Economic News Investiations

Earl Lovell

17 Arrested As European, U.S. Officials Raid Online Black Markets

United States and European Officials have recently set up a raid for online black markets. They arrested 17 people from numerous sites, along with The Silk Road 2.0, which sold weapons and drugs. The raids took place across a total of 16 European countries, along with the U.S. It is said that bit coins worth 1 million dollars, 180,000 euros, along with gold and silver were seized. It is said that these criminals feel like they can't be reached using Tor (The Onion Router), which is a site that makes internet protocols anonymous.

White House explains why its visa reforms are a big deal for the U.S. economy

A big step has been taken with traveling options between China and The U.S. Chinese tourists and business have been a very big part of the growth of our economy, believe it or not. Chinese visitors have accounted for 20% of or growth since 2008. Tourism has created roughly 260,000 jobs in the U.S. , and is our largest series export. Visa's have been extended to 10 years to Chinese tourists and business, and student Visa's have been extended to 5 years, as opposed to renewing them annually. in 2013, there were 9.2 million Visa's issued by the State Department, a 42% increase from 2010. in 2013, 1.8 million Chinese tourists visited the U.S., spending $21 billion(mainly at small businesses across the nation) and supporting 100,000 jobs. With this change, we are anticipating more than 7.3 million visitors from China in 2021, spending about $85 billion per year and supporting some where around 440,000 jobs, 4 times what it was last year.

Target is giving away money to get you to shop

It's that time of the year again. The holiday season is upon us, that means Black Friday deals. This year, Target is going big on trying to get customers to come into the store. The reason for this is to get them to buy more product, obviously. But, last year there was a major data breach revealing many customers accounts information. Ever since, Target has lost a lot of in-store customers. The online deals are only the beginning of Targets goal to get customers back. It is estimated that for this holiday season, in-store shopping will grow by about 4%, while online shopping is estimated to increase by about 8%-11%.

Cannabis be true? Colorado pot sales fall

As everyone knows, Colorado was the first state to legalize Recreational marijuana to the public for anyone of ages over 21. The taxes and fees have rises tremendously from the legalization in January. But in the last few months, this has dropped. The income from taxes dropped from $7.7 million to $7.2 million from August to September. The reason for this is believed to be from the drop in tourism between summer and winter months. Tourists account for 44% sales in big cities and as much as 90% in mountain resorts. This drop is not expected to last, as tourism will pick up again when snow starts to fall. The total marijuana industry is expected to be worth about $700 million.

Obamacare enrollment unlikely to meet 2015 goal

It seems as if Obamacare isn't doing as well as hoped lately. The goal of enrollees has been lowered numerous times. This year it was lowered from 8.1 million to 7.1 million, and next years was already lowered from 13 million to 9-9.9 million. The reason for this is many different things. From people not paying the premium to sign-up, to failure to show proof of citizenship, to even not finishing the enrollment as it took too long. Some people aren't dead set on enrolling yet, some because they aren't sure, others because they have found jobs that provide healthcare. The estimated enrollment for 2017 was 25 million, but because of these losses, there are projecting it take a few more years after to reach 25 million, if not longer.