A Single Tweet

(431) Comments | Posted June 13, 2014 | 9:53 AM

For the past several years, China has been building stuff at a mind-blowing pace. Just how mind-blowing? Here, let's let Bill Gates put it in perspective:

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Lend These Guys $17,000 And Get Free Burritos For 4 Years

(1) Comments | Posted June 12, 2014 | 1:23 PM

Are you a wealthy Londoner with an appetite for risky investments and also delicious burritos? Then have we got a deal for you.

Chilango, a small Mexican-food chain operating in some of London's snobbiest neighborhoods, is raising cash by selling bonds that pay 8 percent interest per year...

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Wall Street Just Lost A Bestest Buddy In Eric Cantor

(40) Comments | Posted June 11, 2014 | 12:27 PM

Eric Cantor's political career is dead and Wall Street is sad.

The primary defeat Tuesday night of House Majority Leader Cantor (R-Va.) at the hands of Tea Party rival David Brat means Wall Street is losing one of its best buddies, a champion water-carrier for finance. And Wall...

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Why You Might Finally Be Getting That Raise After All

(14) Comments | Posted June 11, 2014 | 7:39 AM

The recovery might soon start to feel like a real recovery: There are hints that wages could finally start growing again after a long rut.

Stagnant wages have left most Americans feeling like the five years since the Great Recession officially ended weren't much of a...

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Uber Worth $18 Billion Because Sure, Why Not?

(171) Comments | Posted June 6, 2014 | 2:48 PM

Now do you believe we're in a new tech bubble?

Uber, a controversial car-hiring app, just raised $1.2 billion in fresh investor cash, giving it a total value of either $17 billion, according to the company, or $18.2 billion, according to The Wall Street...

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We've Recovered All The Lost Jobs! Too Bad It Doesn't Matter

(390) Comments | Posted June 6, 2014 | 11:43 AM

We have finally recovered all the jobs lost in the Great Recession. That's good, but not nearly good enough. In fact, we might still be missing 7 million jobs.

The U.S. economy added 217,000 jobs in May, the Bureau of Labor Statistics reported on Friday. There are now...

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McDonald's CEO: 'We Will Support' A Minimum Wage Hike

(338) Comments | Posted June 4, 2014 | 11:26 AM

McDonald's might finally have figured out that paying its low-wage workers more would actually be a good thing for McDonald's.

McDonald's CEO Don Thompson recently suggested his company would support a bill, proposed by President Barack Obama, raising the federal minimum wage to $10.10 an hour from $7.25. Such a...

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